Virtual work environments have changed the conventional business landscape and with their ever-increasing implementation, it is obvious that the trend is here to stay. It is not an option; it is required to remain ahead of the global competition that businesses face each day. But failure can go hand and glove with the virtual teams and when that happens, it hurts the productivity and growth of an organization.
The good news is, the management can avoid failures by simply deploying the tools, technology and training and ensure that their virtual setup is capable of delivering the ROI with regard to increased productivity and competition. In this guide, we will discuss the benefits of a virtual office space, what features to look for in one, and how it compares to other office space solutions for small businesses.
What does a Virtual Office mean?
A virtual office is an all-out business arrangement; offering the same aids and assistances as a conventional office space, yet at a fraction of the expense. The fundamental difference between the two is the access, Virtual office space’s access to office is an on-demand basis.
Features of Virtual Office Space
1. A professional business address and/or phone number
2. Call answering and call forwarding along with a live receptionist
3. Mail receipt and forwarding
4. Access to physical office space, including conference rooms and private offices
5. Essential business services like – high speed WiFi, Audio/video presentations, Fax, Printing, Basic catering like- tea, coffee, etc.
6. Occasional networking and shared events
7. Access to other office locations in the provider’s network
How is Virtual Office Space helpful to a Business?
The essential and most evident advantage of a virtual office space is that it assists your business to explore and be more established, as it gives you access to the features of a dedicated office space. Hence, giving you a chance to create a favorable impression on current and potential clients, while your teams are working from home or from other co-working office spaces that are convenient to you and to your teams.
Who Can Benefit from a Virtual Office Space?
Any type of business, be it a small business, a start-up, a solo entrepreneur or a large organization, can benefit from a virtual office space. But here is the list of a few specific use cases –
Professionals who are not willing to disclose their contact details – address, phone number, etc. on their marketing materials or business documents.
1. Freelancers who don’t have any workspace but want to maintain a marketing presence.
2. Businesses venturing into new regions, yet lack a permanent physical presence.
3. Businesses getting access to new clients who want to work with someone native to their place.
4. Small businesses who want to cut cost of support staff, yet want the services of the same.
5. Sales team that is mostly travelling, yet need an office space for in-between meeting
6. Small businesses, who need fancy addresses that are otherwise out of their league.
Cost of a Virtual Office Space
There are varying factors that determine the definite cost of a virtual office space. A few such factors include – location and type of services and facilities you need for your space. Different providers have different packages for their clients- like
1. The address package – This package brings in the use of an address, courier and mail management services and selected access to physical office space.
2. The communications package – This package brings in only the call features like – a human receptionist and a local telephone number.
3. The Membership package – This package brings in the access to board rooms, coworking spaces and private offices at a specified rate.
4. The Virtual Office Package – This package brings in the benefits of all the above packages, along with a few other monetary benefits.
Bottom Line on Virtual Office Space
The concept of virtual office spaces helps the businesses to have an uninterrupted marketing presence along with the litheness to give a base to their business at a location that is upmarket and reputed, while they and their teams work in a more convenient and affordable location.