In other words, at the very least my business needs to generate revenue of $54,000 just to pay for space.
This doesn't even factor in the space my employees need to live the rest of their lives (wages that goes toward rent/mortgages).
Thankfully, both these numbers represent savings from 2015. Over the year I was able to reduce my mortgage payment for next year and Frontier is looking to downsize office space to save money. Both have provided great flexibility for me in my entrepreneurial journey.
Our choice of Victoria to live and work has been important as well. If Frontier were in Vancouver or Toronto, my mortgage would be higher, our office rent would be much higher AND our staff would need to earn more to pay for their housing as well. All of these added costs would have to be paid for by our clients (in theory).
So, be mindful of where you set up camp. When you're getting started be mindful of the office space you use and its purpose for you and your clients. As you grow pay attention to not just HR costs but space costs.
Those that fail to look at the global view of space costs find themselves with a less lean business. Don't be that guy.