Folks get frozen on selecting an office location. Let's chat about some options so that you can move forward.
Are you stuck on the office question? I’m amazed at how many people I work with get stuck here. I think it’s because you have to have a physical address on your ADV, but that can be your home address, so relax. I’m not saying blow it off, but make a choice and move along. Easier said than done, I know, so we’re going to talk about a few options and some caveats for those options.
You can have a home office, executive office space, maybe sublet from another professional or you can have a freestanding office all your own. It really just depends on what you need. Think about the message you want to send and the tone you want your office to have. There are few, rare, but they do exist, community rooms in libraries and other public areas. You can even use those if you’re really on a tight budget, but check them ahead of time and make sure they’re sending the message you want to send.
Now, thinking about what you want to have going on around your office is important. If you have a toddler at home and are perhaps a stay at home parent, it might be a bit chaotic. Some folks need to have a real office to go to in order to really perform at their best. Others will freak out at the revenue pressure from a stand-alone office. Once again I’m going to my cop-out answer that there is no right answer but in this case, but there is a right answer for you. Remember you’re going to change most likely. Very few advisors are going to retire from the office where they set up shop, so don’t over-think it. Go ahead, relax, make a choice, and move on.
Now we're gonna dig into this more later in detail, but for now, I want you to make your best choice, acknowledge the fact that it’s probably going to change and then go get some clients because getting the revenue in the door is what’s going to open up the gate a beautiful dream office.