Is The Future Virtual?

It may seem to be a knee jerk reaction to the pandemic: “Go Virtual!”

But for many businesses, a fully virtual – or hybrid – model may make a lot of sense.

There is a lot of talk in the business press about technology, finance, insurance, and similar largely “white collar” industries discovering that their productivity is remaining high in spite of almost everyone working from home. In fact, there is a fair amount of research that indicates many people are more productive working remotely. Further, these companies are realizing how much they can potentially save on rent and related expenses.

Thus, if your business can operate remotely, you may want to think about how this might work for you – both in the short and long term.

A good starting point is Shelly Spiegel, Founder/CEO of the 100% virtual company Fire Engine RED, who offers tips for going virtual. The book by the same name is quite comprehensive.

Of course, the primary potential downside of “going virtual” is the potential lack of informal communication, cultural bonding, etc. Shelly addresses that issue in her book – but it is the area of most risk – and should be thought about carefully.

We’ll explore some of those issues more in the future so stay tuned.

Virtually Yours,

Joel