The workforce is changing rapidly which has inspired interesting trends in the remote working industry. Most companies have adopted a hybrid or remote-first approach. But many entrepreneurs see the potential to start a fully remote company.
However, it can be difficult for those who don’t have brick and mortar establishments to grow and scale their remote organizations. Working from home is more difficult than it looks and managing a remote team has its challenges. These pitfalls can affect company growth.
To assist you, we’ve put together ways that you can make your business fully remote. Additionally, we’ll give you advice on how to grow and scale your online business to boost sales and improve your profit margins.
Why Develop a Fully Remote Company?
In a survey conducted by GoodHire, 68% of employees stated that they would rather work from home. Employees are moving away from the office to work from home because it provides them with more flexibility. This means that remote companies will have access to a wide range of talents.
By developing a remote company you’ll save money on utility and overhead costs. You and your employees will also save time on commuting to work and back. Instead, travel time will be spent doing more work for the organization.
A remote company allows you to work anywhere. So, if you or your employees want to travel more, they won’t be confined to their offices.
How to Start Your Remote Company
If you’re in the process of developing your remote company then there are a few aspects you need to consider first. Here are some tips to get your business up and running.
Develop a Remote Business Plan
Statistics show that entrepreneurs who write a formal business plan are 16% more likely to build a successful organization. Create a business plan that highlights the following:
- – Your mission
- – Business goals
- – Core objectives
- – How you plan to achieve your goals
- – Marketing strategy
- – Financial planning and budgets
The business plan should also include your unique selling points and your internal structure. This plan should give you clarity of what you want to achieve, and it will give you a solid marketing roadmap.
Register Your Remote Company
Choose your company name and business structure. You can choose sole proprietorship, corporation or non-profit. Depending on what your company’s structure is you’ll need to register your business with federal, state, and local governments
Outline Remote Work Policies
Before hiring employees, you must establish your company’s policies that highlight your expectations. Provide details of what your working hours are and if you allow employees more flexibility.
Since you’re a remote company you may also want to include data security policies and guidelines for setting up home offices.
Work On Your Management Style
Building a remote company requires a completely different management style compared to an in-office business approach. So, you must adapt your management style when dealing with a remote team.
You want to ensure that staff complete tasks timeously, but you don’t want to micromanage them. As a remote manager, you must build trust and rapport with your employees. Be polite and have patience when dealing with team members and delegating tasks.
How to Grow Your Remote Company
Now that you know how to start your remote business here are some tips to help you scale and boost company growth!
Patience is a Virtue – Go Slow
You may get frustrated when building a remote company because you want to see the fruits of your labor immediately. However, scaling a remote business will take time. Spend time planning and establishing where you can make changes to improve your company’s process, communication, and production.
Hire Quality Remote Workers
One of the benefits of owning a remote company is that you have access to a massive pool of talent. You can hire people beyond your borders which will help you create a team with diverse cultures, thoughts, and innovative ideas.
However, you can’t simply outsource anyone. So, you’ll need to post job descriptions on platforms where you can view a candidate’s resume. Only contact the candidates that you feel are the right fit for your remote company. Then conduct interviews via Skype or Zoom.
Utilize Remote Platforms to Advertise Your Business
There are thousands of remote platforms where you can promote your business and attract new leads. These remote platforms allow you to conduct business with companies around the globe. The advantage of remote business platforms is that you can work with large international companies.
Invest in Quality Technology and Digital Tools
You can’t scale or grow your remote company if you have outdated technology. Poor quality hardware and software can slow down production and cost you money. Make sure you have the latest device models that will run various types of software easily.
Invest in online tools to help you communicate with remote employees and clients. Utilize platforms that allow you to schedule tasks and create lists for the different clients you may have. Learn how to delegate work so that you’re always able to deliver quality work on time.
Educate Employees on Remote Working Best Practices
Remote workers can experience burnout because they don’t know how to manage their time correctly. For your remote company to grow your employees must have healthy working habits. Teach them how to save time and plan their day effectively to avoid employee burnout.
Final Thoughts
Do you need more innovative ideas on how to build and grow your remote company? At Daveron Networking we offer scalable, strategic, and reliable business solutions to help SMBs break through the noise and consistently hit their KPIs.
Ready to grow your business? Speak to our growth experts and learn how to expand your customer base, drive revenue growth, and optimize your business operations.
