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Hanover’s Perspective

Is it Time to Move Your Business Out of Your Home?

Are you ready to take your business to the next level and move it out of your home? There is no doubt that working at home has its benefits. However, not having a professional location for clients to come to, lack of space and family distractions may be key indicators that it’s time to make the move. Here are a few considerations to make while exploring your options of expanding into a more professional office setting:

Pinpoint the Pros

Determine your reasons for moving your business. Working at home is a mixed blessing. Oftentimes, home-based business owners make it work to their advantage. However, many end up moving out of their home office for a number of reasons. Below are common triggers for moving into a professional office space:

  • Fewer interruptions and distractions
  • More professional interaction with clients
  • Increased office space
  • Increased business revenue
  • Enhanced business image
  • Being able to leave the office, and office issues, at the office

Weigh the Cons

Determine if a move is needed for your business to grow or be more successful. There will be lifestyle and financial changes to consider when analyzing your personal and business goals. You may have considered these factors when initially deciding to start a home-based business. You will need to undergo the same analysis when considering leasing or purchasing space. Some things to contemplate include:

  • Longer commute
  • Increased business expenses
  • Less time at home

Explore Everything in Between

If you aren’t sure you are ready or when the cons outweigh the pros for making the move, consider these alternatives to making the move now:

Balancing Home and Work Responsibilities

Home-based businesses are most successful when work performed can coexist with personal and lifestyle demands. Working in a home-office environment means you are continually faced with conflicting work and life demands, you never truly leave the office.

Consider Non-Traditional Employees

If your home office cannot accommodate additional employees or you aren’t comfortable with the privacy compromise, consider hiring staff to work remotely. Read more about non-traditional labor options such as virtual assistants, telecommuting and freelancers.

Consider Temporary Office Space or Coworking Spaces

Many businesses lease space within their office to other business owners. They often offer use of conference rooms, office equipment and technology to help others operate. If you are looking for more professional interaction, mentoring and networking in addition to sharing space, consider local innovation centers and coworking spaces such as the Dominion Resources Innovation Center in Ashland.

Worried You Are Missing Some of Your Market?

If you are worried that your home-based business is limiting your customer base, you can consider upping your marketing game. Learn more about digital marketing for your business at one of our small business seminars.

Do you think it’s time to make the move? If all answers are pointing to the moving boxes, look for our next blog post for simple steps for moving your business out of your home.