Setting up an office space for a business is not a trivial task as it takes a lot of your time and money. While having own office space for a business is a milestone for owners and young entrepreneurs, it’s a known fact that it can go wrong sometimes and the result will be a drastic financial loss.
So, is there any way small businesses or start-ups can set up their offices without having to spend too much? Yes, there are!
Try Remote Work Model
Well, remote work model is not something new for people who’ve been in business for long time. Remote working needs no official place to sit and work for long hours, separate cabins, conference rooms and other typical office space stuffs. All that it takes is a little bit of responsibility from the employee, trust from the company hiring remote workers and high-speed internet connection.
However, the trust shouldn’t be a blind faith as there are a few workers who don’t take remote working seriously. But setting strict deadlines and monitoring on the project management tools or simply scheduling conferences on Skype, managers can always keep an eye on employees.
So, when does this remote working make sense?
All the businesses which are online service based can adopt this strategy of making their employees work from home. Just see if your employees can work from wherever they are. Most of the entrepreneurs who are result oriented follow this approach; all that matters to them is the result, but not seeing their employees daily.
What’s the use of employees coming to office daily but not working to their full potential? Doesn’t make any sense right? But you should never forget the downsides of remote working like employee’s productivity and time management.
How about Co-Working?
Many young entrepreneurs today don’t like the idea of co-working spaces at all. Hubs or co-working spaces are where employees can spend most of their time working as they want. Co-working spaces have basic amenities like high-speed internet connection, cafes, libraries and all that one would look for to carry out his/her business operations.
Why don’t young entrepreneurs like the idea of co-working? Probably they’re forgetting some benefits that co-working spaces have got to offer.
Most likeable thing in co-working spaces is that it gets you meet a few like-minded people around. It offers you the greatest opportunities to build your network which lets you expand your business greatly sometime later. Also, you don’t have to be concerned about the maintenance and think of all those legal procedures to be followed while renting and leasing offices space where you’ll have to go around, search for spaces, redesign the place if it’s not matching your requirement.
But co-working is not everybody’s cup of tea; it won’t work for every company. If your employees are used to be working in a quiet environment, drop the idea of co-working right now.
Have Your Own Office
There are numerous strong reasons for business owners to have an office space of their own. Having a dedicated office space for a business, opens up the possibilities of creating a great company culture which directly affects how the employees feel in the workplace.
Entrepreneurs and managers should be aware that offices aren’t just about employee supervision and communication, but it’s a place where employees spend most of their time in a day. While the long-term opportunities that come with having your own office space looks very bright, short-term costs like setting it up can be devastating for young companies. But it certainly has more positive sides than the other two options mentioned above.
So what do you think? Which office space option looks the best?
Whatever option you choose, it should be constructive to the company. So choose wisely and take your company to new heights. And, if you are in search of office space or need any sort of assistance in commercial real estate, just let us know. We at Commercial Office Bangalore understand your needs and provide you an ideal solution.