A virtual office is an office that allows you to work independent of physical location. Typically you have access to all of your information and communication systems and can easily relocate without having to reconfigure connections.
Your information can be hosted via a 3rd party or in-house servers hosted at a secure location.
- Mobility: you can virtually work from anywhere there is internet access. This means across the street or across the globe.
- Cost Savings: there are many ways to save with a virtual office. The first and most obvious is office space. One less obvious option is to relocate to a city were the cost of living is less than where you offer the service.
- You lose face to face: although this can be remediated with a good video conference system.
- More difficult to measure performance: Small Businesses are accustomed to measuring performance within a well confined office space. Hence, it is arguably more difficult to measure at a distance. I personally believe that with a shift in mentality and good control mechanism, performance is as easy to measure as traditional office layouts.