“Popularity and increase of virtual offices has grown exponentially since the beginning of the recession.” -Frank Cottle
About a month ago, William Edmundson from The Price of Business hosted Frank Cottle, Chairman of ABCN, to do a podcast on Virtual Offices: Flexibility, Small Costs, and Big Benefits.
The flexible workspace industry has evolved greatly in the last few years, widening its scope from serviced and virtual offices, to coworking and shared workspaces. Though the industry has evolved and changed in many ways, many are still unfamiliar with all that our industry has to offer.
People + Place + Technology + Highly Flexible Service Agreements = Flexible Workspaces
Coworking has taken center stage of the flexible workspace industry in the last year, but other types of flexible workspaces also continue to thrive as people change the way they work and companies incorporate remote work strategies into their daily operations.
Though known to a lesser scale, virtual offices have proven to be a key solution for many in today’s work revolution. And contrary to common beliefs that it’s usually solopreneurs or early stage startups that take advantage of them, Cottle explains in the podcast how large corporations and Fortune 100 type users have experienced first-hand the benefits of using virtual offices.
The main benefit that many see in using a virtual office is that they significantly reduce overhead costs. “A virtual office reduces a company’s cost by reducing their commitment to any real estate at all.” But the benefits go beyond that, as Cottle explains in The Price of Business.
Not only do companies and entrepreneurs get to create and have a presence at one or multiple locations, they also have staff supporting them, the freedom to come and go as they need, and the option to book meeting and office space to meet with clients and guests.
Whatever the size of the company, it’s likely that they have employees or suppliers at a different location. “By creating a virtual office in another zone, you can make sure that you service your clients and suppliers better,” besides the fact that virtual offices can help give a more prestigious and better company image.
To get all the details, listen to the podcast below (feel free to jump to second 55) or click here.