If you’re lucky enough to find business success and grow quickly, there are some important decisions to make. One of the biggest is how you’ll handle the need to expand. There are lots of different options and, of course, you don’t have to expand at all, but it is your route to more money, longevity, and product popularity. So, you’ve got to do it right.
Some businesses prefer to grow directly outwards. They wait until they’re practically bursting out of their current office and then find a larger one, with more resources. Others take a more flexible perspective and open up small branches in major cities. This is the more modern way to do things because it gives businesses the chance to conquer multiple markets.
If you’re thinking about opening up a new location in sunny Malaysia, keep reading for some tips on how to minimise the expense.
Consider a Virtual Office
One of the best ways to build up a presence in a new market (particularly Southeast Asia) is the virtual office. In other words, don’t open up an entirely independent branch unless you feel like there’s no other option. These days, it is more than possible to run a regional operation from a communal ‘drop in’ workspace. Whether you’re in town every week or twice per year, use these fully equipped suites to monitor progress. Visit www.servcorp.com.my/en/virtual-offices/ for more details.
Consolidate Your Overheads
The other big advantage of working from a virtual office is the fact that all of the overheads are consolidated into one monthly (sometimes weekly) fee. This solves any concerns about sparsely spread expenses because you’re not managing twenty different accounts, across seven separate branches. Heating, lighting, cleaning and tech maintenance are all taken care of, as part of the fee, by an onsite team.
Entertain Clients in Style
Whether you open up an independent branch or operate out of a co-working space, you’ll likely need somewhere to entertain clients and investors. Virtual offices are helpful here too because you can hire meeting rooms for private use. The virtual facilities based in Kuala Lumpur contain impeccably designed boardrooms and meeting spaces, which can be booked and used by tenants. Normally, there is a fixed fee, because the provider wants tenants to pay for the service only when they need it and not as a permanent charge.
Embrace Remote Workers
The value of remote work is just starting to be understood by modern businesses. Traditionally, it was believed that people can only get stuff done if they’re forced into an office and conditioned to watch the clock. Thankfully, we now know that this isn’t true and that everybody thrives in different environments. If you want to get the most out of your expansion team, consider giving them a little more control. Studies show that working from home leads to fewer distractions so employees tend to perform better.
Create Strong Links
It is really important that all of your branches feel like part of a broader, cohesive family. This can be tricky if they are spread out across a continent. For example, if you have an office in Malaysia, Thailand, and Singapore, you’ve got to find a way to keep them connected. Make use of collaborative streaming and sharing tools to get employees from different branches working together, even if they’re not in the same location. Look for specialists and experts within your own companies and link them together, rather than constantly hiring new ones.
Why Virtual Office Solutions Are the Ideal Solution
The thing to remember about virtual offices is that they’re designed to provide flexibility, first and foremost. This is precisely what a business needs when opening up a new branch in Malaysia or anywhere else; the freedom to make quick decisions. So, if you launch in a city like Kuala Lumpur and it doesn’t go as well as expected, you’re not tied into any lengthy leases.