There are so many factors to consider in relation to the space a business occupies. People tend to look at it only from their own perspective. What it really comes down to is whether you, as a business owner/operator, view your premises as an asset or as a cost. If you look at your premises in the same way you would a member of your staff, then simply put, you get out what you put in.
To begin with, you have to make the right decisions at the time you acquire (lease or buy) space. Allow plenty of time for this analytical stage to avoid having to make compromises you may live to regret. It forms the basis for everything else you do. How big, where, what specification and more subtle things like natural light, parking and mobile signal – think of it like a ‘job spec’ for the property. What does the business need? It requires interrogation of the business plan, which is not always an easy exercise from within the business.
Then, once you have committed your business, during the period it occupies the property you may need to adapt and alter to suit the changing requirements of the business so it can make the best use of what it has; moving internal walls, for example, or even just decoration and carpets. The comparison is training a staff member to keep them fresh and relevant.
Lastly, there needs to be an exit strategy which has been ‘planned-for’ and which does not disrupt the business with unforeseen costs and upheaval. This is the same as when it is time for an employee to move to pastures new. You don’t want a big bust-up or worse, for it to go legal!
Look upon your business accommodation as you do a member of your staff and it will become an asset, adding value to the business and facilitating its growth; and not just a high cost, inflexible business overhead.