“Income rich, house poor”
I learned that concept from my grandmother who had an instinctive financial sense about her. She and my grandfather invested well and built a sizable nest egg from their rather humble factory worker wages. Even when they could’ve sized up their living quarters, they simply upgraded the modest-sized dwelling in which they raised their family, retired and hosted many a grandchild to great overnight visits!
In this year of foreclosures and upside down mortgages, I’ve often harkened back to my grandmother’s wise practicality. “If you want a big house, that may be all you’re able to have.” “Don’t spend before you save.” If only more of us could’ve grown up heeding such wisdom!
Through this season of economic downturn, I’ve realized more and more the parallels between sound personal and business finances. As I’ve observed many small businesses and sole proprietors struggle, I’ve realized that the same wise practicality that makes a household’s cash flow more easily works for businesses as well. Save first, spend later. Don’t overspend on what’s over head. It’s so true!
Is your business “revenue rich, space poor”? Are you buckling under the weight of payments for office space or a building footprint you simply don’t need or can’t financially sustain? There’s no shame in ixnaying an unnecessary or too costly physical location that’s negatively impacting your company’s health. As a matter of fact, making smart and bold moves actually shows savvy and smarts, the likes of which most customers would be drawn to.
The great news is that, today, there are many resources to help you never feel a loss of space, even after you get out of a burdensome lease or ownership situation. There are virtual office space and virtual meeting space providers that can responsively, affordably supply your space only when you need it, only for as long as you need. There’s endless technology to ensure your business never misses a beat when you delete physical location. You can stay connected seamlessly, easily. You can have all well-equipped, nicely appointed space anytime—without becoming “space poor.”
Why let valuable assets evaporate into costs to hold and maintain physical spaces? Invest in your business, your people, your service and product options for customers; don’t let the place where you conduct business become a trap. There’s freedom in wisely releasing yourself—your company—from the expense of ‘space’.
If you’re ready for some practical solutions for your business, visit Davinci Virtual to learn about the ever-growing, highly responsive and amazing affordable world of virtual office space solutions. No matter where you need to do business, no matter the size of the space you may require, Davinci has secured locations literally around the globe to offer smart and wisely practical business people great options to get the job done right..and right on budget.
I’m quite sure my grandmother would approve!
