Most small/micro businesses will start from a home office or temporary office space due to the risks associated with getting a new business idea off the ground. This approach makes sense to manage the downside risk in case the business doesn’t take shape as expected. However, as I have outlined in a previous post there are certainly some limitations to working out of a workspace which is somewhat cobbled together. At some point, the benefits of having a workspace which frees you (and your team) up mentally to be as productive as possible far outweigh any risks involved. However, the $64,000 question is when should you make the jump to a dedicated office space for your business?

When The Team Grows

Managing a growing team from your home office can be a real challenge. Unless you live in a kid-free house with multiple spare bedrooms, it is unlikely that your home office will support any more than a single employee on a flexible basis. In this scenario, you also need to consider how comfortable you are having employees coming into your home and how comfortable an employee will be with this arrangement. The other option for a growing team is to have employees work from their own houses, but then you open up a range of issues involved with managing remote teams. A growing team needs cohesion in a central location which supports the way it works and can scale with its growth.

When The Distractions Become Too Much

Even if your business is still a ‘one man band’ the distractions associated with working from home can become overwhelming. In the home office distractions are everywhere – that load of washing that needs to be hung out, the midday news on TV, checking the mail as soon as the postman has been – they’re all things which somehow become urgent when working from home. One of the underrated roles of an effective workspace is to put you in an environment which is conducive to actually getting things done – distraction free.

How Do People See Your Business?

One of the most common catalysts for seeking a dedicated workspace presence is when a business needs to start portraying a more professional image to it’s clients. Whether it is the need to have a CBD address rather than using your PO Box as a business address or having access to meeting rooms for client meetings, there are a number of facets of a business’ operations can drive the need for an office space. How people perceive a business is critically important to its success and that alone can justify the move to a dedicated office space.

The Dollars Start Rolling In

The most common reason for starting or running a business from a home office is to manage the financial risk of things not going to plan and having obligations associated with a dedicated office space. Once the business reaches a point where it is financially stable, the benefits of having a dedicated office space for your business well and truly outweigh the cost of operating the space. However even as the business reaches this tipping point, there are options such as Virtual Office or Flexible WorkSpaces which can provide many of the benefits of a dedicated office space, without the cost. Selecting the right location will also enable you to grow without changing your address.

So as your firm grows it is more a question of ‘when’ rather than ‘if’ an office space will be of benefit to the operations. Like so many things in life, it can seem like there is no ‘right time’ to make the jump into a dedicated office space, however if the move is managed correctly the benefits can be substantial, and almost instantaneous.

What were some of the things which you thought about when considering the move into an office space for your business?

When you are ready to have a chat regarding an office in the Adelaide CBD, give us a call on (08) 7071 7071.