Advances in technology are transforming the way that we work. Twenty years ago, running a business meant you needed four walls and a big sign on the door. Today, all you need is a mobile phone, a laptop, and a good internet connection. The increased flexibility offered by technological advancements has led to the rise of the virtual business.
There are clear monetary advantages to a virtual business, with renting an office space the biggest operating expense for traditional organizations. Also, a virtual business allows you to access a broader talent pool. The daily commute is no longer a consideration. Have you tracked down an amazing graphic designer in Budapest? Fantastic! Your social media specialist is based in Peru? No problem! If you are tempted to ditch the traditional office, here are some important considerations when building a successful virtual company:
Present a Professional Image
It is a big selling point for employees that they can work from home in their pyjamas, but it is essential to present a professional image to your clients. A virtual office provides organizations with the credibility and prestige associated with an inner-city address without the price tag of renting in a major city. Plus, you can access professional meeting spaces in a convenient, central location to conduct client meetings.
Virtual offices also offer businesses a dedicated business number, which will be answered by a professional receptionist. This comes in handy for small start-ups, home businesses and people who travel a lot for work.
Build a Strong Team
With a virtual business, it is more important than ever to hire the right people for the job. Your team will need to be able to work independently, be self-motivated and be accountable. While you can check in regularly and set project milestones, it is important to find employees that you trust to deliver high-quality work on time. It helps to establish personal relationships by learning a bit more about your employee’s lives and meeting them face-to-face.
The Right Tools
Communication is vital in any team environment, but it becomes even more critical in a virtual business. Make use of the full array of online collaboration tools available. You can use Skype or Google Hangouts for online meetings, and Trello or Asana for project management. File sharing tools like Google Drive or OneDrive, which are useful in any business environment for collaboration and version control, become essential in a virtual office.
Cultivate Corporate Culture
Creating a positive and engaging corporate culture with a virtual team is a big challenge because of the lack of face-to-face time. Virtual employees miss out on the proverbial gathering around the water cooler. Regular online team meetings and one-on-one catch ups assist in strengthening these relationships. Having a small team can also make it easier to foster more meaningful connections. Many organizations also use online chat tools like Slack to provide a forum for more casual conversations.
Structured Flexibility
Flexible hours are a significant advantage to working in a virtual team. You can work into the evening if you are a night owl or make time to attend your child’s preschool concert. It is best to set clear boundaries to allow for this flexibility while ensuring that the team is available when required. Some businesses will set virtual office hours so that employees know from the outset when they are expected to be available. Make sure that you take into account any different time zones to cater for all employees.
With a virtual business saving a significant amount on overheads, offering limitless scalability and allowing you to recruit from anywhere in the world, it is worth considering whether it is the right fit for you.
