Published on: 17 May 2016
Last Updated on: 04 September 2024
There are a number of different office spaces to choose from these days, each offering different amenities that appeal to different industries and businesses and their specific wants and needs. But how do you know what office space or business centre would be right for you and your business? We are here to help!
In this article we are going to look at three different office space options, what size businesses they are most likely appeal to, and what they have to offer the businesses that could potentially occupy them:
Traditional Office Space
The traditional office space is the perfect option for larger and more established businesses who have the adequate cash flow available in order to pay for the large overhead expenses that usually come with these kinds of pricy spaces. Some of those overhead expenses would include insurance, rent, telephone bills, and utilities, to name a few. Perfect for larger teams who need the space, traditional office spaces provide businesses with the resources they may need to hold meetings, conferences, and creative planning sessions where employees need to come together to plan or discuss business, as well as a staff room, kitchen, and other luxuries. A traditional office space, because of its costly overhead, it is not the ideal option for small businesses or start-ups.
A shared workspace usually comes about when a business who is set up in too large a space, rents out a portion of it to another company or business who is not in the same field as they are or a direct competitor. By renting out a portion of the large office space it helps to lower the amount of money the original business is paying for its rent and utilities, all while being able to keep the space they want and avoid moving. This type of working space is ideal for companies who are looking to save a little extra cash on rent and utilities and don’t mind sharing a working space with another company.
A co-working space is ideal for small businesses or start-ups that only have one or two employees working for them and do not have the cash flow to invest in their own permanent space and all of the necessary equipment that they would need (for example desks and chairs). Co-working spaces come fully kitted out with internet, furniture, printing services, and more, and some even include the likes of conference rooms that can be booked on a daily basis and utilized by everyone.
Home-Based Office Space
An advantageous option for both new businesses and small businesses alike, home-based office spaces have become increasingly popular over the last couple of years – and quite rightly so. With the prices of private office spaces soaring and the need for a more cost-effective option, home-based office spaces have become the choice for many small or start-up businesses who are looking to save on costs for both rental and utilities. However, there are a few downsides to working from a home-based office space, including that there is nowhere to meet with clients, and maybe some employees would not feel comfortable working from your home. However, there is always the option of meeting clients at a restaurant or coffee shop, and taking the time and effort to find the perfect employees who understand the vision you have for your business. These negative points can be worked around in order to get a start-up or small business off the ground and on to bigger and better things.
By following the guidelines mentioned above you should find the ideal office space for you and your business, ensuring that you make the right decision and get value for your money.
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Are you struggling to keep pace with the ever-evolving demands of your Agile projects? In today's fast-paced development environment, scaling your team efficiently is not just an option; it's a necessity. Therefore, you must use staff augmentation, a strategic solution that can rapidly accelerate your Agile project delivery.
Discover how integrating skilled professionals into your team can bring unparalleled flexibility and expertise, significantly boosting your project's efficiency.
We'll explore the tangible benefits, practical strategies, and insightful best practices to help you effectively scale your Agile team through staff augmentation.
Get ready to transform the way you manage your projects and achieve remarkable results.
Understanding Staff Augmentation: A Quick Primer
Staff augmentation is a flexible strategy for outsourcing the right talent for the right job. This strategy is followed by big firms globally for managing augmented teams.
Unlike conventional hiring, which often involves a lengthy recruitment process and long-term commitments, staff augmentation offers a nimble approach to scaling teams.
This strategy is particularly beneficial for businesses needing specialized skills for short-term projects or to fill temporary skill gaps.
Here’s a breakdown of how staff augmentation differs from traditional hiring:
Time Efficiency: Staff augmentation services enable quick onboarding of skilled professionals, reducing the time-to-hire significantly compared to the traditional recruitment process.
Cost-Effectiveness: It eliminates many overhead costs associated with full-time employees, such as benefits, office space, and long-term contracts.
Flexibility and Scalability: Companies can scale their teams up or down based on project requirements without the long-term commitment of a full-time hire.
Types Of Staff Augmentation
There are three main types of staff augmentation, which are:
Short-term: Typically used for specific projects with tight deadlines or to cover temporary absences.
Long-term: Ideal for extended projects where ongoing support is required.
Specialized: Focuses on providing experts in niche areas or new technologies that are not present in-house.
Understanding these distinctions and the types of staff augmentation available helps businesses make informed decisions about how to effectively scale their teams and meet project demands.
This approach is increasingly popular in Agile environments, where adaptability and speed are key.
The Role Of Staff Augmentation In Agile Project Management
Integrating augmented staff into Agile teams can significantly enhance project management efficiency.
In Agile environments, where adaptability and rapid iteration are paramount, augmented staff provides the necessary skills and manpower to meet fluctuating project demands.
Impact on Agile Processes and Workflows:
Enhanced Skill Set: Augmented staff bring specialized skills that might be lacking in the current team, facilitating more diverse and innovative approaches to problem-solving.
Increased Flexibility: They allow Agile teams to quickly adapt to changing project requirements, ensuring that deadlines are met without compromising on quality.
Improved Productivity: With more hands on deck, teams can manage larger workloads more efficiently, accelerating project timelines.
A practical example of successful integration can be seen in a tech startup that leveraged professional IT staff augmentation to speed up the development of a new software product.
Facing a tight deadline, the startup augmented its existing team with skilled developers who specialized in the required technology stack.
This integration allowed the team to maintain Agile methodologies, like daily stand-ups and sprint planning, while effectively managing the increased workload.
As a result, the product was developed and launched within the desired timeframe, demonstrating the effectiveness of staff augmentation in Agile project management.
The key to success in such integration lies in ensuring that the augmented staff are not only skilled but also align with the company's Agile culture and practices.
This alignment ensures seamless collaboration and optimal results.
Benefits Of Staff Augmentation For Agile Teams
Staff augmentation offers a myriad of benefits to Agile teams, enabling them to tackle projects more effectively and efficiently. Here are some of the key advantages:
1. Access To Specialized Skills And Expertise
Staff augmentation allows Agile teams to bring in professionals with specific skill sets that may be lacking internally.
This is especially valuable for projects requiring niche expertise or for navigating emerging technologies.
2. Flexibility And Scalability
Agile projects often fluctuate in scope and scale, necessitating a flexible workforce.
Staff augmentation provides the ability to scale the team size up or down based on the current needs of the project, ensuring that resources are optimally utilized.
3. Cost-Effectiveness And Efficiency
By augmenting staff, companies can avoid the long-term costs associated with permanent hires, such as benefits, training, and other overheads.
This approach is also efficient in reducing recruitment time, enabling teams to focus more on project delivery rather than on lengthy hiring processes.
4. Enhanced Productivity
With additional skilled resources, Agile teams can manage workloads more effectively, leading to increased productivity.
This also allows for faster turnaround times on projects, as tasks can be distributed more evenly and handled more competently.
5. Focus On Core Business
Augmentation frees up internal resources, allowing teams to focus on core business activities.
This is particularly beneficial for smaller teams or startups, where internal resources are often stretched thin.
Overcoming Common Challenges In Staff Augmentation
While staff augmentation offers significant benefits to Agile teams, it also comes with its own set of challenges.
Addressing these effectively is key to leveraging the full potential of this strategy.
1. Addressing Skill Gaps And Training Needs
One of the primary challenges is ensuring that augmented staff possess the right skill sets and are up to date with the latest technologies.
Regular training and professional development opportunities are essential to bridge any skill gaps.
2. Navigating Administrative And Legal Considerations
Augmenting staff often involves dealing with contracts, legal compliance, and administrative tasks, especially when hiring internationally.
It's important to have a clear understanding of these aspects or work with a partner who can manage them.
3. Ensuring Quality And Performance
Maintaining the quality of work and ensuring the performance of augmented staff can be challenging.
Setting up key performance indicators (KPIs), regular performance reviews, and continuous feedback mechanisms can help in monitoring and maintaining work standards.
4. Cultural And Communication Barriers
Augmented teams might face challenges due to cultural differences and communication barriers, especially in a remote working environment.
Encouraging open communication, cultural sensitivity training, and team-building activities can mitigate these issues.
5. Integration With Existing Teams
Ensuring seamless integration of augmented staff with existing teams is critical.
This requires clear communication of roles, responsibilities, and project goals, along with fostering a collaborative team culture.
The Best Staff Augmentation Practices In 2024
If you want to make the most of staff augmentation for agile project management, here are some necessary practices that you must inculcate:
1. Maintaining Clear Communication
If you wish to have a strong team that gets theory work done on time with zero errors, having clear and open communication channels is a necessity.
Having proper communication between all the members of the team is necessary for development. This is because it facilitates everyone in the team to work together and solve any issues that may crop up.
Moreover, open communication improves team bonding, which is crucial for all team members to understand their strengths and weaknesses. This helps the team leaders to make better decisions regarding the allocation of work according to everyone's strengths and expertise.
Therefore, use team communication tools like Slack, Asana, Trello, Skype, and Microsoft Teams.
2. Clearly Define Job Roles
To get the most out of staff augmentation, you must define everyone’s job roles. If all members of your team know what they must do - and what they shouldn’t do - to get the job done, it prevents chaos and conflicts between your team members.
Moreover, having clear job roles will make everyone's daily tasks clear. In addition, having a job role comes with various expectations. Therefore, it will help team leaders better measure the performance and efficacy of team members.
3. Learn How To Use Project Management Tools
If you want to lead a project from initiation to its completion, you and your staff must use the best project management tools in 2024.
Project management tools provide better documentation and storage of all work done by your team. Moreover, this helps in staff augmentation since many outsourced employees might be from other countries. Therefore, giving them limited access to to your sheets will help you better track and manage their work.
The best project management tools in 2024 are Trello, Jira, and Microsoft Office 365.
4. Encourage Documentation-Driven Development
How do you know that an outsourced staff member has done their work? No word of mouth will be tolerated here. The only permissible proof is proper documentation of your work.
Therefore, team leaders and managers should encourage a work culture where all staff members (especially augmented staff members) must have proper and updated documentation of their daily work.
This will help you keep track of everyone’s work and help you asses future actions and strategies.
Conclusion: Scale Your Agile Team with Staff Augmentation
In conclusion, staff augmentation emerges as a powerful strategy for scaling Agile teams, addressing skill gaps, and enhancing project delivery efficiency.
This approach provides a pragmatic solution to the dynamic challenges of modern project management, offering flexibility, specialized expertise, and cost-effectiveness.
To recap the key benefits:
Access to a global talent pool for specialized skills.
Scalability to meet fluctuating project demands.
Cost savings compared to traditional hiring.
Increased productivity and efficiency.
However, it's important to approach staff augmentation with a strategic mindset.
Choosing the right partner, ensuring cultural and process alignment, and effectively managing augmented staff are crucial steps towards success.
Additionally, overcoming challenges like administrative hurdles, quality assurance, and team integration is essential for a seamless experience.
Moreover, following the best staff augmentation practices will help you manage and track everyone’s work. In addition, it also facilitates clearer communication with outsourced staff members as well.
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Commencing a business of your own is a dream for many in such a high-paced environment where competition is always on the rise.
However, it is not as overwhelming as it sounds. With the right set of knowledge and planning, one can easily learn how to start your own small business.
While you get started on the journey, there are certain things that you need to keep in mind. This article will walk you through the 5 important steps that help you build a brand right from scratch. So, make sure you scroll till the end and discover the unknown business tips.
5 Steps To Follow When Starting A Small Business
Before actually starting to build a business, you have to get a detailed analysis of the market, your competitors, and the things that have been trending in this particular niche. If you conduct a thorough study on this, there’s absolutely nothing that can stop you from becoming an entrepreneur.
1. Research All of Your Variables
This might seem obvious, but it's really not. Most people understand they need to research how to deliver the services or goods they intend to provide and how to advertise to the right customer base. It goes further, though.
The kind of industry you would do best in and the business model that best suits your area and target marketplace are also variables to consider. You might know what you can do, generally, from your skill set, but you need to get specific about what your area needs and where it is underserved if you want to count on bringing in customers quickly.
Look at the cost of setting up a company, leasing compared to buying operational space, costs for local advertising, and recommendations for staffing while you are at it. The more knowledge you have going in, the better your chances of success once you get things going. Running a company is all about building consistent processes for regular tasks, and you need research to understand which processes will be productive, too.
2. Assess Your Financial Reach
Within any industry, there are players that work as individual professionals or owner-operators, and there are large corporations providing service at volume. Frequently, the latter are the biggest customers for the former. The scope of your company at startup is defined by the resources you can bring to bear.
Understanding how much financing you can get with your available assets and capital will help you understand how to set up your company for day-one operation by putting realistic limits on things like equipment, utilities, payroll and the number of employees you can start with. You can make the most of this reach by getting the best small business loan rates you are qualified for, and that takes even more research to discover.
3. Choose a Business Model
Once you understand what you can do with your skills, what size company you can afford to start, and where the demand is, the next step is to pick a model of operation. The model is different from the business. For example, you might want to start a restaurant. What kind? Fine dining, carryout, and mobile food service, all have different operations with different processes needed to be successful. Matching your model to your ability to reach customers and meet their needs is just as important as finding raw demand for a product or service.
With a variety of options available, it might be a little confusing for you. So sit back, relax, and think about what kind of business will yield you the desired result.
4. Write a Killer Business Plan
Writing your business plan is pretty much the last step in the preparation phase before you actually start launching the company. It serves as a roadmap to your goals as well as an important document for lenders to consider when you apply for financing.
A well-written plan should spell out enough about your operation to let your key personnel make autonomous decisions in their spheres of influence. That means your managers should not need to consult you when setting up their departments. In solo operations, it means that you should not need to do extra research outside of consulting your plan unless something unforeseen happens.
Your plan should describe the major operations, layout marketing tactics to reach the initial audience with demand and to keep growing from there, identify the equipment you'll need, and otherwise cover everything that goes into actually running the company. That makes it a lot easier to put the pieces together.
5. Put It All Into Motion
The first step after finishing your plan is usually financing because that gives you the financial reach to start operating. There are just a few cases where that is not the case. Solo operations can sometimes bootstrap basic services to get a little income going by working out of the house or a client's facilities. Otherwise, it's a matter of lining up the money, then buying the equipment and hiring any staff you need. Last comes marketing and launch.
It is always a better idea to keep a dedicated portion of your income aside to fund your business, irrespective of its size. Businesses are full of ups and downs, and once you have set foot, there is no backing off. As a result, you have saved a significant amount of your finances to back up your persistent losses.
Upon completion of these steps, you might want to allocate a part of your economic resource to bring the necessary equipment for your business. This will streamline your operations and will ensure that your business operates seamlessly.
Key Takeaways
Starting your own business takes not only a great deal of money but also time and effort. However, it can also be extremely rewarding when done in the right way. Make sure to follow the above steps that will guide you throughout your business-setup process. For detailed insight, you can always consult a licensed professional for business advice. Get started today!
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Many business owners excel at the core activities of their company but can struggle with the supporting functions that come with it. It’s certainly true to say that not every business owner is a natural leader and manager of people, and nor would they consider themselves to be. However, this is something that must be learned, at least until the business is large enough to hire someone who is if the SME is to be a success.
So what are the realities of people management for business owners? We spoke to Vasco de Castro, the co-founder and business development director to find out what he has learned about people management during his time at the helm of the new international workplace fruit provider Fruitful Office.
1. Make your team the focus of the business
It’s the business owner who has grown the company from the ground up, so it can be difficult to let go. However, once you start taking on staff, it’s important to step back and play a supporting role. The tendency is to think the business is all about you, but it’s the people who work for you that play a key part in creating the business’s culture.
Making time for your team on a personal and professional level and listening to any problems or issues they may have is central to the perceptions they form about the business. It’s also important to acknowledge that in their specialist areas, employees may well be more knowledgeable than you. Asking for their input and acting on the insights they provide will help them become a valued part of the business.
2. Let them shine
The reason you’ve hired the workers you have is hope that they have the specialist skills you lack, so it’s essential you give them the support and space they need to put those skills to good use. The tendency to micromanage is something business owners should resist at all costs. Understandably, you will be protective of your business, but once you’ve provided clear direction and made your expectations clear, it’s time to step back and let them shine.
As Vasco de Castro explains: “In my view, it is the role of the leader to provide the vision for the business and communicate it clearly to employees. It’s then down to the employees to make it happen.”
3. Remember the bad bosses you’ve had in the past
When you’re finally in the position to be in charge, remember all those horrible bosses you’ve had along the way and make sure you don’t become them. There are a number of small and simple steps you can take to make your business somewhere your employees actually want to work.
Recognizing their achievements, giving them the freedom to make their own decisions, trusting them and actually getting to know them on a personal level all help. However, simply allowing yourself to relax and enjoy what working life has to throw at you has an important part to play in creating a loyal and energized team.
What do you think is the key to successful people management in an SME? Do you agree with Vasco de Castro? Please share your thoughts in the comments below.
