With the entire business structure changing around us, there are a few tips and risks.
If you are starting a business:
Do not rent a space yet. Keep your overhead as low as possible.
You will need help to establish your business and it is much better to have some money to pay those you need to hire, rather than paying for office space.
Times are changing. Having an office does not make you successful. Your team does!
If you are an existing business but are struggling, you have a dilemma:
Do you need a space? If yes, you will have to adjust your operations to survive.
If no, then move out. It will save you major operational costs, and might save some of your employees.
If you need help:
DO NOT hire anyone who is in dire need of income free of charge with a promise of a salary “when things get better”.
Millions of people are struggling for income so that they can eat and pay their rents and so much more.
It is an insult and unprofessional if you tell someone to work for you without pay.
Even if your intentions are the best, a promise for future payment does not ensure anyone’s survival during these very hard times.
Modernize, adjust, cut unnecessary costs and always do the best, while being 100% professional and respectful to those you need to hire.