Last Updated on Mar 26, 2020 by James W
OK, we get it. You have a great business idea, and you want to put everything into making it a viable product. And, that will include giving your new business a professional and creative sheen.
However, there are ways and means of doing that, other than splashing out big bucks for a fancy new office in an undercool area. Yes, it might look great – but in reality, it’s only doing one thing: stroking your ego.
In the early stages of your business, there are far more important things to think about that are worth the investment. Here’s why that shiny new office is a waste of your time – and money.
You can do everything in the cloud
The vast majority of office-based tasks can be done just as well online and in the cloud. You can collaborate on documents in Google Drive, for example. You can hold meetings in a video conference via Skype, and order anything you need from the comfort of your browser. It means that the base of your entire operation can be anywhere that there is an Internet connection. Your home is a perfect start or even your local coffee shop.
It’s a waste of valuable time
Running an office is a job in itself, so why waste the time at such an early stage of your business? Everything about it is a time drain, from your commuting hours to the time wasted chatting about last night’s ball game at the water cooler. This is all time you can spend refining your idea, getting your first customers, and ensuring its success. The longer you spend developing a product, the riskier your future will be. There’s a better time and place for opening up an office space. It’s when you are well and truly established, and it makes financial sense.
Your money can be used elsewhere
Every cent counts when you are a startup, whether you are bootstrapped or otherwise. Of course, there are good reasons for having an office – if it correlates to you getting more profits. But, until you are in a position to judge that every dime you spend on rent could be used far better elsewhere.
There are cheaper options
Another reason people crave offices is so that they appear more professional. There is something to this, of course – using your home address can look a little amateurish. However, you don’t have to have an office to give you that sheen. There are plenty of business hubs out there that offer workspaces should you need them – and they are a much cheaper option. Plus, you can use them as your company address. Coworking specialists Level Office allow members to use their address for a small monthly fee. And you will get access to some of their facilities, too. It makes sense when money is tight to embrace a service like this, and invest in other areas instead, such as marketing your product.
So, with all this in mind – what are your thoughts? Of course, having an amazing office with tropical fish tanks, 60??? TV screens and creative rooms is a great dream to have. But right now? Your money can be used to far greater effect elsewhere.