The Essential Components of a Business Growth Roadmap

How do you take your business to the next level?

If you’re hoping to figure it out as you go along or, worse, blindly expanding on ambition alone, you’re going to have a hard time. And it’s going to take forever to see positive results.

That’s why you need a roadmap to follow.

Like using Google Maps to guide road trips, your business roadmap will help your company grow in the shortest amount of time by taking the most efficient routes.

Working without one is like driving blindfolded in a foreign country.

How will you know how to budget for and allocate resources your company needs to operate and grow? Will your growth be aligned with your company’s vision? How will you get everyone focused on the same goal?

To keep your brand on the path to success — and to minimize the risk of expansion — you have to design a business growth roadmap everyone can get on board with.

Today we’ll cover the essential components of a business growth roadmap to help you create one for your company ASAP.

Grab this free growth roadmap template for your business. Download and customize it for your company now!

Truth: Your Business Needed a Growth Roadmap Yesterday

When’s the right time to expand?

It’s a question that haunts businesses in their infancy and well into their thriving success. So what separates companies that seamlessly grow from those struggling and failing?

Planning.

Large companies need a plan to unify all their separate departments under the same growth umbrella. When everyone knows the destination, it’s easier to caravan together on the path to achieving the same goal.

Small businesses often backburner growth strategies because they’re so bogged down in the day-to-day operations. This crucial mistake may keep you from reaching your full potential.

That’s why all companies need to set aside time to discuss their vision, write down their goals, and create a plan to achieve them.

Then, you and your crew will be able to take actionable steps in the right direction to grow strategically.

“If you decide not to grow, you may be paving a path to failure,” Patrick Latour, Senior Vice President of Growth and Transition Capital at BDC Capital, tells the BDC blog. “If you don’t grow, your competitors will, and that will put pressure on you.”

Here’s what you need to stay ahead:

The 9 Landmarks of Your Business Growth Roadmap

Your business roadmap should be able to fit on one page. That will not only make it easy to read, understand, and follow, it will force you to be direct with your goals and directions.

Every businesses’ needs are different, but every strategic growth plan should include the following 9 steps on the path to your expansion:

1. Your Mission Statement

Your Mission Statement is the declaration of why your company exists.

It explains the purpose of your business and addresses not only what you want to do for your customers, but how you plan to deliver.

You probably already have a Mission Statement, and that’s fantastic.

Your Mission Statement should:

  • Outline how your brand solves problems for customers
  • Clearly present the products/services you offer in your market/niche
  • Describe what makes you different from other companies
  • Be no more than one or two sentences—max

    Keeping your Mission Statement in the forefront of your employees’ minds reminds everyone why they’re hustling so hard.

2. Your Vision Statement

Similar to your Mission Statement, your Vision Statement is a short summary of your company’s future goals.

What do you want your company to achieve in five years? Ten years? 20 years down the road?

Add a one-sentence description of where you see your company and let it guide and inspire everyone on your team to move in that direction.

3. Your Company’s Core Principles (aka a Values Statement)

Your company operates under unique guiding principles that shape your business’ core beliefs. These values enticed your employees to work for you and matter to your customers (and investors).

As such, your guiding principles will probably never change. They’re part of your founding values, but you can also use them moving forward in your strategic development.

Add these principles to your roadmap to recall the passion that inspired your company to start doing what they do best.

4. SWOT (Strengths, Weaknesses, Opportunities, & Threats)

If you want to be the best, you have to admit you’re not perfect. And then take every step you can to improve.

By assessing your company objectively through a SWOT analysis, you’ll be able to understand your internal strengths and weaknesses; capitalize on opportunities you may be missing; and prepare for threats that pose a risk to your company’s growth.

growth_planning

Gathering this information will give you intel to proceed in the most profitable direction. So collect your data and asses your current place in your market to brainstorm about how you think you can do better.

5. Find Your Competitive Advantage

The biggest marketing flaw in most companies is their failure to fully reap the benefits of their competitive advantages,” author Jaynie Smith tells the American Management Association.

Smith continues:

“Either [companies] think they have a competitive advantage but don’t. Or they have one and don’t even realize it. Or they know they have a strong competitive advantage but fail to promote it adequately to their customers and prospects.”

All these reasons make it a must to highlight why your company beats the competition.

When you start with these advantages (which may not be as strong as you initially thought), you and your team will be able to find ways to either make the most of these perks to set your company apart for your customers or rethink them entirely.

6. List Your Short and Long Term Objectives

It’s a good idea to plot short and long term objectives, or measurable goals, on your growth roadmap to create a deadline and a sense of urgency.

Aim to complete your short term objectives within a year or two; long term objectives could be projected three years out or longer.

When creating your roadmap, it’s important to be very specific about your goals. Vague objectives like “increase profits” or “expand social media presence” do little to give you actual direction.

Instead, you’ll want to outline the specifics you want your initiatives to take: the what, how, and when of your goals.

These objectives will give your employees an idea of where you plan to take your company. It tells investors you’re working hard to grow profits. And it sets up all the work that needs to get done.

For example, if you want to expand to new territories, a short term goal would be finding fully-furnished temporary office rentals in three hot markets by the end of the quarter. Your long term objective would be committing to a lease and establishing roots later down the road.

Short and long term objectives should work together to keep momentum strong on your way to achieving your goals.

7. Strategies to Accomplish Your Objectives

Now that you have your goals on paper, it’s time to figure out how to make them happen.

Your roadmap doesn’t need a detailed plan of attack, but you’ll need to explain the general strategies and tactics you plan to use (or want your team to follow through with).

teamwork

Ask yourself: What’s it going to take to make our vision a reality? What are the specific steps we need to complete?

This is where you transform the intangible ideas and goals into real directives you and your team can start executing.

8. Outline the Resources and Financial Means to Accomplish Your Goals

You don’t want to divert money to achieving your directives if it means you’ll be leaving another area of your company in the red.

When you take inventory of all the resources and budgets you have allocated for other parts of your business, you’ll have a better idea of what you can spare and devote to growing.

For example, if you know you historically see a huge profit in Q3, you can plan to direct some of that excess to completing an objective in Q4.

9. Determine How You’ll Measure Key Performance Indicators (KPI)

Each of your objectives should be easily measurable so you can track the effort you and your team put forth.

Determine how you’ll be tracking KPIs for your goals and then set monthly (or weekly, quarterly, etc.) targets for reaching them.

If you want to increase your social media outreach, for instance, you may set quotas for new followers, shares, or brand interactions for each of your social media platforms.

Keep checking in with your team to evaluate if your strategies need tweaking based on the data returning from your tracking.

A Well-Written Business Growth Roadmap Helps Your Business in More Ways than One

Just like your initial business proposals led to the founding of your awesome venture, let your business growth plan define your company moving forward.

Explaining how you see your company expanding will help your team work hard to achieve your shared vision. It also inspires investors to fund your progress.

Focusing your efforts also benefits your clients, who will undoubtedly see the unique value your company brings to the table. The more happy customers you have, the easier growth will be.

Customize this free business roadmap template using today’s tips! Download it now and get to work:

7 Effective Ways to Streamline Your Business

You’re burning the midnight oil and sipping your first coffee with the sunrise.

You have a game plan to grow your business and you’re working nonstop to make good on those promises.

But the work never stops.

You can’t focus on the more important aspects of your business because you’re constantly bogged down in mundane tasks just to keep it running. Fortunately, there’s a better way.

Streamlining your business takes all the headache out of the day-to-day operations of managing your business so you can work on your business.

Plus, automating certain procedures helps your company become more cost effective.

When there’s only one way of doing something, you’ll find less confusion, fewer mistakes, and almost zero delays in getting the work done.

So stick with us today as we cover 7 of the most effective ways to streamline your business.

Follow through on these tips and you’ll have more time to work on what really matters. And maybe sleep for more than three hours (no promises).

Should you spend time on that task or outsource it? Download this free checklist of signs to help you know the way. Click here!

1. Consolidate All Your Information in One Place

Social media stats on multiple sites, website analytics in another, financial records somewhere else—it’s hard to grasp the big picture of your business when your data is scattered like a trail of breadcrumbs across the internet.
Instead of logging in and out of all your different sites to monitor your numbers, consider using an all-in-one business dashboard to track all your metrics in one secure place.

Companies crushing this space include:

Taking advantage of software like this will give you individual dashboards in your command center to monitor everything from your social media and marketing efforts to your sales, IT, and financial stats.

Centralize your business metrics and you’ll save countless hours clicking around and compiling this intel on your own.

2. Get Your Team on the Same Page

Just like it can be frustrating tracking down your facts and figures, staying in communication with your employees can also turn into a super time-waster.

One employee prefers text messages, another’s constantly emailing to stay in the loop, and your devices are buzzing with notifications from 15 different messaging apps.

colleagues-having-business-meeting

Simplify the lines of communication by adopting one form of maintaining contact.

With so many different apps and messaging services, touching base with your teammates has never been easier, whether you have remote employees or an in-house crew.

Using a communication tool will also cut down on the amount of emails, text messages, and other notifications you receive (#win).

Consider distractions a hassle of the past when you get everyone on board with one of these services:

Bonus: You can also share files, collaborate, and archive all communication for referencing with these services.

3. Set Up Standard Processes and Make then Accessible

You and your business follow certain procedures every day, whether you’re paying attention to your routine or not.

It may be a specific ritual you perform before you start your sales calls or the exact steps you take to ensure an invoice gets paid—we’re creatures of habit who do well with structure.

So set yourself (and your team) up with concrete processes and make them readily available when anyone needs them.

For example, let’s say you figured out a way to conduct market research without wasting half the day.

Instead of keeping that process all to yourself, create a document outlining your steps and upload it to your shared folder. It also helps to create templates to save yourself hours of repetitive work (think: standard email responses for new leads).

Manage your processes by enlisting the help of online project management software and apps designed to give your team a visual list of tasks to be accomplished, such as:

You can task other employees with these projects and rest assured knowing they’ll be done to your liking, as long as employees follow your procedure.

Outlining processes like this also cuts down on questions, hesitation, and unproductive time figuring out the best course of action. Instead of scratching your head wondering what to do, you’ll have all the steps outlined so you can take charge.

Block out one day a month to work on establishing your businesses’ core processes, or those you handle on a regular basis.

As your business grows, update these processes to run at optimal efficiency and discard unnecessary steps you’ve evolved from.

4. Automate Workflows with Web Automation

Web automation services connect all of your most-used apps so you can create workflows based on specific triggering events.

I.e., “When this happens in app A, I want this other action to happen in app B.”

Common automatic workflows for business owners include:

  • Saving Gmail attachments directly to Dropbox
  • Archiving @mentions from Twitter to a Google spreadsheet
  • Syncing starred emails to Evernote

The beauty of these services is that they’re totally customizable and geared to save you time and money.

Spend time researching the functions of these top workflow automation companies to see what they may offer your business:

5. Talk About What’s Not Working

While all these processes should help your business increase efficiency, you’ll need to take a step back and evaluate what’s truly working.

Get into the habit of objectively auditing your procedures every month.
Find out what’s helping, what needs tweaking, and what should be scrapped entirely.

You can opt to hire an outside consulting agency, but oftentimes you’ll glean more useful feedback from your employees in the trenches.

balloon-dialogue-discussion-communicate-message

Your teammates know exactly what slows them down and may even offer up solutions to increase productivity using programs you may not be aware of.

The faster you adopt more efficient procedures, the more you’ll get out of your employees.

6. Stop Multitasking and Start Monotasking

Even though you may feel more productive knocking out several of your to-do list tasks at the same time, research shows that multitasking is not only terrible for your productivity, it may even negatively impact your brain in the long run.

One study found that participants distracted for less than three seconds doubled the number of errors they made during an assigned task; those with interruptions averaging four seconds tripled their mistakes.

Multitasking causes us to perform at a much lower cognitive level because we’re less concentrated on the task at hand.

This costs companies up to 40% in lost productivity from their employees—or almost 16 hours a week!

So to streamline your workload, learn how to focus on one task (and coax your work crew to do the same).

As Cal Newport, author and professor at Georgetown University, told Fast Company:

“High-quality work produced is a function of two things—the amount of time you spend on the work and the intensity of your focus during this time. If you can increase your focus, you’ll get more done in less time.”

Set specific goals to complete one task at a time—uninterrupted—before moving on to others (like checking your emails or Twitter feed).

7. Consider Outsourcing Tasks

Outsourcing helps your business cut costs while giving you access to experienced talent from all over the world.

The key to outsourcing is knowing when to let go of certain jobs to outside agents and when to keep these tasks in-house.

Generally, time-consuming tasks like accounting, payroll, and IT services can be outsourced to free up your time so you can work on more profitable areas of your business.

Similarly, if you’re looking for highly-specialized talent—like a graphic designer or content writer—it may be more affordable to hire them occasionally for projects instead of keeping them on your payroll.

As Benji Hyam, cofounder of Grow and Convert and Wordable, was quoted:
“There isn’t time to learn how to be an expert in every area of the business. Play to your strengths and specialize in one to two areas that you can do better than anyone else – then offload the things you aren’t good at to fill your gaps.”

Thanks to online freelance marketplaces like Upwork and Guru, it’s never been a better time to hire remotely.

Get Your Business Lean and Streamlined

You’ll need to let go of these draining tasks for your business to grow.
When you automate routine chores and establish procedures for your employees to follow, your business will run like a well-oiled machine.

You and your team will be more efficient, more productive, and generate higher profits.

And then you’ll need to expand to hassle-free office spaces to grow your business to the next level.

Outsource that task or keep it in-house? Download this free checklist of signs to help you decide ASAP. Click here!

How Physical Office Space Can Grow Your Business

The mark of a business owner and entrepreneur is hours spent every day obsessing over the growth of your business.

There are plenty of ways to do that. More sales, obviously. Reduce costs, for sure. You might change your marketing message to attract new customers, move into a new vertical to capture a certain type of business, or develop a strategic partnership with another company. Hey, you might even pivot to a completely new industry! Those are all great, measurable tactics.

But it’s important to consider the unmeasurables: the little improvements to your business that can’t be quantified, but have an undeniable effect on your productivity and success.

Many businesses categorize office space as an expense. Well, as far as your accountant is concerned, an office is an expense, but you shouldn’t look at it that way from a strategic point of view.

Consider office space an investment. It’s not just a sign of growth. It can also be a cause.

Download our free resource: Why You Need a Physical Place for Your Clients and Customers to Visit

Interaction and Collaboration are Easier in Person

office-space-collaboration

We live in a world where communication is easy. You probably rely on tools like email, Slack, Skype or Trello to work with your team. There’s no doubt they give businesses plenty of flexibility. You can hire talent in another country and stay productive during travel or inclement weather.

But online tools aren’t perfect. There’s always something missing: The human element.
Collaborating with your team is far easier when everyone is in the same room. A majority of information is lost when we are forced to communicate through text or voice-only.

In 1971, psychologist Albert Mehrabian concluded that a significant component of all communication is nonverbal – especially pertaining to emotions. Mehrabian estimated that verbal communication only accounts for 7% of the information we’re trying to share when we communicate our feelings. Trying to pass emotion through your Slack channel is virtually impossible, no matter how adept you are with emojis. 🙂

“The beauty of communication is found in the nuance that’s only felt in face-to-face conversations,” says Mina Chang, CEO of humanitarian group Linking the World International. A lack of in-person communication can be damaging, she says, as team members “miss out on the reasoning behind decisions, making them less likely to engage. What’s more, it’s easier for them to feel less accountable. When making any kind of request, the probability of getting your desired answer is greater when you have a face-to-face meeting.”

According to a Cisco report, business leaders believe that in-person collaboration resolves conflicts (work and personal) and generates relationships for long-term success. Executives say that face-to-face meetings are important for project kick-offs, strategy sessions, coaching, crisis management, and contract agreements. (Check out this information for more on the study: The Power of In-Person.)

There’s no argument that the most effective teams are made of people who know each other well; people who spend a lot of time with one another. You and your team need to be emotionally invested in your company’s mission. That type of dedication requires solid relationships that just won’t form on Skype or Google Hangouts.

Plus, in-person communication is faster. Email and chat isn’t truly instant, and they’re both easy to ignore. A question across the table or check-in at the watercooler will keep your business moving.

Office Space Makes You Seem “Bigger”

office-makes-company-bigger

Perception is everything, right? Your clients and customers want to partner with a business, not one guy working out of his spare bedroom or a remote team that only meets monthly at a Starbucks.

Every business tells a few white lies to make the company seem bigger than it really is. You probably referred to your company as “we” and “the team” when you were still a solo founder. Or maybe you excused yourself for “a big meeting” when there was no such item on your schedule. A lot of small companies even pay for a post office box just so mail isn’t sent to someone’s home address.

There is a percentage of customers who are comforted by the perception of size. Their anxiety is alleviated by the success of their partners. They want somewhere to visit. They want to see your name on something – a sign, a door, anything!

B2B strategy and marketing consultant Lisa Shepherd says, “Risk-averse buyers regard size and an established market presence as bywords for credibility and reliability.”

An office makes your clients feel stable, like they have put their trust in the right place. A business who has gone through the trouble of setting up their own place in the world is less likely to run away with their money. You could have millions of dollars in the bank and a library of intellectual property, but some people just won’t do business with you unless you have an office.

Furthermore, office space improves your employees’ perception of the company. An office is grounded. It makes the business tangible. They can say “Here is where I work.” When they step into their new office space for the first time, they’ll have a real understanding of how well the business is growing and a desire to keep themselves a part of it.

If you’re looking for more ways to make your small business seem bigger, check out Secret Entourage’s list: 50 Tips To Make Your Small Business Look Bigger.

Networking is No Joke

office-networking

Have you ever wondered why similar businesses group together? Why is Silicon Valley a tech haven? Why do financial firms clamor for space on Wall Street?

It’s because we prefer to do business with people we know. We’ll even pay a premium to give business to our friends or someone proven.

John Swanciger, CEO of Manta (a small business advocate organization), says “New and aspiring business owners need to network to gather as much information about prospects, competitors and the industries they are targeting in order to make the strategic decisions that will set them up for success.”

Conferences and trade shows only take you so far. If you want to really meet the right people, you need to plant yourself in the midst of complementary businesses.

Don’t get me wrong – I’m not saying you should move to the hotspot in your industry. That might be many states away and unfeasible. However, many parts of the country have business districts where you’ll find like-minded entrepreneurs who also want to grow their business.

You may not be within driving distance of your industry’s titans, but maybe the accountant down the hall will trade advice for lunch. Maybe you’ll hire the marketing agency upstairs, or merge with the development firm across the street. Introduce yourself in the area, make friends, and always steer the conversation towards what you do.

The possibilities are endless, you just need to meet people. You can’t do that from your home office.

Oh, but make sure you investigate the area well when you view potential office environments. Find out who works nearby and how they might help you in the future.

Download our free resource to learn why you need a physical location for your clients and customers.

Over to You

Like I said before, office space boosts the unmeasurables. You can’t drop them into an equation, but an office makes your business credible, reliable and successful. Those feelings will resonate with other people (even subconsciously) to empower your business.

So what’s holding you back? Start your office space search today.

The Briefcase Replacement: A Low Down

These days fashion is synonymous with office culture. Does your getup match your furnished office?

Maybe you need to take a harder look. Sick of throwing on that backpack every morning? Perhaps you wish you had something more sophisticated to tote on the subway on the way to work. With the evolution of technology comes the evolution of fashion. At Turnkey Office Space we’ve synthesized a list of the best designed bags that look great in any environment but especially thrive in the office. Check ‘em out!

Tubo Rayado Duffle by Mafia (Starts at $99) Mafia is Paz and Marcos Mafia, a brother and sister team from Argentina. Marcos is a kitesurfer and Paz was a banker, the two merged their passions for sustainable product design and watersports to create Mafia, a company that produces a variety of bags made from recycled sails. Mafia works with Argentina and San Francisco-based NGOs to sew and produce the bags. They’re in the midst of their Kickstarter campaign to raise money to expand their San Francisco production shop. Our favorite is the Tubo Rayado Duffle, not only does it have a special, secure space for your laptop but its size allows it to double as a weekend and travel bag.

Waxed-Canvas Weekender by L.L.Bean. ($179) This is the perfect bag for both flying and regular ground commuting. It’s timeless beige and tan color palette with leather trim gives the owner a glow of sophistication and business credibility. There’s an option to add monogramming, but we don’t recommend that because its look is so unique that it’s difficult for anybody to forget that it belongs to you.

WWII Bags by Temple ($250-650) Does your office need a history lesson? Maybe your executive suite needs more of a ‘general officer’ feel? These duffel bags from Temple will give your workspace that regal presence its been lacking. Each bag is uniquely made from authentic World War II field wool blankets, bags and camp packs. Although the price is a little steep, knowing that your bag has survived an epic 6 year battle is pretty much worth it.

Ultra Light Cargo Duffel by Brics ($200). Teddy Minford, an editor at Fodors tested this light and breathable duffel and said, “The size was great for packing the necessities and still being able to navigate crowded subways and trains, and I actually felt quite fashionable with it.” This bag will brighten up your desk or workstation, and it also fits great in overhead bins on airplanes.

On A Mission For The Best Money Exchange App

Smartphone-Apps

Last weekend, Nicola went camping in the Berkshires with a group of ten of her friends.

Someone bought groceries, a couple others drove, and another one paid for the campsite. Instead of engaging in an awkward conversation about who-owes-who-what, writing checks, and making ATM stops, Nicola’s friends “charged” her and the others whatever amounts they owed through a money transfer app called Venmo.

It’s programs like Venmo, PayPal, Square Cash, and Google Wallet that have quickly become the norm for casual payments. Instead of asking a friend to “spot you”, we’re now whipping out our phones and opening up a virtual wallet app. In 2013, there were $235 billion of transactions made through online payment systems. Gartner technology analysts estimate that there will be $720 billion of transactions through money sharing programs by 2017.

With news of the iPhone 6 featuring the Apple Wallet, an app that is partnering with Visa, Mastercard, and American Express to allow its user to make retail purchases with just the stroke of a finger, we at Turnkey Office Space have decided to evaluate our favorite money exchanging apps.

PayPal. For being the oldest payment service on the block, PayPal certainly spends a lot of time on the sidelines. Probably because the program is mostly associated with business transactions and its 2.9% +$0.30 fee it charges its pay-ers. As of late, the company has been stepping up its retail game. Over the last several months, PayPal has been partnering with eateries and small business and offering their customers discounts on their products if they pay using the app. It’s also the only service of the 4 available for Windows Phone.

Square Cash. This is the only money-exchanging app that requires only the pay-er to have an account. Square Cash and Venmo are the only programs that don’t have a service fee for debit card payments.

Google Wallet. Perhaps the most fickle of the four, Google Wallet is attached to your Gmail address and requires answering several security questions. Wallet lets you pay with credit card, which Square and Venmo don’t, but it charges 2.9% for every debit or credit card transaction.

Venmo. A Twitter-esque social media feed and check cashing center is how Venmo defines itself. When signing up, the service gives you the option to link up your Facebook profile and add “friends”. You also have the option to make your transactions public or for “friends only”, so others can check out and “like” your transactions.

Turnkey Office Space Releases Statement on High Growth Industries in 2014

As a leading countrywide online search service for businesses in need of office space, Turnkey Office Space recently released a statement commenting on the supply and demand of office space for High Growth Industries in New York City.

Turnkey Office Space, an office space search service, recently released a statement commenting on the need for open-plan, collaborative, Class B and C office spaces in New York City for High Growth Industries (HGIs). Company executives believe that due to a booming first quarter economy in New York City, the predicted growth of HGIs will indeed occur.

According to a May 28, 2014 Staten Island Live article titled, “New York City economy thriving, city comptroller says,” by Maura Grunlund, the highest number of New Yorkers are currently employed since 2000, leading to a “booming commercial real estate market.”
Co-founder Jonathan Bachrach believes that this recently reported growth is moving at a much faster pace than expected. “When the
‘Commercial Real Estate Competitiveness Study’ was released by late last year there was a prediction of business growth but, we never expected to see growth like this. With New York City’s economy growing faster economically than the nation’s, there is real concern for the HGI commercial real estate space.”

Bachrach, who is referencing a past December 2013 study titled, “Commercial Real Estate Competitiveness Study”, prepared by Alvarez & Marsal Real Estate Advisory Services and JRT Realty Group, Inc. for the New York City Economic Development Corporation, believes HGIs will represent the majority of growth for office space in major cities such as New York over the next 10 years. With the first quarter reports, he sees the results of this study being significantly accelerated.

According to the study, HGIs are broken up into 7 sectors: Healthcare, Education, Technology, Advertising, Business Services, Consulting, Non-Profit, and R&D. These sectors are projected to account for 60% of growth in total office space demand between 2013 and 2025.

Bachrach believes that with this recently reported first quarter growth, the demand for Class B and C office space will increase quicker than expected. “A lot of High Growth and tech firms are still in the early stages of their growth and are thus preferring class B and C spaces as opposed to higher end office space typically used by the Finance, Legal Services and Accounting sectors,” exclaimed Bachrach. “A company in a growing industry is not going to plunge straight into the best building in the area. Think about tech start-up companies; they are actively growing, but still have a certain level of risk.”

The study also found that New York City could experience a demand-supply gap in the future as real estate developers may decide to build more residential buildings over commercial buildings due to more favorable returns. While the industry has not yet reported this after first quarter, Bachrach believes that this, along with the financial status of most HGIs, will lead to a shift in what the traditional office space looks like.

To compete for top millennial talent, companies are also changing their mindset on what the office looks like, according to a November 10, 2013 article by the New York Times titled, “Embracing the Millennials’ Mind-Set at Work.” HGIs are meeting the demands of millennial workers by building out these class B and C workspaces to offer more collaboration.

“Open-plan, collaborative build-outs are increasingly becoming the norm for high growth startups and tech firms,” said Bachrach. “Since these industries are projected to represent the majority of growth in demand for office space in the future, the tendency toward the collaborative, co-working-type build-out is likely to continue.”

About Turnkey Office Space: Turnkey Office Space is a countrywide search and consulting services for companies seeking office space. They specialize in office suites, virtual offices, and co-working spaces. Turnkey can be reached via their websitehttps://www.turnkeyofficespace.com and by phone at 1-888-282-8555.

If Management Frameworks Were TV Shows…

Management Frameworks are decisive ways to boost employee moral, designate raises and develop and maintain hierarchy.

However, they’re not the most cut-and-dry systems. We at Turnkey Office Space have come up with an easy way to understand these complex ideologies. TV shows! Every company has its own particular set of expectations and cast of characters, and the same goes for sitcoms and dramas. Check out our list below!

Stack Rankings = The Bachelor

Microsoft employees took a deep sigh of relief last fall when the software magnate decided to do away with its employee-review and compensation system colloquially known as “stack ranking”. Since the 80s, Microsoft had practicing a method of pitting employees against each other and numerically grading workers’ performances. However, the system was more like highway cops trying to make their ticket quota. It required managers to collectively label a minimum of 100,000 employees as “underperformers”. The system left employees feeling belittled and unrecognized. If only Law and Order had a “Speeding Tickets” series. We’ve decided that this management framework’s prime-time counterpart is The Bachelor. Just like “stack ranking”, contestants are pitted against each other and manipulated into thinking they’ll never be good enough for a rose.

Holacracy = The Brady Bunch

Holacracy is taking over companies small and big worldwide. The concept was conceived by Hungarian-British writer, Arthur Koestler in 1967. It’s a democratic, insular management strategy that governs employees with tasks rather than authoritative figures. Workers are arranged into “circles” based on their skill sets, and every employee is selected to be in either a higher circle or a lower circle. The higher circle sets the expectations for the lower circle and thusly evaluates its performance. Circles are run autonomously without managers or supervisors and everyone makes decisions collectively. Primarily smaller corporations have found success with Holacracy, specifically Zappos being the most recent and biggest convert. Other notable companies that have hopped on the Holacratic bandwagon are Mashable, Moveline and Conscious Brands. Due to their size, it’s doubtful that mega-tech companies like Google or Facebook will ever adopt the new-age framework, but there’s no telling for sure. Holacracy’s big-family-hug nature speaks adeptly to The Brady Bunch’s tight-knit camaraderie. Carol and Mike Brady and Alice are the higher circle, while Greg, Marcia, Peter, Jan, Bobby and Cindy are the lower circle. Both circles are open and honest with each other, and despite the arguments and rivalries, they value respect and family above all.

Virtual Office Space Helps Broaden Company’s Reach

A leader in helping companies find office space, Turnkey Office Space, released a recent statement asserting that virtual offices are becoming a trend for companies who want to increase their exposure without establishing a permanent office location in a city.

Turnkey Office Space, a leading countrywide online search service for businesses in need of office space, recently released a statement about the growing popularity of utilizing virtual office space to help businesses broaden their customer reach.

Virtual offices offer companies professional business services without having to pay for the overhead costs of a permanent office location. Often utilized by start-up or growing companies because they are considerably cheaper than permanent locations, virtual offices help expand a company’s corporate identity. Companies that already have an office in one city but perhaps want to expand their presence into another also benefit from this strategy.

Co-founder Jonathan Bachrach believes appearance can be crucial when establishing trust with customers, vendors and industry peers. By giving the appearance of having a broad national reach, companies may find it easier to expand their customer base and to establish that level of trust that is so crucial for startups from the outset.

Virtual office packages include services and amenities such as a professional mailing address at a prestigious location with mail-forwarding; professional reception services to answer calls, send faxes, make copies, and schedule meetings; and access to day offices or meeting rooms a few days per month.

“Startups need all the leverage they can get,” said Bachrach. “Virtual offices help give new companies the presence they need at low, cost-effective rates. Associating your company with a Park Avenue or Beverly Hills address and having a receptionist answer your calls can be a great way to start getting noticed. Having multiple virtual offices in different cities is a great, cost-effective way to accomplish this.”

According to a recent March 5, 2014 article by News and Features Editor Jo Disney of Officing Today titled “So How Do you Run a Virtual Office, Anyway?” virtual offices are also ideal for anyone who wants to protect their home address. Plus, with the increase in digital office experience as technology continues to become more sophisticated, day-to-day communication, document sharing, presentations and keeping track of a team are all easily achieved virtually.

“The 21st century is all about efficiency and financial responsibility for businesses in a struggling economy,” said Bachrach. “A company transitioning away from a traditional office and into a virtual office will experience environmental benefits, increased productivity levels from staff and of course a large financial saving on office space. What more can you ask for?”

About Turnkey Office Space: Turnkey Office Space is a countrywide search and consulting services for companies seeking office space. They specialize in office suites, virtual offices, and co-working spaces. Turnkey can be reached via their website turnkeyofficespace.com and by phone at 1-888-282-8555.

The Business Friendship: Success Stories

Some of the world’s most established and prosperous businesses were the brainchildren of true blue friendships.

Two close friends come together with a similar vision and drive… and boom! History is made. Is it always a good idea to go into business with a pal, maybe not? But we at Turnkey Office Space are optimistic people, and have churned out a list of some of the country’s best and brightest duos-turned-high-flying-entrepreneurs.

Ben Cohen and Jerry Greenfield of Ben & Jerry’s Ice Cream. The two both grew up in Long Island and were best friends from middle school. They idea of an ice cream business was conceived during gym class. After college and a series of random jobs, the two decided to take their adolescent dreams by the reigns and open up shop. In 1978, they took an ice cream making course by mail, put down a $12,000 deposit on a renovated gas station in Burlington, VT, and opened up ‘Ben & Jerry’s Home Made’. Who would’ve predicted that churning milk by hand could eventually lead to entrepreneurial stardom?

Evan Williams and Biz Stone of Twitter. Stone grew up in the middle-class suburbs of Wellesley, Massachusetts. He dropped out of college twice, then started a popular blog which eventually landed him a job at Google. It was there that he met future Twitter co-founder, Evan Williams. Williams comes from similar roots, specifically Clarks, Nebraska a tiny farm town. He also dropped out of college, taught himself how to code and took a development job in Silicon Valley. Along with Jack Dorsey, the three conjured up the fastest marketing and social tool the global interwebs have ever seen: Twitter.

Steve Jobs and Steve Wozniak of Apple. The tried and true tale of two friends running the world, we know it’s an obvious one but had to include it our list. Wozniak and Jobs first met while Wozniak was an undergraduate at UC Berkeley and Jobs was in high school. The two bonded over their mutual fascination for “electronics and pranks”. Wozniak was the designer and engineer, devising the hardware, circuit board and operating system for Apple I. Jobs was the marketing and development wizard, brainstorming the business vision and pioneering the brand. Although the two made a spectacular team, in the end, they didn’t remain close.

Turnkey Office Space Brings a Personal Touch to the Workspace Industry

An NYC-based online search service that helps companies find great office space solutions for their business is now open.

Co-founder Jonathan Bachrach explains how Turnkey’s service will offer customized searches and dedicated consulting.

Looking for office space online leads to an assortment of search and consulting websites. Typically, these websites let people browse through properties by region, and then (depending on which properties the clients choose) put them in touch with the building managers.

“It’s all about user experience,” says Turnkey Office Space co-founder, Jonathan Bachrach. Jon knows the insides of this system because he worked for one of the largest office search and consulting companies in the world. “We wanted to start a company that offers something more personal and provides individuals and companies with workspace solutions that they would not have found otherwise. Starting a business is difficult enough, and every aspect matters. Our personalized approach allows people to focus on their businesses while we focus on their office search.

Bachrach also mentions that his company will provide you with everything the major search and consulting companies offer plus:

-A tailored, pre-qualified list of recommendations

-Price negotiation to help companies find the best values on the market

-Alerts for special deals

-In-depth knowledge of the industry

-Non-traditional office solutions

Turnkey Office Space works with all of the major workspace management companies in major cities throughout the US, but they are also focused on giving attention to the smaller markets and providers as well. “By having a solid understanding of the many different styles and types of office suite providers in each market, our personalized approach allows us to provide options that are tailored to a company’s specific needs. Our goal is to provide our clients with the right space, not the most popular one,” says Bachrach.

Turnkey Office Space is a countrywide search and consulting company for workspace. They specialize in office suites, virtual offices, and coworking spaces. Turnkey can be reached via their website https://www.turnkeyofficespace.com and by phone at 1-888-282-8555.