When it comes to success in business, we tend to focus squarely on the idea – particularly on having that ‘one great idea’ that the whole world is going to adore. While getting the seed of a company right is, of course, very important, ideas can be changed and improved. The viability and survivability of an enterprise are actually determined by the first few years of operation.
For instance, a lot of promising startups and entrepreneurial ventures begin with a bang. They might have a high profile launch. Oftentimes, they even have celebrity endorsements. It is no indicator of longevity, though because the ability to sustain is everything. If a young business cannot be consistent and perform steadily, it cannot thrive.
A big part of learning how to balance profits and overheads is finding suitable partners and providers. These vendors must offer a reliable connection to global markets, for a cost that doesn’t outweigh the benefits. Keep reading for some more advice on the key partners that young businesses in Hong Kong should be seeking.
A Premium Office Facility
These days, long-term office leases simply aren’t the only option. There are all kinds of ways to stay flexible and ensure a certain degree of wiggle room. For instance, Servcorp operates a number of virtual and serviced office solutions in top business areas of Hong Kong. It is a highly regarded provider because its services offer the same level of quality as high-level long-term contracts, but without the lock-in agreements or sky-high costs.
No modern business, big or small, can operate without access to high-speed broadband. With the rise of mobile technology, it has become possible to stay connected 24/7, even while away from the office. However, mobile coverage is often patchy and companies are strongly advised to invest in some form of grounded internet. The costs associated with this are usually very low and you can access the service when it suits, on a pay as you go basis, rather than wasting money on a constant service that you don’t need all the time.
A Dedicated Phone Line
It can seem rather old-fashioned, these days, to invest in a conventional grounded phone line. Yet, studies have shown that businesses with dedicated customer call lines get more opportunities and tend to be more successful. Just because you have a mobile phone that never leaves your pocket, doesn’t mean that it will always be appropriate to answer calls. When spending time with the family, for instance, you don’t want to be chatting to suppliers. So, a dedicated receptionist or virtual secretary is a more effective way to stay connected.
IT and Web Development Support
Working from a virtual facility is a great way to acquire top of the line resources at affordable rates. It would take a business several months and a significant amount of money to train members of the team in IT maintenance and support skills. Whereas, at a serviced office, 24/7 IT assistance is included as part of the resources in the corporate suite. To get advice on things like web development, online marketing, and software solutions, you only have to pick out and pay for the services that you need.
The Benefits of Sourcing All Your Needs from a Single Provider
The ability to source all of these resources and more from one vendor is something that younger companies should be keen to enjoy. The more individual rates that you are paying for, from independent suppliers, the more money you’ll spend even if you’re only accessing the same number of services.
This is because each provider charges for the actual cost of the service and then some, in order to make a bigger profit. At serviced facilities, the resources are shared by many tenants, so it’s easier for the provider to make money without inflating rates and fees.