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October 05, 2020

5 Tips For Downsizing Your Business

The COVID-19 pandemic has had a major impact on business operations worldwide. Business leaders across several industries have experimented with remote work and other ways to keep employees safe while continuing business operations.

As businesses begin to reopen, many business leaders will find that they need to reimagine the role their physical offices play in the success of their companies. Downsizing is one beneficial course of action that could help to keep employees safe and healthy and keep businesses on their feet as the economy recovers.

But how exactly can a business successfully downsize during the COVID-19 pandemic? Here are five tips you can use to successfully downsize your company.

  1. Minimize your business location to a virtual office space. If your business is currently operating 100% remotely, you could save yourself a lot of money by continuing to do so. Approximately 60% of surveyed remote workers said that, if they could, they would leave their current job for a full-time remote position at the same pay rate. A virtual office space gives you the ability to work remotely while providing a professional mailing address, live receptionist services, business license hanging, and meeting room access at a fraction of the cost of renting an entire office building. What’s more, you don’t have to worry about how you’ll keep your employees safely distanced from one another in the office.
  2. Use electronic storage to your advantage. You could be using more office space than you need if you’re using rooms, basements, and hallways to store files and other data. Electronic storage makes it easy for you to keep only the physical documents you need while transferring the rest to the cloud.
  3. Cut services that have been eating into your revenue. The COVID-19 pandemic has given many business leaders an eye-opening experience about which of their services are necessary and which are disposable. If some of your products or services haven’t been doing as well as others, it may be a good idea to cut those products and services out of your business offerings.
  4. Minimize your office furniture. Consider the furniture that you have in your office space. If you have big, clumsy conference room tables that eat up space or large filing cabinets you’re not utilizing, consider donating your old furniture to invest in smaller alternatives. Optimizing your furniture and taking advantage of vertical space can allow you to downsize your office without any major changes.
  5. Rent an executive suite. If you need some office space to keep your business running, but not over 2,000 square feet, you can reduce safety risks and unnecessary expenses by taking advantage of ViewPointe Center’s executive office suites. ViewPointe’s executive offices give you a professional environment in the heart of Las Vegas while providing you with the amenities you need to keep your business operating. You can minimize the safety risks of going back to work by keeping your number of in-person employees to a minimum and allowing other employees to work remotely.

Interested in a virtual office space or executive office suite to minimize your business risks during the COVID-19 pandemic? Contact ViewPointe Center to learn more about our virtual office rentals and business suites for rent today.