Hey gang, thanks for joining me. Today, we’re going to talk about something that most personal finance bloggers are going to need to think about at some point. As bloggers, we make our living online. Our websites are our income streams and our couches are our offices. However, at some point, using your home address as your office address is going to become a bit played out. So, you’re going to have to make a choice, go virtual, or rent a real, brick and mortar office. Here’s how I would go about choosing one or the other…
Step #1: Think Of Your Budget: Neither one of these options is going to be free, nor cheap. However, a virtual office can be found for less than half of what a standard brick and mortar office would rent for. Therefore, much of this decision is going to depend on the budget that you are able to come up with. If that budget is below $1,000 per month or so, chances are a virtual office will be best for you.
Step #2: Think Of Your Business Needs: One big question to ask yourself is, “Will customers be coming into my office to see me?” If the answer is yes, you may want to think about a brick and mortar location. When it comes to virtual offices, your office is still your home. However, one way to get around inviting your clients to your home is use one of the meeting rooms offered by a virtual office. Something important to think about however is where those meeting rooms are, how nice they are, and how quickly you’d be able to set up for a meeting in a room like this that does not have everything your home office would generally have.
Step #3: Make The Big Decision: Now that you know what’s in your budget, and you’re certain that you know what your business needs, it’s time to make the decision. Taking into account your budget and your business needs, choose the option that fits best. Also remember that if a brick and mortar office is not in the budget, but your business needs demand one, there’s always the possibility of staying at home for a few more months to increase profitability so that you can comfortably make the big move.
It’s nice having a brick and mortar office. However, in most cases, this is completely, 100% unnecessary. However you don’t want to have customers coming to your home with their questions. Instead, working from a virtual office can really bring down the cost, and in most cases, provide just about anything that a brick and mortar building would provide. You’ll be able to enjoy your own office when you need one, a receptionist to answer the phones for you, and you’ll have a business address for everything from business cards to merchant account applications. All in all, if I was going for an office, it’d be a virtual one.
What would you choose, a virtual office or brick and mortar location?