Mistakes are stepping stones to rework the past, improvise the present for a distinct future. Mistakes are part of human life and there are chances of correcting them instantly or gradually.
Likewise, mistakes are part-and-parcel of businesses, and they can either be linked to office space, overheads, branch operations, sales, staffing, etc. But the scenario in a business is different compared to an individual. Businesses function on decisions, unanimous decisions, and at times decisions fail resulting in losses owing to mistakes.
Well, established companies have little effect on their normal operations. It is the new businesses or start-ups who face difficulty in resettling.
In this article, we are going to discuss mistakes companies make while choosing office space.
Office space is one of the major investment for companies. Office space is an area where businesses overstretch their budget. A mistake in choosing the ideal office space results in financial strain to the business and the chances of a decline in morale and productivity of employees. Here are a few mistakes companies make while choosing office space.
• Overlooking layout and design: To keep employees productive, efficient, and happy, an office with a suitable layout and design is imperative. Uniform arrangement of furniture and equal workspace enhance productivity and help the company do more business.
• Trying to cut costs: Cutting cost should be a priority for businesses. Companies try to reduce cost by doing everything in-house – interior design, furniture, maintenance, etc. for example. However, by trying to do everything in-house increases overheads.
• Not planning for the future: Most companies do not plan for the future while choosing an office space. It is important to focus on the growth aspects of the business. Proper planning helps at the time of expansion, downsizing or relocating.
• Signing long-term agreement: The most common mistake while choosing an office space. Long-term agreement deprives businesses the flexibility and freedom in space usage. Additionally, terminating an agreement can attract legal implications and charges.
• Signing-up for a low priced space: Pricing is crucial, but signing-up for low priced office space just to save a few bucks is yet another mistake companies commit. Low-Priced office spaces have fewer amenities and can affect the company’s image.
• Location and facilities: In an effort to save money companies compromise on location, facilities, commutable distance, resources, etc. while choosing an office. Ease of access and commute time play an important role in hiring employees and keeping them productive and happy at the same time.
Mistakes do occur when starting a business and things do go wrong, but understanding the meshes early and taking the right steps to avoid them can do wonders for businesses in the long run. There are various clauses to consider while choosing an office – with DBS Business Center companies get professional solutions right from a shared office to coworking space, virtual office to complete offices and conference rooms packed with amenities at an affordable cost that helps avoid common mistakes while choosing an office space that is fit for diverse industries.
Looking for the right office space, get in touch with DBS Business Center today. Call +91-22-4077 9100.