What's it like to move offices as a business owner?
It can be a pain - but it doesn't have to derail your business growth!
In this episode, Wayfinding Growth turns inward as co-hosts Remington Begg and Dan Moyle explore what it's like to move locations through the lens of Impulse Creative's move from Fort Myers, Florida to Babcock Ranch, Florida.
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The Decision to Move
Impulse Creative held its last location in Fort Myers for 5 years. When Remington originally signed the lease, we had a 2-year extension option to stay at the current lease rate. That was the longest lease the company had in our history, with mostly 2 year leases prior.
At the beginning of 2019, Remington was planning to take advantage of the extension, but realized looking through the contract that there was a hidden caveat to the option: The landlord required a "Notice to Stay" 180 days (6 months) prior to the end of the lease.
Even as a leader who reads contracts, Remington missed this line.
So, with rates about to climb dramatically, he decided it was time for him and his co-founder, our COO Rachel Begg, to start looking for other options.
One factor that went into the move was how many team members needed full time headquarters office space. Impulse Creative had grown from a 1,300 square foot office to 4,000 square feet in Fort Myers, with the vision for 15-20 people working in-house. Instead, we've grown to 15 people with about half working remotely.
The Wayfinding Growth Lesson: The speed of business continues to increase and you have to be able to pivot.
Impulse Creative had to plan for flexibility and the ability to pivot. The 5-year plan 5 years ago has changed, including a 50% distributed team. So growth = fewer people in the office full time.
"One of the things we wanted to make sure we didn't do was to sign another 5-year lease. Not from a longevity point of view, but what are we going to hedge our bets against in the next 5 years."
How to Plan for a Move
A wise person once told Remington that when it comes to planning for your business, you should think, "What's the worst that can happen, and can you survive the worst?"
When it comes to any business decision and it's viable, and survivable, Remington says it's worth the risk.
To plan for the move, Remington and Rachel looked for the best way to mitigate risk, select a place that can grow with our growth but flexible enough to allow for our plans to come to fruition however they look.
Modern business has changed and Impulse Creative continues to adjust as needed. Remington even remembers when Mairsa Smith joined Wayfinding Growth on Season 1 Episode 4 to talk about the book Traction and setting a vision and goals for your business.
Setting goals strategically in manageable time frames with a plan to pivot when needed is key to purposeful growth in any business, including deciding when and if to make a move.
Remington's Navigational Tools
From reading to mastermind meetings to what he calls Podcast Roulette, Remington is always working to grow personally so he can lead the company well.
One focus for this CEO, which is part of how Wayfinding Growth will serve our listeners, is to look at parallel markets for inspiration.
Whether it's because your industry hasn't innovated lately, or because it's new and you're setting your own course, Remington suggests finding connections in other industries that have similar themes as yours, so you can find new and innovative ideas for your growth.
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