5 options you should explore for your company’s structure

There’s more than one way to structure a company today. That includes how you find the right balance between physical office space and virtual office space. Both approaches come with their own advantages and potential challenges. Before you decide that there’s only one way to set up the operation, take the time to explore the concept of virtual versus physical office and consider each of these models. One of them may be exactly what you need.

Opting for traditional office space

The default option for many business owners is to secure physical office space for the company headquarters as well as any branch offices that you decide to establish. Without a doubt this approach does work well with many types of business operations. There’s the benefit of employees seeing each other daily and interacting without the need for some type of communication tool. It’s also easy to call everyone together on the spur of the moment should the need arise.

The physical space you choose may be office suites along or come with other amenities. If you prefer to keep things simple, remember that you can always rent boardroom in Toronto if necessary.

Creating a virtual office culture

A different approach is to go with an entirely virtual office culture. This will work well when you and your employees need little other than a comfortable chair, an Internet-capable device, and a reliable Internet connection. Thanks to this type of setup, everyone can work wherever they happen to be. That means working from home, at a library, in a coffee shop, or even while enjoying the sunshine at the beach or lake.

This approach does mean relying on more communication tools to stay in touch. Email, texting, audio conferencing, and web conferencing will definitely be a significant part of how everyone stays in touch. In terms of comparing a virtual versus physical office, make sure your employees are comfortable with these resources and understand how to use them effectively.

Physical headquarters and virtual remote offices

There are also a couple of hybrid solutions that you can consider. One of them involves having a traditional office setting that serves as the company headquarters. For all remote employees, utilize virtual offices to supply them with the resources they need to get their work done. One of the benefits of this approach is that you can opt for a smaller physical headquarters and keep operational expenses to a minimum. You also have the ability to hire qualified people no matter where they happen to live.

Keep in mind that there will be times when you do want to gather everyone for a meeting at the headquarters. If your office space is too small, don’t worry. You can always arrange to rent boardroom in Toronto and maybe an extra office or two while your remote employees are in town.

Virtual headquarters paired with Physical branch offices

Another hybrid approach to consider is creating a virtual office to use as the company headquarters. This works well since you and the other officers can connect remotely and manage all the details of overseeing the operation. In the meantime, sales personnel and other employees can work out of smaller offices in key locations around the country or even around the world. They provide a local physical point of presence that allows them to entertain and meet with customers residing in their areas. In this scenario, you really don’t have to be concerned about the entire virtual versus physical office debate. You are getting the best of both worlds.

Rethinking the structure as the business grows

Whatever arrangement you settle on for the present, remember that nothing is carved in stone. As the business continues to attract more customers and revenue increases, the needs of the company will change. That means taking a second look at how you have the operation structured.

The day may come when you rely heavier on virtual offices to establish the company in new areas while creating physical national or regional offices to support those employees labouring with the use of virtual offices. Monitor the progression of the company and be aware when and if a need to change your strategy arises. And don’t forge that you can always rent boardroom in Toronto if there’s a need to gather people in one physical location for a short time.

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