Tuesday, May 26, 2015

5 Practical Reasons You Should Run Your Business Remotely

Running your company remotely is a feasible and very attractive option for many entrepreneurs.  The technological tools exist to share and collaborate on documents, you can communicate in real time and it’s attainable to meet your deadlines.  There are also many practical advantages.  Here are some reasons you should run your business remotely:

Photo via amistadbonds.com 
Lower startup costs.
This is a no brainer, but a very important advantage.  For a young company, lower overhead costs are a dream come true.  Saving on office rental and running costs allow you to hit the ground running with minimum expenses.  You can use those funds to best develop your product or service and make yourself more competitive.

Purposeful communication.
Not sharing a brick and mortar physical space doesn’t mean less communication. Often it promotes a need for more frequent and purposeful contact.  Without the ability to walk into an employee’s office at any given time or have a talk in the break room means each and every point of contact becomes essential.  Meetings have a new meaning and employees have a mutual respond for one another’s time.

Team quality.
On paper, remote working may seem like you’ll be more relaxed…and it’s a possibility with the right team.  Due to distance from your workforce, it’s essential to make the right hires.  Find a team of people that are disciplined with a strong work ethic. 

Give your employees space.
Space from your employees promotes a sense of trust.  If you have the right team, your employees can feel empowered and produce quality work, even without you breathing down their necks.  Working together, but at a distance encourages employee growth and hopefully they’ll thrive on the responsibility.

Extend your reach.
A business without a localized office gives you the ability to hire employees around the world. A global presence gives your company diversification while allow you to tap into problems with a different mindset and expose your product or serves to more markets.  Through hiring people that can’t commute to an office like working moms, you’ll see different ideas and innovation.

So many entrepreneurs live and breathe their startup. Their passion is the drive of the young business.  Sometimes being up close and personal can lead you to see problems in just one way or approach things from a specific angle.  Having some distance encourage you to look at opportunities differently.  Running your startup remotely is practical and more young entrepreneurs are seeing the undeniable benefits.

What are your thoughts on working remotely?

Lori is a work-at-home mom living in Noblesville, a suburb of Indianapolis.  She is mom to two young children and enjoys spending time watching them grow.  Lori enjoys shopping, spending time with her husband and kids, reading, and traveling.

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