Many of the world’s largest most successful companies in the world began right at home- Amazon, Apple, Hewlett-Packard, Google, and Walt Disney Co to name a few. But as they grew and hired more employees, they moved out of the basement, garage, cramped home office, and into an “real” office space. So, the question is, when exactly is the right time to move from a home office to a rented office space? Well, it depends. There are several logistics to consider before making any decisions.
Can You Afford It?
Can you afford to move out of your house? Moving to an office is going to introduce several new monthly costs like rent, utilities, etc. However, moving from your house could potentially increase revenue. For example, Jeff Bezos started Amazon out of his garage. Before moving into an office, he met with clients at a local Barnes and Noble. If those clients had seen his beginning operation, they likely would not have been interested. Sometimes a home office is simply not a professional environment to be meeting with potential clients. If moving to an office could increase clientele, then perhaps it is worth taking the plunge.
Running Out Of Room?
Is space an issue? Not only can working from home be very distracting, (due to proximity to the television, refrigerator, couch, kids, etc.) if you are hiring employees, space is likely to be an issue. A disorganized and cramped work space is going to be a big hindrance to productivity. Consider the amount of space when you are looking and ask yourself if it’s enough space for you, your employees, and customers.
Do you feel isolated?
Operating a business at home can be very lonely when going long periods of time with little human interaction. Some people are much more productive in an office environment. If this is the case for you and your business, then consider moving into a shared workspace where you can rent offices and rooms for meetings.
Find What Works
Every business is different and therefore has different needs. After careful consideration and financial planning, it may be time to move out of the house and into an office. Don’t be afraid to take the step! Entrepreneurship and building a business can be risky, but well worth the reward.