Moving Your Business Forward in a Down Economy
A successful business is one that is able to move quickly and adapt to change. With swift responses to changing situations, a successful business will remain successful even in a down economy, like the one we are living through today. These tips will help your business to continue moving forward and growing in any situation.
- The Customer is King. Your customers are your most valuable asset. You spent time, energy and expense to acquire them. Don’t let a negative experience or competitor steal them out from under you. Do everything you can to ensure that every interaction is a positive one. Take the time to interact with your customers through social media sites such as Twitter, Facebook and Yelp. Knowing what your customers are saying about you, both positive and negative, will help you to know where you are succeeding, and possibly failing, as a business. Do everything in your power to fix any areas where your customer service isn’t up to par.
- Know the Competition. This is closely related to knowing your customer. You need to know your competition inside and out because your customer likely does. Ensure that you are aware of their product and service developments, what their customers are saying about them and how your company compares. Keeping up on the competition is as easy as reading trade journals, following them on Twitter and setting up Google Alerts.
- Engage Your Customer. When you invest your time and energy to start talking to your customers via social media, resist the urge to SELL, SELL, SELL! It is essential that you provide them with a service in addition to your product, or you will quickly turn your customers off. Provide them with interesting tips, relevant information, some kind of additional content that goes beyond what they would expect to see about your product or service. Become a partner with your customer, a resource for information, and they will look forward to hearing from you.
- Know When to Spend. This is the trickiest point of all. When the economy slows down it is only logical to tighten your budgets and not spend as much. But when things start to turn around, it is time to start making small spending choices. When business starts to improve make strategic decisions about adding staff, widening product lines or purchasing equipment. Adding a part time or freelance person can offer the added help you need without the commitment of a full time employee. Adding one or two additional products can give your line the freshness and lift it needs. Making those strategic decisions are essential to future success.
LA’s Largest Office Lease Deal of the Year
Eric Duncanson and Steve Walbridge of Cushman & Wakefield partnered with Howard Feuerstein of Travers Realty to represent USC in what is being touted as LA’s largest office lease deal of 2010. The University of Southern California (USC) has renewed their 160,000 square foot lease in the Marina Towers in Marina Del Rey, California.
The Marina Towers consists of two 12-story office buildings totaling 380,000 square feet and are located across from Marina Del Rey Hospital. The building located at 4676 Admiralty Way is home to USC’s Information Sciences Institute, a unit of the Viterbi School of Engineering.
Regent congratulates the team who represented USC on closing this extremely important deal.
Premier Office Space in the Heart of Midtown Manhattan
When New York businesses look to position themselves in prestigious office space in a highly desirable location, Midtown Manhattan is always on the list. Business owners in the know, look to Regent Business Centers’ executive office suites located at 750 Third Avenue, in the Grand Central Square building, for the finest office space with top quality amenities.
This superior office buliding, located between 46th & 47th Street on Third Avenue, features a newly renovated lobby, entryway and elevator cabs. Its dramatic glass façade is designed to impress and is sure to present the image you desire for your organization. The highly sought after location in the heart of Midtown makes 750 Third Avenue one of Regent Business Centers’ most desirable excutive suite facilities. Our clients enjoy being located in an area populated by distiguised coporations and many fine retail and entertainment outlets.
As with all Regent Business Centers, 750 Third Avenue offers clients a long list of amenities. The 750 Third Avenue facility has 150 offices averaging 190 square feet. Each fully furnished office features permenant high speed internet access and assured telecommunication services. Additional amenities include:
- Four conference rooms with HD video conferencing
- Receptionists to greet guests, answer and route calls
- Complete back office services
- Two copy rooms
- Two kitchens
- A mail services room
When you join Regent Business Centers’ 750 Third Avenue facility, we are certain you will find all you need for your business to thrive. With flexible lease agreements and a staff on-site to meet all of your needs, Regent Business Centers is the perfect partner for success.
For more information please visit our website, or email Lisa Rosof at lisa@regentbc.com.
Regent Launches Updated Website
Regent Business Centers’ new website went live last week at http://www.regentbc.com. The new look offers an easy to navigate, user friendly design. The uncluttered look provides users with quick access to information regarding each of Regent’s US, UK and India offices with just the click of a mouse. Users can also quickly acquire in depth information on Regent services including serviced offices, virtual offices and meeting rooms.
“Our goal was to create a site that allowed users to quickly navigate to the information they require. The clean, streamlined appearance and focus on providing information in a concise, easy to use format is in line with our goals of partnering with our clients to help drive their success,” comments David Nadler, Managing Partner for Regent Business Centers.
Regent offers premium business facilities and services for corporations and individuals requiring flexible, cost-effective office space. With flexible lease agreements, fully furnished office space, complete back office services and state of the art technology, Regent is a leader in the shared office arena. In the United States, Regent currently manages more than 500,000 square feet of office space in prime locations in New York, Chicago, Denver, San Francisco and Southern California. Regent also has office space partners in the UK and India.
You can also follow Regent Business Centers on Facebook at www.facebook.com/regentbusinesscenters and on Twitter at www.twitter.com/regentbc.
Tips from the Book “Secrets of Small Business Owners Exposed”
We loved these tips that any business, large or small, can put into practice to be better. We hope you find them as valuable as we do!
- Create and communicate your organizational clarity. Clear roles and responsibilities within your company are necessary. Articulate your vision.
- Someone has to be in charge. Decide where the buck stops. When there is shared responsibility, there is no responsibility.
- Find Your Focus. Be focused on your company’s direction. Pay special attention to the financial side of your business.
- Plan, Plan, Plan. There is no substitute for planning. Prior preparation prevents a pretty poor performance.
- Develop Systems. As FedEx says, “Systemize the routine; humanize the exception.”
- Customer Service is Essential. Give your customers the type of service you expect from your vendors.
- Think, Think, Think. Never stop thinking about ways to be different, innovative, creative and exclusive. Make your business the best it can be.
- Don’t delay! Take action now!
- Go the Extra Mile. Your customers will appreciate it and you will build rapport and long term relationships by proving you are in for the long haul. A little extra goes a long way!
New Regent Website Coming Soon!
We are excited to let you know that our new website look will be launching very soon. Check back here for more information about our new website!
What Do Business Owners and Senior Managers Say about Today’s Changing Business Climate?
Check out these interesting statistics from a survey of 1,500 business owners and senior managers about how today’s business climate may be changing.
- 58% of business leaders no longer consider the size of a business’ staff as a benchmark of success.
- 94% of those surveyed evaluate their team based on results rather than the amount of time spent in the office.
- 47% of respondents do not believe that age has anything to do with being a trust business leader.
- 61% of business leaders still believe that size, design and location of your office says a lot about the success of your business.
- 62% believe that membership in trade organizations is still important to business success.
- 36% of respondents disagree that the traditional work week lasts from Monday to Friday.
- 49% of respondents disagree with the statement that “Nine to five are the accepted working hours.”
