3 Things to Think About When Moving Into Your First Office

If you’re a budding entrepreneur with a great idea and you’re ready to show it to the world, the first thing that you need to do is find a suitable business base. You can call it whatever you like; the headquarters, the main hub, the eye of the storm. It will be your command centre, your grounded haven where you can always rely on full connectivity to your customers.

While this is definitely an essential asset, there are no longer any hard and fast rules for how a first office should function. In fact, smaller businesses and entrepreneurial teams have been taking advantage of increasingly flexible facilities for years. In our fast paced digital societies, being on the move has become as important as being fully equipped, so companies are finding ever innovative ways to combine the two.

Virtual and serviced offices are hugely popular because they provide a practical balance between conventional resources (phone lines, broadband, a mailing address) and the need to remain flexible (no lock in contracts). They are a particularly good fit for startups and smaller companies, as their operations tend to be less focused on physical permanence. They are brands of the world and they move through cities, in search of the most fertile markets.

This guide to the most important features of a first office will help you spot the great from the distinctly average and decide if ‘going virtual’ could work for your business.

How to Hit the Ground Running

For businesses looking to move into or relocate within the Wellington area, there are a number of viable options. Either, you can rent in the traditional manner (and agree to a 2-5 year contract) or you can choose to work with a more flexible lease. Servcorp Wellington operates a fully staffed and equipped facility at Lambton Quay, which is a prestigious area of the city.

The big benefit of opting for a virtual office solution, as opposed to a basic, empty commercial lot is that you don’t have to start from scratch. For first-time office owners, this is a huge advantage. It takes a lot of the pressure off and hands over responsibility for the fussy logistics to an external provider. That way, you can focus on nurturing and growing your company while it is still young and vulnerable.

Location Really Is Everything

Location means a lot to investors, sponsors, and affiliates. It is significant because it determines how easy you are to access and a good location comes with a certain amount of prestige. Whether you pay for a private office lease or you work with ‘pay as you go’ virtual facilities, a corporate address that looks impressive on paper can be very powerful.

It is certainly more influential than working out of a home base. This is a popular move for entrepreneurs and startups, as it minimises overheads, but the problem is that it looks unprofessional. Given a choice, most investors would pick a company with a formal address over one that operates out of a domestic location, even if the latter business has a better product or service.

Flexible, Affordable Rates

When a business is in its early days, profit margins tend to be dangerously narrow. You need to invest money to make money and the wrong spending decisions can be disastrous. However, if you can find a way to keep everyday operating expenses low, you’ll enjoy smaller risks and more opportunities to grow and develop. You might even have the cash to think about hiring your first dedicated members of staff.

If this does happen (or when, rather), you’ll need the freedom to adapt and adjust your business model accordingly. Accommodating growth is really important for startups and smaller companies and it can be tough if you’re locked into a long term lease. With a serviced office package, you’re paying to access the resources and tools that you need. But you don’t have to make a commitment to them. If you no longer need them or you want to make a change, you only have to switch up your work habits.

Please follow and like us:

129