Online business and remote work have grown so much over the past few years that business owners are starting to question the point of having a physical office. It’s true that many things can be done online, with offices even playing second fiddle for some businesses. However, does this suggest that physical offices are obsolete? Can your startup do without one?
It depends on your strategy, but you might want to check out these benefits of physical office space before making your decision:
It Enhances the Spirit of Teamwork
Productivity and efficiency are partly dictated by workforce collaboration. If the reason you don’t want an office space is that you have a work-from-home strategy, then maybe you are doing it at the expense of your employees’ productivity. The ROI of good office space is so great it can nullify and even surpass the benefits of remote working. All you need to do is find one of those companies that help tenants find office spaces and negotiate leases, and you’re good to go.
An Office Legitimizes Your Business
The internet has leveled the playing field for players in the corporate world, but that’s not all it has done; it has also opened numerous channels for fraudsters and scammers to exploit unsuspecting surfers. Without a physical office, you cannot set yourself apart from phony individuals posing as legitimate entrepreneurs. This could lead to a massive loss of business and hinder your journey to the top.
It Saves Time
With technologies such as Google Hangout, Skype, and Zoom, you may feel like your startup doesn’t need in-person meetings with clients and prospects. That’s true, but only to a small extent. These inventions do not offer the same convenience as meeting your clients in the flesh. Network connection irregularities and latency issues, among other technical shortcomings, can lead to communication delays and take a toll on your credibility.
It Evokes Employee Accountability
Startups often deal with accountability issues, and building a remote workforce doesn’t do much to help that. Lack of direct supervision gives employees the freedom to plan their own schedule, potentially leading to laziness and poor time management. A physical office space makes it easier for you to oversee projects and ensure each employee is doing what they are supposed to and at the right time.
Makes Logistics Simpler
When a startup has an office, your letters and other deliveries are sent to the same place. You will also know where to meet your interviewees and potential business partners. Without an office, logistic confusion will be rife, and your business may incur extra costs. Of course, you can close most of your deals online, but what if partners and investors want to meet you in person or you have to send documents or parcels to your entire workforce?
Having a physical office is important regardless of the number of your startup’s operations that can be done virtually. Just take the time to understand your office space requirements and get a real estate agent to find a suitable office for you. It may feel costly at the beginning, but its benefits, in the long run, will certainly outweigh the downsides.
Meeting room -DepositPhotos