Essentials for starting a Virtual Office Space

Startups and SMEs are going virtual! The reason is mainly due to the fact that establishing and running a physical office involves several recurring expenditures. Virtual offices do away with overhead costs and other related expenditures. Nowadays, business expansion is mainly done via virtual offices. Expansion of business usually involves high expenditures which put a load on the profit-generating abilities of the company. By using virtual offices while expanding to new locations, brands can avoid all excessive costs. This improves the chances of success of the company in the new location where it has expanded. Are you planning on starting a company or expanding to a new location but lack the necessary fund? A virtual office space can help you. Read on to know the essentials of starting a virtual office.

Business Strategy

Before you set up your virtual office business, you need to ensure that everything is in place. Just because you are working virtually does not mean that your service quality should be affected. This is why a business strategy is important. By establishing a robust strategy for your business, you can ensure that your virtual operations run in a smooth manner and without any glitches. A business strategy plan usually consists of elements like market analysis, management structure, products or services on offer, marketing strategy, sales strategy, and more. Understanding these elements will help you decide on the type of virtual space you will need, the location of your business, and other things.

Tools and Resources

The next step in a virtual office setup is procuring the necessary tools and resources. A virtual office will not have several of the resources available in physical office spaces. However, there are several tools in the market that can replicate the essential elements of a physical office. For instance, to maintain smooth communication with colleagues and clients, you can use communication tools like Slack, Google Hangouts and Hive. Instead of meeting customers face-to-face, you can hold regular meetings with them using Zoom. While setting up a virtual office, it is important that you acquire these resources and more to help you in running your business in a smooth manner.

Address

The address is a crucial requirement for your virtual office. It’s important that you acquire a reliable physical address in a good location. This helps in providing a feeling of trust to the customers. An address should be added to your website and all emails to provide credibility to your business. It is necessary to form your LLC as well as for your loan applications. As long as you have an address for your virtual office space, you can work from any location while important mails and documents are sent to the address. A receptionist working at the physical office can then send you all your valuable correspondence.

Meeting with customers

Several of your customers will want to meet with you for periodical updates as well as before closing deals. Daily and monthly meetings can be held over video-conferencing tools like Zoom. However, important meetings, like sales conferences, need to be done face-to-face. For such requirements, it is advisable that you keep a physical space in mind where you can hold meetings. Opting for a coworking space is a good idea. Coworking spaces have meeting rooms which you can rent on an hourly basis. Thus, when you have to meet your customers, all you have to do is check for the availability of the meeting room and book it as per your requirement. This ensures that having a virtual office business does not hamper your business operations.

A virtual office setup is a cost-effective and efficient method to grow your business without incurring massive expenditures. Working virtually is especially useful now, due to the world pandemic requiring people to practice social distancing and businesses inculcating work from home norms. A virtual office space can ensure your safety during these trying times, help you lower costs, and expand to new and profitable locations.

At Rainmakers Workspace, we can help you with a virtual office address at prime locations in Bangalore and Hyderabad. Our receptionist will ensure that all your mails and correspondence are sent to you safely and on time. In addition, our coworking space is equipped with meeting rooms available on a half-day and full-day basis. When the need arises for you to hold a meeting with your customers, all you need to do is call us and book our meeting room. Get in touch with us to know more!

Are you searching for an office space in Bangalore? Read our blog to know why MG Road would be a good option for you.