IDEAS ON STARTUP: ON RENTING BIG AND FANCIFUL OFFICE
BY: Kachi Ogbonna
When you want to start a business don’t be in a haste to go and rent one big and fanciful office even if you can afford it.
It is a trap and it can catch you in a very sensitive part you may not be able to escape.
It is not just about having the money to pay for the rent.
If you are in a place like Owerri, an average one room office space in a good location goes for between 400 to 500k.
If you pay for the office, you will need to buy at least a table and chair to put in it.
You will need to get at least a front desk officer because you won’t want people to come and your office is locked anytime you are not around.
You will buy generator because power supply is not guaranteed.
You buy fuel everyday.
You pay bill to EEDC
And many other things you never bargained for.
Grow lean by working from home for as long as possible.
If you feel a strong need to get an office, start by exploring a co-working space – it has so many advantages.
Work from there for as long as possible.
Before you finally move to your own personal and big office, ensure that your revenue is consistent and near guaranteed.
I share this with you from experience.
It is a mistake I have made in the past and I have seen some who made it and it ruined their business.
I won’t want you to make a similar mistake.
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