Skip to main content

How to select the right office for a start-up?

"Cash is King" for a Start-up. Yet often one of the first things entrepreneurs do is spend precious money on setting up their office. Not only does a new office require capital, which is scarce for a start-up, but there is also a monthly fixed overhead which can be a drain in the early stages. Precious Cash needs to be focused on customer acquisition, product development, and team.

Open Meeting Tables at Golden Square Koramangala
So what is the smart option for an office? Well simple, work from home, or a garage, or get a friend to offer you an office space. Figure out all possible ways to reduce costs. Nowadays it is quite easy to work from home, do meetings online and collaborate with team members. However, there are things for which you do need professional office space, like client meetings, team meetings and so on. For these, you could use meetings rooms in Business Centres.

Golden Square, for instance, provides meeting tables, meeting rooms and conference rooms to its members. Very reasonably priced. Just Rs.80 / hour for an open meeting table, Rs.250 / hour for a closed cabin, and team meetings can happen in a conference room for just Rs.600/ Hour.  The Snap Office website has more details.

Conference Room at Golden Square Koramangala
So some of our start-up clients work from home and block conference room time twice a week for their team meetings. They do all their planning and review comfortably since the conference rooms are equipped with a projector and Wifi. In this way, office overheads come down drastically.

Some businesses need a lot more co-ordination happening between team members, in which case from a productivity point of view, they do need an office. Golden Square provides team spaces which work out 50% cheaper than having one's own office, especially if the team size is around 5.

Here is an article which gives an idea of how to figure out how much different office options cost. 





Comments

Popular posts from this blog

Are You a Tech Startup Yearning To Create Societal Impact?

Hello there !!! Are you a tech startup yearning to create societal impact? If yes, then it’s time for you to be the torchbearers of a sustainable future. Lab32 is back to empowering you with the right skills and guidance required to scale your startup.  Facilitated by leading consultants, mentors & entrepreneurs, Golden Square  and T-Hub’s Lab32 is all set to enable startups to race towards their goals. This three-month-long sector agnostic program empowers ‘Minimum Viable Product (MVP) Ready’ startups to crack their product-market fit and Go-To-Market strategies. Program Benefits Business model refinement  by addressing the key features and crucial aspects of the startup’s core strategy  Failure rate reduction  by setting up milestone-based objectives & assessments    Nurtures growth mindset  to scale & expand the business  Helps startups identify crucial pitfalls , assess problems, and find solutions in their journey  Provides relevant connections  with leading industry p

Back to Office, Work from Home or Hybrid- What's Working?

What’s Next for the Workspace? Back to the office, work from home or Hybrid- What's Working? - By Balaji Pasumarthy Work From Home to Hybrid Office The Pandemic has forced all of us to take a fresh look at where we work . By default, work mostly happened in the office. Now that more than a year has passed, forcing most of us to work from home, it's time to take stock for the future and ask the question, “Which is the more effective work space?'' Dropbox, in an internal survey found that nearly 90% of the workforce are more focused at home and just as engaged as before (in the office), and do not want to go back to a rigid 5-day office workweek. At the same time, in the blog they share, “workers also say company culture suffers from no in-person interaction, risk of miscommunication is higher, and it’s harder to start new projects with multiple collaborators. There are many things people miss about the office.” Apple has always been a proponent of working from th

3 Ways in Which Co-working Enhances Productivity

Work is worship is what we’ve all grown up listening to, and by this very definition it is an exercise that is meditative, absorbing and indulgent. The purpose of work as defined by us has undergone a significant shift through the years. What began as a single-minded practical means to earn a livelihood, then became one of engagement and collaboration with fellow workers. The definition of work today isn’t just about earning for the self, but also ensuring that we are happy doing what we do. Being productive is therefore about getting the maximum done out of the few hours we put into work everyday. Different people work in different spaces and there are varying factors that affect productivity. While some work all by themselves and love their flexible timings, others work with organisations that focus on specific tasks and goals. Co-working falls midway between these two extremes. It allows professionals to go about their own tasks but also provides the opportunity to collaborat