Most businesses are being regularly bombarded with claims that they have to invest as much as possible into their digital infrastructure. If a company isn’t investing heavily in tech, the argument goes, then they can’t possibly hope to endure for long in the modern marketplace. While it’s indisputably true that modern businesses demand robust IT networks and tech-savvy employees, it’s also a matter of fact that companies can’t ignore timeless assets like their physical infrastructure as they pivot in their business models and adjust to meet the challenges of the digital age.
Despite the importance of investing in tech, you can’t ignore your physical infrastructure. Here’s why we should be placing a greater focus on investing in our physical workspaces.
Your own building is a tremendous asset
If you ask most business owners what kind of assets they’ll need to survive and thrive in the forthcoming years, they’ll likely tell you that an excellent IT network and well-educated employees are more essential now than ever before. They’re not wrong, either, but they’re also ignoring another crucial component of the equation: physical assets. If your business doesn’t keep its physical assets in tip-top shape, you’ll never be able to expand to new heights and maintain profitability for long.
Owning your own building is a tremendous asset, but not every company must own the property it operates out of to succeed. Nevertheless, businesses which nurse concerns about the forthcoming future should consider taking some of their IT budget and investing it instead in their physical infrastructure. In some cases, bolstering your physical infrastructure doesn’t have to come at the expense of your technological prowess, either; invest in creating a smart office, for instance, and you’re simultaneously buffering your real estate value while enabling your employees to work within a tech-savvy and forward-thinking environment.
Sometimes, simple changes to the infrastructure that your company relies upon can yield tremendous results in the long-term. If your business regularly tours clients across its property, for instance, investing in how picturesque and sleek-seeming your property is will pay off sooner rather than later. Any visit to your property would be drastically improved if your steel is passivated, your concrete uncracked, and your entire office clean and hygienic. This will make your company appear professional and more than capable in the eyes of the clients and customers it’s trying to woo over.
Businesses that want to endure need stronger engineering
It’s also fair to say that companies who want to stick around for years to come need to invest more in their engineering if they want to literally endure. That’s because ever-worsening global climate change is leading to rising sea levels, more frequent floods, tumultuous wildfires, and disruptive earthquakes, to name but a few challenges facing humanity in the near-future. As coastal cities find themselves increasingly vulnerable to inclement weather and the climate crisis, businesses will deem them less desirable locations to operate out of. If you’re concerned about your company’s long-term prospects, you should thus take the well being of your infrastructure into consideration when basing your HQ or new branches.
Everyone, everywhere, will benefit from a renewed focus on stronger engineering and sustainable building methods which will enable our companies to remain open for business come hell or high water. Countless damage is caused with each hurricane, earthquake, or flood which besets a coastal city, and soon that damage will be wrought upon urban environments which are presently avoiding climate change’s more deleterious effects. If companies around the world want to seriously invest in the future, more money should be diverted towards infrastructure projects and public works which can prevent the economic collapse of entire economic regions dealing with a climate crisis.
Whether we’re discussing the individual well being of a small business or the broader health of the international economy, it should be clear to see that investing in your physical infrastructure is more important now than ever before. While the focus on digital goods and services is obviously warranted, business owners would be fools to forget about their old but valuable real estate investments. We may be speeding ahead towards a digital era, but we can’t forget physical infrastructure if we want to remain prosperous for long.