How to choose the right startup office? Even in the age of increasing digitization, startups still need physical location to stand out in the market. The business relationships built are greatly based on the people themselves, who, despite using virtual world solutions, still belong to the real one. Therefore, the location of a startup becomes an important factor that determines whether or not you are going to be successful.
Startup office – table of contents:
When creating an image of the whole company, it’s also worth considering its very location. Apart from its obvious functions, such as being a place to meet investors and customers, the headquarters of a startup is an important element in the marketing campaign. A properly chosen location becomes an excellent showcase of the business, encouraging more people to start working with it.
During the very first stages of setting up a startup, it is important to consider what you want to achieve by choosing a particular location or startup office. The designed space should be tailored to the size of the individual teams and the specifics of their work. A location that suits the founders, employees and customers becomes one of the most important assets of the entire startup.
In particular, businesses that rely on frequent personal contact with customers should have a representative and well-located office that can be easily reached. On the other hand, in a situation where the business does not require direct interaction with customers on a daily basis, choosing an office on the outskirts will reduce unnecessary costs. The saved funds are then used for the development of other business areas, which ultimately has a positive impact on the efficiency of the startup as a whole.
Companies that are just starting out in the market do not yet have a complete team and are still looking for the right employees. By choosing an office in an area preferred by the target workforce, you increase your chances of reaching the best candidates. At the same time, locating a business in the vicinity of universities can attract young, talented individuals who will ensure further innovative development.
The location you choose for a startup affects not only the perception of your business by external recipients, but also the employees themselves. A modern startup office located in a well-connected area is becoming a strong bargaining chip nowadays, especially in the face of such a highly competitive employee market.
Good working conditions attract the best specialists, who, comparing similar job ads, most often choose those that offer a convenient location. Today, more and more employees try to keep their work-life balance, and do not blindly follow their careers. The opportunity to work in an interesting neighborhood with access to various forms of entertainment is therefore becoming a benefit that attracts young employees like a magnet.
Working with an outside investor requires good organization and smooth communication so that key decisions can be made wisely. Although there are no official regulations on the geographic distance between the parties, each of them should care about maintaining as close a relationship as possible.
Maintaining a long distance often puts startups at risk of losing support from an investor and minimizes their potential growth opportunities. A large geographic distance makes it difficult to organize personal meetings. As a result, it is hard for the investor to get to know the entrepreneur and to fully communicate their vision.
Minimizing the distance works especially well in situations where the investor-entrepreneur cooperation is based on mentoring. Being in the vicinity of the developing startup, the investor can give practical advice on a regular basis and react to problems that arise more quickly.
Startup office – summary
Location plays a huge role in attracting and retaining top employees and investors. Even though your startup can function without the office, and your employees might work remotely, the physical location has the power to make or break your business.
Read also: 7 startup roles explained.