Reprinted with Permission Courtesy of New Business Minnesota ©2010 – www.newbizminn.com

January 2010

The Monthly Resource Guide For Startup Businesses

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.

Startup-Friendly Resource Directory - Pg 20

Your First Office

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4 January 2010

Your First Office

From the Publisher: 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. There are more options than ever before.

To examine this topic for our readers, New Business Minnesota approached this team of experts to write about the latest trends and strategies: Lori Spiess of Vir-tualOffiCenters, on the Virtual Office; Zach Mau of Cbeyond, on IP Phone Systems; Steven Ladin of Ladin Ventures, on Commercial Office Space; And Carey Sanders of CORT on Office Furniture Strategies.

They will share more information in a free interactive workshop from 3 to 5 p.m. on February 11 at the Comfort Inn in Plymouth. New Business Minnesota will hold its monthly Startup Meetup networking event immediately following the workshop. For more information and to register and RSVP go to www.newstartupmeetup.com.

You are at your home office. Alone. Miles away, your phone is being an-swered by a receptionist, who con-

firms an afternoon meeting in the confer-ence room down the hall, and then signs for a package that was just delivered to your “office.”

Welcome to the world of virtual offices. The only thing missing is for your avatar to make an appearance and confer with the client.

To your business clients, your office is in a big building, complete with printers, copiers, a secretary, conference rooms and a receptionist. To you, your office is in the comfortable confines of your home, unless you need the image, benefits and resources of a physical office.

The virtual office is a fast growing trend every startup business should know about. After all, most new businesses start with a home office. The virtual office is basically a low-cost means of preserving the benefits

of a home office with a whole new layer of support services from the traditional office business center, sometimes referred to as executive suites.

Now we are able to leverage the physi-cal amenities of an executive suite location along with its robust technical and elec-tronic solutions to really counter the weak-nesses of the home office.

Done right, the virtual office cannot only make you more efficient, but many of our clients see a direct impact on their success. It really is amazing to see people blossom and grow in this business model. I often hear people say they didn’t realize there were so many resources and options.

The backbone of virtual office services is live answering. People aren’t impressed by the automated phone tree options. Live answering is having a rebirth that’s very retro right now. It’s also interactive. The re-ceptionist will take messages, answer basic questions and schedule appointments.

We have people to manage your mail and correspondence. If you’re waiting for a check and are out of town, we’ll call you if it doesn’t arrive so you can react. There is someone at “your” office every day to accept mail and packages or to help with PowerPoint presentations, spreadsheets or big projects.

Adding virtual office capabilities means you can have a mailbox service, access to conference rooms and furnished offices. You can even use an office for as little as 30 minutes. Your name is listed in the build-ing directory. You can use our location for shipping and receiving. We even have curbside mail pickup. Call ahead and we’ll hand the mail off as you drive up. Much of this would not have been possible in years past because of technical and financial ob-stacles.

Another reason virtual office plans are catching fire is because they are a great value. You’re looking at a 30-day commit-ment and you only pay for what you need. Today value is a driving factor in any busi-ness decision.

When client comes in from their home office to use our facilities, they find value in being part of the business center envi-ronment. It’s like a community. There is a synergy. You’re at the copier or getting cof-fee and you start talking to another busi-ness owner. You find solutions to problems; someone to bounce ideas off to share leads with. It’s amazing what can happen. You get support as well as referrals.

Interacting with other business profes-sionals has become so important that we are creating Virtual Communities for our clients. We invite them in for free seminars, networking and goal setting. It helps to get them out of their solo environment and

into our offices more often. We even created a whole new Facebook

page to keep them up to date on events. We have Christmas party and holiday parties at each location. It’s always busy, full of buzz and positive energy. It’s all about creating a real community for the virtual office. A home office doesn’t have to be lonely.

Virtual offices are aimed at what we call gazelle businesses: small, quick, highly flex-ible and frugal businesses. This isn’t a stop gap measure until they move into a physical office. This is a business and lifestyle choice that is growing quickly.

With virtual office options, you won’t have to be a one-man band. As you grow your business, keep in mind that you now have very powerful options to make you more responsive to customers, project a larger image, preserve your sanity and le-verage all the advantages of your home of-fice.

Lori Spiess, owner of VirtualOffiCenters as well as OffiCenters in the Minneapolis area, is a long time Office Business Center Professional, who has provided office solu-tions to thousands of small businesses for over 25 years. She is a past president of the Office Business Centers Association Interna-tional and has been a speaker and trainer for the Office Business Center Industry world-wide. Lori has a home in Minnesota and Ar-izona and is a life long advocate of working virtually anywhere under the sun. She can be reached at:

lspiess@officenters.com(612) 373-7070www.virtualofficenters.com. —NBM

Harness the Power of the Virtual Office.Combine Your Home Office with the Resources of a Office Business Center.

By Lori SpiessSpecial to New Business Minnesota

Your Office Is Your Workspace.

Making Sure It Is Functional,

Flexible and Efficient Will Have

An Impact on Your Success.

From the Publisher:Most new businesses start off with a simple home office. The next step, whether to a virtual office or to a com-

mercial space, is closer than you think, especially if you need a place to meet clients other than a coffee shop. There are more options than ever before.To examine this topic for our readers, New Business Minnesota approached this team of experts to write about

the latest trends and strategies: Lori Spiess of VirtualOffiCenters, on the Virtual Office; Zach Mau of Cbeyond, on IP Phone Systems; Steven Ladin of Ladin Ventures, on Commercial Office Space; And Carey Sanders of CORT on Office Furniture Strategies.They will share more information in a free interactive workshop from 3 to 5 p.m. on February 11 at the Comfort

Inn in Plymouth. New Business Minnesota will hold its monthly Startup Meetup networking event immediately following the workshop. For more information and to register and RSVP go to www.newstartupmeetup.com.

Your Office Is Your Workspace. Making Sure It Is Functional,Flexible and Efficient Will Have An Impact on Your Success.

Your First Office

By Steve LadinSpecial to New Business Minnesota

Every day in the State of Minnesota a multitude of people get laid off, be-come tired of working for someone

else, or have a great new idea. In fact, there are on average 44,000 people every year, year after year, who start a business in Min-nesota.

Since you are one of those 44,000 with a dream of your own, you have many deci-sions to make when setting up your office. As a commercial real estate broker, every day I work with businesses – new and old – that are looking for the right property, in the right location, at the right price.

The good news is that the right property – one that fits your needs and budget – is out there. The bad news is that finding it on your own is extremely difficult and time consum-ing.

The key to securing the best deal is to work with someone who knows the market inside and out, and is cognizant of special situations, emerging commercial real estate trends and the range of deals that are being done. Also, just as important, working with someone who looks out for you and your business needs.

That person is an Exclusive Tenant Client Advisor. If you are looking for property to lease or buy for an immediate need or just planning your budget for a future move, I highly recommend you consider using one.

The traditional way to find commercial property on your own is to drive around the area where you’d like your business to call home; spot as many “For Lease” or “For Sale” signs as you can and write down the phone numbers. This is pretty scattershot.

When you start calling off your list, you most likely will speak to the building owner or the owner’s representative. Their role is to represent their property. They usually are not willing to tell you that a building nearby actually might be a better fit.

Just remember whose interest they are looking out for. They will work very hard to get you into the buildings they represent. There isn’t any incentive for them to do price

comparisons for you or to recommend op-tions they don’t represent.

You are on your own.Another traditional route is to use a com-

mercial brokerage firm that represents mul-tiple properties and multiple owners. They bring tenants or buyers to the table and ne-gotiate a transaction in the best interest of the owner.

Most brokers negotiate from both sides of the table, claiming to impartially represent both an owner and a tenant or buyer in the same transaction. The pressure of retaining major listing arrangements for local and national accounts often influences the out-come of transactions within a firm.

Again, you are on your own.I don’t believe it’s possible to negotiate

from both sides of the table. I believe you are best served by exclusive representation – someone who represents you.

Finding an Exclusive Tenant Client Advi-sor can save you both time and money. They know business and commercial real estate and are skilled negotiation specialists.

They will analyze your specific business needs and occupancy requirements, identify and evaluate the appropriate options and fa-cilitate your lease or purchase negotiations for you. Just like a residential real estate

transaction, typically there is not any cost to the tenant for this representation.

Even when you do find the right space on your own or with a broker, you will wonder if you have negotiated the right price. An Exclusive Tenant Client Advisor will re-search properties, arrange showings and as-sure that you lease or buy your property at the best rate.

Research has shown that tenants who uti-lize an Exclusive Tenant Client Advisor can save as much as 10 percent to 40 percent on their lease or purchased transactions.

The relationship you form with your Exclusive Tenant Client Advisor will also assist you in other ways in setting up your office. They can offer professional referrals for phone service, IT services, furniture, office supplies, accounting, legal services, insurance, and much more. A good Exclu-sive Tenant Client Advisor has already built strong relationships with many value-added service providers they know and trust.

You’ve probably heard this a lot since you started your business: work with profession-als and have a team of trusted advisors. The reason people tell you this, is because it’s true. It’s not any different when it comes to leasing or buying office space.

Make sure you have someone in your cor-ner… office.

Steven Ladin, CEO and owner of Ladin Ventures, LLC, has extensive real estate ex-perience in the Twin Cities market and has a staff of Exclusive Tenant and Buyer Client Advisors. Previously, Ladin was Managing Partner with Miller Management Company. Ladin is a member of the real estate indus-try’s top professional associations and orga-nizations including the National Association of Realtors Commercial Alliance, Minnesota Association of Realtors, Minneapolis Area Association of Realtors and the Minnesota Commercial Association of Realtors. He can be reached at

(763)331-3010sladin@ladinventures.comTwitter - @LadinVentureswww.LadinVentures.com

Finding the Right Commercial Real Estate Can Make or Break Your DreamForm a Life-Long Relationship With an Exclusive Tenant

Client Advisor and You Will Have an Edge

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