Traditionally, an executive suite was a collection of offices used mainly by your company’s top-level executives. Here, they could work in the comfort of their own offices while having access to collaborative meeting spaces, and all offices were in close proximity to each other. In today's market, this is much like having your own wing within a coworking environment.
For many business owners, making the jump from a single private office to a collection of multiple offices inside a shared workspace isn’t a decision to make lightly. It’s not just a question of “Can we afford this?”, but rather a business-driven decision that forces you to think forwardly and retrospectively. “What have we done to get to this point, and once we move into a larger workspace, what must we do to maintain this momentum?”
Here are four signs you might be ready to make the leap:
One of the biggest advantages of leveraging an executive suite is the ability to position yourself in a prime location without a long-term commitment or major upfront investment. Even the name “executive suite” exudes a level of success and professionalism that adds substance to your business.
Choosing an executive office space within a coworking community allows you to get the privacy and professionalism of your own office suite at a fixed cost. You may call it home for years, or you may decide to move after a year. Either way, you have the flexibility to choose what makes sense.
When your business is ready to grow and scale, having flexibility can make the entire process faster and easier. You may start with a single office, then add more workspaces as you add more executives and employees. In a traditional office setting, this move often entails making extensive renovations, moving to a bigger space, or buying a space that’s bigger than you need and hoping you grow into it.
Coworking spaces offer a more attractive alternative that’s primed for growth. You never need to commit to more space than you really need, and you can add additional space on short notice without incurring major upfront costs.
From conference rooms and meeting tables to whiteboards and large displays, executives need a lot of equipment to do business. For many startups, it’s not financially feasible to invest in these tools on your own, which is why many companies seek executive suites that are already outfitted with these and other amenities.
Having access to conference call-quality phones, portable display boards, projectors and screens, and video conferencing tools at a moment’s notice can help you take care of business when opportunities arise and allow you to remain competitive in your market.
If you’ve noticed any of the above four signs in your business, you may be ready for an executive suite sooner than later. Find the Office Evolution location nearest you and explore private executive suite options that can help your business grow without restriction.