As a small business owner, it can sometimes be difficult to recognize the signs that your business is in need of a new office space. Not being able to recognize the signs can often be attributed to fear. Yes, the fear of change! It can be that you fear how the change will effect your workers and even possibly your customers. Regardless of the reason, not moving into newer or better office space could have negative consequences for your business. So what are the clues that you might need new office space? Here are a few that you should think about when it comes to your small business.
Your current office space does not reflect or complement the brand you are building. It can be difficult to project a modern or progressive brand when your offices are located on the second floor of a suburban strip mall (between a dentist’s office and an insurance broker that has been there for 30 or more years) while the first floor houses a dollar store, a bakery and a shuttered video store. When your office environment contrasts with your brand values and company culture, it can have a negative impact on your customers’ perception of your business. Even if your customers never come to your offices, a quick look at Google Street View can affect the way they look at your business.
What about growth? Can your business grow in its current location? You might have a great location with all the amenities your business needs. But is there room to grow your staff, even temporarily (like you can at an office business centre)? Even if there is additional space to rent more office space, do you really want to add a another long-term lease for space that you may not need in six or eight months?
The space you are occupying is too rich for your budget and is cutting into your profits. Wow, you have an amazing office in a building that is in the core of the financial district and the envy of your competitors. But can you really afford it? Having a prestigious address is always good, but if it does not fit into your budget then you should consider moving somewhere else with a good address. 1 Yonge Street is the number 1 address on Canada’s most famous street. Telsec (on the 18th and 19 floors) offers various office sizes and configurations to fit your budget.
You are having problems retaining or attracting talented staff? This might indicate that either your office space is not well located or the actual space is not set up to be a place that people want to work at. When it comes to location, you want to be near the talent you are trying to attract or keep. At least you should locate somewhere that is easy for them to get to by public transit, bicycle or car. If they are traveling by car, you need to have your office in a place that offers plenty of affordable and convenient parking. Check out our blog about locations of office space. You might have a good location, but another reason talent does not want to work there could be that the atmosphere of your office space is not energizing, fun or set up as a conductive workplace.
If any of these clues resonate with you, you should seriously consider moving your small business office to a place that is a better fit for you, your staff and your customers.