The Future of Workspace, no offices! Particularly starting with the burst of the real estate bubble in 2007, businesses realized how vulnerable they become if earnings are not made as they used to, but the expenses to operate remain the same. The goal of a company is making profits, not spending money on avoidable expenses. Staying flexible and being able to counteract on shrinking income and reducing high cost is what can make a big difference. Even large companies have their workers operate on a more virtual level, without coming to an office at all or just randomly. The money saved on workspace can be invested in lead generation and productivity items to further build momentum. The usage of cyberspace meeting rooms where participants can virtually meet from all over the world is utilized to get the feel of co-workers meeting physically. Important key for a company is that workers do their job, not where they do them. It is the realization of achieving results instead of spending time in the office. Many professions already require workers to be on "the street", at the same time they need the flexibility to have access to the pertinent information and documents. Regardless if you work in sales or technical services, communication with the back office is a very important part of satisfying the customer with a speedy and professional workflow. Access to a company server and a virtual support administrator, can warrant that workers are connected at all times. The future of workspace does not require an office, just a virtual place where we can all connect and exchange data, information and documentation. Contracts are signed electronically and money is collected through near-field communication or credit card. Ever evolving technology makes it possible that we save time, overhead expenses and realize a faster, better way to satisfy today's educated clients. In order to compete with the consumers demands, businesses need to stay flexible and operate cost effective. Reducing expenses by utilizing technologies and co-working offices is the future of workspace as we know it.
The benefits of choosing Shared Office Space
The benefits of shared office space are obvious for various reasons. Traditional office requirements are always one of the major overhead cost a business has. A cost which in slow times needs to be covered from reserves or even private savings. However you are operating a business in the first place to be profitable and one of the techniques how to do that, is by cutting or limiting the cost of your expenses. Traditional office space is very costly and requires long term commitments in form of typical 1-3 years lease term agreements. Additionally you need cash to buy furniture, telephone equipment, maybe you even want to get a contractor to build out some space to your specifications. A kitchen would be nice and a conference room, of course you need space for a reception area, which also requires a paid receptionist. When you are at the beginning of starting your business and you have frequent customer contact, spending money to get your own office can rise to tenth of thousands of dollars, considering security deposits, build-outs and equipment. Shared office space does not require any of these cost and therefore has become an extremely attractive alternative for companies. Not only start-ups are using co-working space, but also many professionals and larger companies who utilize it as a satellite location. The way a business center usually works, is that a large office space, likely a whole floor of it, is converted into multiple smaller to mid-sized units and several conference rooms. It may have a shared open space for single workstations and a break room for soft-drink and coffee services. The shared office space is than operated by the landlord or management company, fully staffed and furnished. The shared receptionist can be used to have your individual company phone answered. The executive offices can be occupied on a monthly base or just by the hour or day. Meeting rooms can be rented in the same way, oftentimes they are just needed for a few hours. In a summary the benefits of shared office space are No long term agreements Can be scaled up or downsized in any way No initial cost for furniture, build outs or equipment No cost for security, insurance or large deposits Turnkey solution, allows to occupy space within hours Management and administrative staff on side, representing you in your companies name Virtual Office plans available for below $50 for anybodies budget
Purpose is the why behind everything you do
People often ask me "What is the ultimate secret to running a successful business"? The answer is many things, but I believe the strongest force behind becoming successful with your business is finding purpose. I knew a lady which was successful in many aspects, but at the time her main concern was to loose some pounds. After having children and doing a lot of office work she put on a significant amount of weight which she thought she needed to loose. After setting up a nutritional plan and an exercising regiment, the only thing she had to do was to follow through. For a couple of days it worked out fine, but eventually she started to skip meals, did not show up to the exercising classes and started eating what she craved. The little weight she lost was gained back in no time. The question came up as to why people give up so easily on their dreams and goals, particularly if they already had a coach to guide them through. The answer was that her "why" was just not strong enough, her purpose to really want to loose the pounds was not there. So the fitness trainer changed the strategy and showed her an article about children in the USA being obese and that statistics showed that this was to a great extend the responsibility of the parents. Themselves setting a bad example in terms of their own eating habits. Her daughter was already on the way to put on some extra weight, so she literally became so outraged about herself, that she eventually lost more than 100 pounds. You see her perspective on the importance of her loosing the extra pounds had changed, her "why" became stronger. What was not so important for herself, now shifted to setting a good example for her daughter. She all the sudden had a purpose strong enough, allowing her to follow through. This little anecdote you can transfer directly to the question about the relation of business and success. If your "why" is strong enough, if you find a reason that does not allow failure, than you wont give up until success becomes a reality. If your focus shifts from just making money to a more fulfilling reason, something what makes you happy while you do it, something you want to accomplish, not just for you, but for those you love. Than your business is not just means of making a live, but it becomes your lives purpose. This is the reasons why you must become clear about what you really want, before you start your business. Write down in detail what it is what drives you, what makes you feel fulfilled, what serves you, others and the higher good? If you can answer those questions and your "why" has become bigger than any excuses, than you find the drive, motivation and willpower to succeed.
How to be an Entrepreneur
Becoming an entrepreneur today is easier than ever before and at the same time it is not. True, access to information, how to guides and free advice can be found fast just by searching the internet. At the same time this also causes the problem of information overload, discouragement and inability to get started at all. In my eyes it is therefore good to start with the true definition of entrepreneurship in order to understand what the ultimate goal is. Simply said being an entrepreneur means “Having the ability to create a profitable, commercial enterprise which works, without you” This very short and powerful statement will bring you on the right path of creating an entity worth your time. Go back to this basic statement every time you struggle and remind yourself what you need to do. While this will always allow you to keep the ultimate goal in mind, there are many other ingredients to entrepreneurship. Learn before you earn You have what it takes, otherwise you would not want to be an entrepreneur in the first place. You have a dream, an idea and are ready to execute it. Now there are specific things you need to know about being in business for yourself and they are not necessarily being taught. If you operate on a tight budget you need to study a lot of the basic business skills yourself, this takes some time, but is well worth it to avoid costly mistakes later on. Visit networking opportunities and surround yourself with like minded entrepreneurs. Ask questions, keep an open mind and read as much success literature you can get your hand on. Learning from people who have accomplished what you want is the best way to set yourself up for success. Think like an entrepreneur If you have been an employee until now, you are conditioned to think and act like one. However, If you always do what you have always done, you will only achieve the same results. A typical entrepreneur is the driving force behind the company he / she builds. He / She always has the complete overview, leadership abilities and motivational attitude. As a business owner you think in profits, not in wages, you have a can do attitude and a convincing personality. People follow you, trust you and acknowledge you as a leader. You have a clear vision of your goals and the ability to communicate it, your faith is unwavering, you just know for certain that success is your birthright. You are considered crazy by the majority of your close friends and family members and they will try to pull you back or slowly disappear from your life. This is just to prepare you for what awaits you on your path to entrepreneurship and that is only the beginning. Dream bigger than you ever have As an entrepreneur you have to have big dreams. Most people want to start little, just to make sure they are not losing to much money and avoid failure. If you think like that, you are already setting yourself up for failure. You are subconsciously acknowledge that failure might be a possibility, frustration will be your constant companion. Don't get me wrong, you will fail, probably many times, but instead of expecting failure, make it your friend. Appreciate failure as learning lessons, the only person who ever really fails is the one who stops trying. This should be the lesson behind failure, but nothing else. So why not dreaming big and set your company up as large as you can imagine? It does not have to be at the beginning, but can you envision it? Trust me the larger your idea is and the more passionate you are about your dream, the easier it will be to attract investors to your business. As an entrepreneur you are a problem solver. You have the ability to foresee what peoples demands and needs are. You than establish a system to solve these demands by either creating a product or service. Never, ever give up It does not matter how many times you have to try, what matters most is that you find a way to never ever give up on your dreams. An entrepreneur does not have to have all of the knowledge about how to run a business by himself, you can hire specialized talent to execute that part. What you must have more than anything, is emotional intelligence combined with the ability to navigate your inner communication through the ups and down of your venture. You as an entrepreneur must find the answers, adjust, correct, lead, motivate yourself and people who work for you, as many times as it takes to reach your goal. If you will give up at any time, you will always ask yourself if success would not have waited around the corner. Just trying one more time. Keep going and never have regrets.
Starting your own Business
You want to start your own business and don't really know how? You like to expand your business, but are not sure about funding, marketing, lead generation, conversion rates and how to get more customers? Fortunately with Officentos you have found a great partner. We are here not only to help you with your office needs, but also to help you get your company of the ground. We work with hundreds of entrepreneurs, ready to give you the advice you seek, all to find in our blog section, where we frequently write about business related topics of concern for new and seasoned entrepreneurs First and foremost, before even starting a new venture you need to plan it out Have a dream that does not tolerate excuses There is a reason why 95% of new start ups going out of business within the first year. Oftentimes frustration plugs in if things are not working out the way you planned it. Guess what, things rarely work out the way you plan it. Acknowledge that as a fact and you wont stress about it. It is just our perception of things forcing us to believe that we need to accomplish everything in the first year. In general no matter whom you speak to, overnight success takes 10 years. Look around and be aware that everything in live takes time to grow, a tree, a newborn, plants, animals. What makes you think you can find the shortcut? There were many before you trying, just to find out that a strong dream combined with planning and consistent work lead almost always to success. Plan to be in business There is a saying it goes like this "Planning without action is futile, action without planning is fatal". Statistics say that people with a plan have a much higher success rate. In fact only 3 percent in general plan there lives, know what they want, why they want it and are willing to work in order to get it. If you chose something you really love to do and can monetize on that idea it wont even feel like work. Develop a passion for what you do and it wont ever feel like work. Plan your business, start with the end in mind, keep it always in front of you and make the first step towards it. You wont have to do it all at once, just do the first step and than the next and so on. Take action, every day! You must take action on your dream in order for your business to grow. Identifying the first steps you need to do is very important. A good way to start is to write it down Is a legal structure required Do you need a bank account Will you have to hire employees Do you require funding Do you require office space or a virtual office to start Who will your potential customers be, are you selling a product or service How will you market your product or service Is your product or service unique / new or will you have competition, who is your competition What will your system be to sell your product or service. How will you generate leads (Internet, mouth to mouth, networking, email marketing, flyers, tv, radio These are just some of the start-up questions for your business, but not limited to other you specifically need for your venture. Work on your business not in your business You are not an expert in everything, you likely have a certain skill set, something you are doing almost effortlessly and better than anybody else. This is what you are supposed to do, your natural talent and purpose will drive you to be the best you can. There will be task, many of them, necessary for your business to succeed, but if you try to do them all, you wont be able to concentrate what you do best.Outsource and delegate as much as you can, it is very important that you have time to actually grow your business and are not caught up all day in running it. Evaluate and Correct A captain of a ship or an airplane will have to correct its course many times, depending on weather conditions, time tables or otherwise. The path you take will change many times, but that wont matter as long as you keep your ultimate goal in mind. Sometimes you will hit a roadblock, a plateau or a big rock on your way and you must find a way to maneuver your business through it. Evaluate where you are standing often and if necessary correct the direction as many times as necessary to accomplish your goals. Being aware of the points above will make sure you start your business in the correct way. There will be many other things to consider along your way, many frustrating situation you have to overcome. Stay on course and be sure to come back often as we are here to help you get your dream of the ground
Why operate a business virtually?
Operating a virtual business becomes more and more the current and future trend. About ten years ago commercial office buildings were at an all time vacancy low and occupied for the most parts. The collapse of the housing market and the following economic difficulties, gave reason for a significant increase of office buildings starting to offer at least one full floor of shared executive office space. These problems were faced by many businesses throughout the world. While this concept is not new, the majority of the available business centers were operated by just a few companies. For example around 2003 - 2004 if you were searching for a virtual business setup or cheap office space, than you probably only found a hand full of entries. This changed drastically around 2007 when the need to cut cost forced many businesses to vacate their current offices or downsize to a more cost effective solution. Unfortunately office space is still one of the mayor overhead cost for any business and so are the employee related cost and management. Suddenly commercial offices were emptied out and corporations renegotiated their leases for significant savings. The businesses who needed to downsize started to occupy shared offices space for a fraction of the cost. Even these business centers had to adjust their prices shortly thereafter. The winners in 2008 - 2012 were definitely the virtual business centers, who quickly developed into the market. At the same time they adjusted their price configuration to a level many businesses and new start-ups were feeling comfortable with. The initial cost for a virtual office plan dropped swiftly to the $50 USD mark, giving an indication of how low the spending capital for businesses became. We can fairly say if you do the same search for serviced office space nowadays, you will have pages full of providers in all areas of the world. The concept has become a brand by itself and many even traditional office buildings have adapted, now offering several floors with shared, turnkey office solutions. It just makes sense why would you not start your enterprise in the most cost effective way? Virtual Business Centers are the new and trending providers for office solutions around the world. Many banks now require you to have a real commercial address for your business in order to open a bank account. If you have frequent customer contact, than a professional office setup is a must; however, why occupying and paying for an office full time, if you just need it initially for a few hours a week? Now you can have you fully furnished and serviced, shared corporate office for an affordable price, every business can handle. You can even upgrade and downsize anytime you have the need, as all contracts are short term and flexible. Your company is represented by our staff in your absence and the executive offices and meeting rooms are available for full or part time occupancy. You do not need to hire any personal to receive your mail, answer your phone or conduct the occasional administrative task for you. Just utilize Officentos team of co-workers to get the task done. Creating a virtual business just makes sense, you have professional presentation in a professional office setting for the marginal price tag.