Tips for a new start-up business

Have a business plan – As the saying goes, if you fail to plan then you plan to fail. Have a succinct and clear business plan which should include points such as sales forecasts, identification of competitors and an outline of how your money will be spent. Having a plan will not only enable you to monitor your business’s success but it will also prove useful when asking outsiders for funding. Conversely, don’t be beholden to the plan, we all know that the pace of change in any business is rapid so make sure you are able to adapt – the joy of entrepreneurship is often the ability to make decisions on the fly.

Home Office AND Virtual Office Services – In the early days of your business, cash flow is king, so forget about wasting precious resources on renting an office and all of the overhead involved with that idea. Save as much money as you can by setting up your base from home. Your accountant can ensure that part of your electricity bills and even part of your mortgage expenses are offset against your tax bill. Utilize a Virtual office provider for a Virtual mail package so you can “rent” or use a professional class A or B building for your business’ official address and a place to receive mail and packages. Also these providers, such as Office Alternatives local to ABQ, offer other services to help your business appear larger and more established even when it’s brand new. Check out Office Alternatives Virtual Mail package.

Keep track of your finances – Hopefully the money will be flowing in in no time. However, don’t get too carried away, always keep good track of your financial status. Do you have savings that can be invested, and will these be enough? If you don’t, approach potential investors and lenders early-on. Don’t rule out considering government-backed funding too. Investigate the many business incubator services that are on hand to advise you, and in some cases offer financial backing. Use a bookkeeper and/or Quickbooks online to ensure accurate complete books. Make sure you’re paying all of the different tax categories each quarter also.

Don’t go it alone – Taking on the weight of a business all by yourself might be too much, especially if you have a family. Try and find a business partner who has the same goals as you, but with different skills and knowledge to you, then you’ll both complement each other. Join a networking group and make friends with other business owners.

Create a Buzz – If you don’t shout about your new business, who will? Make the most out of free tools such as social media to spread the word. Similarly, something as simple as asking your customers to tell their friends and family about you can have a big impact. Also, make sure to network – this doesn’t have to be at a specialist ‘networking event’ but in your day to day activities – just keep telling people about your service and you may find yourself talking to someone who knows someone or something of use!

Image is everything – A good business name, business cards and a professional website all contribute to how your business is perceived by the public. But don’t underestimate the power of the telephone number and reception service also. By setting up a separate local and/or national number such as an 800#, your business projects the image of being a bigger enterprise, with national reach. Office Alternatives’ Virtual Telephone Reception service can provide an affordable team that answers your business’ phone and greets each prospect and client with a professional live answer service again without actual overhead.

Grow in stages – Working from home has its downside: Barking dogs, ringing doorbells, and screaming kids are a few. Consider taking up office space at a coworking facility or executive office suites rental company. For instance, Office Alternatives has a wifi coworking lounge at the Lang location as an add-on – super affordable way to have a quiet place to work. Or consider one of their fully loaded executive office suites at either location. Fully loaded with all of the amenities you need to office there.

Don’t give up – Learn from your mistakes and adapt accordingly. Be prepared to continue refining your business methods as you encounter new hurdles. No one successful ever launched with the finished product, so keep tweaking and adding. You’ll learn so much from your first few sales and customers to help you refine the way you do business and make things easier for you going forward. Overall keep motivated and don’t lose sight of why you started the business in the first place.

Get a mentor – SCORE is a non-profit organization with a local ABQ chapter. SCORE Albuquerque mentors are highly successful and seasoned business professionals and entrepreneurs with the experience and knowledge to help you achieve your small business goals. Browse resources, take a workshop, or find your business mentor today by going to SCORE

How to get more work done if you work from home

Did you know that working from home often results in 40% less productivity and output?

Why? Well we all know why right? Laundry, dishes, dogs wanting in/out, UPS and FedEx at the door, the spouse wanting to “talk,” the handyman wanting to talk, snacking time, the TV show that we’ll watch only for a “few minutes” or the kids crying so on and so forth.

 

Our Solutions:

  1. Rent an office suite – This option is great to position with your boss especially when productivity increase is at stake. Or if you own your own company, what can you accomplish with more focused work time? Right now OA has several open offices as a result of our recent expansion. Stop by 4801 Lang Ave NE suite 110 for a tour Monday – Friday 8-5pm. No appointment necessary.
  2. Subscribe to a coworking pass – OA newly launched a new wifi coworking lounge at the Lang location. For $199 monthly, get unlimited daytime use. Settle back in a nice quiet space to work with plenty of plugs and free coffee. Conveniently located in Journal center. Get one month free by mentioning this newsletter. (June only).
  3. Rent an office for a few hours – With our hourly day offices, you may choose certain days or times of the month to “get out of the house” and rent a quiet fully equipped private space. Maybe a time when you have deadlines and need to focus.
  4. Hire us to answer your business calls and screen them – you can prioritize what calls you take and when by hiring a virtual receptionist to answer your line during business hours. How? Just signup for as little as $50 monthly and we provide a phone number for you to forward your calls to during business hours and a voicemail box for after hours. No more interruptions by long-winded talkers!
  5. Don’t see what you need? Call us to see what we can do. Because we’re Locally Owned, we have the flexibility to be creative.

www.officealternatives.com   505-796-9600

How to Choose the Best Office Rental for Your Small Business

How to Choose the Best Office Rental for Your Small Business

As your small business or startup grows, it’s possible that you’ll quickly outgrow your home office space (or other ad hoc office solution). The good news is that is not a bad problem to have. Still, finding the perfect office space has its challenges.

You want an office that suits your company’s culture, a space that feels like it will fit your vision just right. Perhaps most importantly, you need an office lease that fits your budget. To guide your search for the best commercial space, keep these 8 office hunting tips in mind.

 

  1. Know How Much Space Your Office Rental Needs

This might be easier to understand if you are a solopreneur looking for a shared office space that rents by the day or hour. However, deciding on space gets trickier if you have a distributed team or special equipment or needs to accommodate. Office size can drastically impact not only your job satisfaction but your team’s as well. A quick way to lose that satisfaction is a cramped workspace.

 

  1. Choose an Office Layout Based on the Team’s Work Style

Think about the type of office layout or workspace environment that will lead to your employees doing their best work. Would they love an open collaboration space, private offices or cubicles, or a combination?

 

As an example, open offices are popular amongst many modern businesses. This can be great for teams that thrive on collaboration. Though, if your team needs to focus without distractions, this type of setup may not be the best for maximizing productivity.

 

  1. Rent an Office Centralized to Where Employees Live

Commutes to work can impact employee happiness and turnover. Let’s face it no one wants to deal with a long commute Monday through Friday; wasting production hours when there are employers more conveniently to their location. To the extent that it’s possible, try to find an office that everyone on your team can reach without too much hassle.

 

  1. Rent an Office That is Accessible to Clients, too!

Make it easy for your client to do business with you. One of the best ways to do this is by choosing an office rental that can be easily reached by public transportation and major highways. Is there parking? Is the area safe? Don’t lose a client simply because they cannot find you.

 

  1. Select an Office That Fits Your Culture

It is equally important to find an office that fits your company’s personality. Scrappy startups may feel out of place in swank corporate office parks, and businesses with high-end clientele may want to skip the trendy warehouse district.

 

The more comfortable an office space feels the more your team is likely to attract similarly minded companies, which can be great for networking and morale.

 

  1. Set a Realistic Budget

In addition to location, the cost will be the next biggest concern when searching for a new office. Office suites rented in “high image” areas such as prestigious business districts are often much higher than offices located off side streets. The reasons are simple – image and location. If you are a financial advisor, do you want to pay a little more to be seen as “successful” by being seen in a polished professional business space versus a strip mall? One must think through what those attributes are and realistically what they will cost. Do some price shopping – and list pros and cons of the higher-priced offices to the lower-priced ones.

 

  1. Negotiate Your Office Lease Before Signing

Everything is negotiable, including rent for commercial office rentals. You can negotiate for specific lease terms, free rent, maintenance, and more.

 

  1. Consider a Flexible Virtual Office Membership

Virtual office memberships, like the type we offer here at Office Alternatives are a great option for startups and small businesses who need flexibility. Our virtual services include renting hourly offices and conferenence rooms when you need them instead of having a fixed monthly cost.

Receptionists up front to meet and seat your clients

Client pickup and dropoff

Witnessing and notary services

Mailing/shipping assistance

One monthly bill

 

*Some of this article written by: Intelligent office 2024; modified by OA

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