Virtual Venture – 5 Reasons to Take Your Business Entirely Online

Virtual Venture

TechsPlace | Are you starting a small business? You have most likely been scratching your head as you pore over the books and try to find a way to make it work. One option that is gaining momentum is the virtual office. As websites like Fiverr, FlexJobs, and UpJobs make virtual employees a cultural norm, many companies are ditching the traditional office in favor of an entirely virtual venture.

Reducing Overheads

Renting or purchasing office space is expensive, and a long-term lease agreement can make it challenging to scale your business as it grows and changes. Cutting this cost out of your budget has a positive impact on your overheads and will give your bank account a real boost. For this reason, a growing number of companies are choosing a virtual office solution for a fraction of the cost. This option allows them to access a prestigious business address, professional receptionist, mail service, and fancy meeting rooms as required.

The Importance of an Online Presence

Where do you go when you are looking for goods or services? The majority of the time, people search online for what they need and then make comparisons between different options from the comfort and privacy of their own home. Consumer behavior is shifting as people become more comfortable doing business via their phone or laptop rather than in a physical shop or office.

Location Flexibility

Being able to do business from anywhere is a major perk of running a virtual organization. We are seeing increasing numbers of people posting enviable Instagram snaps of them working out of the back of a van while traveling around the country, setting up their laptop overlooking the beach at a trendy café, or juggling work and kids at home. There is no doubt that being able to do business anywhere in the world from your laptop gives you a huge amount of freedom to make your work fit into your lifestyle (instead of the other way round).

Also Read: Do’s and Don’ts When Taking Your Business Online

Cut the Commute

How long do you currently spend in the car on your way to work? With the average commute time around half an hour in the US, this equates to 200 hours, or nine full days, each year. Instead of sitting in traffic or squeezing into a creaky, stale-smelling subway car with a bunch of strangers, you can reinvest this time into the business, dedicate it to a morning workout, or spend extra quality time with the family. Whichever option you choose, taking back that commute time is almost guaranteed to improve your mental wellbeing and daily happiness.

Global Team

Running a virtual business means decentralized your staff, which opens up a wealth of resources around the world. There are a host of benefits to employing people globally. You can take advantage of cheaper rates of pay in other countries, offering someone a wage they could never get locally while saving yourself a significant amount in the process. Some people may be concerned about the ethics of taking advantage of lower labor rates. However, supporting the economy in countries with minimal local opportunities and high unemployment rates is a win-win for everyone. Another advantage is the creation of a more efficient workflow. In most businesses, one person needs to complete their tasks before the next can begin on their own. Having a global team can convert a two-day job to a 24-hour turnaround as you’ll always have someone for whom it’s business hours.

While the importance of an online presence is indisputable, are you ready to reap the rewards of moving your entire business online?