If you’re looking to save some cash while starting your business, why not virtually test the turbulent waters of the business world before renting an office space?
The COVID-19 pandemic might have accelerated the growth of remote working culture, making virtual businesses the new norm. But even before the outbreak, virtual offices existed facilitating both the employer and the workers.
So, what does having a virtual office mean, and is it right for you and your business? Let’s begin with the basics!
What is a Virtual Office, and how does it work?
So basically, Virtual Offices are flexible workspaces that allow business owners and employees to work remotely through the internet. As a business owner, you will be getting all the benefits of a physical office without paying the expenses of an actual office.
Virtual Offices is a ‘service’ that gives entrepreneurs the perks of physical offices like office addresses, telephone numbers, meeting rooms, and the usual administrative services. But without having an actual physical workspace.
The employees can work remotely in any city or corner of the world as long as they have access to laptops and internet connections.
1. Cost Reduction: There is a significant reduction in the company’s expenses by offering remote jobs. You don’t need to invest in office spaces. Besides the rent, they are also exempted from gas, electricity, and water bills.
These saving money perks are for employees too. Remote jobs also do not necessitate professional attire, gas expenses, lunches, coffee takeaways, car maintenance, and many other expenditures. These savings add up and put more money in the worker’s pocket too!
2. Higher Productivity Levels: Virtual businesses can also reduce employee turnover. Even in case of emergency, the workers can at least check-in if there are pressing matters that need to be dealt with. Fewer interruptions of co-workers and fewer daily meetings improve productivity.
Telecommuting also entails flexible schedules and a better work-life balance. Employees have the freedom to start and end their day as per their choice as long as they accomplish the assigned tasks and goals and meet deadlines
3. Hire Talent from Anywhere: Giving employees the facility to work remotely gives the company a wider talent pool of applicants. It opens doors for young, energetic, and skilled workers who might not be interested in the job because of the location restrictions.
Because of virtual businesses, people who travel frequently or job seekers living in rural areas or small towns can also have the jobs they love that aren’t commonly available in their areas. It also means avoiding living costs for jobs that require you to be in metropolitan areas. Hence, having no specific job location means more people having access to a broader range of job opportunities that are usually restricted to geographical location.
4. Legitimacy like a Physical Office: You can also have a virtual office LLC or a postal address, email opening & scanning, meeting rooms, phone answering, and voice mailing services. Services like a proper address would pose you as a legit business. They would also help you receive and manage your physical mails while working remotely. Depending on the plan you choose, you’ll be getting services accordingly.
In this way, small businesses can appear more significant than they actually are and are very low-maintenance. This would provide an excellent opportunity for your business to scale while investing lower amounts of money and relying mainly on how much effort you put into your business.
5. Saves Time: Virtual Businesses also mean no commute, so time and money are saved by not needing to travel back and forth to your office. No commute not only saves time but also reduces stress levels and anxiety associated with long commutes.
Ditching a commute eases up the pressure to be on time at work, supporting one’s mental health. The time saved can be utilized into getting extra sleep, working out, or eating a healthy breakfast.
6. Save Money on Technology: With the Virtual Office lifestyle, there is no need to invest money on laptops, internet connections, or other technology investments that a physical office uses. The employees are responsible for whatever technology they want to purchase and are also responsible for upgrading it from time to time.
What you need to look for in a virtual office?
While there is no one-size-fits-all, each business is different and has different needs. Still, you need to keep a few things in mind before investing in a virtual office.
Choosing the location of your business’s virtual address is really important because a good place elevates the business’s perception in the customer’s eye. Also, take advantage of review sites and check out what other people have to say about the company you’re choosing from. Or ask around from other business owners you might know. There’s nothing better than a personal recommendation!
Now that you know the benefits, would you use a virtual office for your business?