Going Virtual: Why Remote Work is the Future for Entrepreneurs

The concept of ‘virtual’ workspaces is no longer new; businesses of all sizes are embracing its popularity. Over the last few years, more and more business owners have been experimenting with remote teams. To clarify, remote employee performs their regular office duties from an offsite location, which can be their home or a shared office facility, or just about anywhere not in the central business location.

Therefore when reviewing the two most common forms of remote work, i.e., at home and out of virtual office facilities, it is now commonplace for startups and entrepreneurs to direct small teams from co-working spaces with one of the main drivers being cost. Paying for shared space is much less than taking out a commercial lease.

Keep reading to learn more about the benefits of remote work and why virtual offices are the new workplace.

A Virtual Business Can Be Anywhere

What differentiates virtual offices from owned ones is the lack of a long-term lease and the need to provide the office infrastructure. For instance, Servcorp Hong Kong offers ‘ready to go’ corporate suites.

Tenants, i.e., companies, have swapped long-term contracts for pay-as-you-use access to various resources and features. The basic fit-out available to tenants includes high-speed broadband, mailboxes, receptionists, secretarial support, IT teams, conference spaces, and break-ut zones for relaxation. The setup is very similar to a gym membership. Users enjoy the gym’s equipment and, on some membership deals, exercise classes without length locked-in contracts.

A Virtual Business Is Always Open

Contrary to earlier thoughts about using co-sharing spaces, they are well equipped, stylish, and secure and provide networking opportunities with the other business tenants. In fact, they can be catalysts for new opportunities, both customers and also partners. For instance, if you were to expand overseas into a thriving city like Hong Kong, you’d still have to maintain your customer base back home, which is difficult when it’s in an entirely different timezone.

Virtual offices can come equipped with receptionists and administration services to cater to the needs of all businesses. Suddenly your available staff hours have expanded, and you can easily manage customer inquiries from different locations. Similarly, you can have your corporate mail sent to the virtual office and sorted by a secretary.

Flexibility

If the global recession taught businesses anything, flexibility could mean the difference between success and failure. The company making the most significant profits is not always the most successful, particularly if it cannot adapt quickly to change.

The enterprises that survive downturns are streamlined and nimble with cash resources for the unexpected and investment in the business. The long-term lease on the office space can be a dead weight around your neck when trading conditions require a more flexible approach.

Why Leading a Virtual Team Is Easier Than You Think

There are many myths and misconceptions about virtual offices and remote working arrangements. For a long time, the assumption was that shared environments and working from home provided too many distractions. However, studies have shown that flexible schedules and dynamic workspaces increase productivity.

The secret to the success of any business is a solid and cohesive team that’s got the tools to communicate irrespective of location and timezone. There are ample applications that provide online chat and team management tools that work together under the same roof may be more distracting than remote working.

Entrepreneurs need to network, and if they’re the only person in their business while it’s just getting started, then the co-sharing environment offers structure and the virtual team, even if the virtual team is indeed just other business tenants.