Moving out of your brick-and-mortar offices and running your company solely online can cut expenses and boost productivity
Plenty of Web entrepreneurs start their ventures at home and move into commercial spaces only when they expand. Unity Stoakes and Steven H. Krein did it backwards. They ditched their office space in midtown Manhattan a year after founding OrganizedWisdom, a health search engine vetted by physicians, and sent their staff of nine to work from home. And after more than a year of running OrganizedWisdom remotely, Stoakes and Krein wouldn't do it any other way.
The pair of serial entrepreneurs were willing to experiment based on their experience at their previous venture, Promotions.com, which they took public in 1999 and was acquired by iVillage in 2002. Stoakes recalls being frustrated by how much time they spent finding room and sorting out other operational details for a staff that grew to more than 200 people.
Founded in January 2006, OrganizedWisdom aims to provide health information curated by online guides and vetted by doctors, making money by selling advertising and licensing information to health media companies. To collaborate online, the company depends on group software like chat, wikis, Basecamp for project management, and PlanHQ for business planning