When you’re first starting out as an entrepreneur, it can be difficult to find just the right amount of space you need for your business.
Just like everybody needs a shelter, every startup needs an office, though the exact definition of an “office” is rapidly changing. It used to mean having a spacious interior that could accommodate several workers, but the dawn of telecommuting as a viable medium of employment and the low labor demands of startup tech companies means that startups need less space than they used to.
Even so, it’s a good idea to have some sort of space where you and your team can meet, if necessary, and meet with potential investors and clients. You don’t need to have the perfect space to get started up; all you need is something that meets your current needs well enough to allow you to scale in the future.
If you’re looking to get started, consider these ideas on how to get some space, without spending a fortune:
1. Incubators and Accelerators. Depending on the goals of your company and how much control you want to retain, an incubator or accelerator could be the perfect place to start things up. You’ll have access to a plethora of resources, communications with fellow entrepreneurs, and you might not have to pay for any of it. See what options are available in your city.
2. Cohabitation. Look for a mid- to large-sized business that occupies a large space but doesn’t need or use it all. You can negotiate an aggressively priced lease to sublet a portion of their space for your own use. It might cause some growing pains if you expand quickly, but it will save you a ton of money.
3. Apartment or Garage. There’s no rule that says you can’t use a residential space for your company. Use your garage, or get a small apartment in the city that you can work out of.
As an early stage startup, your budget is tight, but with these options you won’t have to worry about going over budget on office space. In time, you’ll get a feel for what your company needs, but for now, you’re fine with the basics.
