Keeping Your Business At Home Doesn’t Actually Save You Money
In the age of garage startups, many small business owners opt to run their companies entirely from home. Minimizing expenses by not renting a separate space seems like a good idea at first, and it can even help your business find its footing in the beginning stages. But keeping your business at home can hinder its growth, and the money you lose in organizational issues, lost time, and collaborative difficulties can end up surpassing the money you save in rent.
Close Quarters Lead to Disorganization
Creating a work space in your home can be difficult— the kitchen table doesn’t make an efficient work area, and shoving a desk into the garage won’t work for long. Once you outgrow your space, your business can suffer from severe disorganization. The time you spend looking for documents or product samples takes away from the time you can devote to actually running your business.
In addition, sharing your office with the rest of your family can present issues as well, from curious pets tampering with work materials to loud children interrupting important client calls. Sharing space in this way means you have less control over your business, and while the chaos may be fun at first, it will cost in time and money in the long run.
Distractions, Distractions, Distractions
When you run a business out of your home, distraction lurks around every corner. From interrupting family members to household chores to a cozy couch and TV can lure you away from your work, causing you to lose valuable time. You can try to remove some of the distractions, but there’s no substitute for a dedicated space designed to keep you focused and working.
Inhibited Collaboration and Communication
Once your business begins to expand, the lack of office space can inhibit your team’s collaboration. While technology may present a reasonabl alternative to face-to-face meetings, the fact is that collaborating remotely is far less effective. Holding meetings via video chat from your home can cost you time, as the internet often presents connectivity issues. In addition, studies show that meeting face to face is far more effective for business success. The alternative of holding meetings at restaurants or rented space presents distractions and can make you appear disorganized. If vendors, clients, and investors don’t perceive your business as professional, they will feel less inclined to work with you. A consistent office space allows your clients to know exactly where you are and creates a professional environment.
Additionally, you may miss out on new ideas and useful suggestions from your team members that get lost in the shuffle of emails and missed calls. Working side by side can improve coordination and idea-sharing between small, agile teams.
The goal of almost every small business is to grow. To bring in more clients or customers, expand the team, and begin turning a nice profit. But without the proper space, growth will inevitably be stifled. Every growth-related decision will be hindered by your lack of space, and you may miss out on opportunities because you simply don’t have the capacity. This may be fine for a business in its infancy, but if you dream of any success you’re going to need room to grow.
It’s Time to Move
In the short term, keeping your business at home may save you a few dollars a month. But in the long run, as your company grows it will lose time, money, and business. Moving to an office space helps you control and organize your materials, eliminate distractions, and better collaborate with a creative, and growing team. So go ahead. Move out of your garage.