Category Archives: Office Space

Creating A Great Workplace For A Multigenerational Workforce

Helpful tips for a great workplaceToday’s office workplace is rapidly changing. Work is becoming more of what we do and less of where we are. What can you do to create a great workplace for your company? Here are several ideas that can help you.

First off, one of the tools being used in this change is that of office hoteling. It is where those who do not need a full time desk space simply login and reserve a space when needed, resulting in savings of up to 40% in real office space costs.

As the office space workplace goes more and more mobile, with employees working wherever is convenient, it becomes necessary to recruit and retain the most motivated employees. If workers are not self-motivated, the system can easily be abused. Today’s younger workforce, however, is used to and prefers the idea of being mobile. When pay is tied to performance, they can and will perform for your business and be happier while do it. They are also more focused on the work-life balance where this type of Officing strategy fits in well.

Once great part of the changing workplace is that, depending on the type of business you operate, hours can be flexible to accommodate the life-work balance necessary to keep the best employees happy. Many areas of business, for example office space, often lend themselves to hours outside the traditional 9-5 pattern. The flexible worker can maintain balance by planning errands such as auto service or simply relaxing over a long breakfast by simply notifying their employer that their day will have altered hours. That two hours spent in the evening doing revenue-generating work can be taken off during the day instead of being considered overtime.

Employees today move from job to job rapidly, each time moving up in salary and position. In order to keep the very best on your staff, you must be flexible with them as well as expecting them to be flexible with your needs. The increased work-life balance priority is related to shifts in workplace priorities since many workers will spend as much as 95% of their time away from the traditional office space.

Values sought by today’s worker in terms of work-life balance include respect and trust from the employer. Family concerns being respected by the boss is critical. They want some hours they can telework from home when needed or when desired and more control over their work schedule. Unless a company is willing to institute flexible work policies and programs, the brightest and best will move on to a company that better understands their wants and needs.

Assess what flexibility makes sense for your organization. Would an office hoteling reservation system allow you to reduce real estate footprint and help workers feel more empowered? Would accommodating telework from home when a child is sick or another emergency fit into your business? What other flexible options could you institute to keep your best employees happy and offer them a balance between family and life needs and employment requirements?

A properly planned office hoteling reservation system can save money and increase productivity. Contact us so we can get you started finding out how Office Hoteling might work for your company.

How Work Space Evolution Enhances Employee Performance

No matter what market your business serves, you know that profits are earned because of good, talented, employees working hard. Without these valued employees you would not have a thriving enterprise. And the better the team members perform the more your business will thrive.

So much of business performance today is knowledge-based work. People who have that knowledge and creativity are sought after by many companies and today’s workforce feel comfortable changing jobs several times in their career. This is so unlike our parents and grandparents where a person secured a job and stuck with that employer until they earned the gold watch at retirement.

Clearly, this means that those companies that are able to keep the talented knowledge employees happy will retain the talent longer than companies where employees do not feel valued, love their work and their work environments. When an organization can evolve to provide their team with practical options regarding where and sometimes even when work is performed, employees can choose work styles that best fit their personal needs.

One employee may work best in complete silence with no hustle and bustle around. That person may prefer to work from home, if the home office is quiet, several days per week and especially when performing more tedious tasks, coming into the office only as needed. This type of employee must be a self-starter who works well with little direction.

Another employee may thrive on the networking and sense of competition that the traditional office provides and prefer to come to the main office most days. These tend to be people who require a little more direction. While this employee will likely readily accept and implement technological advancements, they may be a bit hesitant when first making changes in processes to improve them.

Yet another type of employee may work best while on the move, working in third spaces such as cafes and internet hotspots while between meetings with clients. This type of working tends to be a real self-starter who has a strong dislike for the hassles of involved with reporting to a traditional office just for the sake of being seen. It is likely that this person will fully utilize each new technological development that makes their work faster and easier and embrace positive changes. This work style may involve some days spent at the office, some days where a few necessary minutes are spent at the office, and other days where all the day is spent working with clients or spots near the next client’s office.

An employer who can accommodate each of these types of employee will find it easier to retain talent and a high degree of production. When employees find they can work in whatever style suits them best for each specific goal or task, they are happier and feel empowered. Happy, empowered employees product more and stay with your company longer.

Six Factors That Can Help Turn Your Office Space Into a Great Workplace

Everyone wants a workplace that is wonderful but why is one workplace great while another is lacking? Is it the leased office space that makes a particular firm productive and profitable? Could it be the specific office furniture or location? None of these things alone make any workplace truly great.

A great workplace is not about the brand of computers, the prestige of the building’s address. Here are six factors that can work together to allow business owners to create an organization that excites employees, resulting in the reputation of being a great workplace.

  1. Replace Policies with Company Mission: Hiring, motivating and retaining top notch employees if not about policies; those are simply rules. Create a company mission and vision that the team believes in and supports. With passion for a mission based on the CEO’s vision, rather than a bunch of policy statements, cultivates a real team capable of leaping forward with ideas and innovations as well as loyalty and hard work.
  2. Nurture Collaboration: Never stifle team members’ desires to work together, carrying ideas from one area of the business into others. Create a workplace where each group or department is allowed to freely convey ideas to other organizational groups. The pay-off in productivity, amazing leaps forward and trained staff retention is incredible.
  3. Cultivate Agile Workspaces: Today’s office space is not the traditional cubicle or corner office. An office hoteling software application allows easy utilization of much smaller workspaces and allows each member of an organization to work in the style that is best for them. Technology allows the telecommuting or third place team members to only be physically in-office as needed. Work areas that provide desks or standing work counters allow team members to avoid the strain of sitting at a computer immobile for hours at a time. Staying in close contact does not have to mean being in the same conference room any longer. The office space of today is any area where business can conveniently and productively be conducted.
  4. Replace Ownership with Membership: Everyone employee is accountable to their customers and managers but in the past processes were “owned” by an employee, generating office stress and politics as power plays were often used to try to win the ownership role. Instead, remove the territorial nature of office spaces and encourage the concept of being privileged to be a member of a team or teams that create revenue and find ways for the company to save money. It becomes everyone’s process and fosters a sense of belonging and identity in the work environment.
  5. Create a Quality Experience for Employees: It is little surprise that employee retention is low in those workspaces that are dull and uninspiring. Create an office space that team members what to enter into and do work. Strive for a vibrant, magnetic space that draws people in during their in-office work time. This engages employees and they will look forward to the connected, exhilarated feeling obtained when they need to hotel an office space for an hour or a day.
  6. Stay on the Cutting Edge: Today’s fast paced, constantly changing economy allows those companies built on flexible office spaces with strong company values and loyalty to survive when others around them fall. As work methods, technological capabilities and mobile computing power speed along, use best practices to stay on the cutting edge. Remember that it’s the people who create value in a knowledge based company; an office is just a space that houses technology where people can come perform productive tasks.

These are some of the keys that can turn your office space into a great workplace for your employees, making them happier and more productive at the same time.

Four Generation Workplaces:
Why Different Management Styles are Necessary

For the first time in history, managers are faced with the requirements to effectively manage four different generations in the workplace. The future will likely continue to contain four generations even as those generations move along the timeline of life and business.

What Generations are Working Today?

According to the Age and Sex Composition, the generational breakdown of employees and managers today fall into these categories:

  1. Veterans born prior to 1946: This group makes up 2 percent of the workforce at the time of the census data collection and reporting in 2017.
  2. Baby Boomers born in the post-World War II years: This group is defined in the reports as those being born between 1946 and 1964 and make up 25  percent of the workforce.
  3. Generation X members, aka Gen Xers: are considered to be the segment born between 1965 and 1980 and make up 33 percent of the total workforce today and
  4. Millennial or Generation Y is the workforce members born after 1981 through present and total 40 percent of the total.

As time passes and the older generation disappear an additional, a younger generation will come of age so business will find it necessary to remain in touch with the remaining worker generations and develop ways to effectively work with the newer generations. Each generation has its own work style and lifestyle.  Managers need to understand what they need to do to encourage employee productivity. In the future and right now it is critical to learn to deal with the workers currently in the business world. This is crucial to producing profit and growth in any form of business.

Managing The High Maintenance Generation Y (Millennials)

The youngest group of employees in the workplace today is comprised of those born after 1981 and generally considered to be from before 2005s. This group is known as Generation Y or Millennials and they make up 40  percent of the total workforce according to Pew Research Center analysis of U.S. Census Bureau data. The American Society of Training and Development reported that during the next 20 years, 76 million workers will retire while only 46 million workers will enter the workforce to replace them. Most of these 46 million workers will be Millennial generation workers. Just as the three older generations in today’s workforce, Gen Y workers have unique desires and needs that they expect from their manager and the business for which they work.

Generation Y employees will be crucial to business enterprises. They will certainly change the way business is conducted in many ways. But, in currently and in the immediate future these employees offer great challenges to management to ensure these workers integrate with the existing workforce with as little conflict as possible.

Among the positive traits brought to the workforce, one of the major benefits that Millennials bring t the workplace is their high degree of technological skills. These employees were practically born with a computer in front of them and are intrigues by each and every development in the work of Information Technology.

Millennials grew up with digital global communication capability at their fingertips. Information of all kinds is expected to be immediatly available on demand. They understand using virtual teams to solve problems and are extremely team oriented.

Millennials view the business work as a global workplace, viewing the entire world as potential sources of information, clients, and community. Millennials seek fast-track career positions, frequent positive feedback, the latest technology and challenging training opportunities. Their outspokenness brings them to challenge long outdated work policies and conventions, offering businesses to perform a check on the hypocrisies and shortcomings of today’s workplace. Ultimately, Gen Yers may well drive change for the better.

Much has been said and published about the negative points of Millennials. They tend to have a sense of entitlement and are outspoken. This group of workers does not take constructive criticism well and require more direction and feedback from superiors than previous generations. Fortune magazine stated in its May 28, 2007 edition that this group are “the most high-maintenance, yet potentially most high-performing generation in history because its members are entering the workplace with more information, greater technological skill and higher expectations of themselves and others than prior generations.”  Additionally, Time’s July 16, 2007 edition stated that members of Generation Y want the kind of life balance where every minute has meaning; they don’t want to be slaves to their jobs as they feel their Baby Boomer parents were and often still are. Millennials also want employers to be socially responsible causes and allow for volunteer commitments through the use of flex-time or compensation time. Flexibility in work hours is important to this group of workers.

Yes, this generation requires a great deal of management, but it is well worth the effort to recruit them into your business They are smart and have the drive and creative thinking to make a real different in the business world and in a company’s profitability.

It is clear that recruiting Generation Y members and adjusting to their wants and needs will prepare industry for the entry of the next generation, people that are expected to be even more technology oriented. While this generation does not even yet have a “name”, it won’t be long before they begin entering the workforce and seeking employment in your company.

By understanding the four major groups into today’s workforce and providing for each group’s needs, effective employees can find their jobs satisfying and are more likely to remain with your business. Each group brings many positive aspects, all of which can be used effectively to gain greater efficiency and streamline operations to ensure profitability.

Managing the Baby Boomer Generation

Baby Boomers are those born in the post World War II years, from 1946 through 1964. This group makes up 25 percent of the current workforce per the Age and Sex Composition. These workers bring unique work styles into the work environment and require different management styles on the part of superiors. Currently they hold the majority of leadership positions in the workplace.

Like the veterans born before 1946, this group did not group up with technology as part of their childhood. Even during most of their higher education, computers were huge things that read punched cards or difficult to program units that could do less than our phones do today. Baby Boomers are, however, excited by technology and find adapting easier than the older generation. Most Boomers reach out for training to incorporate the newest techniques into their skills.

Baby Boomers value respect for their long service, skills, knowledge and managers will find recognition for Boomer’s wisdom is a key to successful integration of these workers and managers into the profitable organization. Managers of Boomers should honor the history and memories brought into the work environment because past experiences can bring understanding to current situations, providing positive outcomes. When policies are placed in a historical perspective, employees can often understand and accept more easily.

Baby Boomers find recognition extremely important. Whether recognized personally or publically, motivate Boomers through recognizing their accomplishment and clearly expecting superior outcomes from their efforts will help ensure happy Boomers. Embrace their best ideas and implement those into processes and methods.

Boomers tend to have conflict between their desire to compete on an individual basis and their desire to be part of a team. Encourage these workers to focus on the team in the short-term as an effective means to bring personal recognition and success for themselves in the long term.

Boomers also find conflict with the generation born before 1946 because the older generation tends to feel entitlement to perks on the job. Boomers often have the false feeling that those employees have not paid the dues they have to gain their positions. They also tend to find conflict with the younger generations coming into the workplace with high levels of technical expertise and feel they are unfairly competing with this generation that they view as “coddled”. By placing Boomers in mentoring positions, managers can often mitigate these negative feelings and generate feelings of teamwork and workplace “families”.

Managing the Veteran Generation

There are two groups in the workforce today who were born before 1946. Veterans of the Second World War make up about 2% of the employees, including managers, comprising the current workforce. This workforce group, sometimes called the Silent Generation, Greatest Generation, or Paper Agers, requires special management considerations.

The workers in this group were largely not exposed to technology and computers until these methods became a necessary part of the employment. Often they feel that due to their impending retirement they should not be required to move into the computer age. Because the work methods used early in their career were low-tech yet workable, they want to continue to use printed paper trails and other more familiar methods that they are comfortable with. Yet, the work environment has moved into high-tech and these workers are forced to adapt. Technology is the major hurdle for the generation of workers born prior to 1946. This can cause conflict between the Silent Generation and those born into the age where technology was part of their lives from childhood onward.

Paper Agers often feel that any information not presented in hard copy has little meaning. They find it difficult to conform to the paperless workplace. Their strong work ethics and “get it done” attitudes can add strength to teams and tasks assigned to be worked alone. This group of workers has no room for failure and drive toward success. They strive to please superiors in all their efforts and they do fine ways to adjust to technology when presented with training opportunities.

Often, veterans born prior 1946 find themselves in management positions because they are long-term employees and tend to be upwardly mobile in the organization chart. Their structured backgrounds lead them to have strong respect for hierarchy.  They build strong relationships based on loyalty, structure and time. They work well in management positions because they have been long exposed to experiences where information was provided on a “need to know” basis. This makes them able to keep information to themselves where necessary and provide information to the right parties when necessary. Their frugal natures make them capable of adhering to both budget and schedule.

It can be very difficult at times for younger managers to relate to the workers from this era. Frustration arises when the high-tech manager has to deal with their lack of native technical expertise, but they can excel in technical positions when provided necessary training. The younger manager may have grown up with high-tech and resents the cost and time required to train these workers in technology. Yet, the long-term work experience and lessons learned gained from these workers can lead to creative ideas that generate greater profit for the organization. Therefore, younger managers should be trained to value these workers and utilize their skills while providing growth opportunities through technical training.

Final Words

As you can see, there are many factors involved in creating a great workplace. Hopefully we have given you some ideas you can work with to enhance your business.

If you are looking for the right office space to create your great workplace, we’d love to help. It is what we do on a daily basis through out the US and Canada. Give us a try. No cost and no obligation. Let us know what you are looking for and we will get right on it.

Paying For Office Space With Cryptocurrencies

BitcoinSome office space landlords in Canada have jumped on the cryptocurrency craze by allowing tenants to pay their monthly rent for office space with digital funds. Apart from Bitcoin, office space landlords in Calgary are now accepting Ethereum and Litecoin as payment instead of cash.

According to Global News, some office space owners have started to accept digital funds because they foresee cryptocurrencies as the future of financial transactions. When it comes to the volatility of digital funds, the owners assert that it’s a risk that they’re willing to accept.

“There’s going to be a little volatility, and both parties have to accept that,” said the President of Real Equity Centre Greg Habstritt. “We believe that forward-thinking companies in Calgary, especially tech related companies, are going to be able to deal with that volatility.”

In the past year, Bitcoin has grown to become a viable form of finance, with multiple companies and financial institutions accepting it as a form of payment. Nadex in their article on trading Bitcoin, detail how the cryptocurrency has moved past its early skepticism that it wasn’t a legitimate investment to becoming an asset that investors want in their portfolios. Medium has an article on how much money investors are putting into Bitcoin today. In general, investors put 5% of their capital in cryptocurrencies for diversification purposes. Since investors have now acknowledged cryptocurrencies as an attractive financial asset, it is becoming more widely used in business transactions.

Using cryptocurrency to pay for office space is not just isolated to Canada. This business model is being followed in many places across the globe.

Barcelona Cahoot, Spain

Barcelona Cahoot is an office space in Spain that announced its support for cryptocurrencies in 2017. Alongside Bitcoin, it also accepts Ethereum as payment for leases. Like other office space owners, Barcelona Cahoot believes that the growing confidence in cryptocurrencies is a good enough reason for merchants to accept digital funds as payment. Barcelona was one of the first few office spaces in Europe to accept more than one type of digital fund.

The Yard, New York

The Yard is one of the biggest office space providers in New York. It operates multiple co-working office spaces not only in New York, but also New England. The Yard began to accept cryptocurrency for lease payments as early as 2013.

Rentadesk, London

Rentadesk is a co-working office establishment that aims to provide a comfortable space for students, freelancers, and independent professionals who live near Russell Square. Like The Yard, it started to accept Bitcoin as payments as early as 2013.

TechHub, Swansea

TechHub Swansea is the first venue in Wales that hosted a Satoshi Point event in 2015. Since then, the café and co-working space located within the venue have both accepted Bitcoin as payment for goods and office space rental.

Office and co-working spaces that have accepted Bitcoin as early as 2013 are now probably holding digital funds that are worth millions. Bitcoin was only priced at around $40 in the first quarter of 2013. Now, a Bitcoin costs around $6,700. Other cryptocurrencies like Ethereum are also gaining traction, which means that office space owners that also accepted other forms of digital funds will soon get more out of their long-term investments. As the cryptocurrency becomes more widely accepted, more companies will see the benefit of using the digital currency to pay for office space.

Office Space Alternative Choices for Smaller Businesses

office space alternativesIdentifying your priorities is a key to finding the right office space and determining an office space alternative for your company whether it is large or small. A full needs analysis is critical in the beginning of the process to make sure you are looking for what you need. Studies have shown that what matters most when selecting office space for rent is pretty consistent.

Here is where the priorities stand in importance:

  • Location 50%
  • Value 35%
  • Image 10%

If you want to go into more depth in analyzing your needs, we provide an Office Space Planning Checklist on our site so that you can make sure to consider all the major considerations when starting the process of finding you office space. In addition to the checklist we also offer an Office Space Calculator that allows you to determine the amount of office space you will need.

Operating a small business can be both exciting and lucrative. More and more people are leaving the traditional workplace to open their own ventures and becoming quite successful. Freelancing is becoming more and more popular. Many startups begin with only the owner working in the business which makes leasing or renting office space the largest overhead expense. There are practical ways to cut this big overhead item by thinking creatively. There’s no reason that every business needs a walk-up storefront in order to succeed.

Other than trying to find a small conventional office space for lease, here are some of the office space alternative choices available for smaller businesses:

Share an Office

If you have friends or colleagues who are also starting businesses that don’t require storefronts, consider leasing a spacious one or two room office and split the expenses equally. This reduces the costs for electricity, internet, janitorial, and other equipment leases. Instead of each office partner procuring a copier, fax, and other equipment that both parties use, only one item is needed, significantly cutting the cost. Compatible services work well in shared office spaces. One example that has proven to work great in shared spaces might be a software development company and a computer technology company. There are many other compatible combinations; just be sure there won’t be a conflict of interest or direct competition. Instead, seek an office mate that will be synergistic to your business, so you can help each other grow and thrive.

Executive Suite

These are shared office with services run by a management company. They provide not only office space but furniture, phones, Internet, office equipment and administrative service. They are typically a full floor of a prestigious office building and you will have lots of other small businesses around for networking.

Selecting the right serviced office is an important step in ensuring the success of your business. The reason for this nomenclature is that the office comes with all of the most common services already in place. This type of office is often called a “turn-key” office or an executive suite.

If you need a venue to hold meetings with clients, sign contracts, negotiate, and do some paperwork, this office solution might be just what you should lease. By renting this type of business space, you’ll have a furnished private office with computer equipment but share common needs such as reception area, meeting room(s), and other resources used by the entire group housed in the overall space. You’ll be able to use certain equipment and services on a “pay per use” basis.

Here are tips and caveats you should be aware of when selecting a serviced office for your business needs:

  • Location: Choose a location which is convenient for you, but also convenient for your clients. Is there parking available either on-site or nearby? What about handicapped parking? Is the building easy to spot or well-known? You want your clients to be able to find you easily and get to your door without walking blocks in the wind, rain, heat, or cold.
  • Appearance: Does the building entrance, lobby, and office interior make the statement about you and your business that you want and need? You need furnishings which are attractive and elegant yet not pretentious. Making the right statement about your operation is critical. Is the meeting room comfortable enough for a two- or three-hour meeting if those are occasionally part of your business lifestyle?
  • Equipment: Learn what equipment is provided in the turnkey office lease. You will likely find a desktop computer included but check to make certain it is powerful enough to meet your needs. Learn what the restrictions are regarding bringing in your own laptop or other equipment if needed. Realize that equipment you own may not be covered by the insurance covering other equipment, so keep this in mind and learn if the services provided by any specialized equipment are available nearby for a fee. Also, learn what speed internet connection is provided and ensure the speed meets your needs. If wifi is important to you, find out if it is in place.
  • Receptionist: Listen to the receptionist answer a phone call or call in yourself to see how the phone is service. Your messages will be taken by this staff person and your clients will have contact with him or her, so you want to ensure the job is done well.
  • Pay Per Use: Speaking of fees, you want to make sure exactly what the fees are for every pay-as-you-go service. These services will almost certainly include use of the copier and fax machine but may include other services such as large paper printers, binders, or other less common equipment. Ascertain that the costs are reasonable. Compare prices with nearby providers for services you use in massive quantities; it may well be less expensive to have the local Kinko’s or similar store produce large copying jobs. Ensure you don’t get “nickeled and dimed.”
  • Lease Provisions: Carefully read all the provisions in the rental agreement. Unlike renting vacant office space which you staff, there will be extensive details about what your private area will contain and what can or can’t be done with it, who must maintain what items, and other matters which deserve your attention.

Provider: Find a reputable executive office suite provider to help you locate the perfect serviced office. You can find great brokers online, Like OfficeFinder.com, who have sound knowledge of this type of office and are waiting to help you.

Coworking

Much like office sharing, co-working is a office space alternative concept originated in 1999 where entrepreneurs and small business owners who share the same values ban together to form a community of business people. Coworking usually begins when networking partners find they enjoy the social aspects of working in the same space and may often help either other’s business in various ways. The partners then lease an office space, sharing all expenses. Each of the co-working partners conducts their own business in their own workspace in the shared office and the co-workers may share support staff such as receptionists or clerical staff in order to keep overhead costs low while providing everyone effective support for their small businesses. This concept is growing into a great solution for hundreds of like-minded small business owners.

Coworking is a style of work which involves a shared working environment, sometimes an office, yet independent activity. Unlike in a typical office environment, those coworking are usually not employed by the same organization. Typically, it is attractive to work-at-home professionals, independent contractors, or people who travel frequently who end up working in relative isolation. Coworking is the social gathering of a group of people, who are still working independently, but who share values, and who are interested in the synergy that can happen from working with talented people in the same space.

Some coworking spaces were developed by nomadic internet entrepreneurs seeking an alternative to working in coffeeshops and cafes, or to isolation in independent or home offices. Surveys show that many employees worry about feeling isolated and losing human interaction if they were to work remotely. Roughly a third of both private and public-sector workers also reported that they didn’t want to stay at home during work. Coworking offers a solution to the problem of isolation that many freelancers experience while working at home, while at the same time letting them escape the distractions of home.

Business accelerators, business incubators and executive suites do not seem to fit into the coworking model, because they often miss the social, collaborative, and informal aspects of the process, with management practices closer to that of a Cooperative, including a focus on community rather than profit.

Coworking is not only about the physical space but mostly about establishing the Coworking community where businesses can work together creating a synergy.

The benefits of Coworking can already be experienced outside of Coworking spaces and it is recommended to start with building a Coworking community first before considering opening a Coworking space. However, some Coworking Spaces don’t build a community, they just get a part of an existing one by combining their opening with an event which attracts their target group.

A lot of Coworking communities have been formed by organizing Casual Coworking events that can take place in people’s living room or in public places such as suitable cafes, galleries or multi-functional spaces. During these events Coworkers can experience the benefits of Coworking and get to know each other which lowers the barriers to join a Coworking space later.

Virtual Office

Today, you really don’t need a specific location for an office with walls. With mobile wireless internet services, hotspots available in most metro locations and even urban areas, multiple personal data devices, and smartphones that do almost everything a computer does, it is possible to work anywhere at anytime. You can operate your business from your living room sofa, poolside, in your vehicle (please stop your vehicle in a safe location before texting or computing for safety), in a coffee shop, at McDonald’s, and right at your client’s desk. By using online services such as GoogleDocs, your information can be safely stored online for presenting to your client easily. With outsourcing of many tasks, you can take your laptop and smartphone and conduct business in any location you desire. If you do have a need for an office, Executive Suites also offer a virtual office service as a office space alternative that allows you to use an office or conference room on an as needed basis.

Lease a Desk in a Business that Buys Your Services

Often, a small business begins because on business requires the services that will be offered. For example, an insurance company may regularly require the services of a licenses investigator. If your small business is complementary to a local business, check into leasing a desk in an unused area of the office. In tough economic times, many offices are willing to lease a desk space to a small business that is not in conflict with their own business.

Home Office

The vast majority of small business startups begin in a home office. This type of office space alternative allows the entrepreneur to begin conducting business without making a huge commitment to overhead expenses. Also, many owners of small startups begin their venture while working a traditional career, making certain their business will succeed before giving up the regular paycheck. Some of these small businesses never move out of the home office, even after hiring an employee or two. Of course, if the operation grows large enough or requires a great deal of inventory, the time will come to move from the home, but many virtual service businesses never leave the home office.

More and more entrepreneurs today are operating small but profitable businesses from the comfort and convenience of their own homes. Most home-based businesses start small and provide a second income to a person that works in a traditional workplace. As the business grows and thrives, many are choosing to grow their home businesses and give up the traditional job.

There are some very clear advantages to being able to work from a home office; there are also some drawbacks to consider. Here are a few of the points to consider if a home-based business is in your future:

Pros:

Freedom: When working from home, you can often set the hours you want to work. You can maintain better flexibility when time is needed for children, doctors appointments, and other things you’ve longed to be able to fit into your schedule. This can be a huge advantage for self-motivated people. Lots of productive work can be accomplished after the kids are in bed or very early in the morning.

No Commuting Hassles: No one really enjoys commuting to work, whether they drive, carpool, or take mass transit. Commuting eats into your free time when working in a traditional office. With a home-based business, your commute is only the distance from your bedroom to the room you have set aside for your workspace.

Time Savings: Without the commute, you will save many hours a week that you would be normally in your car.

Tax Benefits: Home businesses often qualify for business dedications when income tax times rolls around. Of course, you’ll need to speak with your tax professional but you’ll likely be surprised at how much you can deducted for your home office and operating expenses, significantly reducing your tax burden.

Low Startup and Operating Costs: There is little overhead with an office space in your home. After all, the room was already there, you just hadn’t defined it as your office previously. You may need to update your computer or add an extra phone line for faxing, but the costs of start-up will be minimal compared with a traditional office. Also, there’s no rental or lease to worry about. You don’t have to own nearly as large a collection of professional clothing when working from home.

Cons:

Discipline: Working from home requires a great deal of self-discipline. It’s very easy to become motivated at first, but over time it is also easy to allow yourself to see all sorts of things that need done around the home and begin procrastinating about business tasks.

Business and Family Overlaps: It’s also very easy to allow your family to interrupt your business time. Just as easy, many people end up spending time working that should have been quality family time. Making a set of clear boundaries is necessary but difficult.

Boundary Issues: It is very easy to “go to work” since it is just around the corner, but it can lead to family problems of another kind.  There is no boundary between home and work and it can become a problem, or a very delicate balance, for the very highly motivated entrepreneur.

Stagnation: Lack of social contact is an issue for some outgoing people who decide to try working from home. It’s also very easy to lose contact with your professional network. This makes it much more difficult to remain on the cutting edge of progress.

Pressure and Stress: While working from home is flexible, it is also easy to work yourself into stressful, pressured situations. You want to please all your clients and generate constant leads. Many people become overwhelmed by trying to do too much. Some set unrealistic goals. They attempt to achieve them while others simply take on too many clients or fail to outsource when necessary.

Image: Depending on your client and customer contact, your company’s image could come into question. Setting up a client meeting at home or Starbuck’s can be less than impressive. There are alternatives such as a virtual office. They are pay-as-you-go subscriptions for office space. You have an official business address with an executive suite operator. You can use their facilities on a “as needed” basis.

Warehouse Rental

Storage warehouses of various sizes are zoned commercial and in most areas can be used as a business location. These warehouse locations are great for the small startup business that manufactures a product, purchases and adds quality to an existing product before sale, and service companies that provide auto repair, computer repair, and similar services.

If your business is the type that does not really benefit from a “flashy” storefront, this can be a great solution for keeping your startup costs very low. Traditionally, people seeking auto repair, auto body work, auto paint, motorcycle accessories or repairs, and similar services tend to believe that if the storefront is too fancy, they will be overcharged. These types of business can actually benefit from the casual office space offered by leasing a storage warehouse. Just make sure the type of business you are starting meets the zoning regulations and the landlord’s lease restrictions.

We’d be happy to help you with finding the right office space alternative. Let us know a little about what you need and we can get to work identifying some options for you. There is no cosst for this service. Give us a try!

 

Do You Have a Great Workplace for Employees?

How good is your workplace?Everyone wants a workplace that is wonderful but why is one workplace great while another is lacking? Is it the leased office space that makes a particular firm productive and profitable? Could it be the specific office furniture or location? None of these things alone make any workplace truly great.

A great workplace is not about the brand of computers, the prestige of the building’s address. Here are six attributes that can work together to allow business owners to create an organization that excites employees, resulting in the reputation of being a great workplace.

6 Attributes of a Great Workplace

  1. Replace Policies with Company Mission: Hiring, motivating and retaining top notch employees if not about policies; those are simply rules. Create a company mission and vision that the team believes in and supports. With passion for a mission based on the CEO’s vision, rather than a bunch of policy statements, cultivates a real team capable of leaping forward with ideas and innovations as well as loyalty and hard work.
  2. Nurture Collaboration: Never stifle team members’ desires to work together, carrying ideas from one area of the business into others. Create a workplace where each group or department is allowed to freely convey ideas to other organizational groups. The pay-off in productivity, amazing leaps forward and trained staff retention is incredible.
  3. Cultivate an Agile Workplace: Today’s office space is not the traditional cubicle or corner office. An office hoteling software application allows easy utilization of much smaller workspaces and allows each member of an organization to work in the style that is best for them. Technology allows the telecommuting or third place team members to only be physically in-office as needed. Work areas that provide desks or standing work counters allow team members to avoid the strain of sitting at a computer immobile for hours at a time. Staying in close contact does not have to mean being in the same conference room any longer. The office space of today is any area where business can conveniently and productively be conducted.
  4. Replace Ownership with Membership: Everyone employee is accountable to their customers and managers but in the past processes were “owned” by an employee, generating office stress and politics as power plays were often used to try to win the ownership role. Instead, remove the territorial nature of office spaces and encourage the concept of being privileged to be a member of a team or teams that create revenue and find ways for the company to save money. It becomes everyone’s process and fosters a sense of belonging and identity in the work environment.
  5. Create a Quality Experience for Employees: It is little surprise that employee retention is low in those workplaces that are dull and uninspiring. Create an office space that team members what to enter into and do work. Strive for a vibrant, magnetic space that draws people in during their in-office work time. This engages employees and they will look forward to the connected, exhilarated feeling obtained when they need to hotel an office space for an hour or a day.
  6. Stay on the Cutting Edge: Today’s fast paced, constantly changing economy allows those companies built on flexible office spaces with strong company values and loyalty to survive,  while others around them fail. As work methods, technological capabilities and mobile computing power speed along, use best practices to stay on the cutting edge. Remember that it’s the people who create value in a knowledge based company; an office is just a space that houses technology where people can come perform productive tasks. .

These are some of the attributes that will help turn your office space into a great workplace for your employees; making them both happier and more productive at the same time.

Furthermore, INC.com reviewed the best in office amenities and policies that were covered in Inc. and on Inc.com.

Here are 10 Tips for Making Employees Love Their Workplace:

  1.        Stay Organized
  2.        Make it Comfortable
  3.        Give Everyone a Say
  4.        Consider Openness
  5.        Make the Workplace a Community
  6.        Focus on Utility
  7.        Make the Office Optional
  8.        Make Education a Priority
  9.        Consider Mixing Uses in a Great Space
  10.        Add Some Perks

Some interesting opinions that we found in Workplace Experience Group on LinkedIn.

One of the keys to a productive workforce is happy employees and a positive workplace not only helps productivity, but also reduces the number of employees leaving.

“Organizations of all types, large and small, for-profit and not-for-profit, from across the U.S. and Canada, are implementing programs and policies that foster employee health and well-being while enhancing organizational performance.”

http://www.phwa.org/ – American Psychological Association – Psychologically Healthy Workplaces

“We have been listening to employees and evaluating employers since 1980 in order to understand what makes a workplace great. We know that the foundation of every great workplace is trust between employees and management. Our employee survey, culture assessment tools, research, and advisory services have made us leaders in helping organizations build high-trust workplaces. “

http://www.greatplacetowork.com/ – Great Place To Work Institute

If you need help finding a great workplace for your business, we’d be happy to help. Let us know what you are looking for and we will get right to work. There is no cost to you for our services. It is FREE.

No Office Tenant Rep? Don’t be Stupid!

It’s time to make that big move, a larger rented office space. This is good news, because it means your business is growing, but it’s a frightening prospect, to take on that much more commitment and responsibility. You know, when you were purchasing the house that you now live, that the services of a realtor were essential to the successful conclusion of the purchasing process. Believe it or not, the same is true when you are seeking an office for rent, and for many of the same reasons and why you need an office tenant rep to help you.

  1. As you know from your own experience with a residential home purchase, there are realtor commissions built into the sale. The same is true with commercial transactions and tenant representatives, which means that it is always worth your time to engage the services of a tenant rep; those services cost you, the renter, nothing extra. It is FREE
  2. Like a home realtor, an office tenant rep has the experience and knowledge to successfully negotiate the varied and complicated processes involved with successfully researching, negotiating and closing on a lease for commercial office space.
  3. An office tenant rep will be able to answer all your questions and help you understand the consequences of the choices that you will need to make during the process. In addition to the obvious questions, such as location, cost and length of lease, there are a number of other factors which need to be considered when renting office space. A good office tenant rep will help you recognize those issues and make the best decisions for your company’s future success.
  4. As with any negotiation, experience and expertise are key to a successful outcome. Tenant reps negotiate on behalf of hundreds of small business owners such as yourself, meaning that they understand all the critical issues and know how to negotiate on your behalf for the best possible outcome.

What does an Office Tenant Rep do?

Let’s hear it directly from them. The following is from our OfficeFinder LinkedIn group discussion on the most important activities Tenant Reps provide their clients in addition to just finding space:

“I believe the top Time & Money saving services that we provide to clients all revolve around the Transfer of Specialized Knowledge to the client, so that they may make the most informed decision. Up to date market information, understanding the players involved, defining and executing the process required for a successful outcome and most importantly, proactive advocacy, each individually represents significant savings for a client.”

“Avoiding mistakes is very important aspect of why tenant representation is so important for office tenants. We do this every day, just like the landlords and listing agents. Tenants only search and negotiate for office space every few years. Landlords and listing agents love to see tenants coming unrepresented. It makes their business much more profitable than when a tenant is represented by experienced and knowledgeable tenant reps…like the ones we have at OfficeFinder!”

“We provide lease digests and early reminders of important dates i.e. rights and renewal options. We also place these dates on an earlier call up internally so that we remind the tenant that they need to be addressing their real estate needs, even if their intent is to renew. We also assist with renewals. In today’s market the lease signed five years ago is most likely far above today’s market rates.

A 10% discount off of today’s asking rate may sound good however, the market may be giving a 25% discount. Only through the use of their own broker can a tenant gain an accurate opinion of today’s market.

Any business who leases office, retail or industrial space expiring within the next 6 to 18 months should be talking with a broker to represent their interests. This not only pertains to renewals subject to negotiation but also pre-stated rent renewals. This is also a good time to negotiate terms and conditions not included in the original lease.

We have a good system in place and when started at the right time in the renewal process, we have been successful in leveraging our position, procuring rent reductions and changes in other terms beneficial to the tenant. We’ve also been able to facilitate early renewals where the tenant benefits from the negotiated terms and conditions sooner than later.”

“There is absolutley no question as a tenant representative we can all save our clients real money in the transaction and “time” money by not only doing things they would have to do but also the fact we know what to look for in the first place.

We might want to consider the money we can save clients by handling non-transactional issues after the lease is signed. Two examples: 1) client is a 501C-3 teaching museum- eligible for property tax relief. Worked with county and LL-client received over $100K in refunds over 12 years. 2)Client located in Enterprise Zone. Another client/accounting firm specializes in that area of tax. Put them together…anticipate over $500K in saving over next 6 years. There’s a lot more we can do than just focus on the transaction. Just my $.02 🙂

So are you ready to take that leap of faith and rent larger office space? Don’t go it alone. Contact us today to engage the free services of a tenant rep for this important step into your company’s future. It is a no lose propositon.

Helpful Tips to Physically Move Your Office

Move Your OfficeSo you just signed the lease for your brand new office space! Congratulations! Now it’s time to move your office.

Where do you start?

Moving your office to a new location can be a daunting task, but with the right guide and a good timeline, you should be able to take things step by step and it will be less painful than you think.

Give Notice to Your Current Landlord

It is crucial that you get in touch with your current landlord about 60 days before you move so as to avoid any additional fees. Your current lease may have a specified date that requires you to give notice, so it is important to double check the lease as well. If not, 60 days will give your current landlord ample time to find new tenants and make a smooth transition. It is important to leave on good terms as you may need them as a reference if you intend to rent elsewhere at a later date. You are also likely going to have to send in a list of damaged items, and 60 days gives you ample time to assign this task to a team.

Double Check Your Move in Date

This may seem like an obvious one, but it is of utmost importance that you double check the date before you schedule movers. Time and time again we have seen scenarios where movers were scheduled and preparations in place only to find out that the current tenant had yet to move out.

Questions About the Big Day

  • While conducting the check for current damaged items, does your landlord need to be there?
  • What is the earliest time I can pick up my keys?
  • Are there limited hours for move in?
  • Is there easy access to the office or will we have to make arrangements for moving supplies up stairs?
  • Do employees need to have parking passes?
  • What utilities will we be responsible for setting up?
  • Are there any important security policies in place you need to be aware of for the move in date?
  • What Utilities will already be in place? (gas, electricity, water, internet, trash?)

Notifying Employees

When it comes to notifying employees, it is important that there is already a rough idea of who will do what to ensure that chaos does not ensue. The best thing to assign one person (typically from the HR department) to oversee the operation and allow them to assign a few other leaders. It is important to not be overly involved in the process and make sure that nobody is being micromanaged. There are too many tasks that need to be completed to have any time for micromanaging.

Hire a Moving Company

Once you have decided on a leader in charge of the move, it is important that he or she gets in touch with a moving company. There are an overwhelming number of office moving companies and it can be tempting to just pick the cheapest quote, but we have a better system for doing this.

  • Check Testimonials and reviews
  • Ask the company if they have done similar jobs
  • Take note of response time and company policies

Here are some important questions about the move

  • Do the proposals describe everything that will be covered?
  • Will any of the work be subcontracted?
  • Can they offer you a fixed fee for the whole move?
  • Are there any hidden charges you are unaware of?

Now you know everything that goes into moving from one office to another. It is important to follow these steps and give yourself ample time to carry out each step so as not to stress yourself or your employees whenit comes time to move your office.

How to Decide on the RIGHT Office Space for Your Business

Deciding on office spaceIt is a big decision. Your office space can have a significant impact on your bottom line. Here are a few ideas on how to make the best choice.

To start, here are the basics that need to be considered:

Location

There are many factors to consider when choosing the right location to set up your office, and much will depend on the type of business you own. Before you look for the right office space, here are some things to consider to help you decide on the right place for your office location.

Cost

It is important to thoroughly research the taxes and regulatory situations in your desired location. What are the sales and income taxes and how might they affect your business? What about regulatory requirements – are they excessive or is this area business-friendly? If you plan to locate your business in the US, you can find out how individual states ranked with the Small Business and Entrepreneurship Council on policy measures and the various costs that impact small businesses.

Your Customers

Your business location needs to be where your customers are and be conveniently located for them. Consider traffic, parking and whether the area invites foot traffic.

Your Employees

Even if your type of business doesn’t require customers to visit your location, you will have employees. Consider where your employees will be coming from, whether there will be a pool of qualified candidates for job openings and whether they will be able to easily commute to your location.

Other Businesses in the Area

Consider what other business including retail and service businesses are in the area. Get a feel for the business climate by visiting a few of the businesses in the area.

The Next Step

Now, you have determined your office location. Next step now is choosing the right office space, whether for rent or purchase, It will have a big impact on how well your business runs. The Better Business Bureau has made 5 specific recommendations to help business owners choose a space that is right for them.

Determine Your Needs

This may sound obvious, but any business owner needs to think about the entire operation, not just the front office. Look at the space in terms of how your customers will see it and how your employees will use it.

  • Will you grow over the course of the lease?
  • Will you need conference rooms, lunch rooms or break rooms?
  • Do you need a reception area?
  • What about storage?
  • Will you have office machines such as large copiers that need space?
  • Where will staff sit?

Assess The Building

It is important to look at the building and other factors. Many commercial buildings will advertise upgrades, but won’t talk about repairs.

  • Ask about what changes may need to be made to the office space itself.
  • Are you allowed to put up walls for new offices as needed?
  • Have there been any recent problems with storm damage or vandalism?
  • Are there any upgrades or renovations planned during the lease?

Noise from renovations can disturb employees and customers so it is important to understand what will happen and when.

Get Professional Help

Utilizing a real estate professional who specializes in office space, an office tenant representative, will reduce the amount of work substantially. A professional will be familiar with a variety of styles of office space around the area. When know what you are looking for and can communicate these needs clearly they will be able to show you properties that meet your needs and help negotiate the best prices for you. There is no charge to you for this service, so it should be a no brainer to acquire the service.

Review The Lease

The final step is to review the lease very carefully before signing anything. Make sure you understand what you are responsible for and what the landlord is responsible for. It is a good idea to have a lawyer review the document.

We can help you choose the right location and office space for your business to operate, contact us.  Whether you are looking to lease or to buy, we can help you find the right office space for your business with our network of nearly 1,000 professionals throughout the US and Canada. Our service will not cost you anything. It is a no lose proposition.

For more information, check out OfficeFinder’s Office Space Checklist.

Mistakes to Avoid When Leasing Office Space

avoid mistakes when leasing office spaceYou have located an exciting new office building. It features flexible workspaces, makes a great first impression on visiting clients and has all the creature comforts and amenities that make this the right office space for your employees. Before you go full steam ahead, learn how to avoid mistakes when leasing office space even some less seasoned brokersin the industry make.

  1. Leasing for today. Unless you specifically go after a short-term lease, look beyond the company’s needs of today. The size of the space that meets your needs right now may not be the right size in six months when you add on a new division and need more staff members. Pending mergers, new product lines, added service menus and market expansions might have you bursting at the seams well in advance of your lease’s expiration.
  2. Pinching pennies. While you cannot afford to tie up too much money in rental expenses, be careful not be penny-wise but pound-foolish. Verify that the rental rate is competitive in the area for the space you are investigating. Next, check out the added amenities the leasing company proposes. Some add parking spaces and access to shared conference rooms. Others do not. A potential deal breaker could be the amount of the tenant build-out allowance.
  3. Going it alone. Granted, you have already located the ideal space. That said, how do you know that there is not another one just like it around the corner? It may not be openly advertised, but an office space expert with industry insider knowledge and connections can point you in the direction of this space. Before you make financial concessions for a great space, when you could come out ahead by opting for a similar office in a nearby building, work with a group of professionals who assist you with locating an office that suits all your needs and delivers on plenty of wants, too.

When you avoid mistakes when leasing office space, you position your company well in a competitive market place. Contact us today to learn more about your options.

How Coworking Office Space Boost Professional Success

coworking office spaceThe advantages that coworking office space has over traditional office spaces for employees or home offices for the self-employed far outweigh countless other options. But why is that? In this post, we will explore a few reasons why coworking office spaces boost professional success and help both individuals and teams thrive in their work.

  1. Greater Networking Opportunities: When a professional occupies a co-working space with other professionals from various industries, it immediately increases their network and their opportunity to make important contacts. For freelancers who spend the bulk of their time working from home or at the local cafe, they have far fewer chances of networking with new people on a daily basis. Coworking spaces have a built-in network of different professionals all ready to meet and grow new alliances and start new projects.
  2. Coworking Boosts Greater Productivity: There was a study done that showed that people who worked out with other people or in public at the gym as opposed to in their home performed much better physically and enjoyed an overall better workout. The same could be said about coworking. When a professional chooses a coworking space over their own home, they immediately minimize distractions such as the temptation to wander over to the fridge every half hour or have the TV playing in the background. When a freelancer is working among other freelancers, they will experience higher levels of focus and productivity.

Want to learn more about the ways that coworking office space boosts professional success? Don’t hesitate to contact us today!

Flexible Workplaces: Just What the Entrepreneur Needs

Flexible workplacesStarting your own business is a bit like “leaving the path during a hike and creating a new trail through the woods,” explained Gearmunk founder and CEO, Erik Boles. “You might come up on an oasis” or you might find a cliff. According to a report in the Colorado Springs Business Journal, Boles is one of about 15 startups and 25 small businesses that has benefitted from the help of Epicentral Coworking, a flexible workplaces company that not only offers investment money to new businesses but also a downtown coworking space in which the company can take root. About seventy percent of new businesses fail, the report notes, and Epicentral’s aim is to give as many new businesses a leg up as possible.

Money isn’t the only issue that startups face, the report explains. Beyond that, it’s a lonely venture in which founders are in urgent need of community support. And that support is what flexible workplaces like coworking space or executive suites can provide. The CEO of Epicentral notes that many of the people working there will contract the services of others there, or even hire them as employees. Five major projects have resulted in the ability of the coworking startups to lend their expertise to each other.

In addition to the help from a community of other small businesses and startups, companies in coworking spaces or executive suites find flexibility in leasing — renting a desk or office space for a few hours a day or for weeks at a time instead of being tied to a long term lease such as a traditional office space would provide. And for some entrepreneurs, that’s just the kind of help that can make the difference between blooming and bombing.

Would you like to know more about flexible workplaces like coworking spaces or executive suites and the impact they can have for new businesses? Contact us.