Spit & Spat

Go Big for Potential, or Stay Small and Conserve?

Considering options for expanding in the new business venture, partnering with Jason with Computer Express, we are looking at two spaces on St. Thomas. One offers 7 times (!) the space, 875 sq. ft, a divided office space on the second floor of a popular business/shopping complex in the Red Hook area. The space has its own bathroom, a reception area, and multiple rooms where we could stock inventory, shoot videos, and a large space for the repairs. It's ideal for what we anticipate--about 4 times growth in our customer base. With the potential we see ahead, this space fits our goals and would be perfect. It's also double what we wanted to pay in rent.

The second space is next door, at 475 sq ft it's still 3 times larger than our space on St. John. It also would require build-out, as it's just an empty, worn space right now with a main area and a closet. It would suit our needs now, because it is larger than what we have and we could make it work. The rent is what we were hoping to find. But...meh.

So the question becomes, do you venture forward with a big leap, anticipating the potential growth and reorganizing finances to make it work? Or stick to the smaller space, build it up (which would also delay our opening date...) and stay conservative?

I say go for the gold. If you're not going to aim high, why are you trying?

Labels: career, goals, motivation, new business

posted by chelsea @ 8:16 PM