Going virtual means a business runs remotely, through a virtual office where a business and it's employees are enabled to work remotely, offering goods and services to customers that are accessbile through the internet. Business owners and employees may also work from home, in different cities or in different countries, where they manage, co-ordinate and deliver services by means of technology.
There are many reasons to consider going virtual, I've listed the top three reasons that have a direct impact on your bottom line and productivity.
Of course a virtual office depends on your type of business but back office and support functions can easily be managed remotely. Virtual offices do not incur the costs of leasing or buying a building, associated maintenance costs as well as providing furniture, office equipment and cleaning costs.
The second reason is that by avoiding time spent commuting, you significantly increase your teams productivity. If you value your time and those of others, the last thing you want to be doing is wasting time commuting, and, if you have a family, the stress related to juggling commuting, work and family obligations, can have a negative impact not only productivity levels, but on the personal lives of you and your team. There are phenomenal tools that monitor productivity and output and still allow for team engagement and support.
Think about where you will get the best return for your money.
Is having at team that you see everyday and provide an office
space with everything that comes with that, worth more than
what you could be spending your money on - like marketing
initiatives and growing your business?
Really think about that. Because all these costs that we incur
for things that we think we need to have a business, actually
just eats away at our profits and really could be spent on
expanding our business.
The second reason is that by avoiding time spent commuting, you significantly increase your teams productivity. If you value your time and those of others, the last thing you want to be doing is wasting time commuting, and, if you have a family, the stress related to juggling commuting, work and family obligations, can have a negative impact not only productivity levels, but on the personal lives of you and your team. There are phenomenal tools that monitor productivity and output and still allow for team engagement and support.
We've been conditioned as a society about what success is and how hard we have to work to have it. We've been told how you have to get an education, to get a job, to be told what to do and then your success depends on how well you do, according to the people who tell you what to do.
While many may still be stuck in this mindset, the workforce is changing and the reality is that people crave autonomy. People want to do work that gives them a sense of purpose and where they feel they have control over their lives.
In breeding a company culture that truly wants the best people and who aligns with a remote office environment, the key things you need to be successful in adopting this approach is:
Hire people who value their time.These people are spending their time on high-value life time activities - either making money or doing the things they love - including the work they love. In working with clients in my coaching practice, the talent and skills you want aren't wasting their time on things that they are not aligned to, they're focused and goal orientated. These are the people you want to hire.
Set a clear mandate with clear deadlines. Avoid frustration by removing gray areas with clear mandates of what needs to be done with clear expectations and deadlines. Be on the same page and document it so that it's easy to remain focused as well as address any issues that arise.
Make sure they have the tools to get the job done.The people you actually need and want aren't going to work for you if don't give them what they need to get the job done. It's worth having a list of tools and how to access them on a centralised platform. Use a project management tool to communicate, share links, stay on top of deadlines and keep everybody in the loop. Do make yourself accessible so that you can address any issues that arise.
Measure people on their results and what they produce.With proper planning and the proper tools, give them the space to deliver on what needs to be done. Plan and automate check-in sessions with status updates. There's technology to help you manage this and you don't have to waste time managing anyone, thus freeing you up to focus on growing you business.
Save money and hire a virtual assistant. In the 4-Hour-Work-Week, Tim Ferris advocates using virtual assistants. I couldn't agree more. Hire permanently for those critical roles if you must but hire as you need for the others. Consider a virtual assistant for administration functions that can be done at a specific time of the month, for projects and specific skills that you may need on a demand-basis.
By decreasing employment costs by hiring as you need, you save money and minimize time spent on employee administration and regulatory requirements. Check out these virtual assistant platforms to assess what options suite your needs:
Apart from been able to significantly scale your business by going virtual, one of the clear benefits you have is the freedom to work from where ever you are. You can travel and vacate at your leisure, knowing that you can still manage your business as you need to without having to be there.
