There is no definitive way to know for sure if it is the right time to expand a business. There’s no way to know for certain because the perfect time does not really exist. It is like deciding to start a family; you can be ready to jump into the unknown, but whether you have got what it takes is the big question. It requires a leap of faith.
What you can do is plan as carefully as possible and take steps to minimise the risks. The standard assumption is to think that international expansion is about big steps. In reality, it is the measured, meticulous companies which come out on top. So, if you are keen to open up a new branch overseas, identify your needs first.
Ask yourself these five questions and determine if your company is ready to take things to the next level and become truly international.
What Do I Want to Achieve?
Generally, the compulsion to grow and expand is driven by positive thoughts and emotions. In some cases, however, business owners are trying to bolster ailing departments or give a second lease of life to a troublesome operation.
While the virtual offices at Servcorp are an excellent way to streamline and make a company more efficient, they will not eliminate existing problems. So, before you pour lots of time and money into an overseas expansion, make sure that you are doing it because you are confident it is the right move for the future of the business.
Am I Willing to Accept Help?
One of the hardest parts of expansion for most entrepreneurs is relinquishing control. When you have grown and nurtured a company from the ground up, it can be hard to share responsibility for it with somebody else, even if it means less pressure and work.
Yet, no manager – no matter how good their new base is – can run a multiple branch business alone. So, once you are confident that the expansion is running smoothly, start building a team of senior staff whom you can trust to oversee the operation when you are out of the country.
Is a Conventional Office Lease the Right Option?
The first thing to do is choose a great corporate location. It is worth keeping an open mind too because the best way to launch in a new market is not always with a traditional, long-term office lease. Virtual offices are available in many of the most prestigious spots in Manila.
They are ideal for growing a small business because they minimise overheads and ease initial setup pressures. As all of the basic (and more advanced) office resources are provided as part of one flat rate fee, it means never having to pay for unwanted services.
Am I Ready to Make New Connections?
All virtual workspaces are designed to support and encourage collaborative efforts. Many contain a mixture of private and cooperative areas, so you can choose the work environment which fits your mood and task.
While co-working can be a little daunting at first, particularly if you started out from a standard office (and didn’t spend much time working from home even), it is a wonderful way to connect and meet new people. As this can be tough in an unfamiliar market, virtual office solutions are more than an administrative tool – they are a social one too.
How to Find the Best Virtual Office in Town
If a virtual office sounds like the right option, the first step thing you need to do is pick a great location. Fortunately, there are plenty of these high quality, high-end workspaces in central Manila. Do some research and find one which ticks all the right boxes.
It should be readily available for employees, clients and associates (close to public transport links) come with lots of parking spaces, offer flexible terms, and allow you to pay only for the resources you need.