As the call for the virtualisation of businesses grows louder, it is evident that virtual offices have risen to the occasion. They solve the physical presence problem while still retaining virtualisation goals.
Essentially, virtual offices were created to give businesses and startups a professional image while still climbing the ladder of success. As a business owner/startup founder, having a professional image and physical presence cannot be overemphasised. This is because credibility is important, and you need to be credible to win customers and potential investors alike.
Having a virtual office helps build that professional image whilst still being a cost-effective solution, as it’s not financially feasible to spend so much on rent/lease and admin staff to take care of the building. However, make sure you purchase your virtual space plan from a credible establishment.
These financial costs can be overwhelming for a startup founder because the cost of launching a business is steep, and lease money adds further to that steepness. To solve this problem, virtual offices come into play.
With these explanations, you might wonder why you should invest in a virtual office for your startup. There are more benefits to having a virtual office. However, before discussing that, let’s talk briefly about the meaning of a virtual office.
What Is A Virtual Office
A virtual office is a workspace that provides corporate services for businesses without those businesses bearing the overhead costs of owning the space and performing those administrative services by themselves.
It also aids remote working culture in businesses but still provides them with meeting rooms, mailing addresses, phone answering services, etc. The costs of setting up a virtual office are way lesser, which makes it popular amongst startup founders and SMEs who are looking to manage overhead costs.
Virtual offices help businesses have better branding, which increases their authenticity in the market and makes them more credible amongst customers and investors alike.
How Do Startups Benefit From Having A Virtual Office?
They become more credible to their target market.
Having a physical presence with a commercial address makes you look more credible. Operating from home is not ideal for any business as it reduces your credibility, not to talk of making you look unprofessional. This is bad business for startups, as they need to maintain a professional image to break into the market successfully.
They build a professional image at a lesser cost.
A virtual office helps you in branding your business better. This is because you have access to professional amenities that make you appear more trustworthy. Some of the amenities that virtual office services provide are;
- Business address— gives you a legitimate business address in a known business hotspot, where you can receive mail packages and hold meetings.
- Local hotline— makes it easier for your customers to reach out to you and get more information about your services.
- Live receptionist— saves you the cost of getting one, as they receive your company calls and answer questions about your company. You can also opt for a voicemail service if this is not available.
- Boardroom for meetings— they give you access to boardrooms where you can have meetings with clients.
- Access to technology— some of these include video conferencing and high-tech customer service options.
These amenities help your startup give off professional vibes, making more clients open to working with you and patronising your startup services.
Reduced costs of daily business operations
Owning a virtual office means spending less on operational costs every day. For one, you’re not paying expensive lease fees. Other ways in which costs are reduced are;
- No maintenance costs, e.g. paying cleaners, running repairs, etc.
- No standby receptionist— the virtual office provides you with one, so there is no need to hire someone to do the job.
- No commuting costs since you’re working from a convenient location.
When you calculate the amount of money required for all of these, you’ll realise how virtual offices are lifesavers by being cost and business-friendly.
Employees become happier and more productive.
If you have employees who work with you, a virtual office set-up works better for them, as they get to work remotely. Not only do they become more productive, but they are also happier.
Commuting to work is one of the most strenuous thongs people do every day, making them suffer burnout and unproductiveness. With this in mind, having a remote work setting makes it better for everyone.
You have more time to yourself.
With the stress of commuting to work every day being eliminated, and the administrative duties handled by the virtual office service providers, you now have more time for yourself. You can use this time to better your company’s services, drive more sales, etc.
Work/life balance becomes more stable.
It is common knowledge that startup founders hardly have time for anything else. However, having a life becomes easier when you have a virtual office. This means that you can take care of yourself better, attend events, etc., without worrying about waking early to beat the traffic to arrive at the office early.
It improves the environment and promotes less waste generation
The fact that you don’t commute every day or have workers who do reduces waste generation, leading to pollution. If you’re confused by how remote working helps to reduce pollution, here’s a quick breakdown;
- Less fuel consumption
- Less use of electricity
- Less use of water
- Less waste generation, e.g. throwing away food wrappers, papers, etc.
There are many more benefits of having a virtual office space, and these are a few of them. As a startup founder, cutting costs is essential to keep the business afloat and generate more revenue.
Making smart choices further helps to grow your startup, and having a virtual office space is one smart choice you can make. Suppose you’re thinking of building your startup or wanting to implement advantageous policies. In that case, you should look towards investing in a virtual office space for easier operations, reduced costs and maintaining a professional image, which is essential for business.