Read More "First Steps to Starting a Business Collaboration"
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]]>First Steps to Starting a Business Collaboration
If you are looking to start a business collaboration, it can be difficult to understand where to begin. Collaboration between businesses can be game-changing as it can help build brand awareness, increase lead generation, cut costs, enrich your content, and bring in new skills. The hardest part about collaborations is how to develop them!
WHAT ARE YOU TRYING TO ACHIEVE?
The first step to starting a business collaboration is determining what you want out of it. Do you want a long-term partnership? A one-off collab? Is the collaboration an informal agreement or a formal strategic alliance with paperwork and contracts? It is key to determine the business objectives you would like to achieve as it will define the tasks you and your partner will take on.
WHO DO YOU WANT TO COLLABORATE WITH?
The next step is deciding who you want to collaborate with. Look towards businesses that you share values and goals with. You will not only enjoy working together, but your marketing efforts will also be more effective if you have the same target audience. Don’t be afraid to do some research on potential partners to see if you would complement each other.
TIME TO MAKE CONTACT.
There are a million ways to contact potential collaboration partners but here are just a few that you can implement right away.
1. Connect via social media
Social media is a great way to connect with whomever you like. Follow your ideal collaboration partner on their socials and engage in a meaningful way. Once you have built a connection, consider sending them a message about yourself, what you like about their business, and the opportunities you can create by working together.
2. join groups and communities
You can connect with other business owners and industry leaders through professional organisations and online forum groups. Members of these groups and communities are interested in sharing tips, advice, strategies, goals, and more. Being a part of these groups will expose you to in-person and online networking events and gives you a space to connect with like-minded individuals.
3. join flexible workspace/coworking space
Flexible and coworking spaces are collaboration hubs as they have several entrepreneurs, SMEs, startups, and enterprises sharing the same space. Striking up a conversation with a business owner at a flexible workspace is made simple as you share the same facilities and amenities. For example, Kelvin Pearson from the Men’s Legal Service and Terry de Luca from Counselling Solutions ACT found each other through working at Victory Offices. From sharing a cup of tea in the breakroom together, a business collaboration was born. They had similar interests in helping with family law matters and found that by working together they could benefit from one another’s expertise. Moreover, the free networking events at flexible workspaces encourage members to get to know each other even further and to cultivate a community for business collaborations.
Kelvin Pearson from the Men’s Legal Service and Terry de Luca from Counselling Solutions ACT found each other at Victory Offices in Canberra.
There was a huge need in Canberra for a centre to assist in client evaluations and we were lucky to find Terry just down the hallway.
I’ve had the opportunity to get insight on the evaluations and suitability needed within family law matters. It’s great that our clients can come and do everything they need in the one location.
Business collaborations are one of the most cost-effective and valuable ways to grow your business. They take a lot of effort and attention to manage so it is important to choose your collaboration partner wisely and to identify your business objectives from the beginning. Once you have your business collaboration, remember to nurture the relationship, and ensure you are mutually benefitting from it.
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]]>Read More "Why Flexible Workspaces are Collaboration Hubs"
The post Why Flexible Workspaces are Collaboration Hubs appeared first on Victory Offices.
]]>Why Flexible Workspaces are Collaboration Hubs
With the rise of remote working in the past year and a half, the importance of collaboration within a business is clearer than ever. Employees working from home realised that they could rely on digital collaboration, however most people preferred to have face-to-face collaboration, as they once did pre-pandemic. Since Covid, many businesses have adopted flexible workspaces as they have a multitude of benefits, one key benefit being that they are hubs for collaboration.
Here are 3 key reasons why flexible workspaces promote collaboration.
1. MOVEMENT AND INTERACTION
Since the introduction of open-plan offices in the 1940s and the popularity for them increasing from 1960 onwards, they are essential elements of today’s contemporary flexible workspace. Flexible workspaces incorporate the open-plan design, as well as implementing other spaces designed to promote free-flowing collaboration and movement.
These spaces are usually more relaxing, inviting, and non-traditional. For example, a flexible workspace provider, Victory Offices, has a communal library with comfortable lounges, reading nooks, and a fireplace. Workers can float between their private office to this shared space to have casual meetings and brainstorm sessions, instead of feeling anchored to their desk. Other collaborative spaces include café-style spaces, larger meeting rooms, terraces, greenspaces, and scrum areas with unique furniture that encourages workers to move around.
The option to work in different environments as needed can help to relax people and make them interact better with their teammates. When workers develop close connections with their colleagues, it strengthens their engagement at work and makes it easier to achieve business objectives.
2. WELL-EQUIPPED COLLABORATION SPACES
Flexible workspace providers are experts in supporting businesses, therefore they provide all the best facilities, tools, gadgets, and equipment for collaboration. Generally, flexible workspace meeting rooms will be equipped with premium teleconferencing equipment, LCD TVs with screen-sharing capabilities, whiteboards, stationery, and more. When workers have access to high-quality collaborative tools at their disposal, they tend to make use of them. This leads to more innovative and dynamic ideas.
3. NETWORKING OPPORTUNITIES
Whether your business works in the coworking area or has a private office or hot desks, all flexible workspace members share the building’s amenities and common areas and receive access to social and professional networking events. This allows them to network with people from other companies and industries. It is essentially a melting pot of skills and knowledge which is a huge benefit to any business no matter how small or large. Being around entrepreneurs, enterprises, freelancers, and more will encourage you to be more productive and you will absorb creative and innovative ideas constantly that you may not usually get in your network.
Collaboration is at the forefront as businesses navigate new ways of working. Flexible workspaces stand out as collaboration hubs as they are thoughtfully designed, well-equipped for teams, and offer a wealth of networking opportunities. Versatile and agile spaces are the future of working and accessing these will become advantageous.
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]]>Read More "Collaboration: More Than Just A Buzzword"
The post Collaboration: More Than Just A Buzzword appeared first on Victory Offices.
]]>Collaboration: More than just a buzzword
Collaboration has long been a buzzword in the world of business and for a good reason too. More often than not, collaboration drives more effective business outcomes and those that put in place the strategies and facilities to promote collaboration will advance higher than their competitors. Simply put, two heads are better than one.
But what exactly is collaboration and how can it help you and your business excel?
Collaboration is when individuals or teams work together towards shared goals. According to J. Ibeh Agbanyim, there are five principles of collaboration which include applying trust, respect, willingness, empowerment, and effective communication to human relationships. These are combined to create purposeful connections to achieve a common goal and ultimately improve your bottom line. In today’s competitive environment if you are not collaborating then you are at a disadvantage.
Collaboration deserves the hype and this article, discusses 5 reasons why:
1. Knowledge-sharing
Working with people from different backgrounds and expertise will introduce you to a wealth of knowledge. You’d be surprised by the number of skills and information you pick up from others around you! This knowledge-sharing can assist in problem-solving, preserving existing knowledge, and increasing social interaction. When an employee acquires information but keeps it to themselves then the potential benefit is unrealised. But when that knowledge is shared, it can be applied to different contexts from the different team members, thus opening the doors to fresh ideas.
2. save time and costs
Delayed projects and tasks can cost businesses a lot of money. Collaboration helps with clarifying roles, monitoring progress, providing feedback, and sharing the load. When communication is clear, workers can consistently meet deadlines. This keeps the workflow going and the amount of time, people, and resources will be reduced.
3. employee engagement
Regularly working together with other people or other teams is an effective way of building trust and forming connections. The 2018 Global Study of Engagement found that workers who felt like members of a team were more than twice as likely to be engaged at work. When people are given the opportunity to collaborate, it improves teamwork which builds morale within the organisation. Collaboration on every level leads to engaged employees that are excited to take on projects and challenges.
4. Unify a dispersed workforce
In today’s working world, remote work is common and though it has its benefits, it also comes with its downsides such as workers feeling isolated from their company. Online collaboration tools and a business that fosters a high level of collaboration can help remote workers communicate real-time information and feel connected wherever they are located.
5. self-analysis
Working alongside others with different skill sets, experiences, and strengths, challenges workers to reflect on their competencies. What are their strengths and weaknesses? How can they contribute to the team? It opens the opportunity to leverage those differences and collaborate in a way that is complementary to each other.
Collaboration is a buzzword because it is necessary for businesses. The multitude of benefits such as increased productivity and innovation is worth the time and effort to cultivate a collaborative workplace. Now is the time to incorporate more ways to collaborate in your business so you too can reap the benefits and see your business thrive.
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]]>Read More "Explore Richmond’s Newest Serviced Office Space"
The post Explore Richmond’s Newest Serviced Office Space appeared first on Victory Offices.
]]>explore richmond’s newest serviced office space
If you’re looking for a corporate office outside of the Melbourne CBD, look no further than this brand new professional business centre.
About Victory Offices
Set to open in July, 2021 this highly anticipated serviced office will offer local corporates a professional office space outside of the CBD. With 24 locations across Australia, each Victory centre provides unique spaces, lounges, and opportunities for their members to future-proof their business. Unique to Victory is the size and spacious nature of their offices, each being designed to offer comfortable surrounds for members.
Richmond is fast becoming a popular hub for coworking spaces, with plenty of public transport options, close proximity to the CBD, and a vibrant hospitality, retail, and entertainment district, this bustling suburb offers a great balance between work and play.
600 church st, richmond
This carefully designed space by Wood Marsh Architecture took inspiration from the area’s industrial heritage and combined it with the characteristics of a cut diamond. The impressive building has some incredible features such as the calming zen room and luxurious rooftop terrace. Enjoy your lunch outside in the sun or host a casual meeting all whilst basking in the 360 views of Richmond. Most importantly, this building will offer a range of flexible office solutions all with cutting-edge amenities to ensure every business no matter the size is well-supported.
AMENITIES AND FEATURES
- Daily Cleaning
- End-of-Trip Facilities
- Executive Meeting Spaces
- 24/7 Access
- Rooftop Terrace
- Calming Zen Room
- Barista-Made Coffee & Service
- 360 Degrees City View
- Close to Public Transport
- Professional & Social Events
- Onsite Reception & Support Staff
- Enterprise-Grade Fibre Internet
- Coworking and Serviced Offices
- Flexible Memberships
Whether you’re looking for your own private office or working in a collaborative coworking environment with like-minded business professionals, Victory Offices in Richmond can help your business grow.
Top 3 Reasons Why Members Love Working at Victory Offices
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]]>Read More "Reimagining the Workplace: ‘The Liquid Workforce’"
The post Reimagining the Workplace: ‘The Liquid Workforce’ appeared first on Victory Offices.
]]>Reimagining the Workplace: The ‘Liquid Workforce’
We are in the midst of an astronomical transformation in how we work. It is very unlikely we will not return to our previous ‘normal’ as the mindset has shifted to work being something you do, rather than somewhere you go. The coronavirus pandemic has accelerated long-awaited workplace trends that would have taken years to reach mass adoption. In just three months, remote work has jumped a decade forward. This rapid change in such a short period is the beginning of our future – the ‘liquid workforce’.
The ‘liquid workforce’ is where teams are organised and shaped in such a way that they can rapidly adapt and change depending on the environment they are in. At the core of this concept is enabling extreme flexibility, prioritising employee health and wellbeing, and embracing digital innovation. Large economic uncertainty experienced recently on a global scale has pressured businesses to adopt a high level of elasticity. With restrictions continually easing and tightening, the next normal will be to embrace radical shifts.
The first step businesses must take to thrive in 2021 and beyond is to enable extreme flexibility through the hybrid work model. It is the preferred way of working with up to 60 per cent of Australian workers wanting to work remotely for two or three days per week. The hybrid work ecosystem establishes trust and autonomy between employers and employees and helps to support a more flexible and healthy work-life balance.The office will become a hub for collaboration, education, and innovation, as well as a melting pot for social interaction and team-building activities. It will also be ground zero for organisational culture and evoke a sense of pride and belonging. No longer will the traditional office be the place where you go to work every day, but instead it will be one of many tools to improve human experience and performance. The hybrid work model removes boundaries tied to the workplace and most importantly gives employees choice.
It is anticipated that commercial real estate landlords and flexible workspace providers will adapt their workspaces to provide a high level of comfort and become more collaborative than ever. Think, more breakout spaces, more scrum areas, more coworking spaces, and more easy-to-reserve meeting rooms.
The second step executive leaders must take to reimagine the workplace is to relinquish traditional ways of thinking and adopt a human-centric approach. People are any business’ number one investment and addressing their needs and preferences is imperative to attracting top talent and retaining employee engagement. The more satisfied an employee is, the more willing they are to adapt and stay within the organisation. The health, wellness, and mental wellbeing of employees must be front of mind, especially as we come out of the crisis and shift towards a more dispersed and digitally connected workforce. Undoubtedly as remote work increases, there will be an upsurge in the desire for human connection, thus employers must work alongside their employees to accommodate these needs. By making individual health and wellbeing a crucial priority and seeking opportunities to improve it, businesses will come out more profitable and productive.
The third and final step to a successful liquid workforce is being digitally enabled. Workers need to have a digital-first approach. With AR/VR platforms, Internet of Things (IoT), virtual offices, digital collaborations, and digital talent on the rise, it is no surprise that businesses with innovative tech systems and resources will gain a competitive advantage. The shift towards a dispersed workforce will see the working world of 2025 requiring a liquid footprint and technology will be a huge factor in enabling this. During pre-COVID-19 times, work was a physical location and workers were supported by the cloud. Now, as we move towards a worker-centric world, work will be anywhere and at any time, and the cloud will be heavily relied upon.
Reimagining the path towards a new way of working will take responsiveness, agility, and resilience. COVID-19 hastened workplace trends at a remarkable rate and has made businesses realise the significance of responding and adapting to new and changing information. Businesses must activate the liquid workforce to thrive in today’s fast-paced digital environment and provide flexibility and choice through the hybrid work model.
Technology will be a main enabler of the worker-centric world and those that have it will pave the way of the future. The dispersed, digitally enabled, liquid workforce will consist of employers prioritising employee health and wellbeing and satisfying employee preferences and social concerns. The ability to continuously adapt to new and changing conditions will be essential for business success and sustainability.
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]]>Read More "How Laughter Can Positively Transform A Workplace"
The post How Laughter Can Positively Transform A Workplace appeared first on Victory Offices.
]]>How Laughter can positively transform a workplace
Laughter is a free and underutilised resource that any workplace can benefit from. With stress and anxiety at peak levels across Australia, a good laugh can be refreshing and relieve tension from deadlines, overbearing colleagues, and revenue targets. Happier, livelier workplaces also tend to output excellent products and services as the employees tend to perform better, are more satisfied, and report less for stress and burnout.
There are also clear physical and mental benefits:
Physical benefits of laughing
- Decreases stress hormones
- Releases pain-reducing endorphins
- Improves immunity
- Gets your heart pumping
- Enhances intake of “oxygen-rich” air
- Aids muscle relaxation
Mental benefits of laughing
- Reduces stress
- Reduces negative feelings like anxiety and anger
- Boosts mood and creative output
- Boosts engagement and well-being
- Boosts analytical precision
How does laughter make me a better leader?
Cultivating and encouraging an atmosphere of laughter makes your colleagues enjoy working with you more and increases the trust you have with them. When they can see a good sense of humour and your ability to showcase your funny side every now and again, it doesn’t make you look any less of a professional, but instead, it creates a stronger relationship.
Managers should strive to create a habitat where employees feel supported to bounce ideas around without the fear of being shot down or judged. Entrepreneur Peter Sims wrote in his book Little Bets, “A playful, light-hearted, and humorous environment is especially helpful when ideas are incubating and newly hatched, the phase when they are most vulnerable to being snuffed out or even expressed because of being judged or self-censored.”
Another incentive to inject laughter into the workplace is that there is a correlation between executives who used humour and the bonuses they received. According to Fabio Sala in Harvard Business Review, the “funnier” an executive was, the higher the bonus.
How do I use humour at work without it being a liability?
Within the bounds of decency, laughter overall is a positive thing, and the benefits are countless. It is important to be conscious of the volume within your workplace and to avoid distracting colleagues. Teasing other staff members and telling dirty jokes is not the way to using humour in the workplace.
Here are some ideas of what you can do instead:
1. Master the art of self-deprecating humour
Making fun of yourself is always a safe choice in the workplace because it is unlikely to offend anyone. This type of humour indicates to others that you don’t take yourself too seriously and that you are a good sport about your shortcomings. Do not joke about your job skills though because it may put your capabilities into question.
2. Start meetings with work-appropriate jokes or funny stories paired with your intentions
You can say something like, “I believe we can laugh and enjoy ourselves whilst achieving our objectives. Please don’t mistake my use of humour as a lack of concentration. When we have a lively environment, you are more likely to be open to sharing, learning, and retain information for longer.”
3. Host “silly days”
Have employees dress up in silly socks, hats, glasses, etc. This is especially easy and fun to do when working from home.
4. Set up a funny library
Create a funny library with work-appropriate memes, jokes, GIFS etc.
5. Wordplay
Dad jokes and puns can be groan-worthy but if you manage to cleverly spin some industry-specific concepts, then you may be able to elicit a few laughs depending on the person.
5. Sarcasm
Sarcasm can be extremely effective, charming, and clever if used correctly. Use it sparingly at work because it can also send mixed messages. Stay away from using sarcasm for delivering important messages.
A little laughter at work goes a long way. It is the sound of successful collaboration, bonding, and a supportive environment. Consider ways of making your workplace more joyous as the mental and physical benefits of laughter are immense. Don’t be afraid and let out your chuckle, chortle, or even your full-belly laugh!
Are you in need of a hearty laugh and a good drop of wine? Victory Offices, Business In Heels, and Naked Wines are partnering to deliver exactly that! Join us for a fun and lively evening with headlining comedian, speaker, and founder of Shebah, George McEncroe.
We have some amazing prizes up for grabs such as a 1-hour marketing consultation, The Relax Bundle from The Base Collective, yoga classes, and MORE! Each ticket also comes with a $100 voucher for Naked Wines. Who wouldn’t want that?!
Register HERE.
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]]>Read More "Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces"
The post Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces appeared first on Victory Offices.
]]>Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces
In this ever-changing environment, flexibility is key to sustaining business so it is no surprise that flexible workspaces are becoming increasingly popular with the global flexible workspace market expected to expand at a CAGR of +12% over the forecast period 2020-2026. Its projected growth and the increasing market is incredible, so how come many entrepreneurs and businesses have held back from using flexible office space?
Here, we tackle and dispel the top 5 most common misconceptions about flexible workspaces and reveal why flexible workspaces are something you should keep in your back corner for business success.
Misconception 1: Looks Unprofessional And Unestablished
There is a level of trepidation attached to the idea that without your business name on your office building, clients may presume your business is unprofessional or unestablished. This is not the case at all. What matters to clients is not the brand logo slapped on the front of a building, yet it is the service and value that is delivered. Instagram, Uber, and Spotify all started at coworking spaces and their value was never diminished because they operated in a flexible workspace. It worked to their advantage as potential clients saw them as forward-thinking, risk-mitigative, and a business that seeks creative solutions and a collaborative community. Flexible workspaces offer a wealth of high-quality facilities, resources, and superior customer service, never failing to leave a long-lasting impression on members and their clients.
Misconception 2: Coworking And Flexible Workspaces Are Only For Startups, Freelancers, And Solopreneurs
Whilst originally, coworking and flexible workspaces appealed to small startup teams and ‘solopreneurs’, large companies and multi-national enterprises are now seeing the value that flexible workspaces can offer and how it can fit into their flexible work arrangements. Organisations have learned that employees are happier and more productive with increased flexibility at work and there is less of a need for a large real estate footprint in today’s market. Flexible workspaces offer various options suitable for the needs of any business. For example, if you are an Australian business and find that you have a growing customer base in Asia, you may want to expand to meet the demands of those new customers but the costs and risks involved in setting up an office are too great; this is where a flexible workspace can assist you. Quickly open a fully-furnished office using a flexible workspace provider and start working, all while enjoying 20% to 40% lower costs than a traditional office space; all the business-grade amenities, utilities, and services are already established for you. Flexible workspaces are accessible, affordable, risk-mitigative, and reap all the benefits of a traditional office space without the long leases and comprehensive expenses.
Misconception 3: Coworking Is Noisy And Distracting
Coworking spaces are a hub of innovative individuals or teams wanting to work, connect, and be productive. As most people there welcome the sound of spontaneous conversations and ideas bouncing off at team discussions, there is a mutual understanding of respect within the community that people are there to work so noise levels are kept low. 74% of professionals felt a boost in their productivity when working in a coworking space as it creates an environment of progress and activity. When complete silence or privacy is needed, flexible workspaces offer private office suites, phone booths, and meetings rooms, giving you the options to have the best of both worlds.
Misconception 4: Flexible Workspaces Are Expensive
This misconception derives from those comparing the cost of working from home to the cost of rented workspace. Working from home is indeed cheaper than working at a flexible workspace, however it can also cost you in more ways than one. Many remote workers report feeling isolated, struggle with juggling the work-life balance, and sometimes feel their productivity and creativity can suffer. Compared to traditional office leases, flexible workspaces are cheaper and will not only save you money, but time as well. You can tailor packages to meet your exact business needs and requirements, paying only for what you need and therefore minimising unnecessary expenses. With simple monthly fees covering all outgoings, office equipment, telecom services, administrative services, cleaning, etc. expenses, setting up your dream office can be done within budget. It is more than just an office you are getting, it offers a community, events, networking opportunities, and more benefits that you wouldn’t get through a traditional office lease.
Misconception 5: You Cannot Customise The Workspace
Not true, it all depends on the specific serviced office provider! If you would like to personalise your space and provide a unique experience for your clients in line with your brand, then you will have to do some research and shop around to find a provider that does so. Serviced office and flexible workspace provider, Victory Offices, offers a fully customisable fit-out option for your private office suite. The process is seamless and personalised, from having a meeting with a design consultant to establishing the brief, to the formal quotation and finally the setup and handover, the process is that simple. If you’re after that personal touch, find a serviced office provider that is open to office customisations.
Sometimes, changing up the way you work can feel daunting because of the unknown yet it can also turn into a decision that you won’t look back on and regret. We work for such a long period of our lives and it is beneficial for you and your business to find the right workspace. Flexible workspaces offer many different solutions and it is the flexibility and collaboration of these spaces that will see your business through.
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]]>Read More "Trading Halts and Capital Raising: The Purpose vs The Perception"
The post Trading Halts and Capital Raising: The Purpose vs The Perception appeared first on Victory Offices.
]]>Trading Halts and Capital Raising:
The Purpose vs the perception
Whether you invest in the Australian Stock Market (ASX) or not, a trading halt has the potential to sound ominous and worrying, however it’s not so uncommon in volatile economic climates and is more considered as a viable channel for organisations to take to protect their businesses and its shareholders. We are seeing many companies voluntarily suspend trading in a bid to accelerate recovery and secure their future.
Victory Offices had a one and a half month trading suspension in April and following that time off, announced the success of securing $15 million in Capital Raising. The funds raised will be used to strengthen the company’s balance sheet to manage the ongoing impact of COVID-19 and to fund working capital requirements of the business over the next 12 months.
CEO Dan Baxter stated, “the equity raising announced today, alongside operation and cost saving initiatives, will position Victory Offices to overcome adversities associated with COVID-19 and current market conditions.” It is a step in Victory Offices’ COVID-19 recovery plan and said to put Victory in a stronger position than their competitors.
It is not only Victory Offices that has had to halt trading and undertake strategies such as raising capital to place them in a better position as business conditions improve. Local and global companies are doing the exact same. For example, retail and services business – Kogan (ASX:KGN), vitamins group – Blackmores (ASX:BKL), and health food company – Freedom Foods (ASX:FNP), have also implemented a trading halt. Just last Thursday, Australian airline – Qantas (ASX:QAN), announced a trading halt and a capital raising of $1.9 billion to accelerate its recovery and position itself for new opportunities.
Although some may view a trading halt and efforts to raise capital as a sign of insecurity, it more so reveals the corporate support a company has gained. When a company has secured capital, it shows that investors see potential in the company’s future growth trajectory and the ability to sustain rapid revenue growth.
Victory Offices have now re-opened on the ASX market and their recent equity raising has positioned them to weather the situation that COVID-19 has caused the commercial real estate industry. According to Baxter, Victory forecasts an occupancy rate of 20% up to September, rising to 50% of “pre COVID-19 levels” by December and 80% by June 2021. Exceedingly promising statistics within 12 months for all invested both personally and financially with Victory Offices.
During this unprecedented period, it is crucial that companies deem it necessary to strengthen their balance sheets and liquidity position as the road to recovery will be long. These are a sign of the times and as more companies have their business operations severely disrupted due to ongoing COVID-19 government regulations, it won’t be surprising to see more trading halt and capital raising announcements on the ASX. Let’s just hope they all result in a positive outcome such as this one.
As business longevity and profit margins continue to be the talk of the town, flexible workspace providers are seeing a surge in demand, with small to large organisations utilising flexible workspaces to mitigate risk wherever possible.
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]]>Read More "Why Businesses Are Looking Toward Flexible Workspaces to Mitigate Risk"
The post Why Businesses Are Looking Toward Flexible Workspaces to Mitigate Risk appeared first on Victory Offices.
]]>Why businesses are looking towards flexible workspaces to mitigate risk
Flexible workspaces, such as coworking and serviced offices, are often recognised as the perfect solution for startups and small businesses looking to take that next step in their business. But following the impact of COVID-19, it’s not only startups that are considering shared workspaces. Established businesses are putting flexible workspace solutions at the top of their risk mitigation strategies. So will you follow suit?
We’ve seen a growing demand for flexible workspaces with a 30 per cent rise in the number of customers worldwide over the past couple of months. Private serviced offices, coworking spaces and shared spaces, virtual offices, as well as hot desks, have become an appealing and viable option for a larger section of the economy.
“The pandemic has shown a lot of businesses that they don’t need to lock themselves into a commercial lease”, says Misha Baxter, Global General Manager at Victory Offices.
In a 2019 survey of 19,000 business professionals across 96 countries, 73% of respondents said flexible working helped them to mitigate risk. This number is expected to grow significantly as businesses around the world further recognise the importance of the ability to pivot business operations as crises occur.
With so many industry-leaders focusing their efforts on business continuity, fortification, and revenue generation, many are asking themselves, how can my workspace adapt to the new ‘normal’ and how can it help manage new risks?
Following suit of these durable organisations can prove significantly beneficial for your business by considering the multiple avenues available to help ensure success, especially during these unpredictable times.
If you’re transitioning back to ‘normal’ business, or even just thinking about getting back to work, here are 5 reasons to keep in mind on why flexible workspaces are being considered across the globe as the best solution to mitigate business risks:
1. Reduce Financial Risk
Coworking spaces and serviced offices allow you more room-to-breathe financially as you can tailor packages to meet your exact needs and requirements, paying only for what you need and therefore minimising unnecessary expenses. With monthly invoicing covering all office, reception, furniture, cleaning, telecom, etc. expenses, the forecasting of your month-to-month cashflow and capex are significantly easier to not only manage, but optimise. This is incredibly advantageous as the hardest cost to minimise for SME’s are inherently the overhead costs required in traditional long-term leases.
2. Minimise Security Risks
It’s critical that businesses secure both their company data and that of their clients. A 2019 Australian Government report revealed one cybercrime is reported every ten minutes. As more professionals work from home, the risk of cyber security breaches is set to increase. Victory Offices’ flexible workspaces have an entire network of security measures put in place to prevent cyber attacks on your intellectual property.
3. Scalability
Coworking and serviced offices provide the freedom and flexibility to scale up and down at short notice. As businesses expand or reduce their workforce, flexible workspaces allow them to adjust accordingly with ease. Companies can have a full desk and IT setup essentially straight away, enabling them to get down to business immediately, as it’s simply ‘plug-in and play’. Whereas standard commercial leases are cumbersome, unadorned, lengthy, and can demand huge notice periods, making scaling to meet your business’ needs difficult, be it temporarily or permanently.
4. Focus on Core Business Operations
Business owners who utilise the advantageous services of flexible workspaces can ensure the seamless running of their business knowing that their administrative tasks are taken care of. Forget IT setup, daily cleaning, and reception duties, it’s all taken care of when you’re with a serviced office provider, so you have more time to focus on what really matters, your business.
5. Employee Acquisition and Retention
In this extremely connected and competitive occupational world, employee expectations and needs are everchanging. 84% of Australian workers would choose a job which offered flexible working over a job that didn’t. This includes working from home, working from a nearby location, working on the move, or just some breathing space to balance work-life commitments. If businesses want to succeed, they need to meet the ever-adjusting needs and expectations of employees and adopt flexible workspace strategies to help ensure they don’t risk losing out on top talent.
Generation Z will soon entail the majority of the workforce so it’s important to adapt your workplace and its benefits to this ‘digital generation’. By 2030, it is estimated that 30% of corporate real estate will be flexible. Get ahead of the game and consider a flexible workspace to obtain that winning edge over your competitors whilst also alleviating office expenses and operational restrictions.
It is crucial now and beyond, to seamlessly adapt processes and operations in order to negate business risks where possible. Thankfully, Victory Offices has remained open during the recent turbulent times, enabling members to continue working in a creative, risk-minimising, and safe space.
Victory Offices is currently offering a 2 weeks free trial so you can come in to any of our locations across Australia and experience the Victory difference for yourself and see how our exceptional facilities and amenities, award-winning services, and prime locations can help enhance your business.
The post Why Businesses Are Looking Toward Flexible Workspaces to Mitigate Risk appeared first on Victory Offices.
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