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Small Business: The Pros And Cons Of A Physical Office

Ten years ago, owning a small business meant having a physical office. But today that’s just not the case. Mobile devices, broadband connectivity, cloud computing and other technologies are allowing employees to work from home or on the go.  Now you have the option to do the same and ditch huge leasing and equipment fees while increasing the flexibility of your business. But should you?  While it has many benefits, operating from home isn’t right for every small business owner. Here are some big factors to consider.

The Pros

  • Client meetings and employee interaction

A physical office allows you to host client meetings and showcase your business. It also gives you the ability to collaborate with your clients in person—making it easier to know if you’re meeting their needs After all, you can’t read body language behind a computer screen. And employee camaraderie is a large part of most people’s lives. More importantly, in-person collaboration can be central to a project’s success.

  • Local physical presence

Whether your small business is in retail or is service-oriented, having a local presence can be key to your success. A storefront can showcase your products creatively to build your brand while catching the curiosity of people passing by. And if they like what they see, you get free advertising through word of mouth as your business becomes part of the community.

  • Sometimes location is everything

Establishing a store or office gives you the power to choose a location that makes it easier to grow your business. With careful research, you can determine where your customers are, spot your competitors, understand the history of the community and the demographics of the neighborhood. That way you can determine which areas are most receptive to your business—especially in underserved locations where your services fill a need.

The Cons

  • Higher costs

The overhead for a physical space can include maintenance, insurance, furniture, utilities, storage space and equipment costs so it’s easy to see why small businesses are choosing to work from home to save money. But what about all the business needs a physical location covers? Virtual office solutions can help.

Davinci Virtual Office Solutions provides you with office space, which includes a business address, mail forwarding services, optional lobby directory listings, access to fully loaded meeting spaces and a wide variety of cutting-edge business services. You can use this space only when needed and pay a low monthly fee. You can also use your new office address for business licensing or registration and market your new company address on search engines and Internet directories.

  • Less flexibility

Requiring employees to travel to a physical location each day gives them less flexibility and may impede their productivity. Working from home or on the go allows your employees to work longer hours while they have the flexibility to take care of their personal obligations. With a more flexible schedule and less time spent commuting, production and results, not punching the clock, become more motivating factors.

 

And when projects come up requiring client and employee meetings, Davinci Meeting and Conference Rooms gives mobile or home-operated businesses the option of renting meeting space with all the perks of a physical office in full-service professional business centers conveniently located around the globe. You can reserve day offices, conference rooms or boardrooms, as you need them.

  • Higher Payroll

A physical location requires hiring an employee to work the front desk during all hours of operation. Along with eliminating rental costs, you can remove the front desk salary from your payroll by working from home. Of course, phone calls will still need to be answered, but you can reduce the stress of having to answer them all yourself by using Davinci.

 

Davinci Virtual Receptionists are live, offsite specialized receptionists who can answer your calls (and screen and forward them) make appointments, place orders, process payments, provide customer care and make outbound calls for a small monthly payment.

  • Limited talent

When you have a physical office, the hiring process is usually the same: you find someone locally either through a recommendation or by placing an ad. You and your nearby competitors are all fishing in the same employee pool. With the ability to work with anyone, regardless of his or her location, you can cast a wider net to find talent that puts you ahead of your competition.

  • Marketing is more challenging

Marketing locally has higher costs that include billboards and signage directed at a smaller customer base. By eliminating those costs and hiring a service that can help design a professional website with the right SEO, you can reach a much larger customer base.

Consider all aspects of your business

 

If you have a small number of employees a home office may make the most sense for you—especially for reducing overhead costs. But if you’re introducing a new line of jewelry, having a physical location to showcase it may be essential. Whichever option you choose, there are many new and emerging resources that can help you grow a physical or remote business.

 

Reduce the cons of a physical location. Live chat with a Davinci expert receptionist to learn more.

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Small Business Tips: Six Ways To Reduce Overhead Costs

Small Business Tips: Six Ways To Reduce Overhead Costs | Davinci Virtual

Here’s a daunting fact: While more than 500,000 small businesses will launch this month, just as many will fold because they can’t meet overhead costs. Sure, there are factors beyond an owner’s control, like the economy and unforeseen industry changes, but successful small businesses find ways to pinch pennies, adopt wise practices and discover new innovations that save money.

Here are six suggestions:

  1. Go paperless.


It isn’t just for bank statements anymore.  Paperless options are enhancing how people run their business. For example:

  • If contracts are part of your business, companies like Docusign have e-signing services that make documents easy to complete from thousands of miles away, saving time and shipping costs.

  • Need to get hardcopy documents into your employees’, partners’ and client’s hands? Professional scanning companies can turn around large volume of documents in one day by converting them into CD-ROMS, DVDs or simple emails and integrating them with any software system you choose.

  • Cloud computing has become a business game-changer. Cloud-based services now allow you to easily share documents with coworkers and clients so last-minute meetings can be scheduled in an organized, efficient way.



  1. Evaluate your needs.


Make a list of all the items you spend money on for your business and then categorize them into essentials, enhancers and things you don’t need. Take the third list and eliminate everything on it. Take a good look at the “enhancer” list—are you getting a good ROI on each investment? If not, cut those, too. Whether it’s a barely used landline or a web service that could be replaced by a less-expensive service provider, every little bit counts.

  1. Use a virtual office space.


Working from your own home is already a cost saver, but it poses challenges—like where to hold client meetings. Gathering around your kitchen table with Fluffy rubbing up against clients’ legs might not leave the best impression. Davinci Virtual Office Solutions was created to give you a better, cost-sensitive solution.

We provide office locations and virtual office services worldwide. With professional business addresses in over 950 prime locations, we offer mail forwarding, lobby and directory listings, access to conference rooms and day offices, catering, administrative services, business support centers and more.

  1. Stay focused.


Likely you already use the clock to your advantage, but distractions happen—especially when you’re working from home (the dishes from last night, the random knock at the front door, phone calls both business-related and otherwise).

Gain valuable time-management techniques, like multitasking and daily planning, to stop the disruptions.

  1. Use a virtual receptionist.


Another way to avoid distractions so you can concentrate on growing your business is to hire a virtual receptionist—and it’s a lot less expensive than hiring a staff member. Davinci Virtual Receptionist offers live, offsite specialized receptionists who can answer your calls (and screen and forward them) make appointments, place orders, process payments, provide customer care and make outbound calls for a small monthly fee.

  1. Free advertising


Use that social media. Twitter, Facebook, LinkedIn and other platforms are a small-business owner’s way to easily and cheaply spread the word about their business. Why not ask a client to take a moment to write a LinkedIn review in exchange for a fee discount? Or simply ask a client to post a tweet about their experience. It’s free advertising with a vast audience.

The big picture

Owning a small business is an exciting, challenging endeavor. And there is no way to eliminate overhead. But with a smart business plan in place, using all the resources available to you, it may become the most successful move you’ll make in your career. Learn more about how Davinci can help. Contact a member of our expert team today.

 
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Business Glints and Glimmers in the Emerald of the Equator

indonesia-webJust north of Australia and the rich coral paradise of the Timur Sea lies the island nation of Indonesia, the Emerald of the Equator. You may covet this Pacific gem for its abundance of natural resources, its thriving manufacturing sector, or its lush tourism industry, and you know the time to move in is now. Its economy is starting to take off, and you're poised to reach in and earn a few of those riches for yourself. All you need are the tools to do it.

When it comes to navigating Indonesian commerce, you know where your efficiency issues lie. Long and expensive flights, customs, and local taxes can be a headache to handle. In fact, if you or other employees relocate to the islands, you have to pay income tax even if you're a foreign national. Skipping a local office is the way to go, but you still need a local address to conduct business and have a good reputation. That's where Davinci comes in.

Davinci virtual office solutions allow you to rent an Indonesian address without maintaining local office space. You can have a primetime address in a respectable Jakarta business center, but you never have to worry about managing a distant office or paying overhead. Davinci can forward any mail sent to the address to your desired located. It looks fantastic on paper while sparing you a lot of expense and hassle.

Inspirational speaker Zig Zigler once said, "You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win." If your goal is to become a mover and shaker in Indonesia's growing economy, take Zigler's words to heart. Plan to make it big while maximizing your time and monetary efficiency with Davinci, and your business is already set to put the glimmer of the Pacific's treasured emerald nation in your hands.
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Five Ways to Prove Yourself as an Entrepreneur

target-webWhether you've been dreaming of owning your own company since childhood or you're longing to break loose from the confines of a corporate job, the opportunity to start your own business is too good to pass up. Now that you've got the ball firmly in hand, it's time to show the world you're ready to tackle any challenge coming your way. Here are five surefire ways to prove you're a serious entrepreneur.

Embrace Your Fears

Entrepreneurship gives you the chance to control your own destiny, but this can be a frightening prospect too. Acknowledge your anxiety, but don't let it stop you in your tracks. Embrace fear as a force that can power your drive and determination.

Become an Expert

Whatever your chosen field, you'll need more than a passing knowledge about your product or service to succeed. Do your homework, research the competition, and build your reputation by becoming a go-to source for reliable information.

Perfect Your Pitch

You are your company's primary asset, so ensure you're ready to pitch your product at every opportunity. Develop a personal yet professional narrative demonstrating your passion as well as your confidence and expertise.

Target Your Market

One of the most common mistakes start-up companies make is investing too much time and money into development. It won't matter if you come up with the most innovative product in the world if no one knows about it. Start marketing early, and engage your target audience with a steady stream of information.

Take Advantage of Every Resource

From social media to cloud-based data storage, it's important to take advantage of all of today's high-tech resources to put yourself on a level playing field with your competitors. Remember: you don't need to rent expensive real estate to expand your reputation. A virtual address from Davinci virtual office solutions lets you enjoy the prestige of an upscale location without the associated costs. By using a few of these strategies, not only will you prove yourself as an entrepreneur, but start-up owners will be coming to you for advice.
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Taking Your Business to New Heights in Hong Kong

hong-kong2-webVenturing into the fast-paced business environment of Hong Kong is both thrilling and a bit nerve-wracking. From the city's breathtaking skyline to its crowded sidewalks and boisterous canteens, Hong Kong is a city overwhelming to the senses at every turn. Once the first wave of culture shock has washed over you, however, the exhilaration of doing business in Hong Kong takes hold. When your business interests bring you to one of the world's leading financial hubs, you know you've arrived.

Whether you're headed to Hong Kong to raise capital or to expand your brand in a new market, opportunities abound in this supercharged city. The city known as one of the Four Asian Tigers roars with excitement and prospects for a bright financial future. Around 22 percent of the world's IPO capital is raised here, and more corporations are headquartered in Hong Kong than in almost any city in Asia. Competing with seven million people for your share of the city's 263 billion GDP won't be easy, but you're determined to toss your hat into the economic ring.

To help ensure your success, take advantage of every savvy strategy available to you. Your first step is to overcome one of the city's greatest obstacles: exorbitantly high rents. More than 1,200 skyscrapers crowd Hong Kong's skyline and more structures are added to the concrete jungle every year. The lack of land space in this vertical city drives rents sky high.

Davinci virtual office solutions can help you establish a presence in Hong Kong without committing to long leases and expensive rentals. Through Davinci, you can rent an address in the city's most prestigious business neighborhoods while continuing to run your company from another location. All correspondence directed to the address will be forwarded to wherever you like. With Davinci virtual office solutions on your side, your company's reputation can soar as high as a Hong Kong skyscraper.
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