For many businesses, the home is the ideal starting point: affordable, flexible and comfortable. Yet there comes a point when moving into a small business ofﬁce space is the right option.
Perhaps you are looking to start building a team and need the space for people and equipment. Or as a service business, you need a space to host meetings and welcome clients. It may even be that you want to work alongside people doing similar things, who can provide business innovation and skills.
Once your business reaches a certain level of maturity and stability, you face choices: is business innovation and growth something you want to pursue? What space and location is right for effective business innovation strategy, and does that mean a new ofﬁce beyond the home?
This chapter will address the issues and considerations facing home businesses with an eye on the future, and on the challenges of growth.
As your business matures, and you consider moving beyond the home environment, a host of new considerations will emerge.
"DOESN'T HAVE TO MEAN EMPLOYING AN ARMY OF PEOPLE FULL-TIME"
In the early stages of building a business, people get used to doing everything for themselves. But, with success, there will come a point where you can no longer cover all the work that needs to be done. Then you have a decision to make: are you looking for someone to help you meet the long-term needs of the business? Business recruitment doesn’t have to mean employing an army of people full-time: the right combination of contractors and freelancers can allow you to do more.
For some home businesses, the time will come when you begin to outgrow the original environment. While an ofﬁce means extra costs, it also allows you to meet with customers, suppliers and partners in a professional environment. That does not mean you need to go from the home straight to an expensive, long-lease on an office space.
There is a variety of small business ofﬁce space for rent ranging from virtual ofﬁce services, to serviced ofﬁces and shared workspaces.
"STAY A STEP AHEAD OF YOUR MARKET"
The environment for business is fiercely competitive. However successful your business model may have been to date, don’t let that stop you thinking about how you could diversify. What are the emerging trends that are about to hit the market; what are your customers likely to be looking for in six months time? If you can stay a step ahead of your market you stand the best chance of sustainable success.