The Hidden Cost of Working from Home
"Anything's expensive when compared to working from home."I've had this thrown out at least a couple of times when showing folks around our space and as much as I'd like to sugar coat it, that thinking is just plain wrong. Working from home might work for a remote employee in a larger company, but for a small business, it's MORE expensive and MORE harmful, and here's why.Although on the face of it, spending money is always more expensive than not, in business spending money is the ONLY way we grow.
- We spend money to become a legal entity, which helps us become real to our clients.
- We spend money developing our website / branding etc. because we know we can't succeed today without it.
- We spend money on advertising because it lets people know we exist who might want to do business with us.
- Each of these examples demonstrates that to succeed and grow in business, some money has to be spent, albeit wisely.
As proven in the research I posted a few days ago, by simply moving into a well run and well laid out coworking space, 7 out of 10 businesses will improve. What's more, the same number will feel more successful also, which improves morale even more.In real world statistics, this means that in a typical WorkLodge for example, hundreds of people will see their businesses grow and improve professionally, simply by being there and becoming a part of our community! I can't tell you how exciting that is to think about as an entrepreneur myself. THAT is success for me on any level.Even the more emotional statistics (8 out of 10 people are less lonely and feel like their sanity is maintained simply by being around other people and 9 out of 10 people feel happier) cannot be ignored. I don't know about you, but not being lonely, staying sane and feeling happier are all things that have meaning to me. If a movie ticket makes me happier for maybe 2 hours (and costs around $10) then 8 hours of happiness for around $30 (the price of one of our private offices) is a bargain! If I'm happier, I'm more productive. If I'm un-lonely, I'm happier and therefore more productive. These things are so interconnected it's incredible.With day pass options, coworking memberships and private office suites that range from only a few dollars per day, the barrier to entry is so low that anyone serious about growing their business NEEDS to perform some serious cost analysis on their expenses and what that growth could mean if they got it.The idea that for just over $1/hr you could work from a private office, complete with meeting and conference room space as well as flexible, collaborative options AND be part of a professional, business community that will have a dramatic and positive impact on you personally, emotionally and professionally is amazing.That any work space could have this much of a meaningful impact on the profitability of your business would have been crazy only 10-15 years ago.The question isn't whether you can afford to work from somewhere like WorkLodge (and there's many great coworking spaces around the country like us), but rather How can you afford not to?
