In the past, businesses were essentially bound by real estate. Sure, they could host conference calls with international clients or hop on an airplane to visit a customer in another city, but most companies focused on local business. Today, the power of the internet means you can run a very successful business independent of location.
Enjoy These Practical Benefits
A decade ago, people would have looked at you strangely if you expressed an interest in running a remote business. Sure, it was technically possible, but it was seen as risky, at the very least. Even five years ago, the technological infrastructure wasn’t mature enough to support cost-effective remote businesses. Today, things are changing.
Just look at the healthcare industry and you’ll see the transformation that’s taking place. Telemedicine, or the ability for patients and doctors to interact via telephone or video, is more popular than ever. Nearly 75 percent of people are willing to give it a try – a number that is significantly higher than the handful of people who were comfortable with the idea of remote health care services just a few years prior.
If a field as important and hands-on as healthcare has convinced people that remote business is practical, that just goes to show how much things have changed. In your own business, a decision to go remote could yield many benefits, including the following:
- Deeper Talent Pool
Let’s say your company is based out of Atlanta, Georgia. When you have an opening, you put up a job posting and 90 percent of your applications will be from the Atlanta area. You may get a few from nearby cities like Charlotte, Birmingham, or Nashville, but your talent pool is very much regional.
Now, imagine that you’re a remote business looking for remote workers. Suddenly, you have applicants from Seattle, San Francisco, Denver, Dallas, Pittsburgh, Boston, and everywhere in between. Your talent pool gets much deeper, which means you have the chance to make a better hire.
- Happier Employees
Not only do remote positions allow you to attract better talent, but they also lead to happier and more productive employees. According to data gathered by Greg Kratz of 1 Million for Work Flexibility, separate studies have shown that teleworkers are 20 to 43 percent more productive than office colleagues. Additional research shows that stress and burnout are lower among workers who have workplace flexibility. This results in less turnover and higher long-term retention.
- Responsive Customer Support
When your business is remote, you may find that you’re able to serve customers and clients better. There are an astounding number of remote solutions – including help desk software, video conferencing, and email support – which allow for quick and nimble customer service. And because you aren’t spending massive amounts of money on expensive real estate, you’re able to reinvest that money into serving the needs of your clients.
- Real-Time Demand
Being a remote business means you’re able to move at a moment’s notice. As soon as you notice a shift in the marketplace, you can adjust accordingly. You can establish pop-up shops in different cities, or set up temporary storefronts to account for seasonality. The options are limitless.
Set Your Business Free
Real estate can be a powerful advantage or a ball and chain. Thankfully, you have options in today’s business world. With all of the new technology, as well as the changing mindset of today’s employees and business owners, you can transform your stationary business into a remote business with relative ease. It’s time to set your business free and enjoy the many benefits that come with independence.