The office hunt is a minefield, with many firms ending up frustrated and making the wrong decisions.
The office hunt is a minefield and with more options on offer than ever before it’s little surprise many firms end up frustrated and making the wrong decisions.
Here are some of the common mistakes made by SMEs and start-ups when making their move to a new office.
Being unclear of what you’re looking for
Most SME owners will never have searched for office accommodation before and may find the market place daunting. There are so many different options to choose from that if you don’t start the search with a clear idea of what your business needs from the space, you’re almost certain to waste a lot of time exploring options which will never fulfil your needs.
Many small business owners often think their only option is to sign up to long-term lease agreements, where they commit to an office space for several years. In truth there are a wide variety of more flexible office space options in the market, and some office providers specialise in offering space to new and smaller firms.
With a long term lease, an office property will sit on your balance sheet as a liability, so tying yourself into a long-term deal while your business is still finding its feet can leave you under real pressure and is no longer necessary or the only option available.
Making rash decisions
When shopping for any product or service there’s always the temptation to rush in and buy the first thing you find. With office space it’s tempting to get things tied up and get moved in as soon as possible, but once the honeymoon period is over firms can be left stuck with an office which isn’t suitable for them.
We advise our clients to view a range of suitable offices before making a decision, because it’s not just about the location or facilities, it’s also about how well it suits you and your business.
Committing sufficient time to this process and acknowledging the advice on offer is essential in making the right decision for you and your company.
Thinking cheap is best
Yes there are bargains to be had out there but the old adage of, ‘You get what you pay for’ often still rings true – but the most important thing is to realise the difference between being cheap and offering value for money.
An office which is cheap but stops you from working productively isn’t offering you value for money and sometimes paying that little bit extra each month can leave you in a much improved working environment, thus improving the efficiencies of your business.
It’s also worth considering what else is included in your rental package, After all, if free meeting rooms or reception services are included in your package, how much would this save your business in the long run?
Bogged Down in Jargon
As with most areas of business it’s usually best to keep things simple, tell people what you want and let them tell you in as straightforward manner as possible, what they can offer.
However, the property world can be a jargon filled place, much of which can slow down the process of searching for and selecting office space. In some cases it can even put people off or result in them not fully understanding what they have committed to.
This is where seeking out expert advice really pays off. Using a third party provides additional clarity, explanation and control of the office search process.
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