By: Taylor Bartley
Your business is growing and you have been able to handle your workload from your current workplace. Now, as cash flow grows you may realize that simply working from home, having a virtual office or working from coworking spaces is no longer ideal. Here are a few signs that you are ready to move into office space.
Outgrowing every work space
Growth is a wonderful thing! The main downside is that coworking spaces and small home offices are not ideal when your company begins to grow. This is especially true when the time comes to hire employees. As comfortable as you may be in your home office, your employees will likely feel otherwise. Having an office space gives you the structure you need with a growing business. Your employees will appreciate it too!
Your finances are in order
You have been concerned with saving money since day one. A big sign that you are ready to move into an office space is when you look at your finances now compared to where they were in your first quarter. If you are growing in the right direction, your finances should reflect that and tell you that you are able to afford your own space. It is possible that you do not even realize how affordable office spaces can be. Do your research, because you may be pleasantly surprised.
Be realistic. Would your business be better off if you had your own office space outside of your home? Are you underestimating the number of interruptions you have during the day? This is something you have to be honest with yourself about. You may be comfortable with your current work space, but if you know it is holding you and your business back, allocating funds to getting your own office may be exactly what you need.
More regular client meetings
With the growth of your business, you naturally begin to have more meetings. These meetings may take place at a coffee shop (not the most private place to talk business) or maybe the client’s office. Going to your client’s office is great, but when that client then wants to meet at your office, being forced to go to a coffee shop or café is not ideal. When you have your own office space, you have room to hold meetings with your clients in a professional environment. What is even better is that you have access to conference rooms for larger meetings. Having that professional appearance is something you simply cannot put a price on. Many of the entrepreneurs at Centerco tell us that they could not imagine running their business from anywhere else as their business has grown.