Virtual Company by S.Bhattacharya, PhD

Virtual Company has no physical space and some physical assets Most of the activities and transactions are done remotely and online.

People often only think of virtual businesses as the realm of freelancers, web designers, consultants and other "free spirits." In reality, there are many candidates for a virtual business model:

• Creative companies

• E-commerce and drop-shipping services

• Knowledge and information based businesses

• Outsourced services such as sales, marketing or administrative talent, Accounting, Strategies, Authors and speakers

• Remote workers often have home offices, but travel to conduct business in other cities or meeting points

Benefits to choosing a virtual company:

• Inexpensive to Set Up:

Physical businesses typically incur a lot of upfront expenses and equipment purchases. Virtual companies have few upfront costs, as are most services online.

• Easy to Set Up:

Many services are now available to make it easy to start a business, from online banking and accounting software, to those that help you develop your brand and manage your whole virtual office infrastructure. Less Startup Risk With less upfront investment and faster set up, virtual companies can be open for business quickly and with less risk.

• More Freedom:

Since virtual companies are managed remotely, you can be more flexible about when and where you can work. Most owners of virtual companies require only internet access, a table, a laptop and a cell phone.

• Easier to Scale:

Virtual companies give their owners time to grow sales and evolve their business, because they don't have to deal with the burden of high monthly costs or long-term commitments. As the company grows, more resources can be added incrementally without the need to make substantial long-term investments.

• Market Acceptance:

As consumers and businesses become more comfortable conducting commerce online, there is less emphasis on a physical presence or the need to deal with a large company. In fact, big businesses themselves have been working more with smaller businesses over the last 25 years, as they downsize permanent employees.

According to the  IndiaSpend, small businesses have created 111 million new jobs since 2006

How to run a virtual company

1. Use Google Meet, Zoom, LinkedIn and WhatsApp 

2. Schedule weekly meetings with team leaders, clients and Investors 

3. Set goals

4. Offer extraordinary benefits to clients and work team 

5. Track time and projects

6. Talk daily about project goals

7. Run business with good amount of transparency

- S.Bhattacharya, PhD