This 1 Change can Reduce Costs & Increase Profits for your Business
Updated June 28, 2021
What’s the #1 concern you have for your business? Likely, reducing costs is #1 or close to the top. Growing sales, gaining new customers, penetrating new markets…these are all goals for your business. But when it comes to that nagging and underlying concern, the one that keeps you up at night or prevents you from tackling new growth actions. It’s more than likely that eternal question HOW TO REDUCE COSTS.
If you have a home-based business or online business with a small office or coworking space. Or a small business with an office and looking to expand. If you fit any of these businesses types, than this 1 change can drastically reduce costs for your business. Start a Virtual Office!
What is a Virtual Office?
A virtual office provides you with a digital platform from which to conduct operations remotely, but also gives your business a physical business address and presence in a desired location. But it’s not just a street address; virtual offices offer a range of services to help your business run efficiently from wherever you are! To find out more about what a Virtual Office can offer you, Click Here. Now let’s look at all of the ways that a Virtual Office can help you reduce costs for your business!
Reduce Costs of Rental and Overhead vs. Physical Office
This one is probably the most obvious of the cost savings if you currently have a physical office space are in the process of looking for one. Leasing costs, utilities, maintenance, cleaning, management, and professional costs are very steep for a physical office. However, for a very reasonable monthly rate, you can get a Virtual Office Address with many of the services you are looking for from a physical space. Services such as Mail Service, a Virtual Receptionist, and access to coworking space meeting rooms as needed, are all available to you. Check out What is a Virtual Office? to take a closer look at these services.
Premium Location Business Address without the Premium Cost
A premium city address can add credibility to your business. However, renting your own physical space will definitely cost you. Furthermore, if you have a home-based business, using your home address can also expose you to personal risk. A Virtual Office can help to reduce costs by giving you this premium address to use for any legal, promotion, marketing, or other purposes. And, some of the companies offering Virtual Offices also have physical coworking and meeting spaces, so you can meet clients there in person. To learn more about the top cities to set up your Virtual Office, click here.
Mail Management Cost Reduction
Depending on the type of business, you may have a lot of paperwork in the form of documents, contracts, invoices, payment. While much of our world has moved into the digital realm, traditional physical mail is still very much alive for these reasons. Some Virtual Offices, such as Starhub, offer mailbox and mail services to take the sorting, mailing, scanning, and prioritizing pressure off of you! That means that your precious time is not spent on mail and can be instead spent on driving growth for your business.
Reduce Costs of Calls
Answering phone calls can take hours of your time. Not answering calls could mean missing that one huge opportunity. So, what do you do? A Virtual Office can provide you a Virtual, but Live Receptionist who can take those initial calls and screen them for you. That means, you save your time, which is a high cost by the way. You never miss a call and you can call back those clients or potential clients that are most important.
Employment Opportunities Increase and Costs Decrease
There are two ways that you can reduce the cost of employment. First, with a Virtual Office, you have a virtual mindset. Therefore, you aren’t tied to your local community for hiring talent to help you grow your business. Instead, you can comb the country or even the world to find the right person as the right cost to fit your needs and budget.
Second, there is no increased cost of a larger office space for a larger team. With a Virtual Office, space is simply not a limiting factor in your equation to success! So now, you can grow your team to grow your business without increasing office costs.
Reduce Costs of Commuting!!
Aside from potentially saving your sanity and preventing you from entering into anger management after a 1-2 hour high-traffic commute, there is a cost-savings opportunity to eliminating a commute. For one, you save time and time is money. A virtual office ensures that you never have to include a commute in your workday, which leaves time to do the tasks that really matter to your business. Secondly, there is of course the cost of the commute itself, including the car, gas, train, or other costs. This can be for your and also any employees.
Expand to New Locations at a lower cost
Whether you are looking to expand your business to a new city, state, or country, a Virtual Office can help to do this with minimal cost. Many Virtual Office providers have addresses in cities around the world or have a central address that gives you unique access to certain markets. For example, if you are looking to expand to Latin American, having a Virtual Office based in Miami provides you a unique access point to many LA companies.
Opportunity Cost – Work-Life Balance!
Let’s face it, starting, maintaining, and growing your own business is not a 9-5 job. You think about your business and may even work at it, at all hours of the day and night. With a Virtual Office though, the trade off is that you can do this from anywhere at anytime. So, if you want to take a vacation with your family, you can do so and still be “in the office”. Your Virtual Receptionist can be answering the phone and notifying you of any emergencies. Your mail service can be sorting through mail to notify you of any urgent needs. You can have access to your Virtual Office and team members whenever you need to, but yet still spend time with your family.
Are you ready to Reduce Costs for your Business with a Virtual Office?
At Starthub, we offer flexible and comprehensive virtual office packages – and they start at just $25/month! We’ll even give you your first month FREE. Just click here to get started. You’ll receive a prestigious mailing address in downtown Miami, dedicated mail handling services from a talented team, and an innovative digital platform to receive and direct your mail. Plus, 24/7 customer support. For more information on why Starthub is the best choice for your virtual office, click here.
Read more on ways to reduce costs for your business and drive growth.
- PR Strategies for Small Businesses – lower cost marketing tactics
- Website SEO Tips for Small Businesses – organic, low cost way to bring in new customers
- 5 Marketing Essentials for Customer Acquisition
- Improve Efficiency with Virtual Office Business Services