Budgeting 101: Here's How to Shuffle Your Finances to Afford to Expand to a Virtual Office

Posted on 01/06/2018

If you've been running your business from a home office, it can seem like a big step to expand to a virtual office. Working from home can be great, especially since you don't have to pay rent for your business. But in the end, you can only do so much from a home office, and if you really want to grow your business, expanding to a virtual office can be the perfect solution. If you're worried about the numbers, here are a few ways you can shuffle your budget around so you can afford to make the move to a virtual office.

Find Additional Revenue Through Grants and Investment

If your business budget won't stretch to allow you to expand, perhaps you need to start looking for new sources of revenue. There are many grants and investment programs out there that you may be able to take advantage of. Some grants are designed specifically to help startups get off the ground, and some investors are looking for startup entrepreneurs who have a great business plan but just need a little extra cash injection to get their business moving. If you're considering a move to a virtual office, see if there are any grants designed to help small businesses in transition in your area, or pitch your business to venture capital firms or angel investors and see if they'll back you.

Find Ways to Advertise for Free

If new revenue isn't an option, then you may have to find some ways to cut costs. Every business’s budget is different, but one popular way for business owners to save money immediately is to advertise for free. Rather than paying for ad space, you can focus on building a strong presence on social media, creating an awesome website by using a free tool like WordPress, and boosting your business's visibility in Google searches. That way, you can get the word out about your business without having to spend a fortune.

Consider the Advantages of a Virtual Office

Another important factor to take into account is the advantages your business will gain when you make the switch to a virtual office. While renting a virtual office might cost you more initially, consider the long-term savings. With fully equipped meeting rooms available, you'll never have to pay for conference room rentals again. And with call answering and virtual PA services, you can spend more time focusing on your business while someone else takes your calls and organizes your schedule. While you may need to shuffle around some finances initially in order to make the move to a virtual office, the expansion should pay off in the long run. With the new connections you'll make from your virtual office space, and with an impressive business address to back you up, you'll be able to close more deals and get more business. To find out more about what a virtual office can do for your business, Contact us here.
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