The past year has forced us all to learn about remote work and whether it is feasible for our businesses. Many businesses have learned the advantages of running a lean company without the need for a lot of office overhead. It can improve a lot of facets of your business and cause you to systematize things that have been on the back burner for too long. But there are also plenty of advantages to having an office, including the interactions that naturally happen among employees in the office. No matter which path your business chooses, the pandemic has taught us many ways to increase our productivity and grow our business in ways we hadn't previously thought of.

Working Without an Office

Many companies have found that productivity has actually increased since they shifted to remote work. Even though they aren't in the same room, employees are still able to brainstorm and work on projects. Some factors that may the decision to be remote,

  • Experience level of the team
  • What kind of product does the business produce?
  • Where is the founder based?
  • How far along in the process if the company.

Of course, another important factor is that remote-work is often much cheaper when it comes to overhead. Instead of spending money on office rent, the company can deploy those funds to support their workers and create a stronger office culture. When it comes to onboarding new employees, doing it remotely may also be a benefit because it will cause you to create a program and a process that is more detailed than just "Follow Sharon around for a couple of weeks and you'll get a feel for the office."

Maybe You Do Need an Office?

Although many people feel they are destined to dispose of their office, there are plenty of challenges to working without any office. For example, if you don't spend enough time with your colleagues, you may never really have the kind of interpersonal relationships that an office would provide. Sure, you've seen each other's homes from Zoom calls, but how well do you really know your co-workers? Those little interactions in the office really do matter in the long run and shouldn't be disregarded entirely.

What Does the Future Hold?

It's still too early to tell, but it seems likely that more businesses in the future are going to be built around a remote work model. One option to create a hybrid model for the office is to use co-working spaces as a place to meet when the team needs to be in-person with each other. But with the advent of more remote work, these businesses will be able to attract more top-notch talent. You'll no longer need to only recruit talent locally - with remote work, you can cast a world-wide net to get the best talent for your business.

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Next Steps

If 2021 is the year that you're going to get that business off the ground, or if you've already launched and need to make sure you're ready to take the next steps, let's set up a Legal Strategy Session to make sure you've got the best options in front of you.

Andrew Ayers
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I work with business and estate planning clients to craft legal solutions to protect their legacies.
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