You chose a shared office space because you wanted a smooth entry in the business market for your start-up. Good choice! You got a lavish entry into a business centre to ply your business from a prime location. That’s just not all. All your hassles of recruiting a front office staff was taken care of by the facility provider.
Pat your back for such a prudent decision. But, do you also realize that it’s time to reconfigure your settings? Has your business reaped the desired results for an initial push in the market? Is time now ripe for expansion? Will moving on from a single occupancy to a team be a wise decision to make? All these questions boil down to a single one: When is the perfect time to realize that you have outgrown a shared office space?
For firms that are small, this will be a decision that can never lurk in their mind. Bearing the expenses is the main problem. However, if your business has catched-up sooner than expected, then, searching for one’s own office space is a decision that can bring your business activities to a halt.
Our shared office space in Gurgaon and Delhi is a popular option amongst entrepreneurs and MNCs who have chosen us for a temporary office space. Upgrading to a full-fledged office space is a question that knocks the doors of many professionals who are in a need of one.
These three key questions should help those in the dilemma of staying or upgrading their office space:
If it is a temporary growth that your start-up encountered, then envisaging a report on these figures should not be the right decision to make. Every business has a boom period as well as a lean period. If this is a seasonal growth, then a shared office space suits you hands down. However, if you need a space to expand your core team then a serviced office should bring a better return to your business.
To test how deep the water is, you got to be inside it. Beware, you may not become a prey. To avoid such a situation, you ought to determine your financial strength. Will you be able to afford and maintain the expenses of your staff? Will your business standard remain the same after you plan to take a space of your own? Bidding good bye to a business centre may not seem easy as you think. You are elevated to a status that needs a lot of expenditure to incur when you are at an initial stage of setting up your own office from a scratch.
All the above two pointers can still be pardoned off, but this one cannot. Changing the location of your business is a serious thing to do, especially when you have not yet outgrown the shared office environment. At a stage which is still blooming, plucking it from a place may not transpire life into it after relocation. Business works on networks and employees. Losing any one of them would not reflect a good sign in the market.