Calling All Business Owners: Is It Time To Move?
The last thing any business wants to do is move because it is a stressful and time-consuming process. Plus, plenty of companies have moved offices and ended up in a worse position, so it isn’t always a good idea. However, it’s essential that you don’t let these fears get in the way because you’re the boss. It is the job of the boss to do the right thing for the firm, and not moving on out of fear isn’t the right choice.
In fact, it is very much the wrong thing for you, the employees, and the company as a whole. Any person in charge must be able to see when the writing’s on the wall, and they must be able to pull the trigger. Before you jump the gun and squeeze (no pun intended), take notice of these signs. They could be the difference between continued success and failure.
Lack Of Space
There is only one thing to do when you don’t have space, and that is move. No matter how hard people try to make more room, it is almost impossible. After all, business premises aren’t like residential properties where the owner can build an extension. Your offices might be on the fifteenth floor of the building, so there is no chance of building an annex for a few additional offices.
Plus, the odds are you don’t own the building anyway, so you can’t start renovating and knocking down walls. The brutal truth is that you need more space to operate and manage the business processes. A lack of room can inhibit your growth potential which means you will start losing money instead of making money. So, take a good look around – do you have space or is it crowded?
Business Is Expanding
Against all the odds, some businesses survive and flourish in their first few years. It is a wonderful feeling, but now isn’t the time to pat yourself on the back. No, now is the time to exploit the company’s position and ram home the advantage. Successful businesses need to expand as a company’s current offices are usually too small to contain the growing firm. Customers are flocking to buy the products and services, and they need to know the business can deliver.
If they can deliver, sales, revenue, and profit will go through the roof. The company can go from strength to strength and continue to expand until they are the leading voice in the industry. However, they can’t do it out of a poxy little office on the edge of town. Not only do they need the space, but they also have to look like a business that is synonymous with their growth. Perception is everything in business, which is why an expanding firm needs to look the part.
No deal is better than a bad deal, and there are plenty of businesses stuck in a bad property with no way out. If this scenario sounds familiar, it is time to do something about it. There is no point in wasting away at your current location as you hand the tenant a big chunk of your revenue because it’s detrimental to your future.
The money you have to pay in rent would be far better off going back into the business, and it can if you move. One bad deal doesn’t mean you will necessarily get a bad deal for another property. Sure, it’s a possibility because nothing is impossible, but it won’t happen if you are on your guard. There are good deals out there; you just need to know how to spot one. Oh, and you have to leave your current premises as soon as the lease is up. Don’t make excuses, don’t add an extra six months – LEAVE!
Sometimes, there is no need to move yet the higher ups take the decision to do it anyway. Why do they take it upon themselves to make such a decision? They do it because it is an opportunity they can’t afford to slip through their hands. Just because everything is going well doesn’t mean you should be content. Of course, it is awesome that there are no flies in the ointment, but that shouldn’t stop you from shooting for the stars. New properties have potential, and they could be the final piece of the jigsaw puzzle for the firm.
Maybe the properties have brand new technology that you can use to your advantage, or maybe they’re in the centre of town and are a fraction of the usual cost. Whatever it is, the business has to react quickly to benefit, and, hopefully, take a step ahead of the competition. As soon as the opportunity arises, you need to be able to seize the day for the good of the entire company.
Everything Is Quiet
Slowing down isn’t a bad sign. In fact, it can be a good sign if you understand how to use it to your advantage. The reality of the situation is that every business goes through peaks and troughs, so it doesn’t mean the firm’s on the decline. What it means is that it is the quiet before the storm, and the storm will rage up again in due time. The good thing about having a quiet period is the amount of free time available. If you want to move, it is going to take a fair bit of time.
The move itself is the easiest part, even though it’s still time-consuming because it’s just a few boxes. The hard work comes before you start moving boxes and equipment from one place to the other. To make sure the move goes smoothly, you have to take care of things like paying the bills and informing clients beforehand. And, to do that, you need a lot of spare time. If you have the luxury, use it to minimise the potential damage that a move can cause.
Can you see any of these signs? If the answer is yes, it’s time to consider moving.