I’ve got another question for the masses and would appreciate your candid responses.
We’ve got fairly nice office space here at MWI. It’s about 3,500 square feet, newly built out, nice conference room, four offices, receptionist area, open space, big sign on the building where it’s highly visible, etc. But for a long time I’ve been wondering whether it’s worth it, and I want to know what you think.
So the question is, if you were a client or potential client, how important would it be to you that MWI have a physical office vs. all our employees working from their residences? I’m talking about first impressions. You’re a potential client, you call us up, and you say you’d like to come meet with us and we tell you that we run a virtual office, and so we’d be happy to come meet with you at your offices, but we don’t maintain a physical office of our own. How would that affect your decision making process?
The second question has to do with the MWI sign. Those of you in Utah have probably seen it on the building. I can’t say whether or not the sign has actually landed us any business, but we do get frequent positive comments about it. But how much of a factor should that be as to whether we keep our office space or not?
I’d like you to answer those questions from the perspective of being a potential client because potential clients won’t know what I’m going to tell you next, which are the reasons why I’ve long considered ditching our office space:
1. We can save between $4-5K per month by not having the office space.
2. Clients/potential clients rarely come to our office. And by rarely I mean that of the clients we end up getting, 1 out of 30 might visit our office once.
3. I’m am 100% confident we can provide the same level of service without an office. In fact, we might be even more productive.
That $4-5K we could save comes out of our profits. In order to pay the rent and other associated costs we have to land $15-20K in work each month that we would not need to land if we didn’t have the office. However, if we move out of the office will we lose more than $15-20K per month of business as a direct result of not having an office? We just entertained a client at our office today, and it is likely we will get a $150K project from them. I’m not sure we would have gotten the project if we didn’t have an office. But that’s a rare occurrence. We have other clients who have paid us $50-100K and never visited our office at all.
Anyway, opinions from objective bystanders would be appreciated as we struggle with this decision.