Your business is highly important to you, and you would never want any mishap to befall it. Focusing only on business operations won’t be enough. Other factors also may hurt your business. Mistakes in renting office space are one of them.
Renting office space has always been a vital necessity for businesses. There are several factors involved in the selection process. The major parts are monthly rent & location, but it is important to judge other aspects too. You do not see such problems initially, but they can emerge when the operations start.
Such mistakes are not affordable for any kind of business and can directly affect them. The following guidelines will steer you to avoid any such blunders.
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Rent is the top expense in any kind of business, but the problem arises when it becomes the only decider. When you expect the best location you generally need to pay more, and you rarely find any at a low cost; so you have to decide whether you’re willing to prioritize quality over price or vice versa.
A centrally located office is an advantage for a business, especially if it is a business hub. Such places have ease of access, and traveling through any mode of transportation is possible. This helps your business get more exposure than it would at a remote location. The growth of a business is practically guaranteed with such an advantageous location. However, the demand for such spaces is high & so is the price, and this reflects the rent of many office spaces.
The best alternative for this is coworking spaces. You get all the features at a very affordable price, with the membership fees costing much less than the expenses that come from office rent. The flexibility of coworking spaces can also allow you to choose your workspace according to team size.
Businesses sometimes choose workspaces with poor infrastructure. This mainly happens due to budget constraints. Any business would want to have the extra funds in hands, but compromising on infrastructure can be harmful.
A cheap space mostly comprises of lower-quality facilities. Initially, it may seem like you’re saving money, but in the long run, you would likely end up spending more money on maintenance since the cheap infrastructure would require more frequent repairs. After paying for these several repairs, you ultimately spend more money as you choose to replace the cheap infrastructure that costs more to maintain than to simply replace with one of better quality.
The superior infrastructure is highly important for a business. It reduces business & improves productivity. It also gives a fresh & impressive look to your office, which will surely please your clients. Good quality infrastructure can be expensive and can often negatively affect the budgets of newly starting businesses.
Many coworking spaces have premium infrastructure & facilities. You can access these without the hassle of buying your own amenities separately. The cost of usage is very low compared to owning. There is no additional cost of maintenance when you allow your coworking space to provide the necessities for you.
Unexpected changes are quite common in business, whether they are favorable or unfavorable. In such cases, the business plans need to be able to modify and adapt to such changes. As the business grows it may require changes in the office space. For instance, more workspace for the newly hired staff or extra space for new equipment.
Your office space should be ready for such amendments. There should be enough room for alteration so that you don’t have to relocate or hire additional space. Neither of these options would be favorable for business. The result ends in you losing business or money. In especially unfortunate cases, you may lose both. Furthermore, shifting to a new space is an expensive process, so it is advisable to have a sufficient amount of space for expansion.
Unfortunately, keeping that extra space handy isn’t the most feasible option. It can be a waste of money as well as space, so it’s a critical decision you have to make. If you decide to keep extra space, you have to figure out a way to utilize it effectively.
A simple solution to this problem is coworking spaces. Coworking spaces allow for an easy extension or reduction of your workspace. You can switch your membership according to your requirements without difficulty.
This is a common mistake for many businesses. They utilize the office desk to its fullest use but forget about the tasks that are off the desk. These tasks can include team meetings, presentations, training, & other gatherings. Such an extensive list of tasks requires a dedicated & fully equipped space that can meet all the requirements.
A dedicated refreshment area is also necessary and can help to impress clients or give employees the chance to treat themselves too.
All these facilities need to be taken into consideration while planning for your ideal workspace. These necessities bring a professional atmosphere to the office and can create a soothing work environment. Just sitting at one desk & working continuously can reduce employee efficiency. Even the constant view of the working desk can make work seem draining or mundane.
The office should be a place of comfort for the employees. This positive atmosphere can boost them, increase their productivity, and ultimately benefit the business.
Coworking spaces offer all these facilities at their locations. There are fully equipped conference rooms available for all needs. These rooms can serve many purposes including serving as a place for meetings, conferences, or training.
Every business makes a thorough survey before finalizing a space, but sometimes people fail to take the surrounding atmosphere into consideration. This factor directly influences your business. Initially, it may not be as evident, but the surroundings of your workspace can have a long-term effect on your business. The surroundings should be well-suited to the office.
In other words, it should be enclosing compatible businesses. Take a business hub for example. You get to be connected with like-minded people and grow your business through these connections. Such surroundings can only serve to accentuate your skills.
The employees also get connected to professionals. Through these connections, their knowledge & skills develop as they share ideas, knowledge, new trends & much more. This helps them to stay updated, whereas an isolated office would halt the entire development. Imagine an IT office surrounded by clothing shops, beauty salons, and restaurants. It would block the vision of both the employees & the employer. This wouldn’t make for very good connections.
These goals are more achievable in coworking spaces. People in coworking spaces are expert professionals, and the coworking environment that surrounds them only amplifies the professional business atmosphere. You could get to experience the benefits of working in these fantastic conditions.
In addition, coworking spaces serve as the best places to connect with like-minded people. Many businesses have experienced staggering growth through these formed connections.
Planning is the key to any process, so when it comes to designing an office space the planning is highly essential. Planning helps to keep things organized in a timely fashion. With efficient planning, space allotment becomes easy. You can define areas for each department, which leads to smoother operations. It also helps with infrastructural work such as electric connections, fittings & furniture.
The unplanned offices can become chaotic once the operations begin due to the lack of space management. This may cause things to either fit incorrectly from too many things being compacted together or it could allow some spaces to be left unused & become wastage. In such offices, storage spaces can become insufficient or crowded.
To avoid all these issues, a thoroughly laid out plan is crucial. From equipment to storage, everything should have a designated area. This helps with organization and ensures that everything has a known place, which can help in the long run when you need to find things. There should be enough space for moving in & around the departments.
The need for storage & equipment is different for each business, so the plan & design should fit according to what is best for that specific business.
Looking from the employees' perspective is equally important. The employees are the life and blood of a business. It is of utmost importance that employees are comfortable at work. Availing certain amenities help them to experience that comfort. Some basic needs are comfortable desks, food & recreational facilities, and a safe working environment. A business must consider this while designing the office.
Employees seek training to adopt new trends. Training can also help them develop their skills and improve their confidence in their work thus boosting their overall productivity. It can help them stay updated on all of the ins and outs of the business they work for, which strengthens their overall performance as employees. Events like social gatherings & celebrations can help to energize.
Providing the best facilities to employees is essential to maintain their happiness and wellbeing, and this can be easily achieved when you make sure to take their perspective into account.
Venture X Lewisville - The Realm at Castle Hills offers such facilities throughout all locations. We hold many different types of events from happy hours to cocktail parties. This includes even more professional events like training, corporate events, & so much more. We also organize social events, which can help to relieve work stress & build a network. Here, you don’t need to worry too much about your employees. Venture X Lewisville - The Realm at Castle Hills has them covered!
A centrally located office benefits the business. However, some businesses may not need a central location, and can instead operate remotely. Perhaps having offices close to the industry benefits them more. Take an agro product company or an agro consultant’s office for example. Outskirt locations are usually going to be the best option for them.
Another example could be with architects. They don’t require offices in business hubs and are able to work remotely as well.
This makes your thorough research when looking for suitable locations very important. Many people make the mistake of compromising space for location. Since the office rent at most prime locations is very high, the budget is negatively impacted. This can leave you with a tiny & unpleasant office, which eventually harms business.
However, considering other available options without having to sacrifice sufficient space for a prime location can lead you to a spacious office with a location that still works for you.
Once you finalize the office space, the next step is the design. Several businesses avoid hiring professional designers or hire an inexperienced person. While both decisions may initially appear to save costs, both are sure to ultimately result in disaster.
Professional designers not only design the office, but they do work co-ordinations as well. They know all the technicalities from beginning to end and understand what tasks to complete according to the order of priority.
For example, civil work is the initial stage, while painting &furniture usually come a little later in the process. There are many steps to be completed, and the coordination of all these tasks is a tough job. This is why you need to leave it to the professionals to ensure things run smoothly.
It is the designer’s job to take on space planning, seeing as they possess the skillset to fit things accordingly. They best understand how to make use of every inch without wasting any space.
Some designers can turn seemingly drab spaces into a beautifully modern, comfortable workspace. This makes hiring a designer a must, as they are the only ones who are truly up for the task.
Inflexible contracts can be harmful whether it is for a house or an office. However, in the case of a business, it is a big loss. Inflexible contracts refer to those with little to no flexible terms. These terms are as binding as a jail sentence, usually including a lock-in-period. You usually aren’t allowed to call off the contract when needed.
There may be a time when your business expands and you need a bigger space, but such contracts don’t allow you to leave the space. This forces you to either have to adjust in existing space or hire another space. This would essentially make you pay rent for two places.
There are several other terms that could potentially harm business growth. One example of this is a hike in rent. It may burden the business, depending on its specific terms. Some contracts don’t permit alterations in space, which can prevent you from designing the office the way you need it.
To prevent the mistake of becoming trapped by the constraints of a rigid contract, thoroughly examine the contract before signing. Sometimes compromising the space is worth avoiding the commitment to a contract of inflexibility.
With just a bit of research, all of these mistakes are avoidable. Most of these mistakes are a result of negligence, which is easy to avoid if you pay just a little more attention. Whereas, some points may initially look expensive.
But in the end, it saves you from further disasters. All successful businesses have grown by avoiding these mistakes.
Coworking space is the best solution for all the above problems. It is the best low-cost way to prevent making such mistakes. Coworking spaces remove the burden that comes with finding the ideal flexible workspace from your shoulders. You don’t need to waste your time in searching for locations & solving further problems.
Coworking spaces provide the best services at affordable prices. Their membership fees are very low compared to renting an office space, and the amenities you get in exchange are beyond limits. Venture X Lewisville - The Realm at Castle Hills is currently leading the industry of flexible coworking spaces. We provide the best in class services.
Ese Aihie is the owner of Venture X Lewisville - The Realm at Castle Hills. She is a subject matter expert on the inner workings of the coworking industry. Ese is also the founder and CEO of Work Innovators: a company that delivers managed services in technology, workforce, and workspace solutions.
You can find her on LinkedIn at:
Ama Aihie is a sales and marketing associate at Venture X Lewisville - The Realm at Castle Hills. She is an avid reader with a passion for writing. Ama often writes pieces concerning real-world issues, and she’s an expert on writing anything from business or politics to fiction novels or personal experiences.
You can find her on LinkedIn at: