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Most small businesses begin at home. Microsoft began in Bill Gates’ father’s garage. And Facebook started in a college dorm room. There are a few reasons companies tend to withdraw from the ground up regarding location. For most startups, your home cuts cost by being a cheap, accessible option for housing your business. Running your business at home also offers much flexibility to work. Creativity strikes anytime, sometimes even in the middle of the night. As a home base, it also provides a lot of conveniences.
At some point, however, your small business grows to the fact that you have to think about moving out of your home and into an office space. How do you know the time is right to do this? Here are the telltale signs that your small business can make a move from home office to office space:
1. You Are Scheduling Too Many Meetings With Clients Off-Site
Your workspace at home is pretty small. And, it is not set apart from the “goings on” of the household. Some distractions and interruptions make you uncomfortable. So, more and more, you are meeting with clients over lunch at a restaurant, at a coffee shop, or only at their offices. You need a professional space where clients can visit and meet you, even if only for your reputation as a business. As you gain more important and prominent clients, they will expect you have an office, not a tiny room in your home.
2. You Need To Add Staff
Growing means that administrative and management tasks become more complex and take up more of your time. You know you need to add additional staff to the team, and now you can afford it. The problem is this: where do you put them? Can you divide the small home office space to accommodate additional furniture and equipment? Probably not. It is time to look for some distance outside of your home.
3. Your Business Requires You To Be On-Site Somewhere Else
This is not the case with every business but with some. Suppose, for example, that you are a property manager or developer. You began small out of our home. Now, a prominent developer has contracted with you to manage the sales/leasing of a large residential project. Or, as a developer, you are ready to begin your first significant project. It’s a project that will take your business to the next level. To meet those clients’ or customers’ needs, you will need an office on-site that is staffed with the right personnel to receive potential buyers/renters. Having an office tells potential customers that your company is professional and trustworthy. Smaller operations may be run from home, but this is just too important.
4. You are Generating The Revenue To Warrant Office Space
You are finally generating the revenue that is bringing in a good profit. It is time to consider expanding and venturing into new, related areas for your business. You want to seek out investors, partners, etc. When you plan for this expansion, you will need the space and the staff to do so. As much as collaboration can now occur with remote staff members, it is still a bit “sketchy” to professionals who may be interested in collaborating with you in your new growth phase. Having an office with on-site staff projects an image of stability and permanence.
5. Distractions Have Become Too Much
Your kids are growing older. They may be at the toddler stage where everything in the house is “fair game,” including your office. Likewise, they may be elementary-aged with friends over a great deal of the time and are noisy in their fun. They may also be teens blaring music or playing video games with friends. Whatever the case, you find yourself distracted by the comings and goings, the interruptions, and the noise. It’s time to look for space somewhere else – a place where you can be during the day to focus full-time on your business. This does not necessarily mean that you have to give up your home office – it will be there when you need to work evenings and weekends – just not during prime working hours when it’s better to be somewhere else to avoid household distractions.
6. You Are “Bending” Local Laws And Regulations
Most communities/cities have regulations related to home businesses – what types of companies can be run from home and which classes need to be located elsewhere. For example, if you are a freelance writer, you can stay in your home permanently. Suppose, however, that you are a tax accountant and, especially during tax time, clients are parking on your street and taking up space that residents feel should be reserved for themselves. Or, suppose you have a large home office accommodating a few staff members. They are parked on your street all day, every day.
In general, cities have laws regarding how many employees you can have in a home office and a revenue cap. Some homeowners’ associations have even stricter regulations. If you are “bending” those rules, you may be called on, as neighbors begin to notice and complain. Be a good neighbor and follow the “rules.”
7. You Feel Isolated
Working at home can be a lonely endeavor, especially for people who are “social.” Some people are more productive when others are around, when they can take a short break to chat, or when they can bounce ideas back and forth. If this sounds like you, it is time to look at some office space. The newer concept of shared office space is also a good one. Several small business owners can collaborate, rent an ample space together, and subdivide it into their own offices. This adds a social dimension that you might appreciate.
8. You Want To “Feel” Like A Business Professional
Sometimes, it’s hard to have that feeling of being a successful business owner when you spend your entire day at home – it’s psychological. Feeling good about your business and capabilities is essential for your enterprise to grow. It would help if you had the motivation to have a “real” office.
Ultimately, it’s an individual choice.
Only you know your circumstances, personality, and faith that your business will scale regularly. And only you know what type of office space you have at home, how large, and how removed it is from the daily operations of your family. Some business owners have an entire wing of their homes and enough space for additional staff; some business owners can operate solely from their homes because the business is entirely web-based and clients/customers are remote. But if you face any of these eight situations, it may be time to make that move.
