For small business, big leaps mean the difference between propulsion and stagnation. No matter how stringent a bean counter you are, a business stuck in one place will inadvertently head for the financial gutter. Even the best laid plans of mice and men often go awry, as Steinbeck and Burns would agree – but without taking an occasional leap of faith your enterprise is bound to falter.
This isn’t an original viewpoint. In many ways, it’s the foundation upon which capitalism is built. So when you’re a small business, what are some of the bigger choices you’ll have to make?
For a start, you’ll eventually have to consider moving into a commercial property.
Large number of SMEs begin online, whether it’s as a highfalutin media agency or a clothing shop selling bespoke sweaters. But when you’re an up and comer in the marketplace, you’ll eventually need a more professional location than your living room.
Just think – would you really want to entertain high-rolling clients from the dinky kitchen in your home?
Shell out and enjoy
But a new premises is a big purchase. Generally, you’ll be locked into a lease for at least 12 months, and you’ll have to shell out to refurbish your new workspace.
The potential for success, however, far outweighs the cost. A workspace, whether it’s a retail outlet or a small office, is a hub of productivity that’ll motivate you far more than working on your laptop in your bedroom.
There are numerous pitfalls and perils involved in purchasing a property, however, and cost is only the beginning of your worries.
Office or retail?
When you sign a lease, you’re boiling different kettle of fish than your internet business. While you’ve probably optimised your site to nab customers actively searching for your products, your brick and mortar location will capture a larger number of window shoppers with only a passing knowledge of your product.
If you’re a retail outlet, then, your shop window has to look like a treasure chest of possibilities. It’s got to represent the look and feel of your company and entice customers inside to make a sale.
Naturally, the rules shift when you’re renting office space. Clients will be visiting specifically to hear business proposals and strike deals. So you’ll have to track down an office that can impress them while also not compromising your budget.
Different businesses will require different workspaces, as you’d expect. But not enough tackle the importance of their space seriously enough.
If you’re still puzzled about your options on the property market, you don’t have to make the decision alone. Some agencies provide a wealth of commercial property information on their site. Take a look to stay informed!