Are you planning to execute your idea into a startup business? First of all, congratulations that you were able to muster this amount of courage and dared to follow your passion. Secondly, best of luck to you for your venture and we hope you achieve huge success.
Now, the tough part, few questions that you must ask yourself to judge or predict the success of your idea. Starting from, do you think the idea can achieve success? How big are you planning? Do you have an execution plan? The last but not the least, do you have sufficient investments for your infant startup?
We can’t help you with every question but we can surely help you with the last question “do you have sufficient investments for your infant startup? “ only if the answer is a ‘NO’ or ‘I have sufficient but I don’t mind saving some money’.
How can we help? Money can be a major factor that might promote or degrade the continuity of your business. In the starting phase, every business needs proper funding to continue with its activities as long as it doesn’t get mature enough to earn some clients and profits. Hence, you may never know when your business will demand investment. Thus, being a businessman, and acting smartly, we should have enough capital in our hands to fulfill the business demands whenever they prevail. So, after reading few interviews of business experts who started from zero and now sitting on the top, I came to a conclusion that in the initial days it’s better to invest money on the inevitable demands of the business but save every single penny that you can on other things by looking for acceptable alternates. One such thing is office space. It’s not necessary to get your own office when you can manage with the other economical alternates.
Talking about three alternatives that you can think of in place of private office
- Virtual office space: Virtual office spaces provide you the flexibility to operate your office from anywhere in the world with other important facilities like renowned official address, personal business receptionist, official contact no and fax machine number.
- Shared office space: Shared office space are economical alternatives which allow you to share your official space along with other facilities like security, IT, meeting rooms, and conference rooms with other businesses
- Single possession office: If you want your own privacy in your official workspace, this is the best option for you. You can rent an official space for yourself, alone. This will cost you more than other alternatives but you can customize your space according to yourself.
The common features:
- Saves on cost: Renting either of three alternates to official workplace saves a lot of costs that you can utilize on other aspects. Rented office space is an affordable option compared to buying your own space.
- Saves IT and networking service cost: The IT services and networking facilities are provided by the vendor and hence, you don’t need to install them yourself.
- Professional environment: In either of three cases you’ll get a professional business environment that suits your requirements.
- Shared amenities: Amenities like security, the internet, parking, CCTV cameras and other unnamed facilities which are provided by the vendor saves a huge amount of money.