Starting a new business can be overwhelming because of all the decisions that must be made. One decision that can make a big difference in the initial success of a new business is whether or not a physical office is required in order to operate the new business.
As technology grows and evolves, it is possible for workers to be anywhere and to be able to be productive by leveraging new applications and communicating with each other and customers by using virtual meeting technology.
According to The Time Doctor, it is not necessary to have an office in order to manage a successful business.
Imagine a new business that is not encumbered with monthly rent obligations. Now also imagine that the business is every bit as productive and that there are cost savings per month that can really add up. These capital funds can be used to resource other business necessities such as software that could be used to operate the business from anywhere.
Physical space where people work together has some advantages. Chances are, the biggest advantage is the social aspect. But is that enough to warrant several or many thousands of dollars per month to lease space in a building?
Many successful start-ups never had office space and stayed that way to this day. Other companies started by working virtually and eventually migrated to office space. Therefore, it is possible for a new business to function successfully without having all of the employees collocated in the same building. And in fact, a recent study conducted by Stanford has found that teleworkers are more productive than their office counterparts. Telecommuting technology is abundant and allows teleworkers to be productive employees.
Transacting business with customers is also possible due to many enhancements to e-commerce capabilities. Today, setting up a company virtual store that does not require brick and mortar, but relies instead on a superbly crafted catalog of products and services on a company website can be a viable alternative.
Considering all of the options that are possible with software and applications, one of the first and most crucial decisions for a new business regarding the need to house all employees in a single physical space could simply be eliminated and replaced instead with a virtual workplace that has the potential to be every bit as productive.