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Going Virtual: Why Remote Work is the Future for Entrepreneurs

The concept of ‘virtual’ workspaces is still relatively new. However, their popularity is growing at a rapid rate. Over the last five years, more and more business owners have been opening their minds and experimenting with remote teams. To clarify, a remote employee is somebody who performs their regular office duties from an offsite location.

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The concept of ‘virtual’ workspaces is no longer new and businesses of all sizes are embracing its popularity. Over the last few years, more and more business owners have been experimenting with remote teams. To clarify, a remote employee is somebody who performs their regular office duties from an offsite location which can be their home or a shared office facility, or really just about anywhere that’s not in the main business location.

Therefore when reviewing the two most common forms of remote work i.e. at home and out of virtual office facilities, it is now commonplace for startups and entrepreneurs to direct small teams from co-working spaces with one of the main drivers being cost. Paying for shared space is a lot less than taking out a typical commercial lease.

Keep reading to learn more about the benefits of remote work and why virtual offices are the new workplace.

A Virtual Business Can Be Anywhere

What differentiates virtual offices from an owned office is the lack of a long term lease, nor the need to provide the office infrastructure. For instance, Servcorp Hong Kong offers the use of ‘ready to go’ corporate suites.

Tenants i.e. companies have swapped long term contracts for pay-as-you-use access to a range of resources and features. The essential fit-out available to tenants includes high-speed broadband, mailboxes, receptionists, secretarial support, IT teams, conference spaces, and break-ut zones for relaxation and more. The set up is very similar to a gym membership. Users get to enjoy the gym’s equipment and on some membership deals also exercise classes, without length locked-in contracts.

A Virtual Business Is Always Open

Contrary to earlier thoughts about using co-sharing spaces, they are well equipped, stylish, secure and provide networking opportunities with the other business tenants. In fact, they can be catalysts for new opportunities, both customers and also partners. For instance, if you were to expand overseas, into a thriving city like Hong Kong, you’d still have to maintain your customer base back home which is a difficult task when it’s in an entirely different timezone.

Virtual offices can come equipped with receptionists, administration services to cater to the needs of all businesses. Suddenly your available staff hours have expanded and you can manage customer inquiries from different locations with ease. Similarly, you can choose to have your corporate mail sent to the virtual office and sorted by a secretary.

Flexibility

If the global recession taught businesses anything, it is that flexibility can mean the difference between success and failure. The company making the biggest profits is not always the most successful, particularly if it cannot adapt quickly to change.

The enterprises which survive downturns are streamlined, nimble with cash resources for the unexpected and for investment in the business. The long term lease on the office space can be a dead weight around your neck when trading conditions require a more flexible approach.

Why Leading a Virtual Team Is Easier Than You Think

There are a lot of myths and misconceptions around about virtual offices and remote working arrangements. For a long time, the assumption was that shared environments and working from home provided too many distractions. However, studies have shown that flexible schedules and dynamic workspaces actually increase productivity.

The secret to the success of any business is a strong and cohesive team that’s got the tools to communicate irrespective of location and timezone. There are ample applications that provide online chat, and team management tools that working together under the same roof may actually be more distracting than remote working.

Entrepreneurs need to network and if they’re the only person in their business while it’s just getting started then the co-sharing environment offers structure and the virtual team even if the virtual team is indeed just other business tenants.

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