Savvy Business owners are transitioning from the REVENUE DRAINING BURDEN of Brick & Mortar business models to REVENUE SAVING Virtual Offices Models. With the advancement and reliability of WIFI, innovations in communication technologies and an abundance of wonderfully performing Apps, companies can efficiently and successfully operate their business from any location in the world. Gone is the NEED for a physical office and by reducing overhead cost associated with B& M offices, reinvesting that revenue in areas that will show a return on each dollar spent, your company will actually benefit from leaving B & M behind.
Consider these savings on a monthly basis. Rent Utilities Electric Sewage Trash Insurance property casualty Gasoline Office Security Building Maintenance
One time Starts Up cost Hardware - Computers/laptops; Network router; Uninterruptable power supply; Under floor or wall-mounted ducting for computer cabling; Surge protectors; printers; Copiers Furniture - Desks; Chairs; Lamps; Rugs; Storage; Blinds; Sofa; Coffee table Break Room; Refrigerator; Coffee Maker; Microwave; Coffee; Water
OSHA Signage and Fire Extinguishers
Add all the monthly expenses then multiply that sum by 12. Imagine reinvesting the sum in R&D or Marketing. And eliminating that one time office furnishing cost will prove to be another substantial revenue savings.
In addition to the monetary benefits, there are productivity benefits as well. •
You are no longer limited to talent that can physically get to your office. You are now have nationwide and global access to the very best talent available.
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Your company is viewed by that talent as a “forward thinking” company and you have less of a chance of recruiting a Ghost Employee.
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More productive project meeting - With meeting software like zoom, Uber Conference, Google hangouts, you can have 10 or more people collaborating on projects by video. You can share documents on screen, make edits, update progress. These types of meeting are much more focused, no side chats, cracking jokes, doing the eye roll at ideas.
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Increased Productivity - you'll see an increase in productivity almost immediately. Those who are meeting performance goals are easily recognizable as are those who are wasting time. There are very reliable time tracking software programs that analyze how each staff member is performing including when they are most productive. You can schedule their works hours based on those findings.
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No Need for Relocation – As you companies grows and you have to ad staff or workspace, you will not have to go through the problems and expense of finding new office space and making that dreaded time consuming business interrupting move.
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No office politics, drama, bullying, gossip, sexual harassment claims and work place violence. This behavior cost real money. Nationwide the cost for these behaviors in the workplace are: • Lost productivity - $8MM • Employee turnover - $16MM • Sexual Harassment/Bullying Litigation - $104,000 per case with settlements up to $1.4MM
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Commuting gone – time, transportation and gas greatly reduced
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Flexible schedule – Just like with your employees you can determine what are your most productive hours giving you a more balance between your work and personal time.
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Weather not an issue. • •
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Unless internet goes out, snow can be up to your staff member’s necks, the work can go on. With your office info located in the cloud and on software providers software servers, your company will have less chance of suffering catastrophic data loss and shut downs because of weather.
Seasonal illnesses not an issue- the bug cannot jump from one staff member to another, eliminating down time and in most cases, staff can still continue to work.
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Bruce Jaspen in an article in Forbes Magazine states that $576B is lost in this country due to staff illnesses. On average, employers pay $135 per day per employee in paid sick leave for those out with the flu. And if you hire temp staff to replace that employee the price goes even higher
Improved employee morale. • Staff avoid the stress of commuting and the time it takes to perform the morning routine; hair, make up, Etc. • Staff can save money on: Wardrobe, Gas/Carfare, Lunch • If child or family member in the home gets sick, that staff member does not have to take off to care for them This all makes for a happy loyal staff which leads to a big, big benefit: •
Employee Retention: Just like in business it cost more to acquire a new customer than it does to retain a current client. It is the same with staff and employees. When you calculate the cost of recruiting, interviewing, hiring, training and the time it takes to get a new staff member up and running, that cost can really add up. According to Sutton Fell, An employee that makes $50k per year can cost as much as $10k to replace and much as $3500 to replace an $8.00 hr. employee. Give new meaning to “Cheaper to keep him/her.”