New Business Minnesota Publication - Finding Your New Office


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Most new businesses start off with a simple home office. The next step, whether to a virtual office or to a commercial space, is closer than you think,especially if you need a place to meet clients other than a coffee shop.

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New Business Minnesota Publication - Finding Your New Office

  1. 1. Startup-Friendly Resource Directory - Pg 20 The Monthly Resource Guide For Startup Businesses January 2010 Your First Office Setting Up Your First Office Is a Critical Move. These Experts Offer Valuable Insights in How to Do It Right: Lori Spiess of VirtualOffiCenters, on the Virtual Office Trend; Zach Mau of Cbeyond, on IP Phone Systems; Steven Ladin of Ladin Ventures, on Commercial Office Space Options; And Carey Sanders of CORT on Office Furniture Strategies. Reprinted with Permission Courtesy of New Business Minnesota ©2010 –
  2. 2. January 2010 2 Office orkspace. nctional, Will Have uccess. e. The next step, whether to you think, especially if you There are more options than Minnesota approached this Your First Office ategies: Lori Spiess of Vir- yond, on IP Phone Systems; Space; And Carey Sanders workshop from 3 to 5 p.m. siness Minnesota will hold ely following the workshop. he Power Your Office Is Your Workspace. Making even created Is Functional, Sure It We have people to manage your mail into our offices more often. of the and correspondence. If you’re waiting for We a whole new Facebook ice. Flexible and Efficient of town, Have you Impact them up to date on events. We a check and are out Will we’ll call An page to keep on Your Success. r Home Office if it doesn’t arrive so you can react. There have Christmas party and holiday parties at is someone at “your” office every day to each location. It’s always busy, full of buzz urces of a Office the Publisher: mail and packages or to help with and positive energy. It’s all about creating From accept er. Most new businesses start off with a simple home office. The next step, whether to a virtual office or to office. A PowerPoint presentations, spreadsheets or a real community for the virtual a com- mercial space, is closer projects. think, especially if you need a place to meet clients other than a be lonely. big than you home office doesn’t have to coffee shop. There are more options than ever before. Adding virtual office capabilities means Virtual offices are aimed at what we call usiness Minnesota To examine this topic for our readers, New Business Minnesota approached this team of experts tohighlyabout you can have a mailbox service, access to gazelle businesses: small, quick, write flex- the latest trends and strategies: Lori Spiess offurnished offices. on theand frugal businesses. This isn’t a stop conference rooms and VirtualOffiCenters, ible Virtual Office; Zach Mau of Cbeyond, on IP Phone Systems; Steven Ladin of Ladin Ventures, on as 30 gap measure untilAnd Carey Sanders of You can even use an office for as little Commercial Office Space; they move into a physical CORT on Office Furniture Strategies. minutes. Your name is listed in the build- office. This is a business and lifestyle choice They will share more information You free interactive workshop from 3is growingon February 11 at the Comfort ing directory. in a can use our location that to 5 p.m. quickly. Inn in Plymouth. New shippingMinnesota will hold its monthly Startup Meetup networking event immediately for Business and receiving. We even have With virtual office options, you won’t following the workshop. curbside mail pickup. Call ahead and we’ll have to be a one-man band. As you grow For more information and to registeras you drive up. Much of your business, keep in mind that you now hand the mail off and RSVP go to this would not have been possible in years have very powerful options to make you past because of technical and financial ob- more responsive to customers, project a ffice with a whole new layer of stacles. larger image, preserve your sanity and le- ces from the traditional office Another reason virtual office plans are verage all the advantages of your home of-
  3. 3. 5 Finding the Right Commercial Real Estate Can Make or Break Your Dream Form a Life-Long Relationship With an Exclusive Tenant Client Advisor and You Will Have an Edge By Steve Ladin transaction, typically there is not any cost to the tenant for this representation. Special to New Business Minnesota Even when you do find the right space on your own or with a broker, you will wonder E very day in the State of Minnesota a if you have negotiated the right price. An multitude of people get laid off, be- Exclusive Tenant Client Advisor will re- come tired of working for someone search properties, arrange showings and as- else, or have a great new idea. In fact, there sure that you lease or buy your property at are on average 44,000 people every year, the best rate. year after year, who start a business in Min- Research has shown that tenants who uti- nesota. lize an Exclusive Tenant Client Advisor can Since you are one of those 44,000 with save as much as 10 percent to 40 percent on a dream of your own, you have many deci- their lease or purchased transactions. sions to make when setting up your office. The relationship you form with your As a commercial real estate broker, every Exclusive Tenant Client Advisor will also day I work with businesses – new and old – assist you in other ways in setting up your that are looking for the right property, in the office. They can offer professional referrals right location, at the right price. for phone service, IT services, furniture, The good news is that the right property office supplies, accounting, legal services, – one that fits your needs and budget – is out insurance, and much more. A good Exclu- there. The bad news is that finding it on your sive Tenant Client Advisor has already built own is extremely difficult and time consum- strong relationships with many value-added ing. comparisons for you or to recommend op- service providers they know and trust. The key to securing the best deal is to tions they don’t represent. You’ve probably heard this a lot since you work with someone who knows the market You are on your own. started your business: work with profession- inside and out, and is cognizant of special Another traditional route is to use a com- als and have a team of trusted advisors. The situations, emerging commercial real estate mercial brokerage firm that represents mul- reason people tell you this, is because it’s trends and the range of deals that are being tiple properties and multiple owners. They true. It’s not any different when it comes to done. Also, just as important, working with bring tenants or buyers to the table and ne- leasing or buying office space. someone who looks out for you and your gotiate a transaction in the best interest of Make sure you have someone in your cor- business needs. the owner. ner… office. That person is an Exclusive Tenant Client Most brokers negotiate from both sides of Advisor. If you are looking for property to the table, claiming to impartially represent Steven Ladin, CEO and owner of Ladin lease or buy for an immediate need or just both an owner and a tenant or buyer in the Ventures, LLC, has extensive real estate ex- planning your budget for a future move, I same transaction. The pressure of retaining perience in the Twin Cities market and has highly recommend you consider using one. major listing arrangements for local and a staff of Exclusive Tenant and Buyer Client The traditional way to find commercial national accounts often influences the out- Advisors. Previously, Ladin was Managing property on your own is to drive around come of transactions within a firm. Partner with Miller Management Company. the area where you’d like your business to Again, you are on your own. Ladin is a member of the real estate indus- call home; spot as many “For Lease” or “For I don’t believe it’s possible to negotiate try’s top professional associations and orga- Sale” signs as you can and write down the from both sides of the table. I believe you nizations including the National Association phone numbers. This is pretty scattershot. are best served by exclusive representation of Realtors Commercial Alliance, Minnesota When you start calling off your list, you – someone who represents you. Association of Realtors, Minneapolis Area most likely will speak to the building owner Finding an Exclusive Tenant Client Advi- Association of Realtors and the Minnesota or the owner’s representative. Their role is sor can save you both time and money. They Commercial Association of Realtors. He can to represent their property. They usually are know business and commercial real estate be reached at not willing to tell you that a building nearby and are skilled negotiation specialists. (763)331-3010 actually might be a better fit. They will analyze your specific business Just remember whose interest they are needs and occupancy requirements, identify Twitter - @LadinVentures looking out for. They will work very hard and evaluate the appropriate options and fa- to get you into the buildings they represent. cilitate your lease or purchase negotiations There isn’t any incentive for them to do price for you. Just like a residential real estate