COVID-19 has instituted a “new normal” for most businesses, and even after the pandemic is no longer a significant threat, it’s probable that things will never be exactly like they were in the before-times. Even many major corporations are rethinking their approach to brick-and-mortar operations. For example, Google is considering allowing employees to work remotely at least a few days each week indefinitely. Other Fortune 500 companies are adapting to the realities of a virtual workforce, but many of them are eager to get more of their employees back to working on company-owned property.
What about your business? Are you planning to focus more on in-person services, or will you continue to emphasize remote and digital opportunities? Let’s talk about the pros and cons of going totally virtual.
The Pros
A major advantage of a virtual business is that you probably won’t have to rent a business space. Plus, the part of your home that you dedicate to your business can be used as a tax deduction. There’s really no telling how much money you could save on overhead costs by working from home.
Another major advantage is time. Instead of commuting to an office every day, you’ll always be close to your business. You might spend less time on your appearance as well; unless you are meeting with a client on Zoom or a similar platform, you may not feel any need to put on nice clothes, do your hair, etc.
The Cons
As advantageous as a virtual business is, there are definitely some downsides. For example, some people find it difficult to organize their time and keep work in its proper place. It is important to balance business and personal time, and that can be a challenge if you are always steps away from your home office.
Another potential con is space. If you sell any type of physical goods, you will need a place to store your materials and packing supplies. Additionally, if you ever schedule any in-person meetings with clients, you should have a comfortable and private area in your home where you can receive them. You should seriously consider whether your at-home workspace can accommodate your business goals.
Need Help Deciding?
There is no “right” answer for whether you should operate a virtual business or set up a brick-and-mortar operation. If you need someone to bounce ideas off of and steer you toward decisions that are best for your unique situation, consider investing in coaching services. Caprice Coaching is ready to serve you!