How to start a startup without physical office space in Mumbai?

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A virtual office is a young concept that is trending across the globe. By opting for a virtual office, you can easily get a business location that exists only virtually. Such a sort of setup allows the entrepreneurs to work from any preferred location just by using the bliss of technology.

A virtual office charges the entrepreneurs for the prestigious business address, handling the mails, handling the calls etc. without assigning any dedicated workstation to the individual. It very strongly helps the young new bees who have ventured into building their dream startup businesses. These kinds of young startups are majorly based on the concept of bootstrapping.

Here are few of the major benefits of getting a business started with a virtual office in Mumbai. The virtual office addresses in Mumbai are similar to the shared office space or the business centers.

  • Equipped with an official mailing address– It is undoubtedly crucial for possessing a business address for the entrepreneurs as it builds a professional image and this facilitates in the organization’s initiative of credit building among its stakeholders.
  • Reducing the time of commuting– When one works as a freelancer, it is absolutely very essential to effectively manage the resources and times for the complete cycle of the overall responsibilities in the project right from the scratch till the last phase of execution. These all are to be managed single-handedly most of the times or with the help of a small team. So, it is crucial for them to make the best use of time within the limit of the working hours. The freelancers usually do not prefer to waste their time in commuting and prefers to work from their convenient location of the home or while traveling to other cities. So, a virtual office is of major significance for the startup entrepreneurs and freelancers.
  • Handling of the budgets– One of the prime considerations for any startup is to manage the expense effectively and managing the operational expenses within a minimal budget. The virtual office in Mumbai enables the startups to possess a prestigious business address without owning the space. This reduces the cost of rent in an expensive city like Mumbai and also cuts down on the other expenses like the maintenance costs of the space, broad line internet connection etc.
  • Expanding to the other locations– There are several startups and also established companies expanding their mode of operations by functioning from different locations. This mode of functioning is being streamlined by switching from the physical mode to the digital mode. The virtual offices in Mumbai is a boon to such startup companies as they are affordable and at the same time professional as well. Such virtual offices in Mumbai provide several facilities like the meeting room facility and the payments are charged as per the time of usage rather than paying huge rents month after month.
  • Facility of phone call handling– With the aim of increasing the customer interaction during the business hours, the reception and phone call handling facility are of prime importance. This forms a sense of professional responsibility among the entrepreneurs who opt for the virtual office in Mumbai. This also enables them to keep a record of the queries from the prospects and stakeholders which is a critical task for the growth of the business.

Here is a set of 5 major questions which you should answer as a startup entrepreneur. This would ideally help you decide whether a virtual office is perfect for your business venture.

  • What are the ways that you need to implement in order to impress clients?

As an entrepreneur, you need to brainstorm on how you can successfully attract and impress your prospective clients. Are your prospective clients some conservative business owners or are they a bunch of young professionals who are digital age savvy? Depending on the kind of your target clients, you should be able to decide whether you would require a physical office or a virtual office.

  • What is the size of your present team?

If your team consists of just you or few other individuals, then it is unnecessary to opt for a private physical office. There are a dozen of teammates and all of them are working in close proximity, then renting an office would certainly be a smart investment but if the dozen of the teammates is working from different locations/cities, then a virtual office is something suitable rather than a physical office.

  • What is the role of interaction in your type of business?

To analyze the nature of the products or services that you offer in your business venture. And what role does team interaction play in their development? You necessarily need to determine whether your nature of business requires more of a team interaction or is it more likely to develop within isolated spheres of expertise.

  • What kind of working capital and the kind of expected revenue you are counting on as an entrepreneur?

The prospect of operating from your own office may seem exciting to you. But you need to necessarily determine whether you are really able to afford it. Most of the times it is wise to opt for a cheaper yet a quality option like a virtual office space especially in an expensive city like Mumbai.

  • What is your preference?

This is arguably the most crucial question. After strategically examining the logistics of the situation, you might get the right introspective. You need to determine whether you are happier working from the comfort of your home or you would better thrive from an office. You, as a passionate entrepreneur, know the brand and tone of your organization probably in the best possible manner. So, you can trust your instincts to take the right decision.