Small business owners and entrepreneurs who are running their businesses from home are pretty much bewildered about their decisions to move into an office space. This is because there are numerous instances where the businesses made their move into an office space without prior calculations and ideas on how it would affect their business. And, the result is a blunder!
Yes, one small mistake has made many businesses take a back, and it’s been really hard for businesses to gain back the momentum.
So, when is the right time for a small business to make its move into an office space?
Is it when you are stable enough to pay rent? Is it when you want to have a professional work environment?
May be! But here are 5 evident signs that tell you can rent an office space without thinking further.
- INCREASED NEED TO MEET CLIENTS
Businesses that are in the service sector often need to have a catch-up with clients. May be to know the requirements clearly, or any other things related to the project. Of course, most of the communications these days are happening over a Skype call or any other video calling facility. But these would probably go well only with a large organization.
When you’re still a start-up, no big clients would initiate the project without having a closer look at you, the workplace and the workforce. That would give them an idea of how capable you are to take up the project.
So, when such need to meet the clients increases, it’s a clear sign that your company is growing and it’s the right time for you to rent an office space.
- NEED TO BUILD A WORKFORCE
This is obviously the next step you’ll have to take when you as a business owner find that there’s an increased need to meet the clients. When it increases, the list of your business clients also grows, and so the projects.
As and when your business starts to expand with its operations, you would not be in a position to manage everything yourself, and you’ll have to hire more and more people to your company.
When you hire a few people, would you make them work from home too? Wouldn’t it be unprofessional?
While you have no problem having a few employees working from home, your clients might look at it in a different way. To look like a professional, you’ll have to consider renting an office space when there is a need to increase the workforce.
- IMPRESSIVE REVENUE GENERATION
Yet another clear sign that you are ready to rent an office space is the revenue generation. The revenue generation of your company gives you an idea of how the company is progressing. If the numbers look impressive, definitely you should be having a few potential business clients with handful of projects to you.
And again, you’ll have to hire a few people to handle the projects and you need to think of accommodating them in a professional work environment. This doesn’t just build the clients’ trust but also makes your employees feel like they are working for a company that has great future.
- UNBEARABLE DISTRACTIONS
Most common problem of people working from home is the distraction caused by the home environment. It might just be a television running in high volume, kids running around, things breaking or the people nearby making hell lot of noise. Sometimes it becomes unbearable that it becomes a huge slow-down for your productivity.
So if you think you are constantly getting distracted because of the home environment, and you are not being able to focus on your work, it’s a high time for you to rent an office space. Let it be a small and professional space that lets you work without any distractions.
- YOU’VE CROSSED THE LOCAL LAWS
There are certain laws that permit only the businesses or certain size can operate from home (both in terms of revenue and employee strength). And, if your business crosses the number of employees that are allowed to operate from home, or if the revenue generation is more, you’ll be mandated to move into an office space.
Besides the laws set by the government, there are a few residential environments where they have their own rules that they would never allow offices to be run in the area.
Now you might have got a clear idea of how your business is progressing and if you really have to move out of the home office. If you have started noticing these signs in your business, it’s time for you to have a dedicated office space. Just let us know your requirements, Fortuneprops takes care of the rest and put you up in a great work environment.