Many business owners believe that once their company gets a swanky building or office floor of their own (preferably with a gorgeous corner office all to themselves), their brand has made it big.
But leasing an office space can cost a lot of money. You have to think about rent, utilities, as well as other overhead costs like insurance and transportation for employees, and so on. So, while it’s a great way to elevate your small business to a big brand, that big an investment could hurt you in the long run.
Having a virtual office might be the solution to this problem. It helps you save money while getting a lot of the benefits of the glitzy office space of your dreams. Not only that, but you could end up raising approval ratings and employee satisfaction for your company. We’ll tell you why in a sec.
So if you’re thinking about whether a virtual office space would be a suitable next step for your business, stick around. Circle Hub is about to explain everything.
What is a Virtual Office?
Since the concept of the virtual office is quite new, many people often confuse it with space rentals. While the latter may not be as big an investment as buying an actual office space or floor, they’re still pricey and might need a lot of effort to maintain. A virtual office is a lot less stressful than that.
Basically, a virtual office allows you to put down a real, physical place as your company’s professional business address or official headquarters, even if you’re not technically holding office there 24/7.
You also get office-related services. These can include a mailing address, conference rooms, and sometimes even a receptionist that can take your calls for you. It essentially functions like the swanky office of your dreams, but the entire time, you and your employees are working remotely.
A virtual office gives your company the prestige and glamour of a huge, reputable company by having your own professional business address. However, it still allows you and your workers to be flexible about where, when, and how you work. You can work every day at a café, park, or even by the beach!
Of course, you can also work at this physical virtual office if you really wanted to. You can use the space only on select days, like when you need to meet some clients in person for a big meeting or want to have a team-building event with your workers.
Build Credibility and a Feeling of Big-ness Around Your Brand
You can build your business’ credibility using plenty of techniques, from developing top-notch products consistently to showcasing your achievements and milestones on your brand’s public channels. But for start-ups and small companies today, building the image of your brand is key.
There are many benefits to getting a virtual office, but the professional office address is perhaps the biggest one. It boosts your professionalism and will make it easier for potential clients to respect and gravitate towards your brand. It’s a move that will empower you, your company, and your people.
Circle Hub’s virtual offices are located in California, a business-driven and tech-savvy state that is home to many of the biggest, most innovative brands in the world, from Apple to Disney. If your business is listed as holding operations in this area, it’s pretty much a surefire way to get noticed by the big guys.
Having a virtual office in California is a smart way for small businesses to take their company one step higher so that potential clients and partners can take them more seriously. So, if you’re working from a small town or basement but are committed to putting your company on the map, this is the way to go.
Not sure if a virtual office is for you and your company? Here are some questions you should ask yourself to help you decide if it’s worth a shot:
Is Cutting Costs One of Your Business’ Key Goals?
One of the most stressful things about having your own physical office space is scouring money for rent or loans. Just acquiring a property on its own can be super frustrating. After all, since more and more businesses are opening up in major states and cities, prices inflate to ridiculous proportions too.
Even when you do find a place to call your office, you have so many other utilities you have to think about paying. This includes water, internet, electricity, mobile phone lines, office supplies and printers, and more. These will make your costs blow up, and you might bite off more than you can chew.
But if you go for a virtual office, you’ll only pay for one fee that covers the address, rooms, and utilities. Plus, since you and your team will mostly be working remotely, you won’t have to pay for huge private spaces. This is a big deal because exclusive work areas can be very expensive.
You don’t have to think about the expenses you’ll cover for your workers too, like refreshments, supplies, or transportation allowances. No renovations and repairs either. A virtual office technically doesn’t need to be staffed too, so you don’t even have to worry about security personnel.
Having property also affects your business’ taxes. Utilizing a virtual office actually cuts down your taxes.
Since you have a work-from-anywhere set-up on most days, you can hire more freelancers instead of full-time employees. That means fewer expenses for insurance as well.
Can Your Employees Do Most of Their Work Remotely?
Opting for a virtual office will save you a pretty penny — and it gives your hardworking employees the same luxury.
Since the global pandemic started two years ago, many employers have set up a work-from-home scheme to help keep their workers safe from getting sick. Big-shot companies like Apple, Facebook, and Google were among the first to do this, and other companies simply followed suit.
But being safe and healthy isn’t the only benefit of working from home. It also helps each employee save more money. As long as they can do all their core work remotely, they won’t have to come in and spend extra on their daily commute or takeout meals.
Plus, employees who are parents will get extra time with their kids. Student freelancers will have more balance in their work, school, and social lives. These advantages are sure to boost employee retention in the long run.
Obviously, you can’t have a virtual office if your line of work requires face-to-face interaction, like limo services or restaurants. But if your workers can do their tasks from the comfort of their home, a virtual office would be perfect.
As long as you have apps that connect all your employees, like Zoom and other communications technology programs, you’ll be good to go.
Are You Putting Your Personal Address in Your Business Card?
If you do, it’s high time you take it out. It’s important to keep your home address private and separate from your office one. Imagine potential applicants having to address their cover letter to an apartment, or getting so many work-related packages taking up space on your front porch.
Just because you’re working from home as a business owner, it doesn’t mean you can just blur the lines between work and your personal home life. Your house is for you and your family. A virtual office business will help you compartmentalize this.
When you get a virtual office with Circle Hub, our California-based facility will be your official business address in correspondence, bills, packages, and mail. You can then pick up the mail yourself whenever you have the time or coordinate with us to have shipped or sent digitally to you, wherever you may be.
That means if you live in a small town in a less populous state, or living as a digital nomad on a gorgeous, tropical island in Asia, your business can still function as if it were headquartered in the esteemed state of California.
Are You Hoping to Boost Productivity Among Employees Amid the Pandemic?
Where your employee’s work can be a slippery slope. They can either be burned out if they travel back and forth to an office every day for their 9-to-5, but they can be just as stressed out from cabin fever if they’re stuck at home.
Because of in-office burn-out, it’s been found that 39% of adults in the US might consider resigning from their current job if their employer won’t let them work from home. On the other side of the spectrum, being stuck at home with no social work events can also take a toll on mental health.
A virtual office strikes a delicate balance between the two. Your workers get freedom and flexibility to work from home or their favorite café while spending less. However, they get to network and put their best foot forward when they come to the virtual office for presentations and meetings.
This balance boosts employee happiness and productivity, making your business run very smoothly.
Do You Have Only a Few Pertinent Meetings Each Month?
Although we’ve talked mostly about working remotely while maintaining a virtual office, don’t forget that you can use your office whenever you please. This is perfect for important meetings with clients, or big presentations that have a lot riding on them.
Renting function rooms at hotels or event spaces just to get through one meeting can cost you a lot of money. On the flip side, you can’t risk tarnishing your company name but asking your big clients to meet up with you in a tiny warehouse or casual restaurant to hold a high-stakes call.
With a virtual office, you can use your space any time you want, whether it’s for a client interaction or if you’re simply in the mood to be in a co-working atmosphere.
At Circle Hub, there are many conference rooms you can rent out and use for your pertinent meetings and calls, especially when you and your team have to be together in person. These rooms come with high-speed internet, a flat-screen TV, complimentary beverages, a break room, and more.
Are You Looking to Network with Like-Minded Businesspeople?
As a businessperson, you probably already know that forming connections with the right people are a must to survive in the industry. This is what’s also known as networking.
Your business is only as good as your network, aka your list of contacts and partners that you can tap whenever you need assistance or collaboration. But this network of contacts doesn’t appear out of thin air. You have to get out there and make genuine connections with like-minded individuals.
When you network well, you’ll be sure to land tons of business opportunities that you wouldn’t have found by yourself. But how do you network when you have a virtual office?
Easy. At Circle Hub, you have access to the facility’s common areas. That means you have so many chances of making new friends and contacts from all sorts of business fields.
Simply hanging out in the break areas of the building might ignite a fire with an acquaintance and get a joint venture or project going. It’s a great way to maximize your virtual office subscription while getting your name out there and handing potential partners your business card.
A virtual office can benefit your brand and the dedicated employees working under it in many ways. It helps you cut down on costs and gives a feeling of big-ness to your brand while ensuring your employees are happier, safer, more productive, and more in tune with their work styles.
If you’re ready to turn your small biz into a bigger, more reputable brand, investing in a virtual office is step one. Not only will your new office address help your business grow directly and indirectly, but it’s also sure to wow and impress your stakeholders.
Ready to make the big “move” to a virtual office? Don’t hesitate to reach out to us so that we can get you started with one of Circle Hub’s monthly or yearly virtual office plans.