You are Confident in the Future of Your Business
To get a lower-cost monthly bill, you’d need to sign on for up to ten years, and what early-stage business can afford to be so bold? But how do you know whether your business will continue to thrive?
Before you take the plunge, it’s crucial to understand how sustainable your business model is. Moving you into an official company location is a pricey undertaking, and if demand doesn’t continue to increase, the financial shock of high rent and utilities could be a real setback for your accounts in the long term. If you’re even considering workspace solutions, you should be feeling confident in your cashflow projections. If your profit has been stable for at least a year, and your projections show blue sky for the foreseeable future, then you should totally go for it.
You’re 100% Certain That Running a Business is What You Want to Do
If you’re thinking of signing a lease on an office, before you sign up for even a couple of years, you need to be sure that your business is here for the foreseeable future. Even if you’re doing well, you must be sure that this is your calling, and you won’t be tempted to throw in the entrepreneurial towel and take a tempting job offer when potential employers head-hunt you for the skills you’ve shown in starting your own business.
Whether you employ a couple of helpers or you’re a one-man-band, moving into your first office can be daunting for a small company. But if you see the signs, it could be time to take the plunge.