The idea of a virtual office is simple, it’s an office that doesn’t impact on any physical space in your business. This is beneficial for many reasons, one of which being financial – but it does beg the question, do virtual offices really make a difference to profits?
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Can A Virtual Office Really Make A Difference To Profits?
1. Can A Virtual Office Really Make A
Difference To Profits?
The idea of a virtual office is simple, it’s an office that doesn’t impact on any physical
space in your business. This is beneficial for many reasons, one of which being financial
– but it does beg the question, do virtual offices really make a difference to profits?
There are a number of case studies that we could look to in order to prove that this is the
case. One of these, which was discussed in the last Virtual Office Made Simple, was that
of manufacturing company Bete – who managed to save £50,000 a year.
So, it’s certainly safe to say that there is potential – but let’s look at some other examples
of how a virtual office can work in terms of profits. You might already realise the impact,
so choose a virtual office package now to help grow your business today.
Savings & Gains
The most significant aspect of a virtual office’s impact on profits is in savings. Writing
for Entrepreneur.com Chelsea Berler states “Cutting unnecessary overheads from their
budget and giving their employees flexibility are some of the biggest perks of creating a
virtual office”.
The savings from a rapid enhancement in efficiency is where the real difference is made
to profits. This works in the following ways:
Travel – If you can save on an office space, you don’t have to travel. This can
represent significant savings for you as a business owner, but also for employees.
2. It was reported by Sophie Christie in The Telegraph that the average cost of a
career-long commute is £50,000.
Cost-Efficiency – By not having a constant space, and perhaps renting meeting
rooms or workspaces as and when required, a business can remain very cost-
efficient. For example Virtual Office Made Simple provides the kind of meeting
room hire London based companies can use for almost any type of business
activity – meaning a business can save on rent in one of the most expensive areas
of the UK.
Mobility – We live in a global business age, and that means a company might
work across international borders. Many people work for UK companies from
abroad, and this freedom means you can take advantage of a global talent base
whilst not being tied to a single geographical location.
The gains in freedom and flexibility have an impact on costs. This is the biggest aspect of
a virtual office – and it’s the primary way that it makes a difference to profits.
By making use of a company mail forwarding service like ours you can still have all the
perks of a designated office address – without the associated costs, which really helps
keep profits up – especially when a business is just starting out and receipts are limited.
Tech Solutions Enhancing Effectiveness Of A Business..
And It’s Profits
One of the biggest benefits of maintaining a virtual office space is that you can take
advantage of tech solutions provided by cloud based software. There are a lot of different
software solutions – but the efficiency of them is a good indicator for how well they
impact profits.
3. By taking your business virtual, the effectiveness of your business can be greater than
that of a physical office. So, tech solutions used in a good virtual office make efficiency
much greater. Studies have shown that remote workers using tech are are more
productive.
Writing in the Harvard Business Review, analysis from Nicholas Bloom on Chinese
travel agency Ctrip revealed that “people working from home completed 13.5% more
calls than the staff in the office did”.
The reason for this is sometimes disputed, with little concrete data available, but Bloom
offers his own thoughts:
“One-third of the productivity increase, we think, was due to having a quieter
environment, which makes it easier to process calls. At home people don’t experience
what we call the “cake in the break room” effect. Offices are actually incredibly
distracting places. The other two-thirds can be attributed to the fact that the people at
home worked more hours. They started earlier, took shorter breaks, and worked until
the end of the day. They had no commute. They didn’t run errands at lunch. Sick days
for employees working from home plummeted”.
It’s fascinating, but the benefits of tech solutions in a virtual office on productivity and
ultimately profits are a great way for digitally switched on businesses to expand.
Keeping Efficiency & Profits Tied Together With A Virtual
Office
If you look at the data, it’s plain to see that there is a lot of different types of business
making use of a virtual office. There are many ways you can enhance a business, with the
4. primary one being the efficiency of it. Increased efficiency means increased profits –
which is the key place where virtual offices create an impact on company profits.
So to boost profits in your business, choose a virtual office package today. Our packages
start from just £24.99 per month and can be expanded and tailored to your individual
business needs.
Thanks for reading. If you would like more information make sure you check out the rest
of our blog. It is a great resource and serves as a good knowledge base – particularly
relevant will be the ‘Business’ section.