What’s holding you back from taking the next step in your entrepreneurial journey? Is it a reluctance to rent an office for your team? Or do you still need to find a great team? Maybe you’re concerned about reaching (and serving) a global audience.
Thankfully, there’s a simple solution you may not have considered that’d help with all three of these scenarios. While face-to-face meetings will likely never be completely replaced by video chats, there are some clear advantages to launching and growing your startup remotely.
You’ll save money on overhead.
Rather than spend a small fortune on office space, consider collaborating via home office, a nearby cafe, or explore coworking memberships that won’t break the bank. (Renting the occasional meeting space, or a ‘hot desk,’ as individual workspaces are often called, is a cost-effective way to enjoy office amenities without a big investment.) Whether you’ve already landed seed funding or are bootstrapping your business, saving early and often will help to propel you forward.
You can hire the best talent in the world.
As any seasoned entrepreneur or investor will tell you, assembling the right team is critical. Depending upon your location, there might be a huge, diverse talent pool available–but if not, you don’t need to worry about moving to a major hub. If the developer you need to launch your app is on another continent, start working with her remotely. If the PR pro who can help you gain exposure in your key markets is, ahem, living in those markets, don’t give geography a second thought. Hire remotely, and you’ll always be able to find the best person for the job!
You’ll offer global coverage.
Startups that have customers in a variety of timezones can have a distinct advantage over the competition. There are challenges, too–mainly, how to best support people and businesses in another part of the world. But growing a global footprint doesn’t have to involve late nights for founders or employees. With a distributed team, startups can secure market share, be responsive to customers’ needs, and be able to put use cases into a local context. After all, securing market share is only half the battle–retaining it requires the right mix of company availability and brand presence. At an early stage startup, a remote team makes this all the more feasible.