LHave you asked yourself if running your business from home is better than setting up a physical office where employees are required to show up every day? It is normal for you to feel confused about this type of situation, especially if it is your first time starting up a business. To help you arrive at a decision, here are the pros and cons of running a remote company.
What are the advantages of running a remote business?
- Work with amazing people. You get to meet many people from different parts of the world who are equally talented as the people working on a regular office setting. Home-based employees are more flexible and are willing to work extra hours when needed since they do not have to worry about traffic or to get home early.
- Manage cost. One of the reasons why some business owners prefer working from home is because they want to cut down on operational expenses like electricity bills, monthly office space rental, equipment such as chairs, tables and computers. By having a home-based business, you do not need to worry about these things and focus on building a strong team instead.
What are the typical disadvantages of running a remote business?
- Challenge in terms of communication. Expect that communication is going to be more difficult amongst each other because a significant portion of employees are working remotely so a real-time response can be somehow difficult. However, one solution to the problem is to check out a club management software brought to you by a company like Coacha to make communication and other ad-hoc tasks easier to complete. Also, as the boss you need to initiate in communicating with your team members daily, to make everyone aware of your presence and build stronger lines of effective communication.
- Unpredictable output. When running a remote company, there are times that you will be working with employees who will unlikely experience poor internet connection at some point in time whether it is due to bad weather or provider issue. In case this happens, make sure that your other employees are willing to offer some help so that deadlines with the client will not be compromised. It would help if you also told your employees to have a backup internet and power connection in case of an emergency, to avoid loss of income.
- Instilling discipline and focus. Working from home or in a remote area can be challenging in the sense that your surroundings may have many distractions making it difficult to focus on the things that need to be done for the day. Whether you own the business or you work for someone else, you need to find a way to get the work done right on time.
It is a good idea to start your business remotely if you lack the capital to set up or rent a co-working space, as there are fewer risks to take and it will not hurt your pocket. However, just like any other business, you need to make sure that you are hands-on when it comes to its day to day operations.