Usually, I would suggest not even getting your own office when you are a startup. With today’s innovative environment where a lot of things have turned digital and a lot of startups coming up with ideas that target today’s problems, you have the luxury to spend peanuts on space as compared to getting a proper office.
But, if somehow you have decided that an office will be more beneficial to you and so you have decided to rent one, then you shouldn’t be spending all you have on the aesthetics and luxury of the space.
When starting out, many young entrepreneurs go a little overboard in trying to look like they know what they are doing. This also comes from the fact that everyone is trying to stand out and make a mark. One of the ways that people think they can stand out is by offering more for less or by putting up a front.
Many young people get lost in an attempt to seem successful. In doing so, they forget to put their energy into actually getting successful. Even if you think you have the funds now to get all the latest decor and technology for your office, you shouldn’t spend all. You should refrain from spending much because, in a business that is in its infancy, you never know what emergency comes up that will require you to have funds.
You have to save a lot of money at the very beginning of your business by opting to get just the essentials. You will have to rent your HQ office instead of purchasing it, and that is fine. You can have your name on the paper when you can actually afford to. Once your company has accumulated sufficient capital you can afford to splurge on big purchases.
Furniture and Electronics
Don’t over furnish the space. Don’t try to make it more comfortable by adding plush, expensive sofas in the waiting area. Don’t get the state of the art conference room table. Don’t get the most expensive and latest furniture. Go for locally sourced or get them made if you want wood. Only get as many office supplies as you currently have workers. You can always buy more as your company grows.
For electronics too, you don’t need to spend a fortune on the latest Apple computers. You can get something great in your budget as well. Do not try to make your dream reflect now so that you grow into it. It is never the way to go.
Definitely don’t overspend on interior designs. This is where many people go down the rabbit hole. You don’t need the latest designs on your wall, you don’t need the fancy seat flow, and you definitely don’t need the non-functional design elements.
You don’t have to focus on the different perks that you can offer to make your office the hippest space like the game room. All of this can be included later when you have the luxury to afford it.
If you are renting out space or have a space that you are going to use as an office, focus on getting only the essentials. You need to save money at the start so that even if you experience a slow month or two, you will feel safe. And as a reward for working with the bare minimum, you can always purchase more items both for your office and for employees when you are up and running.