invest in face-to-face interaction.
by jody grunden
building the virtual cfo firm in the cloud
with a brick-and-mortar company, there are a number of standard costs that you would expect to have, such as rent or mortgage, utilities, building repairs, furniture, technology, etc. the total amount of these kinds of costs typically falls in the range of 3-4 percent of the company’s annualized revenue. that amount can be pretty significant for a lot of companies.
more: take the pain out of online meetings | leaders need time to lead | better understanding = better communication | why your firm’s core values matter | when value billing eliminates guesswork | make tech your ally in protecting clients | be more efficient with tech stacks
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some business owners may think they can save the company all of that money by going remote, but i personally believe that’s a terrible idea. while it’s true that a distributed company doesn’t have the costs that come with having a physical space, the very nature of a remote work environment results in a completely different and unique set of needs that should be considered in the company’s annual budget.
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