How to Choose Executive Suites Based on Your Specific Needs

When running a company, business owners have a lot of tough decisions to make. This includes choosing the best office space to meet all of their needs. A lot of thought must go into this decision because there are so many factors to consider. Here are some tips for choosing the best executive suites based on the needs of the company. Hopefully these suggestions take the guesswork out of this process so business owners can focus on what's most important – growth.

1.       Rent or buy? It’s important to carefully consider both options because making the wrong decision could be a costly mistake. First, business owners need to determine how long they plan on staying in a given space – could the location of the home office change? Executive suites that are large enough now might be too small later on down the road if the company is expected to grow. Buying office space could be a good investment, but only when business owners are positive the place fits all of their needs now as well as in the future. To be on the safe side, many prefer to rent.

2.       "Location, location, location." There is a reason why this is the mantra of every realtor in the United States.  In the world of real estate, location is everything – including when it comes to executive suites. Some business owners hastily sign leases on office spaces without realizing how much the location of the company impacts the bottom line. Not only must it be easily accessible by customers and employees, but the office needs to be located in an area that makes sense. For example, a company that does business in a particular city should be located in the heart of that town – among the hustle and bustle of their current and prospective clientele.

3.       Functionality. The best executive suites are those that help a business function well. This means there must be space for every employee to flourish in their position. How can business owners tell if a suite is adequate for their needs? Here are a few helpful hints:

·         How many employees are there? Account for expected growth

·         Does your company thrive off an open layout or private offices?

·         How many private offices do you need, if any?

·         What other facilities do you need—i.e. bathrooms, break rooms, and storage?

Need a Place to Perform Your Work? Check Out these Innovative Office Space Solutions

In today's business environment, companies must be flexible if they want to survive. Competition is greater than ever, so it is important to always have an edge over the other guys. Part of being business savvy is coming up with innovative office space solutions to accommodate employees, provide a professional work environment, and ultimately grow the company. Here are three solutions to help modern business owners manage their ever-evolving operations.

Virtual Offices

People who wish to start their own business, or reduce the overhead costs of their existing business, might want to consider this non-traditional office space solution. Virtual offices allow people to work remotely while maintaining a sense of professionalism. A remote receptionist and a professional address are some of the communication solutions that provide the flexibility some businesses need. 

Executive Suites

Companies that need a more permanent office space solution should consider renting executive suites. This temporary office space solution gives business owners the flexibility to choose how much space and which amenities they need as their business grows. Executive offices provide a traditional business environment for the modern-day company – offering technology, communication, and other office services, as well as support services, as a total package.

Shared Office Space

Most business owners choose a shared office space when they look for innovative workplace solutions. A shared office space is fully furnished and includes some of the latest technologies, with the option of using available communication and office support services. These highly functional and professional facilities could be just what your business needs to succeed in such a competitive environment, as they create a sense of professionalism without the added stress and expenses of owning your own space. 

Small Businesses Share Office Space

Crowne Office Suites Atlanta

According to a recent article on ForsythNews.com, local small business owners are lowering their operating costs by sharing resources – including office space. Crowne Office Suites is a complex that uses a communal approach to bring down the expenses of owning a business. From sharing a receptionist to using the same break area, these companies represent the change in the traditional workplace that office suites have come to represent. This might not be the solution for everyone, but here are three instances where the communal office approach works:

                                                  

1.      Businesses that have recently re-located. Businesses that are new to an area might have a difficult time adjusting for a number of reasons. In the ForsythNews.com article, Jason Mock with the Cumming-Forsyth County Chamber of Commerce explains, "They can find a space that suits their needs without having to jump head-first into the water." A shared office space gives businesses a chance to ease their way into their new location.

2.       New businesses. Many people who have the drive to start a business don't always have the start-up capital to pay for operating costs and other expenses. In the past, these people have been forced to run their small businesses out of their homes, but communal offices change that completely. People starting their own businesses have a chance to work in a legitimate office space without all of the traditional overhead costs.

3.       Businesses that are looking to reduce costs. Companies all over the country are looking for ways to drive down costs hard and fast. Not only does it seem more expensive than ever to run a small business, but the state of the economy is making it difficult for them to stay above water. Business owners who are struggling with overhead costs should consider the concept of sharing executive suites, as long as it is a solution that makes sense for the company.

How an Office Space Creates Identity

Humans are creatures of habit. We crave familiarity, and we thrive off predictability. This is why, according to an article on SydneyMorningHerald.com, shrinking offices and shared work spaces diminish a company’s and its employees’ identity.  The concept of "hoteling" can crush employee morale. Having employees "check in" to secure a desk or office space does allow companies to cut back on overhead costs but at what price? The lack of a designated work space can negatively impact productivity and job satisfaction, which ultimately affects the bottom line. Here are ways to help employees create a sense of comfort and familiarity in the workplace.

·         Give each employee a designated work space. Even in a shared office space, giving each person his or her own desk can raise their productivity significantly. As the SydneyMorningHerald.com article points out, "the human urge to put a personal stamp on the immediate environment is insurmountable," so even if the practice of hoteling makes the most economic sense, it doesn't necessarily benefit employees. Happy workers work more efficiently, so it is important to meet their needs by supplying them with a space that is their own.

·         Don’t move them around too frequently. Humans are also social creatures, thriving off the chance to socialize with others. Sitting in the same part of the office creates a sense of belonging, and being surrounded by familiar faces gives employees a chance to be social with people they recognize on a regular basis. These levels of predictability, according to psychologists, have a positive impact on the company's staff. Sometimes office managers need to move employees around for any number of reasons, but they should try to limit these changes in the office space.

·         Encourage them to personalize their desk/office space. Employees should be encouraged to surround themselves with personal belongings that show off the personalities. Not only does this promote interaction between staff members, but it also helps them create a space that feels comfortable and familiar to them. The article states that people working in offices that use the hoteling method have been known to deliberately leave behind personal items in areas that are not assigned to them – a clear sign that they crave a sense of identity within their office space. Giving each employee a secured space that they can make their own will satisfy their urge to personalize their environment so they can better focus on their tasks.

Be Professional with a Lower Investment using Temporary Office Space.

If you are an entrepreneur or freelancer, you know that having a work address is essential to making you look like a reputable professional. Listing a P.O. Box is very impersonal, and a home address is not recommended as it may lead to confusion and organization problems, so there needs to be a better solution. That better solution is renting office space.

There are many amenities that a virtual office space provides. Some of those include call forwarding, access to meeting rooms, and IT support. Mail forwarding is an essential amenity for any freelancer or small business owner. In a rental agreement, most office space providers will, at the very least, offer mail reception. You can then pick it up whenever you want or grab it the next time you use the space. Some providers may charge you for mail forwarding, but it is still a fantastic service for those looking into renting rather than buying.

Office space for rent is becoming more popular because of the freedom it provides. You are not bound by a lease or forced to set up wireless or phones. All of that is provided for you. Plus, you don’t have to worry about wasting your space. Time is money, but so is space. If you only need an office for a few hours a week, what is the point of having the office additional time? It’s just lost money. A virtual office space provides the key amenities for running a business like a work address without the hassles and costs of ownership.

Is it time to make the switch from my home office to an office suite?

The first step you need to take is realizing that your business has grown enough for you to be able to move out of your house. Here’s where the catch 22 comes in: how am I going to grow if I don’t leave my home and how will the additional expense affect my company’s growth? Depending on your business and location you need to question your current situation, make a decision and take a leap of faith.

Is it time already? If your answer is blurry, try performing a SWOT analysis to identify Strengths, Weaknesses, Opportunities, and Threats of both having a home office versus renting office space.  You should compare the two SWOT charts. Upon doing that, you will find yourself either content about the fact that you’ve decided to stay home aware that your business growth does not currently allow you to get shared office space, or satisfied because you discovered that it is time to move out. Whatever decision you make it is always wise to check with your accountant regarding tax implications and impact on your bottom line. 

Remember your first apartment. You were probably very young, your mother cried, gave you a clothes’ hamper and a tin can full of quarters as teary eyed she advised you to fold the laundry while it was still warm.  Those teenage years are long gone and hopefully your diet will never be Ramen Noodles again. Remember that getting office space for lease means more productivity, a better location, better networking opportunities, and more importantly a space designed for business.  At the end of the day your spouse/kids/TV/ will be waiting for you at home, a place designed for living and resting. Having and office brings balance to your life and clear divisions between work and home. At this point the decision should be easier.  

Whether or not you are afraid of commitment, you should think about the lease terms of the office space you’re quoting. You believe in your business otherwise you’d still be working for that guy who calls you “sport” or “kid”. However, things may change, you may miss home or you may see that your business does not work as well as you thought and need to cut expenses to keep afloat. Therefore, you should go for a flexible lease as opposed to the 3 year lease most traditional offices require.

Executive Office Suites not only provide you with the flexibility of shorter leases, but also with extra space for meetings with added perks such as IT support, dedicated bandwidth, firewalls and all the coffee and tea you can drink. The fact that you only pay for what you use gives you a lot more control over your expenses. However, if the move seems way out of your budget, be sure to check out additional options such as virtual offices.

If the time is right, give us a call and we’ll help you find the right office space for your business until you get to own your own floor or building.