How to Run a Location-Independent Business
Remote and location independent international businesses are on the rise in the late 2010s. In fact, Walter Analytics as a company and a team is also a remotely operated business. We do believe in this approach and got many questions from clients and partners on how do we manage our business without maintaining a physical office. In this week’s topic, we will explain the benefits of a location independent business, how to run a location independent business and what are the most useful tools for a manager to run the business remotely.
Be transparent and proactive
Having a physical office will get you the benefits of having live conversations between your employees on your business. Office politics, new hires, new clients and all the good stuff in a “typical” company can happen there. But if you are a location independent business, you don’t have this setup so you need to create that atmosphere virtually. Have as much transparency as you can handle regarding the business KPIs, the economics behind your business, your business model, and the actual progress of your business. Your virtual employees will feel part of the company through this transparency. Proactive mindset is also helpful, letting to disappear employees online will hurt your business, while “sleeping” or underperforming employees in your physical office might be easier to manage.
Communicate, communicate, communicate
Communication is essential. Having regular meetings online will ensure the smooth progress. Successful online businesses have also guaranteed to maintain online channels where employees can interact with each other apart from email and other usual platforms. Maintaining an on-going relationship is a must. When your employees are stuck in a project, having a one-on-one call with them is highly significant. Know the options where your employees respond fastest to your reach outs.
Use the gadgets
You don’t have a physical office. Your office is the internet so you need to harness the power of online. Have all your tools set up and use them to build up your virtual company. Project management services, online chat rooms, mailing lists, developer platforms, online communication services, screenshot and screen share services are super important for your business. The key here is to mimic the office without stepping into one.