We can get trapped in a sense of stagnation from time to time in our business. Maybe we're not doing as well as we think we should, or there are too many competitors in the market right now, meaning that success is very difficult to come by. As the business struggles, and you look to other options with a sense of desperation, the option that may prove to be the most lucrative is actually moving your business to another location. This is something that isn't an option you should take lightly, and in actual fact, moving your business from one location to somewhere only a few miles away could cause ructions. And so, what are the considerations we all have to bear in mind, and what are the best ways to go about it?
Why Should You Do It?
Firstly, you need to come up with the best possible reasons to actually relocate. It's one of the toughest tasks to undertake, because of, not just the money side, but the logistics as well. So, when you are weighing up the pros and cons, the overriding concerns relate to three things, your customers, your clients, and your employees. Relocating your business could prove to be lucrative in relation to your customers, because you may want to reach a new target market. If you are running a business in the customer service industry, you have a solid relationship with them already, and you think its time to branch out, then a new location is a great way to expand your empire. For example, if your state government decides to build a college campus in another city, you have a new target market to acquire. On the other hand, you might want to be closer to your clients. If your typical working day consists of you doing your best to reach out to clients that are on the other side of the world, or in another state, and you are constantly on the phone, relaying emails back and forth, or they are always on the road themselves, getting a proximity to your clients that is far closer than before, will result in higher satisfaction, not just from the clients, but from you. This can have a positive impact in your working life, as well as your work-life balance.
When Should You Move?
Being the logistical undertaking that it is, choosing the right time can be a challenge. The timing has to be perfect, not just so you hit the ground running, but the administrative procedures need to align perfectly with the logistics. The paperwork is one of the most difficult things to get right, especially if you are moving from one state to another, because the laws and regulations in the other states may be completely different. Generally, you can apply certain principles wherever you go, but there are so many unique rules and regulations that you may not have considered. And while it's unfair for you to take on this challenge yourself, when you are applying for a business or professional license in another state, the best approach would be to approach an appropriate legal professional to do this for you. After all, you still need to run the business at the same time. Hitting the ground running in this respect is one of the most difficult aspects, especially as far as logistics are concerned, and you have to ensure that the company slots in easily in the new location.
How Should You Do It?
Undertaking a successful move is about planning it properly. There are so many different categories when it comes to an effective move, not just the transportation of the equipment, but the continuity when it comes to the customers and how you communicate with them. In this respect, keeping your content up-to-date, especially if you anticipate downtime while making this move, keeps your customers abreast of these changes. If you are moving from one location to another, correspondence is one of those tricky issues that can get lost in the ether, and one of the best ways to do this is to ensure that there is an overlap between the two locations. Having an employee stationed in the old location, physically as well as online, will help to make for a smoother transition as the service you are providing will be continuous.
What Are the Most Pressing Concerns?
When you are undertaking a big move, especially with employees, you need to consider the impact it's going to have on them. In this case, delivering the news can be one of the things to think about with regards to how you move effectively. The fact of the matter is, every employee, whether new or long-standing, is going to have some difficulty coming to terms with the news. If you are making a big move to another state, and you have employees that do good work, and you realize how much of an asset they are to the business, you need to start thinking in a more modern manner with regards to how you can keep them. If you're expanding your business, it's not a problem, but if you are uprooting your physical location, this is where it gets tricky. Remote working is one of those things that is becoming more and more popular, and this can provide a very easy solution. On the other hand, remote working poses many different challenges for the employee, as well as the employer. When in your new business location, can you guarantee that the relationship you have with your remote working employees is going to be as effective as when they were in the office? If not, then it's only a matter of time that they will begin to look elsewhere…
And as far as moving your business is concerned, one of the biggest anxieties is if the results aren't what you expect them to be. One of the many reasons that can arise is rushing the decision. There are numerous aspects that you can solidify in the planning stage to make for a smooth transition in this respect. Apart from rushing the decision, ignoring the quality of life, not taking advantage of economic development services in the area, as well as the environmental regulations, can all add up to a bad quality move. In essence, the moral is that you shouldn't rush it. Amazingly, a lot of businesses fail to prepare for expansion. But the overriding thought behind these mistakes is a bigger concern with finances than the actual business itself. It's a very complex situation to solve, and when you throw into the mix the cultural sticking points, even if you are moving to a location that's not far away in the grand scheme of things, there is still a way of life that may cause consternation, not just for you, but your employees too.
If you have a core group of employees that are moving with you, it's important to prepare them for the changes they are going to face. The fact of the matter is, they are uprooting their life for your business, and this extreme shake-up is going to affect them on a personal level as well as a professional one. But, you are all in it together, you can face the challenges as an effective team, and this is something that you need to have at the forefront of your mind at all times...
The productivity is going to be affected, no matter how best you prepare for business interruption. You have to consider the overall costs of this lack of productivity, and in addition to this, you may lose some customers. Loyal customers could jump ship if you move to a new location, and so, it's best for you to prepare for this. The best solution is to have done your homework to best prepare for the losses during the move. It's normal to lose a few days, but it is better for you to brace yourself for a few weeks of downtime.
As far as moving a business is concerned, we feel that it's for the best, but it's important to remember that if it's possible, can you expand your business in your current location? If so, this will be a better option financially, and it won't shake up the business as much. But, conversely, moving to a new location can be seen as wiping the slate clean. And if you are looking for a new beginning and you feel in your heart of hearts that a new start will be the best thing, not just for the business, but for yourself, then you have to trust your gut. It can be very easy to not consider ourselves in this process. But when you are factoring in the budget, the entrepreneur needs to be as important as the employees, the clients, and the customers. And while moving your business is one of the most painstaking tasks anybody can undertake, there will always be a light at the end of the tunnel. When you are in the eye of the storm, there may be a few regrets, but you will reap the benefits in the end.
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