RUN THE MONEY
Follow Run The Money

How To Have The Right Space For Your Business

  • March 24, 2020

If you're reading this, I'm earning money. Thanks for helping to feed my family. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not a CPA, lawyer, or doctor, although my parents wanted me to be all three. So, talk to a professional before acting on anything you read below.

How To Have The Right Space For Your Business

Starting a business is no easy task.

And while that is no secret, this fact of business operation can result in a lot of elements of owning and operating a business become overlooked. If you have a great idea for a new business, there are a million questions about the product, hiring and marketing that immediately pop into your head.

But what about where you are going to house your business, especially as you hire more and more employees? Here is how to find the right space for your business.

Consider Location

When determining where to put your office, location matters. If you're in an urban area, do you want to be in the thick of the action in Midtown Manhattan or Downtown San Francisco or would you prefer a more affordable option out in the suburbs? Think about what the general age range of your employees will be and where they will commute from.

Related: 

Then make a decision that is in line with your budget and your priorities in terms of what location would best situate you for success. You can generally find commercial space for rent in many areas and types of neighborhoods, so it's really up to you to make the call as to where you think your business will best operate.

Think About Floor Plan

The floor plan of your office will dictate the atmosphere and workflow of an average day. Think strategically about whether you want your office to be open-concept or if the type of work your employees perform would best be done in separate individual offices. The floor plan is generally a decision that should be made based on the type of work that your company does.

If you consistently have employees working on projects together and bouncing ideas back and forth, an open floor plan might be best for their ability to get work done together. If your employees' work is a bit more individually focused, having separate offices or cubicles is probably the way to go to eliminate distractions and ensure that your employees always have the ability to focus. Your floor plan plays a big role in dictating the success of your company. Think about it strategically!

Office location and floor plan are the two most important elements to consider when finding the right space for your business. Think about the priorities of your company and how to best achieve them. With the right office, you can find success quickly.

>