It’s not hard to see why, because it’s cheap and convenient, although there are downsides to the idea too. For example, it can be a very solitary existence working out of a bedroom, study or even the garage. What’s more, there can often be frequent intrusions and interruptions from well meaning family members and friends. So, while it might be good enough, it’s far from ideal.

A new way forward

Little wonder then that the reasonably recent phenomenon of renting desk space and hot desking has really been taking off, thanks to an endless array of options all of which can be found by using the free and easy services of a comparison website online. What’s more, renting desk space or hot desking can be a really cheap way of getting you set-up in business at a prime location.

You’ll generally find that desk rentals can be had on a short-term rolling basis when it comes to contractual obligations, and due to the fact that landlords out there are desperate to make the most of their vacant office areas, you’ll probably find that prices are surprisingly competitive too.

Flexible and convenient

When you’re in the early stages of running a business then keeping overheads to an absolute minimum is a must, and the desk space rental scenario does just that. Adding to the appeal is that it’s very flexible, so if you start to outgrow your desk then simply ask the landlord to add on some more space. Further down the line you could always look at serviced office scenario, which is a rather grander setup complete with receptionists, IT support and post. However, in the short term, the concept of desk space rental or hot desking is very likely to help you drum up more business. For a start, there is a much greater chance of being able to network when you’re in an office with other like-minded people. It’ll also make a great location for meeting clients and prospective new customers too.

And, if you’ve got a business that needs to look it’s best, especially if you deal with the public on a regular basis, then having a desk space rental option in an upmarket business park or an inner city location will make a lot of difference when it comes to gaining credibility. Adding to that is the fact that you’ll also gain yourself a decent postcode too, which really could prove to be the icing on the cake of a new website or on your freshly printed office stationary.

In short then, if you’re prepared to spend a little time comparing the options that can be found online in mere minutes, then the desk space rental route is a great one to take. It could well be the best business decision you’ll ever make.

About the author: Rob Clymo writes on behalf of www.officegenie.co.uk, the UK’s online marketplace for finding office space in London and across the UK!.

Let’s review a few parts of the process:

1. You need to figure out what you want your cards to look like.  What kind of card says, “This is MY business”?  Is it a glossy card printed and cut from an 8 x 10?  Is it something on vellum paper, with a crisp, old school flavor to it?  Is it a little more down to earth, maybe printed on watercolor paper?  Is it funky, and printed on thick plastic?  Your card says an awful lot about you… put some thought into what makes your card different from everybody else’s.

2. Are you going to design it yourself, or are you going to farm it out? You can save some cash, and just use a freeware art program (like the Gimp) to put together a design… but it might not be the best.  Or you can hire someone (are you cool with a good designer?), and get it done professionally… for a price.  It’s your choice, either way.

3. Where are you going to produce the actual cards?  You can go to an expensive print shop, a discount printing place, a web site that lets you print (or prints and sends you) your cards, or you can use your own printer.  Obviously, the best option for ease and high quality is going to be a professional shop – they do this for a living, after all.  And if you’ve got a decent printer, and did the design yourself, your only outlay may be a few bucks for some high-quality paper (or plastic, if you’re really funky).  But of course, there’s always the middle ground – you can get really sweet effects by designing it yourself, and then get it printed up glossy (and pretty cheap) at the photo kiosk in a drug store.  Sometimes there’s the pretty ghetto act of having to cut an 8 x 10 into a dozen business cards, but they still look good.

In my short video review of the book Bootstrapping: Weapons of Mass Reconstruction by Sramana Mitra, I mentioned that she brings up the topic of mental capital. At many points throughout the book, Sramana talks about why entrepreneurs and start-ups should not go looking for venture capital, but instead focus on bootstrapping their business…hence the name of the book.

As a substitute for venture capital, she recommends getting as much mental capital as you can. Mental capital is the idea of utilizing the people around you (friends, family, mentors, and other business people) as your mental investors. It sounds pretty simple though – instead of going after venture capital (real money to surge into your business), bootstrap your business and gather as much mental capital (knowledge from other entrepreneurs, mentors, and business people) as you can. The mental capital that gets invested in your business by other people around you can be so much more beneficial to you and your company that it would worth more than any amount of venture capital.

As a young entrepreneur it’s important to soak up and get as much mental capital as you can. Talk with everyone around you, and more importantly, listen to everyone. Ask questions, discuss your business, get feedback, and then use it! If you’re a student entrepreneur, you even have another huge advantage over other young (recently out of college) entrepreneurs – you have so many more resources on campus: Your professors, library, resource centers, etc. Utilize them all, now.

Don’t let peoples suggestions just glaze over your head or in one ear and out the other. Be thankful for the time that people spend in giving you feedback, ideas, considerations, and sharing their contacts with you.

Now, go out there and get as much mental capital as you can and you will crush it.

Marketing
Most businesses cut back on marketing when times are tough, in an attempt to cut costs and stay afloat. Study after study has proven, however, that the businesses that succeed and grow the most after a recession is over are those who kept on marketing during the bad times. I’m not telling you to spend all your cash on marketing and hope for the best, but don’t cut back on your marketing just because there’s a recession. If anything, use the recession as an excuse to make every dollar count and negotiate better rates with Magazines, Printers and other sources.

Upselling
If you already have existing customers, a great way to bring in extra cash and hone your sales skills is to try and upsell them to a higher level of service, a more expensive product, or a  value added service.
For example, if you do landscaping during the summer, you could upsell a yearlong gardening service or your snow plowing service for the coming winter.  Call past customers up and offer them a member’s only deal or coupon to get them to purchase a new service or product. Try and develop services or products that require a repeat/monthly investment as well.

Efficiency
Making every penny count can be a good thing.  Take the time now to create processes, train employees and systemize your business so that runs like clockwork. The time spent in creating efficiency now will result in the ability to take on more customers and clients with the same system you already have, increasing your profits while not increasing your costs.

Lower Costs
Finally, use the downturn as an excuse to play hardball. Tighten the screws on your vendors and suppliers. For example, call your cell phone provider up and threaten to leave unless they give you a better deal. Tell your suppliers that they need to lower their prices or you will find someone else to deal with.  When they complain, simply explain to them that times are tight and everyone is making cuts in spending. They’ll understand and you’ll have more money to spend on marketing.

This guest post comes from Maya Richard, who writes reviews about cell phones. She can be reached at mayarichard [at] gmail with feedback.

Bootstrapped

Remember when you first started your business? Remember all those times when you worked out of the basement and really had no money so you just did the best you could? Well, you’ve been there once, you’ll do it again. Maybe you’re still bootstrapping though, not because you need to, because you WANT to.

Creative

Small business owners at some of the most creative people around. What happened last time you had a problem? You had a good long think about it, you looked at possible solutions and you thought some more. Then it hit you. You solved the problem and moved on. What would a big company have done? Probably spent one million on a consultant, and a few months on reached the same conclusion. You’ve done it since the start of your business and you’ll keep coming up with new and original ideas.

Passionate

There is a reason you get up early everyday and work ridiculously late into the night. The reason? you’re passionate! You love doing what you do, and that means that your work is the best it could be and your clients are happy (usually). You’d do anything to keep your business alive and growing.

Careful

During you business’ lifetime, you have been careful. Where’s the work for client X? It’s in a folder on your desk. You don’t loose your client’s work, you know where everything is and what is happening at any point during the day. You didn’t take stupid risks with your money, and people can see that. you didn’t pile up debt.  Your clients trust you. You’re careful in every way possible. If you’re not, it isn’t just you at risk, it is your clients, and that matters to you (well it should matter).

You know your industry and business

If someone asks you to get you product X, you can do it, if someone asks you to design logo B, it’s done, if someone needs help setting up Y, you’re there. People in your industry (however big or small it is) know you can be trusted to do the right thing. You know the ins and outs of the industry and you also know how your business fits into it. Are you at the forefront? Maybe you are the company making things work at the back end? For any type of business, from eBay power seller to the next Silicon Valley start up, the industry and you relationship is crucial.

You know your clients

and they know you! The client-business relationship is crucial whatever business you’re in. If you are in a service business, then you need people to pay bills on time and to trust you and your judgment. If you sell products from your online store, then you need to know you can count on return visits and word of mouth. Your clients are your business and you have good clients.

You know your next step

Within a big business, knowing where you are going is hard. However, for the small company, you know where you want your business to go. You know which markets you want to penetrate, which products you want to sell, how many newsletter subscribers you need. With a clear plan, you can adjust your strategy accordingly.

So there you go! 7 reasons why you and your small business are perfectly poised to whether any kind of economics condition. Also, you are less likely to have copy cats/opposition in these conditions, so you can really stand out from the crowd. You might also want to check out this post by The Toilet Paper Entrepreneur about why now is the best time to start a business. What do you think?

Sophie