If you are mulling over starting a new business, then don’t take office space on rent at an exorbitant rate. With a new trend setting in, you can easily get a virtual office space anywhere you like to. It will improve your ROI and profits by cutting off your day-to-day operational office expenses.
Virtual office functions as a typical workplace minus the recurring expenditures. An entrepreneur won’t need to invest much towards the office expenses if he opts for a virtual office. Before we explain how a virtual office can be extremely beneficial to growing your business, let’s analyze the meaning of virtual office.
The Meaning of a Virtual Office
The term virtual office is a combination of two words, “virtual + office.” It refers to an office setup that has both the feature of an office and remote working as well. The technology and other sophisticated gadgets facilitate most of the office-related work but a virtual office continues to serve as an important link for official communication.
The virtual office space allows you to receive important official mails (that require documentary evidence) at the office itself. You can personally collect those important documents from the virtual office at stipulated timings. These offices hire several experienced professionals for managing business calls and back-office operations. They will also manage your business-related calls and can receive important documents on your behalf whenever you need.
Key Benefits of Virtual Office over Traditional Workplace
1) International Presence
If you have always dreamt of having your business office located at exotic locations abroad, then virtual offices will fulfill that dream. Even a few decades back, it seemed impossible. These days, you can easily have an international business address of various locations like London, Madrid, Cape Town and other places for official correspondence through your tie-up with a virtual office service provider.
2) Facilitate Remote Working
The primary benefit of having a virtual office is to facilitate remote working. It means your staff works as a team while they remotely carry out their professional duties through various technological apps and gadgets. You can also arrange an occasional one-to-one meeting with your staff or new prospects at such offices.
3) No Operational Cost: Launching your own office in brick and mortar mode means you are going to incur a lot of office expenditures on a frequent basis including electricity bills, stationery and beverages. But you can easily get a coworking office space on rent at a far lesser cost. Thus, you can easily save your daily office expenses towards other business-related activities like running a business campaign or cost relating to new lead generation.
4) Work Flexibility: These days, work-life balance has become a major issue for staff. Believe it or not, but several candidates don’t opt for a regular office job as these lack flexibility and freedom. These candidates always prefer remote working job profiles. In conventional workplaces, maintaining fitness and work-life balance isn’t possible. Commuting from home during peak office hours is another big fight that every office-goer has to face day in and out. Considering these factors in mind, we can safely say that the virtual office is indeed a game-changer.
5) No Additional Expenses on Technology: The biggest advantage shared office spaces is the fact that an entrepreneur needs not to invest much in rent, technology, gadgets and software up-gradation. Through virtual office mode, his entire team will work from home. It comes as a welcome respite to the owner. Cost-cutting not only enhances improved ROI but also helps in offering additional perks and incentives to the employees. It enhances the level of productivity and job satisfaction among your staff.
In some cases, physical offices are mandatory like medical services providers, government offices, hospitals, police stations and municipalities. However, in all other cases, business people and CEOs can easily opt for a virtual office.
These offices bring a drastic reduction in office-related expenses and micromanagement of the organization. Such offices make the staff more responsible, productive, efficient, and dedicated.
The concept of shared offices and coworking office spaces is apt for companies that recruit creative people like journalists, content writers, digital marketers, Ad Agency, graphic designers and software engineers.