Succeeding as a business-to-business (B2B) entrepreneur means appealing to other people in the commercial world and convincing them that you have a product or service that meets their needs and addresses their pain points. And, no matter the size or age of your organization, there’s a good chance you’re continually concerned with keeping costs as low as possible and operating in ways that are financially sustainable. One of the ways you can do that is by allowing all or some of your employees to work remotely.
You Can Have a Smaller Physical Footprint
It’s usually a positive thing to have a growing business. But, like almost anything else, there are downsides associated with that situation. For example, as your team gets bigger, you may need to look for a larger office space. A progressively expanding workforce also needs related things, such as meeting rooms and kitchens. But, if you let people work remotely, they can set up in any place that keeps them productive.
The remote work revolution is happening now, and many individuals use coworking spaces or coffee shops to get work done in the locations that best match their needs. You may still want to have a physical office for your B2B business, and that’s okay. The main thing to keep in mind is that embracing the idea of hiring a mostly or all-remote team allows you to get established in a much smaller and cheaper space than you’d otherwise need.
Offering Remote Work Opens Hiring Opportunities
Sometimes, no matter how hard you try, it seems nearly impossible to fill all your open positions solely by relying on the local or even state-wide job candidate pool. The great thing about permitting employees to work remotely is that they could live anywhere in the world. Think about a scenario where you offer a B2B tech solution that uses artificial intelligence. Your nearby labor pool might not have a candidate, but the world’s market surely does.
Many people forget that the hiring process can be extremely expensive, even when it eventually produces profitable results. If your hiring plans aren’t happening as fast as you’d hoped, the solution may be to broaden your scope and allow workers to fill positions without coming into your office.
Also, perhaps you’re a cash-strapped startup and can’t afford to offer salaries that are as high as what some competitors could give the applicants. Many people see remote work as a job perk, which means they may be willing to earn less and enjoy the better work-life balance that they’d have due to being able to get work done from anywhere.
Some workplaces provide things like public transportation passes to their employees as part of a benefits package, too. Maybe yours is one of them. If so, think about how you could save money and attract applicants by agreeing to let people work from home. You can stop purchasing things that help them travel to work and tell them they can stay in their abodes instead.
Spend Less on Furniture and Equipment
It’s common for workplaces to invest in things like computers, copiers, and desks. When you have a remote workforce, all the members usually depend on their own resources to get those things. They’ll either use the provisions they own, or they’ll go to places that have desk spaces and office equipment to rent and use for a monthly rate.
You may want your remote employees to have certain accessories. For example, if the people who work on your sales team spend most of their time on the clock making calls to clients, you might purchase high-quality headsets that let them clearly hear the person on the line and minimize background noises. Or, you may want to invest in smartphones that have all the requirements your workers need to complete tasks from whenever they are in the world.
If you decide to purchase some items for a remote workforce, business loans with fast approval could help you keep your employees well-equipped. It’s possible to get a loan with very little paperwork as long as you’ve been in business for at least six months and have minimum sales of $10,000 a month.
Try to see the link between highly functional equipment and your future financial success. You’ll save money on equipment for your remote team in almost every case because workers supply most of the necessary stuff themselves. But, you may determine it’s worthwhile to buy some things for your remote workers, at least for consistency’s sake.
You don’t want a B2B client recognizing that your employee is working from home, but faulty equipment could make a working situation more obvious. Think about taking a poll to find out what would help workers accomplish things better. Then, ponder whether you might cover all or some of the cost for a remote team.
Remote working doesn’t suit every company. But, if you’re trying to save money at your B2B enterprise, it could help achieve that goal. Before diving in and giving a nod of approval to remote work, be sure to weigh the pros and cons, plus remember you may need to tackle some associated obstacles, especially in the early stages.