The home is fast becoming one the best places to start a business. You get the chance to test it out, deliver your services, your brand identity, and your market with minimal costs. Most business owners, however, want their business to grow. If yours is growing, then at some point you have to consider whether your own home is the best place to keep growing it. But how do you know that moving into an office is the right step?
Will the company sustain it?
Out of all the startups that fail in their first two years, the majority do so because they were unable to scale properly. Some don’t do it when they have the opportunity and stagnate. Others, however, do it way too early. Make sure you’ve identified the evidence you’re ready to scale. Are you seeing enough return on investment to call the business a success so far? Are you able to retain the majority of customers? Is the way you do business replicable on a bigger scale or will you need to change some fundamental operations? If you don’t have answers to these questions, you need to think about them at home.
Do you have a plan?
You might be excited to start growing, but you need to pull the brakes before you get the train taking you to parts unknown. How is your business going to handle the physical aspects of the move? Do you have the help of one of the many office moving companies to set you up? Do you have the furniture you need? The tech set-up? The budget for it all? Make sure you plan out every cost and every step before you start packing up your stuff.
Are you ready for the responsibilities?
When you scale the business into an office, there are certain responsibilities that come with that. The creation of a safe, healthy, and happy work environment is obviously the most important one. But it’s not the only one. What will the office really need to make it a useful tool for you and your employees? How will you brand it? How will you set up your IT system? What layout will best fit the workflow of the team? You can’t afford to find your feet as you go. You need to be ready for the responsibilities awaiting.
What comes next?
Your business will experience some down time while it touches down in its new environment. Once you’re in there, however, you have to hit the ground running. You have bigger overheads to consider, after all. Set goals long before you get to that stage. Figure out how much you need to grow your client base. Figure the advanced marketing methods you need to find them. Calculate how much you have to invest in the brand to bring it up to the next level. Take advantage of the momentum that the move gives you and look at where you have to grow to next.
It’s about scaling the business, sustaining the model, and managing the actual process of the move. If you can do all three, your move shouldn’t be a difficulty but just the latest in a line of successes with plenty more to come.