The first steps of Stay or Go decision making

Before you dive into the process of analysing your workspace needs and priorities, there are a few basics that need to be established in order to provide a framework for your decision making. Here, we look at some of the key points to consider.

Establish your timeline

The first thing to do when deciding whether to stay or go is to map out your timeline. When is the date of your next lease break or expiry? At what point do you have to serve notice to your landlord? How urgent are your workspace change needs – can it wait until your next lease event or not?

The importance of location

You will also need to understand whether location – the one you are in now, or a proposed move – is central to your reasons for change. It may be that this factor alone dictates whether you stay and refurbish or move to new premises – although in reality the decision is rarely that simple.

Know your budget

Regardless of the medium and long-term cost implications of a move or refurbishment, you will need to establish a ballpark figure for how much you can commit to the process in the short term. Whether you choose to move or to stay and remodel, there will be a significant financial outlay, and understanding where the business stands on this will help to focus your efforts and rule out unviable options.

Top tip

It’s worth noting that in the case of financing your workspace project, you may have more flexibility than you realise. Office Workspace’s innovative Workspaceas-a-Service offering allows you to fund your workspace over time with a simple monthly payment, rather than an unwieldy upfront cost – helping you protect your working capital and mitigate risk.

Find out more at https://officeworkspace. com/workspace-as-a-service/