ISmall-Business.net

Intelligent Business Solutions

  • Home
  • Strategy
    • Small Business Strategy
      • Combining Niches to Maximize Profit Potential
      • High Ticket Versus Volume Niche Selection
      • How to Know When to Cut a Business or Niche Loose
      • Never Put All Your Eggs in One Basket
    • Sales Strategy
      • Facebook Networking Versus Paid Advertising
      • Brainstorming a Successful Sales Funnel
      • Best Practices for Profitable List Building
      • Backend Sales Strategy Tips
      • A Better Way to Use Webinars for Profits
      • Creating a Welcome Email That Makes Money
    • Production Strategy
    • Human resource strategy
  • Management
    • Business action plan
      • 7 Things to Send JVs to Get Them Onboard
      • Don’t Make JV Promises You Can’t Keep
      • How to Host a Challenge and Maximize Profits
    • Small Business Management
      • Putting Profit Tasks First During Time Management
      • How Self Doubt Sabotages Your Financial Success
      • Repurpose Your Content to Save and Make Money
    • Business Management Topics
      • Fighting the Stigma of Failure
      • Figuring Out the Perfect Launch Date and Time
      • Bonus Creation That Catapults You to Leaderboard Domination
      • Do Customers Prefer Video or Text Courses
      • Minimize Your Risk of Refunds with These 5 Tips
      • How Often Should You Email Promo Material
      • Narrow Niche Domination
      • Perfecting the Launch Process for Increased Profits
    • Business Management Blogs
      • Nobody Expects a Perfect Expert
  • Ideas
    • Find business ideas
      • 5 Lucrative Non IM Niches
      • 6 Niches That Are Hot on Social Networks
      • Are PLR Stores a Viable Way to Make Money
      • How to Know If a Membership Site Is Right for You
    • Idea feasibility
      • How to Make Money Off a $7 Product
      • Recurring Income Options
    • 10 top business ideas
      • Could Coaching Bring in More Money Than Products
      • Individual Coaching Versus Group Coaching Profits
      • Building a Reputation as a Powerful Affiliate
      • Pinterest Profit Niches
    • Low cost business ideas
      • Making Money Off eBooks and Reports
  • Valuation
    • Business Valuation
    • Increase business valuation
      • Making Wise Investments in Tools to Further Your Business
    • Business Valuation Methods
    • Understand business valuation
  • About
    • About Me
    • Blog
    • Contact Us
    • Sitemap
    • Privacy Policy
  • Strategy
  • Supply Chain
  • Customer Focus
  • Entrepreneur
  • Biz Opportunities
You are here: Home / Strategy / Do You Need a Home Office or Separate Office for your Small Business?

Do You Need a Home Office or Separate Office for your Small Business?

May 27, 2019 by Asif Nazeer Leave a Comment

[ad_1]

How to Set up an Office

Your office environment can make a big impact on the success of your business. Conventional wisdom says that you need to rent a traditional office space when starting out. But recently, starting a business from home has become more of a possibility.

How to Set Up an Office: Home or Away?

For solopreneurs or those who are able to work remotely, setting up a home office can be an affordable alternative. And there are plenty of tech tools that you can use to stay in contact with your team, clients and customers. But having a separate office outside your home also has its merits.

Each entrepreneur and each business is different. So you need to carefully consider your specific needs and the pros and cons of each option before making the leap. Here’s what you should know about choosing between a home office and a separate office space.

Pros of a Home Office

Home offices are affordable and convenient, which can be especially beneficial for new businesses and solopreneurs. You can avoid paying rent, covering utilities and stocking your office with furniture, equipment and supplies. In fact, you might be able to get by with just a laptop and an internet connection, which many people already have. This can allow you to save up to make your business more financially viable in the future, at which point you can reserve a dedicated office space. Or you could simply choose to run a lean business without a lot of expenses long-term.

Additionally, working from home allows you to avoid long commutes and lets you easily get back to work at any time of day. Whenever you’re at home, you have the ability to access your office to write down a new idea or take a quick conference call.

However, even if you have a team, you have the option of working remotely from home and reaping those benefits. There are tons of communication and collaboration platforms available today that can help you communicate with team members and clients from your home office. You can use Slack to stay in touch with everyone, Skype to voice or video chat with people and Trello to manage specific projects.

Cons of a Home Office

However, home offices aren’t practical for every type of business. They don’t give you a convenient place to take in-person meetings or deal with customers. And some types of businesses require equipment or warehouse space that you simply cannot fit in most homes.

Even if you’re a solopreneur or a business owner who could theoretically manage things remotely, home office work might not be for you. Having your work so easily accessible can make it difficult to balance work and home life. You might face too many distractions and see your work suffer. Or you might find yourself working constantly and see your home life suffer. Additionally, it’s not the best solution for extroverts who like interacting with people on a daily basis, though you might be able to combat this by going to a coffee shop or coworking space a few days per week.

Pros of a Separate Office

Some businesses, particularly customer facing businesses like retail stores or repair shops, absolutely must have a dedicated space. Not only do you need the space for practical reasons, but having a separate office also appears more professional to customers or clients and gives your business some extra credibility.

However, even some businesses that don’t get regular visits from customers can benefit from a separate office. If you have a team or are thinking of hiring, having a space where you can all work together can be beneficial for collaboration. It may also help you keep employees on track and hold people accountable for their work.

For solopreneurs, a separate office might be right for you if you have productivity issues when working from home. You’ll likely deal with fewer distractions in a separate location. And it can also help you keep a regular work schedule, rather than constantly overlapping your work and home life.

Cons of a Separate Office

The main downside of renting a dedicated office space is the cost. Not only do you need to rent the space, but you also need to pay for utilities, furniture and equipment. If you have a team, all those costs get even higher.

More established businesses can usually afford this expense. And many find that the benefits are well worth the cost. However, newer businesses might find it to be out of reach, or might simply prefer to save the money early on until renting a dedicated space becomes absolutely necessary.

Image: Depositphotos.com

This article, “Do You Need a Home Office or Separate Office for your Small Business?” was first published on Small Business Trends



[ad_2]

Source link

Filed Under: Strategy

About Asif Nazeer

My current sphere of interest is Internet Marketing - Worked for many years in finance and banking. I now consult for small businesses and starts ups. Also involved in venture capital for new companies.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Sign up for our newsletter and receive a free EBook on how to boost productivity






Find it

Blog By

Small Business Consultant and Accountant helping grow your small business Read More…

Follow us online

  • Email
  • LinkedIn
  • Twitter

Recent Posts

Unlock Small Business Triumph: Your Definitive Guide to Success

Small Business Topics: A Comprehensive Guide for Success As a … [Read More...]

  • Why the F&B Sector Needs Streamlined Payment Methods – Business
  • The Rise of AI in Ecommerce Outsourcing – Ecommerce
  • The Benefits of Turnkey Tech Solutions for Forex Brokers – Business

Archives

  • December 2024 (1)
  • March 2024 (2)
  • February 2024 (3)
  • January 2024 (1)
  • December 2023 (3)
  • November 2023 (1)
  • October 2023 (3)
  • September 2023 (6)
  • August 2023 (1)
  • July 2023 (5)
  • June 2023 (16)
  • May 2023 (1)
  • April 2023 (2)
  • March 2023 (4)
  • February 2023 (2)
  • January 2023 (5)
  • December 2022 (5)
  • November 2022 (8)
  • October 2022 (7)
  • September 2022 (6)
  • August 2022 (6)
  • July 2022 (13)
  • June 2022 (11)
  • May 2022 (7)
  • April 2022 (8)
  • March 2022 (12)
  • February 2022 (8)
  • January 2022 (11)
  • December 2021 (9)
  • November 2021 (10)
  • October 2021 (11)
  • September 2021 (3)
  • August 2021 (10)
  • July 2021 (12)
  • June 2021 (5)
  • May 2021 (10)
  • April 2021 (17)
  • March 2021 (40)
  • February 2021 (39)
  • January 2021 (58)
  • December 2020 (66)
  • November 2020 (59)
  • October 2020 (34)
  • September 2020 (47)
  • August 2020 (37)
  • July 2020 (2)
  • May 2020 (1)
  • April 2020 (1)
  • March 2020 (33)
  • February 2020 (25)
  • January 2020 (20)
  • December 2019 (27)
  • November 2019 (28)
  • October 2019 (34)
  • September 2019 (38)
  • August 2019 (13)
  • July 2019 (44)
  • June 2019 (40)
  • May 2019 (58)
  • April 2019 (51)
  • March 2019 (43)
  • February 2019 (44)
  • January 2019 (43)
  • December 2018 (47)
  • November 2018 (43)
  • October 2018 (58)
  • September 2018 (44)
  • August 2018 (60)
  • July 2018 (49)
  • June 2018 (58)
  • May 2018 (54)
  • April 2018 (39)
  • March 2018 (46)
  • February 2018 (48)

Topics Covered

business consulting business growth business management business marketing business strategy business topics small business small business success small business topics

Biz Opps

[ad_1] Featured image by Blake Wisz on … [Read More...]

[ad_1] Are you looking for the best ways … [Read More...]

[ad_1] Featured image by … [Read More...]

Customer Focus

[ad_1] First published in Exchange, the magazine … [Read More...]

Entrepreneurs

[ad_1] Uptown Cheapskate is a resale … [Read More...]

[ad_1] A team of neuroscientists in the … [Read More...]

[ad_1] This article was translated … [Read More...]

Strategy

[ad_1] If you buy something through our links, we … [Read More...]

[ad_1] In helping celebrate Black History Month, … [Read More...]

[ad_1] ZOHO started its current Email Marketing … [Read More...]

Supply Chain

[ad_1] Although managing inbound shipping can be … [Read More...]

© Copyright 2015 iSmall-Business.net · All Rights Reserved · Powered by ISmall-Business.net · Admin