For entrepreneurs who are just starting with their business, it would be a good idea to go for shared offices. In this way, you don’t pay that much rent but you have a place that you can welcome your clients. As your business grows, you might need to expand not only your business but your office as well. For most new entrepreneurs who are in a shared office, it can be a difficult decision to move out and rent an office on your own. Some are afraid that they can’t stand alone while others prematurely go on their own and end up being hard up at it.
For small businesses who don’t really have a lot of employees, it is best to stay at a shared office but for those who have already lots of employees and are continuously increasing, then there may be a need for you to move out and get your own office. Here are some of the things you should ask yourself before you decide to move out of a shared office and get an office on your own.
1. Is the growth you observe temporary or do you see it as long term?
It is important that you determine whether the growth you are observing is just temporary or would last for a long time. For some business, there is a time when they see that they are so busy and there are so many customers but it returns back to normal after a few months. This is what many people would believe as a temporary growth. There is growth but is not constant and only for a season. In this case, it would be best if you do not leave the shared office but find a way to increase your space when this season comes so that you will be able to accommodate all of your clients.
2. Is that office space within my budget?
As a startup business, you have to make sure that you minimize your expenses and one of the ways you can do that is through shared offices. If you want to move out of the shared office space, you have to know first if you can afford to rent an office space on your own. Remember that although you will be getting much space, you will also be paying for more. You also need to provide amenities that your previous office provided.
3. Are you ready for it?
Some people say that they are ready to face the challenges that they would face because it is just normal to have problems at first but why should you let yourself be in trouble when you can avoid it in the first place. You have to be ready not only on the financial side but with everything. You shouldn’t do things abruptly because you might lose your previous customers because you are moving out of an accessible Houston office space for them. Have you already informed your clients about you moving? This is important so that they can still find you when they need you.