(This is a contributed post)
There’s nothing more exciting than expansion as a business. Growth has always been something to strive for in the business world, particularly as growth often equals more profit, more demand and more success for your company. While there was always the illusion that a large and fancy office meant that you were successful, it’s not actually the case. Leasing a huge space can feel like you’ve arrived; you’ve got the swishy doors and the security and the muted grey and chrome theme in your office space. Clients love it, customers love it, and the view from the thirtieth floor is spectacular. However, your bank account doesn’t always agree that a large office with swishy doors is the way to go.
Office space costs an awful lot of money, especially if you’re leasing prime real estate in the city centre. You’re paying insurance, tax, rent per employee and then you have to furnish the place, add salaries for your staff and then you need to think about the security you’re paying for. It mounts up and up and up, and before you know it, you’re in the red and owing more money than you’re bringing in. While I’m not painting the prettiest of pictures, the future of your business is going to depend on how you manage your office space, and downsizing could be the way forward for your company. This doesn’t mean shrinking back from growth, but you could decide to let go of the office you’ve rented.
You can choose to do this in many ways, but it’s really going to help your business to be less wasteful. By allowing staff to work remotely from their homes, you’re going to reduce the amount of rubbish your office uses. You’re going to save money on recycling overall and you should ask yourself: have I got office or business junk to remove? Downsizing often means clearing out the old furniture, recycling the materials and having the rest taken to the rubbish dump. Without employees commuting in every day, you’re no longer going to need to host them in the office, so, you can sell on the furniture and tech that you won’t be using.
By recognizing what you actually need from your business, you can downsize and expand at the same time. You can expand further online instead of in an office. You can utilise Skype and Trello to group chat and communicate projects with staff. If you absolutely need to have an office occasionally, you can hire meeting space for an hour or two at a time when you need to gather the masses together. The benefit of remote working for your employees will make them far more productive and happy, and they’ll usually work better and for longer while you’re saving cash not spending your money on rent anymore. Your business doesn’t need a huge office to prove that it’s doing well; you simply need to take your time and consider whether you need the office space to be a success.