There’s a lot of talk among market experts and business consultants about the conditions needed for sustainable growth. For instance, they’ll decide that one country is perfect for expansion, while another is increasingly hostile. They’ll look at things like the culture, corporate customs, and legal structures when selecting the ‘friendliest’ regions.
However, the truth is that any location can be turned into a success story with the right strategy for growth. It’s not just a question of having the resources to expand. You’ve got to determine if the time is right for the market, what rate of development you can sustain, and how to access scalable assets and resources.
It’s no easy feat, but Servcorp has a few tips and tricks to share.
Consider Going ‘Virtual’
While virtual office solutions aren’t for everybody, they can be a lifesaver for young companies with a lack of launch capital. In fact, they can be useful for bigger businesses as well, because they represent an opportunity to ‘test’ the market without fully committing.
Virtual workspaces are designed to serve as complementary support systems for a home operation or existing venture. They offer fully equipped workspaces, but the idea is that tenants mostly use their own environments (home office, coffee shops, etc.)
The facilities at the virtual office (mailboxes, telephone lines, administrative support) provide a consistent, reliable remote foundation. So, you can start building up a market presence anywhere in the world, even if you don’t yet have a dedicated home there. For many entrepreneurs, a virtual office is the global office solution.
Find Yourself a Freelancer
You could say that virtual offices are like outsourcing the logistical responsibilities of housing and maintaining a business. They are cost efficient, and you pay for nothing more than what you need. The rules are much the same when hiring freelancers and remote employees.
Outsourcing work (or utilities) is a great way to support expansion because it leaves plenty of room for change. It isn’t possible to plan for every eventuality when entering new territories. However, if you can increase or strip back your resources at will, there’s a lot less risk.
Plus, it’s just not economically viable to be paying for a service that you don’t need every day, especially during those early years. Outsourcing web development, copywriting, web design, and other skills is a method of minimising waste and maximising output.
Get Out Into the World
One other thing, which virtual offices do very well, is collaboration. While they’re not exactly the same as co-working environments – they’re often larger and used on a more permanent basis – they do share similar features.
The inclusion of fully accessible, fully equipped suites is a chance to meet fellow entrepreneurs. Don’t forget that many investors have an eye firmly fixed on these facilities. They know that ambitious, creative types favour flexible routines and can often be found here.
If you can source a virtual provider that hosts regular pitch and networking events, don’t hesitate to get on board. You could encounter all kinds of people, with a diverse array of skills. Then, the next time that you need help with something, you’ve got a pool of talent to browse.
Why Going Bigger Can Mean Getting Stronger
The reality is that expansion can be tough. Every year, many businesses make the mistake of thinking that growing fast is the only worthy objective. However, being able to sustain your current rate of development is much more important. Yes, you need to be moving forward as a company, but you’ve got to lay the right foundation first.
