Is Your Business Ready For A Professional Office?
By Lori L. Davis
One of the biggest challenges an entrepreneur faces is making the decision to expand their basic office to a professional location. Considering all the Pros and Cons for making the leap is the first step. When considering your business plan, knowing who your target market is and how you want to communicate attract your clientele is essential to growing your business. Having the right office space, amenities and professional support could make all the difference for your business profitability!
Here are 5 questions that can help you with the thought process when making the decision to rent a professional office space.
1. What kind of impression are you making to potenial clients?
Think about your clients, demographics and what brings them to you for your products and services. Consider how to best communicate with your target market. Be careful not to puzzle your clients who may be hindered to meeting you in a personal residence. Are your options limited to noisy crowded spaces when a client needs your undivided attention with private business matters? When you experiencing more misopportunities than opportunities to make great business transactions might be time to plan a move.
2. How much revenue and financial resources are available to make monthly rental payments?
Your budget for rental space is critical. Most entrepreneurs, during the initial stages of startup can be strapped for cash early on. However, if an office space is important for your business, there are many options and financial business solutions are out there to help qualified businesses when they are ready. Do your research first and make your plan accordingly. What you don’t want is extra stress additional overhead you can’t afford it. Today there are many options for Virtual Services and Co-Working spacing cutting down the costs considerably and still having a very professional presence and amenities to support your business.
3. Does physical interaction play a role in your business success?
Think about the products and services you offer and how they will play a role in future growth and development. List the business needs for personal interaction such as: private one on one meetings, strategy/brainstorming and collaborative meetings. If you have a large percentage of business needs are for these physical interactions, then its an essential part of your success, then a professional office might be a good option.
4. What is your initial staffing requirement and do you see additional staffing needs in the future? If your “team’ just consists of you and no one else, an office may or may not be necessary. However, the answer isn’t that simple, if you are finding you are doing too many administrative tasks that are taking you away from what you do best, you maybe holding back your business to real growth! Look to your business plan and see where you want to be. There are so many office solutions available to meet you where you are weather you have a small staff now or looking to hire. Then, having a professional place for your assistants to work is important and a smart investment.
5. Final question, what do you want and why? After looking into the dynamics of your start up or work situation, gain insight to the benefits of having a professional office. Think of your long term business goals and will having the professional presence be important to achieving them. Visualize yourself driving to work every day where your business is separated form your personal life. Seek credible business counsel, at the end of the day, only you know what’s best for how you want to operate your business, so follow your instincts.
Making the jump from working from home to having a proffessional office is a huge decision that should not be taken lightly. Hopefully, answering these questions will help guide you to making the right decision at the right time. Whatever your choice, pick a path, see what develops and makes changes as necessary.
Lori is the Executive Operations Manager at Stat International, Business Office Solutions. She has helped many business owners find professional offices, co-working space, virtual services, administrative support and conference rooms–all customized to the individual business needs. She makes herself available for personal tours and consultation to help businesses thrive.
A Stat International large professional corner office with a lovely Wilmington cityscape view.
Contact Lori today to learn how Stat International can help your business grow.
302.884.6746
Testimonials
“I’ve been with Stat International for 3 years and counting. It is all about quality – the people, the space, and the location. As my business grows, my office can grow without changing location. Stat is more than a place for your business– it is an ecosystem of service providers. In this location, I’ve found marketing support, video production, legal advice, an active chamber of commerce, and several new clients, too. All just steps away from downtown.”
– Jim Lee, CFA, CMT, CFP®, Founder
Strategic Foresight Investments
“I love the flexibility that STAT International offers me and my clients … whether it is a meeting space for 15 people with the most current technical functionality required for today’s business meetings or the ability to accommodate any of my client’s needs. The staff at STAT is friendly and supportive of all my business requirements.”
– David R. Batman, Esquire
Law Office of David R. Batman
302.573.2528
Offices & Suites • Traditional Office
Support • Conference Rooms
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• Customized HUB-Share Co-Working Space
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• Kitchen & Cafe Area
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headshot by Shannon Adelson
