As CEO, you are charged with making myriad decisions that impact thousands of employees, shareholders, partners, associates, vendors… the list goes on. When you are facing a business relocation, though, your organization’s stability, security, and ability to maintain daily operations without interruption become the most pressing concern.
Opportunities abound - but mistakes are equally possible. Make sure to avoid these common missteps when moving a business.
1. Not having a point person.
Business relocation is a multi-faceted process that encompasses hundreds of details - details that can make or break a deal and the successful integration into your new space. These details require interdepartmental cooperation, as well as a big-picture view of the entire project.
Assigning one person to oversee and manage this responsibility is essential so pieces aren’t lost in the many cracks that can appear. Relocating is a dedicated job.
2. Underestimating the preparation involved in moving a business.
There’s no sugar-coating it: moving a business is a lot of work. And even the most seamless processes take time so that every step is completed with ironclad results. It can take months to acquire a property and initiate the first steps of moving. It can take many more to settle into the flow of business.
Make sure that you allocate an adequate number of staff and hours to deal with complexities. Also make sure that the staff has the know-how to coordinate cooperation between departments and navigate challenging scheduling issues. Working with an external partner can help you leverage real estate and relocation expertise - and free your staff to do what they do best.
3. Failing to accurately plan and budget.
There is no such thing as over-planning when it comes to business relocation. A systematic approach is a must: what steps need to be taken? How long will they take? Who is responsible for what deliverables? What is the cost for each task? Will any phases impact operational capacity?
Plan. Plan. And then plan.
While there may be hiccups outside your control (e.g., property owner issues), preparation and planning certainly are within your realm throughout the business relocation process. So is having the right people on the team and equipping them with the resources - and time - they need to get the job done.