5 Benefits of a Virtual Office for Start-ups

They say opportunity knocks only once. Having an idea is just the start of what is about to follow. There are a lot of practical, real questions that face an entrepreneur before he/she takes the first step.

CAPITAL

‘Money can’t buy happiness but it sure can buy a lot of other things’

Every start-up founder, freelancer and entrepreneur has to think about money. How much do I need? How much can I get? How long before I break even? Is there a plan B if my business fails to take off?

Keeping subjective issues like material and employee salary aside, one of the biggest expenses a start-up founder will have is office space. To give you an idea, property consultant CBRE did a survey in 2016 on office locations around the world, Connaught Place in Delhi ranked 9th globally with a rent of $105.71 per sq ft. Mumbai’s Bandra- Kurla Complex ranks 19th on the list.

COMPETITION

According to a report published in 2015, India has the third fastest growing base of start-ups worldwide. More than 65% of the start-ups are located in NCR, Mumbai and Bengaluru. Nearly 3–4 startups are found every day. With a level of competition this high, you will be one of the many struggling to get space in our already overcrowded cities.

The future may look slightly gloomy but don’t worry, there is hope for start-ups yet.

CO-WORKING

It is the modern day solution to end all entrepreneurial problems. In a time and age of sky high rent costs and cities with space problems, finding an office space and managing it can create a lot of issues for a new entrepreneur. Co-working provides you with a virtual office and develops a professional image for you.

India is slowly welcoming the idea of co-working, where people share a common working space. According to a recent article, 9600 seats are available across the country with Delhi-NCR leading the way in terms of seats available.

One of the new, interesting co-working spaces is Workbar, where you are presented with various tailored packages including services like mail handling and a personal receptionist.

Now that you know what co-working and virtual office is, let us explain the 5 benefits of having a virtual office for start-ups other than being easy on the pocket-

1. Customized service- A lot of co-working virtual spaces now provide customized services to you including mail handling, receptionist and registered business address. They give you an environment of a personal office without the hassles of one and you can commit to creating your best without worrying about anything else.

2. Networking- Working around like-minded individuals is a great plus for a start-up founder. Co-working spaces foster a sense of community between everyone.

3. Productivity- Virtual offices give employees and start-up founders a chance to choose to work from home. As long as employees get the job done and are available when you need them, telecommuting or having a virtual office benefits the employees and happy employees equal to productive employees. We mentioned the benefits of less working hours earlier (link that article) and virtual offices are just another tool to reach maximum productivity.

4. Find your next idea- As a freelancer or designer if you use a virtual office or co-working space, the other entrepreneurs end up seeing your work. Some may ask you to pitch an idea or collaborate with them on a project. They have the advantage of having seen your work so you can spread the word and start right from the entrepreneur working next to you.

5. Environment friendly- Sharing an office space with other companies and freelancers encourages you to go green by cutting down on utility costs and avoiding wastage of resources.

Having a good co-working virtual office is a boon and at Workbar, you offered a seamless professional experience that manages your entrepreneurial troubles with ease.