Subleased office space has become an attractive option for many companies over the past year. Markets have seen a 122% (!) surge in subleases according to figures released by Cushman & Wakefield. As businesses cut overhead costs, subleased office space looks more and more attractive … but it is not the only cost cutting option for your office space, and frequently not the best.
Shared office space, also called ‘office business centers’ or ‘executive suites,’ have been around forever and provide a similar option to sublease office space – primarily lower cost vis a vis traditional office space as well as easier lease terms. However, shared office space comes with important advantages over subleases.
The current economy presents an opportunity for new startups, as well as large corporate entities, to transition to mobile and ‘virtual’ workforces … both out of necessity and a new understanding of the future business landscape. (Read: mobile, flexible, technology based) The trend to cloud-based business operations is undeniable.
Unfortunately, the discussion has been of internal organization issues and productivity as potential problems that the transition to a virtual workforce present. While these may be issues to heed, in our experience, working everyday with home-based businesses and telecommuters, we have found that there is a much more critical problem for successful home-based operations.
Moving into office space is a coming-of-age moment for any startup. However, decisions made regarding your first office space can become an asset or can become a weight that dooms what would be an otherwise successful venture. As a shared office space provider working with start ups, there are four common mistakes that we caution entrepreneurs to avoid:
There is a secret new blog addiction amongst some of us at Pacific Business Centers … Trizle.com.
If you are looking for a high-minded academic or stuffy resource … this is not the blog for you. BUT, this style is actually one of the best things about their site.
Considering businesses can reduce their rent cost by 40% and also take a month to month lease term as opposed to the standard 3-5 month term with traditional real estate, more and more businesses are considering shared office space. For both small and large business, shared office space is a very smart option to at least research and consider.
But what should someone considering a shared office space watch out for? I’d like to share some industry insider insight and give you some questions to ask when you are touring shared office space to help in your search.
Values Based Initiatives Inc. is an unusual company I came across in a recent trip to upstate New York. In this trip I met with local leaders who share a vision of building a physical, technological, and educational infrastructure designed to accommodate The Future of Work in the Adirondacks Mountains (the subject of my last blog).
Read More→
The secret isn’t really a secret at all - it boils down to Business 101. What makes the difference between businesses that just survive and those that thrive is really an application of strategic business principles. The two core principles that bear the fruit of success – even in difficult economies – boils down to two over-arching goals:
- Don’t react to changes in the market place, get ahead of them.
- Reduce operating costs to increase your margin.
Thanks to the plentiful technology we have come to rely on, two things have happened that may or may not be a good thing: just about anyone with a laptop and a product or service to sell can be a small business owner , AND because of said laptop, just about every small business owner thinks they are a graphic designer. How many people do you know who have tried to design their own logos, business, coupons, advertisements, etc. As a small business owner or service provider, when you are beginning to think about branding yourself or your product, there are several basic mistakes that just scream “small”, and “unprofessional”. If you follow the simple guidelines below, your look will be clean and classy as well as extremely cost-effective.
On October 29, 2009 Pacific Business Centers (PBC) was invited to participate in the Stimulus@Work: Training Resource Fair held in Redwood City, CA. This event was sponsored by the County of San Mateo Workforce Investment Board and was an opportunity for PBC to connect with laid off workers who are considering a startup business venture or private consulting practice.
