Saving Money on Your Business Relocation

Saving Money on Your Business Relocation

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Your business is your pride and joy. You’ve spent years building your brand, cultivating a base of loyal customers, and building a team that manages to surprise you with their dedication and ingenuity every day. But the curse of entrepreneurship is that you never get to sit back and say that you’re satisfied. You’re always searching for new ways to innovate. To bring greater motivation to your employees and greater value to your clients. And making operational changes that improve efficiency and productivity. 

A big part of this involves knowing when you’ve reached the limits of what you can achieve with your current infrastructure, whether that’s your technology, your personnel or your physical premises. There may come a time when you need to move to a new premises with better transport links, more space or (for retailers) a more prime location with better footfall. While we’ve looked at managing the logistics of a business move, here we’ll look at some ways in which you can cut the costs, improve your cash flow and prevent the move from putting a dent in your margin… 

Carry out an equipment inventory well in advance

In some ways our business premises are just like our homes. We can accumulate more and more stuff over the years which eventually ceases to be useful and becomes clutter. Take an inventory of your equipment well in advance and ascertain what you need to take and what you can do without. You may find that there’s a significant amount of equipment left that can be auctioned, offsetting the cost of your move. And the less equipment you’re bringing, the more affordable your move will be. 

Consider the timing

The timing of your move can also lead to significant savings. Like most enterprises, movers have peak seasons. Move in the spring or summer when conditions are warm and dry and you can expect to pay slightly higher rates. If you can defer your move to fall or winter, you may find that you’re able to make significant savings. 

Insure your valuables

If this is your first business relocation you may assume that movers are liable for damage to your delicate IT equipment, furniture and other items. However, this is rarely the case. Moving companies are legally within their rights to exclude certain liabilities from agreements with the companies that use them, and may reject responsibility for damages incurred to your goods. That’s why it’s vital that you ensure all of your equipment for the move.  

Invest in infrastructure to get back up and running quickly

When moving to a new premises, you need to not only consider the cost of the move, but the expense caused by a lack of uptime as you get your new premises fit for purpose. Partner with a networking specialist like Richmond Communications Group, Inc.. They can help you to get your telecoms infrastructure up and running faster so that you can resume business as usual and provide a seamless service for your customers. 

Moving to a new premises can bring out the best in your business. And when you’re proactive about the cost, you can prevent it from eating into your margins and impeding your cash flow. 

Explore New Markets For Business Success!

Explore New Markets For Business Success!

One of the best ways for a business to turn over more cash and increase the profit is to expand into other areas. Areas where revenue streams can be developed and tapped in to. Finding these markets can be hard, and they’re of course industry specific. The trick is to do it without overstretching yourself, and to be able to test the waters to see if your idea will succeed without necessarily wasting too much money. Now is better than ever to do this. So many businesses have had to shut down due to Coronavirus. Others have had to lay off staff, or decide to close down certain operations. If you have the ability to push into new areas, you might just save yourself running into a wall and flatlining your business. There’s undoubtedly going to be a global recession, where businesses struggle even more in the wake of Covid-19. Look ahead. If you can see any holes to push into with your business, you might just mitigate the issues the recession might bring. 

New Products To Ship

If you sell specialty or even general products, then it’s usually easy to start selling more of them. If you just distribute these, it’s even easier. The trick is finding a gap in the market and then selling on a product into that market. If you manufacture products yourself, you may have more difficulty as there are updated guidelines for manufacturing during COVID-19. Whatever you decide to do, it has to be backed up by well informed market research. Will the items you want to manufacture or simply just sell on be needed and wanted during a recession? Are they a luxury item or a necessity? Luxuries will be bought less if the recession bites particularly hard. Focus on your due diligence and remember that areas all will respond differently. This is also the case with whole countries. Some will be hit worse than others. Research is the only true chance at success if you push new products.

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Expand Into The Online Space

If you don’t currently have an online presence, now is the time to cultivate one. Some businesses are still high street operated or have no actual need to operate online. The issue here is that if something goes wrong, like it likely has with Covid-19, then your business won’t have any other option than to close. If you move into another area, you might be able to have money coming in from another stream. First you need to analyse what you do and work out whether it is suitable for the online space. It probably is. In fact, if you look online you might find competitors from other areas doing just the same. Look at what they do and work out how to best emulate them. It can be costly to do so, so make sure you really put the research in to see whether it would be cost effective. Pushing into the online space can range from simply setting yourself up on social media, to paying a lot of money to developers to set up your website.

Use Your Competitors

If you want to move in a new direction, have a look at what your competitors have done or are doing. This might be something you’ve resisted in the past, but it doesn’t mean outright copying them. Instead it gives you something to work off. If they operate in the same sphere of business as yourself, and have moved into other areas, this can be a logical step for you to take. Essentially, you can see whether that element has been successful or not and can use it to your advantage.

Employees May Have Ideas Too

If you’re struggling for ideas too you can use your employees. Especially those who have been in your sphere or industry for a long time and have experience outside of your workplace. Ideas sometimes come right from the bottom. Those people who are helping you run your business. It’s always worth asking them what’s going on and how they think the business can grow. They might have seen interest from somewhere else, or perhaps they have had a direct query. Brainstorm some ideas with them and see what they can come up with. For a start, this will increase morale because it shows that you’re willing to listen to other people’s comments and it also shows you’re fighting for your business and by extension your employees’ futures. You can do this online if you didn’t want to meet up due to Covid, think about Microsoft Teams or Zoom to conduct your meeting.

Top Ideas for Businesses Looking to Relocate

Top Ideas for Businesses Looking to Relocate

As a modern business owner, it is important that you make sure you do as much as possible to make the most of the modern business landscape. The good news for new entrepreneurs is that there has never been a better time to launch a startup, and it has never been easier to get your company off the ground. There are a lot of factors that you need to make sure you consider that play a massive role in helping with this. 

One of the biggest considerations you should make as a business is relocating. Now, there might be a number of reasons why you need to do that, and there are plenty of benefits to doing so. When you are thinking about the best ideas for business relocation, it is important to make sure you understand what is involved. Here are some of the key things you are going to need to consider to help you make the best of this.

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Where are You Moving To?

The first thing you need to make a decision about when it comes to a business relocation is where you are going to move to. This is so much more important than you might think, and it can have a massive bearing on the way the company is able to have success. There are so many different parts of the country that are better suited to your business than where it currently is. Choosing and deciding where and why you are moving is the first part of the process when it comes to getting the ball rolling. You need to get this right as best you can, and there are a lot of things that can play a big part in this as well. 

Have You Found the Right Premises?

Something you need to think carefully about is choosing the right premises for the company. The area is, of course, key, but you also need to make sure you are focused on choosing the perfect business premises as well. This means a lot of planning and forethought, and there are a lot of factors that will play a role in helping you with this. Choosing the right premises is one of the crucial components of starting a business, and it can really help to improve the success rates of your company. Consider everything you will need from the perfect premises, and then make sure you do your research to find the best premises options. 

Making the Move

Once you have chosen an area, it is time to actually make the move, and this is something you need to plan out properly. Hiring the right experts to help you make your move is essential, and is going to go a long way toward allowing you to get this right, and to be as efficient and effective as possible with it. You have a lot of factors to keep in mind here, and it’s clear that choosing the right commercial movers can make a massive difference when it comes to getting this sorted as much as possible.

There are plenty of considerations you need to make here, and it is so important that you do as much as you can to improve things. Make sure you are focused on getting the most out of your business relocation and trying to make the right decisions for you. There are a lot of factors you have got to keep in mind, and these should help you make the right choice. Your business relocation is essential, and you have to get it right for the good of the company. 

5 Top Tips For A Smooth Office Move

5 Top Tips For A Smooth Office Move

The idea of moving to a new office location may be a daunting one, but when your business is growing and changing, it’s a necessary activity! You want your office relocation to go smoothly, which means that you need to plan, plan, and plan some more! It’s a big job with a lot of planning involved. If you want to keep the disruption to your new office move as low as possible, you’re going to minimize your business costs and the impact on your daily activities.

When you plan well, your office move can be as easy as pie. So, let’s take a look at five top tips for a smooth office move, and we’ll keep our fingers crossed that yours goes well!

People Sitting on Chairs Beside their Desks in an office

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Step 1: Get The Team Involved

Whenever you move to a new office, you need to ensure that every single person is involved. You can set tasks by team, from who will hire the skip bin for the rubbish that you clear, to who will keep the business running while it all happens. Your employees should be given as much notice as possible before a big move. The last thing that you want is to have an office filled with people who have no idea what’s going on! Communication is vital, and it’s the one thing that you need for success.

Step 2: Bring In The Professionals

You could go down the road of packing the office yourself and moving it, but you have a business to run. You may well organize the skip hire and sort out the decluttering of the office, but that doesn’t mean that you can sort the actual packing of all the computers! So, bring in the professionals who are qualified and insured to do all of this for you!

Step 3: Start Early

So, your business plan predicts that this move is to happen in a year. That’s great; you have a target to follow. There is so much to consider with office relocation, and the sooner you get started, the better. It would be best if you started everything slowly, from notifying your staff to finding the premises and getting it lined up. The earlier you do this, the earlier you can let your clients know of the changes.

Step 4: In With The New

Ideally, it would be best if you had a floorplan of your new office layout so that you can preempt any issues with installing technology and locating desks. You can bring in a team to help you to plan where everything should go, and they’ll make a big difference to the way you conduct this move, too.

Step 5: Keep Communicating

Your business needs to be live as much as possible through the move, as any shutdown can have an impact on the way that you do things. So, keep communicating with your clients and any major shareholders. You need to have a team in place to keep business open if necessary, and this takes planning.

Streamlining Your Company’s Spending

Streamlining Your Company’s Spending

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By Brian McKay

Businesses are always looking for ways to cut the costs and battle against ever-increasing supplier prices. But it can be difficult to decide where these cost-cutting exercises should come from. You often don’t want to let staff go – particularly with small businesses, and there are some things that have to be considered necessities.

There are ways around this, though. In the modern world, there is the potential for technology to assist in creating and carving avenues to help be the most profitable business you can, it’s all about where you choose to search for such solutions.

HEADS IN THE CLOUD

Unless you’ve been actively doing your best hermit impression over the past couple of years, you’ll know that in the modern age more and more information is being stored in the cloud. While there is still payment required for this sort of service, it will save heaps of cash in the long run as you can do without dedicated servers of your own and rely on an external storage system.

Having files available to your employees for cloud access will make basic running costs simpler, and even move towards a more remote working atmosphere. The cloud can be accessed anywhere, anytime, so this will give employees the opportunity to work from home, instead of coming into the office though. However, all cloud recommendations come with the warning of ensuring that it is secure, with so much sensitive data being stored, it helps to be extra diligent when it comes to keeping that information safe.

RELOCATION, RELOCATION

Moving your data to the cloud means that you will need fewer employees at work on a daily basis. With fewer people in the office, there’s no need to have as much room as before. If possible, it will only do good things for your business balance by choosing to relocate to a smaller office.

Furthermore, finding a less expensive part of town will also assist in saving those pennies. Typically, moving further from downtown areas will allow you to free up rent costs to be focused on more essential areas. However, this sort of adaptation could turn out worse in the long run, as you run the risk of being out of sight and therefore out of mind. Consider your options carefully and don’t make any rash decisions.

OUTSOURCE, DON’T OUTSPEND

One of the quickest options for streamlining your spending is to outsource specific projects to remote companies. Almost every business has done this as a means to speed up the process and save money. Furthermore, working with specialised agencies, such as HR interim services, that can provide the perfect candidates to fill certain roles will give you peace of mind that you can trust them to deliver and step straight into whatever they are required to do.

As with everything though, outsourcing may save you money, but can sometimes have negative effects on your business due to time difference, cultural differences, and miscommunication. Search for the right outsourcing firm for you and remember to touch base as often as possible.

There are so many ways that your business can save money, from large solutions to small and simpler ones. Finding the right methods to suit your business can be the difference between prosperity and month-to-month struggles to stay afloat.

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