Do you need an office?
Offices are one of the areas where many businesses tend to overspend because land value and office rent is high.
So, I’m going to ask that question again; Do you really need a dedicated Office for yourself and/or your team?
Could you try something more alternative like co-working spaces, shared spaces, or having your team work from home (which is what we do here at Annette&Co.) because this alternative could free up a lot of cash within your business without affecting productivity or impacting your business in any way.
Yes, it might mean that you’d need to learn how to work virtually with your team and clients but that’s perfectly ok! It doesn’t matter what others are traditionally doing within your industry you can go against the social norm if you want. What’s holding you back from making the change and saving your business money that could be spent elsewhere?
As mentioned above, my team work from home; we have no physical office. But for me, that wasn’t a financial but a lifestyle decision.
I’ve seen other businesses break ‘tradition’ and adopt a more alternative way of working saving them thousands of pounds per month.
But it’s not all about financial freedom.
I’ve found that my company structure provides so many benefits giving my team:
It’s given my team the flexibility to meet their family’s needs (being a wife and mother of two this is something that is really important to me).
It reduces staff resentment over the summer! Instead of being stuck in a hot office with no air conditioning they have the freedom to work from wherever they like.
It cuts out the stress and cost of commuting during rush hours which is also kinder to the environment.
It reduces employee burnouts and allows team members to work when they feel most productive (Are you an early bird or a night owl?).
My new Head of Marketing splits his time between Cornwall and London…at the end of the month he’s decided to take a 10-day working trip across Poland and Germany!
He’s come to us from an office based position in London so I decided to check-in, to see how he is finding ‘working from home’:
‘Coming from a busy office lifestyle in Chelsea, I love this alternative home-based way of working! It allows me to have more control over my schedule and working environments while improving my health,well being and mindfulness! Who’d have thought I could sit on a bench looking at this while working away?’
I’m not saying that this way of working would work for everyone because like all things in life, they have advantages and disadvantages…Only you can decide if you really need an office.
However, where there is a problem there is always a solution! Mine was finding a project management system that works for everyone 😉
Please, let me know your thoughts.
Do you really need an office?
Thanks ever so much for taking the time to read my post I truly hope you’ve found it useful and insightful. If you have any questions feel free to contact us!
I am Annette Ferguson, CEO of Annette & Co. Chartered Accountant, Profit First Professional and creator of the Business Wealth Engine. We’re also SUPER social so don’t forget to follow. Here’s to your success!