If you are the type of entrepreneur I call a Growth Maven, then you want fast growth and long-term success for your operation. You want customers to recognize your name and your products and services. You want to develop your brand and have a constant line of communication open between you and your clients.
Take the first steps to building your empire-for you this means move into your first “real” office and bring on some staff. But you want to manage it so that the big leap doesn’t drain your time, money, and resources.
First, stay away from real estate agents and most landlords. They don’t have your company’s best interest at heart – no matter what they say. A traditional lease in traditional office space is not what your fledgling company needs in order to grow.
Here are two solid arguments to avoid even relatively short-term leases, much less 3-5 year contracts.
1. New businesses often don’t make enough revenues to cover their expenses in a cash flow crunch
Renting an executive suite is often the simplest solution. They are classy, fully equipped, and ready to move into. With many other small businesses housed in the same facility, networking with other entrepreneurs becomes a daily event. Most real estate brokers won’t even bother to mention this option to you because in most cases the commission from these deals is not large enough to justify their time and effort.. Other options, depending on your type of business, might be to sublet space or share space with a larger company.
Moving in is painless and fast because your executive suite is fully equipped, furnished, and ready to go. It has a high-speed Internet connection, phone systems, fully functional conference rooms, and very often a receptionist to handle your phone calls.
If you aren’t yet familiar with executive suite companies, their office buildings for rent are typically well located. They tend to be first class, prestigious, and in the heart of the business district. The company then subdivides the building into a large number of office spaces for rent to individual entrepreneurs and small businesses. These individual spaces vary in size from about 100 square feet-a one-person office-to several hundred square feet-good for up to five people or more.
Executive suites are the ideal place for “image” entrepreneurs. These are the folks who know that having a first class professional appearance will help build their business. They know that their clients want to invest in and work with winners. Looks count. These business owners realize that perception is reality-you are only as big and solid as you look. They want to work with the big fish clients and compete against companies many times their size. And this is how they can.
Picture your prospective clients entering your gorgeous office, where they are greeted by a friendly receptionist and given coffee while they wait in comfy chairs. Then picture these prospective clients being wowed by your state-of-the-art-enabled presentation and the videoconferencing you did with your partner in halfway around the world.
A big improvement from that last presentation in your basement when your clients noticed your wet bra hanging off the TV set, right? If you agree, then it’s time to get going.
By Pexels from Pixabay