Going Virtual: Why Remote Work is the Future for Entrepreneurs

virtualThe 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.

The two most common forms of remote work are at home and out of virtual office facilities, which are designed to accommodate this type of enterprise. It is becoming more acceptable now for entrepreneurs to direct small teams from co-working environments. It saves an enormous amount of money because the team does not need a fully equipped suite.

Keep reading to learn more about the benefits of remote work and why virtual offices are the key to its success.

A Virtual Business Can Be Anywhere

The thing which differentiates virtual offices from regular ones is that they do not have to be a tangible, physical asset. In the case of cooperative workspaces, they are a physical resource, but nobody owns or rents them outright. For instance, Servcorp Hong Kong offers the use of ‘ready to go’ corporate suites.

Tenants swap long term contracts for pay as you use access to a range of resources and features. The essential tools include high-speed broadband, mailboxes, receptionists, secretarial support, IT teams, conference spaces, and more. Think about how a gym is accessed. Users get to enjoy all of the tools and features, but they can up and move to another office or facility whenever they like. There is no firm commitment.

A Virtual Business Is Always Open

Contrary to popular belief, not having a formal office lease does not lead to insecurity. In fact, it opens up new opportunities, particularly for young businesses. For instance, if you were to expand overseas, into Hong Kong or another Asian city, you’d still have to maintain your customer base back home. It is a difficult task if it exists in an entirely different time zone.

Virtual providers aim to cater to the needs of all businesses, so they make their services customisable. It means that you can invest more in things like 24/7 telephone lines, manned by professional receptionists. Similarly, you can choose to have your corporate mail sent to the virtual office and sorted by a secretary.

A Virtual Business Produces No Waste

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 enough when a big change is coming. The enterprises which survived the downturn are those that streamlined, cut back, and shrunk to fit market conditions.

Those same businesses are now rebuilding and flourishing. The point is that flexible office solutions, without long-term contracts, are the best way to remain agile. If you need to cut costs quickly (or indeed grow rapidly), you can only do so if your contract allows you make changes. With a traditional 2-5 year lease, early terminations can cost lots of money, and many businesses just have to wait it out.

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 success is a strong, cohesive team which is great at communicating. If your employees are not working together all the time, make sure that they are trained in the use of streaming and video conferencing tools. Speak regularly and don’t forget to check up on their progress. With remote teams, the emphasis on results, rather than how they are produced.

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