Just a short walk from OfficeLinks Bryant Park office location, you can also step onto history at the Discovery Time Square Exposition at 226 W 44th St (between Seventh and Eighth Aves) seven days a week between 10am-10pm.  This new large-scale exhibition center, will offer limited edition runs of exhibits from across the globe, including the Titanic exhibit. The 60,000-square-foot space is just around the corner from OfficeLinks Bryant Park office location and is housed in the former New York Times building, and includes a learning center, a space for special events and a café.  For more information, click here.  What a great location.  This is just another benefit of being an OfficeLinks office, virtual office and meeting room client.

According to David, CDM Software Solutions, Inc.’s approach to business, though simple, is absolutely essential to their success: Listen to clients. Understand what “keeps them up at night”.  Use the firm’s expertise to identify the root of the issues, map the plan and deliver the services to eradicate the issue and optimize performance.  Then, invest and stand by the client.  For CDM Software Solutions, Inc., listening to clients allows them to provide comprehensive, yet efficient and user-friendly software solutions that meet the clients’ needs and help them to achieve their business objectives.  Committing to stand by their clients allows CDM Software Solutions, Inc. to provide the necessary technology innovation that helps them as their needs evolve.

In our conversation, David shared with me some of what I’d like to call “pearls of wisdom” – and I just had to share them with you because they are just that important:

• Be patient – as an entrepreneur, you know that the marketplace is dynamic. Charter your path and stay the course while being nimble and patient.
• Perform your due diligence. Meaning: learn about your clients – research them, ask them questions, get to know everything about them. Utilize your skill and core competency to provide real value. A solution that they would otherwise not realize.
• Show loyalty - it will make a difference and pay off in the long term. And this again wraps around to patience – you may not see the pay off tomorrow, next week or next month. But, you will see it. It will return dividends.
• Be flexible and dynamic. Success isn’t a formula written in stone. You may have a standard model or approach but adapting that approach to the unique needs of your client will yield the greatest success. Being flexible and dynamic allows you to add significant value to each and every client.

There’s a valuable lesson in what David shared with me: it’s not about giving the client what you think they want or need, it’s about truly listening to the client and committing to giving them what their business actually needs.  Now that’s what makes a business a success – no matter the economic situation.  To learn more about CDM Software Solutions, Inc., click here.

Thriving at OfficeLinks New York Officespace

The lesson from what’s happening in the restaurant world is one that can be applied to many businesses.  In order to navigate the difficult economy, companies must be humble and adjust to the times.  This was one of many important pieces of advice I received from Roddy Salazar of Interfax during a recent interview.  Interfax provides essential news and other information products, focusing mainly on Russia, countries of the former Soviet Union, China, and Central Europe, for decision-makers in politics and business.  Roddy opened his company’s first New York City office at OfficeLinks’ 40 Wall Street location in July 2007.  With a nimble business plan, Interfax is prevailing despite the obstacles.  Roddy, like many NYC restaurant owners, knows that client retention is key.  Here are some of Roddy’s pointers for client retention:

*Lose the arrogance.  Be humble.

*Move with the environment. Ensure your strategy is agile and adept to the current marketplace at all times.  

*Engage your clients.  Roddy shared with me that he pre empts the “we’re canceling our account” discussion by providing his clients with a powerful value-add.  Further, he went to each of his clients and assured them that there would not be an increase in the cost of their subscriptions.

*Provide a superior value proposition. People are extremely selective with their money.  Therefore, businesses must provide a superior value proposition (remember value proposition=benefits/cost) in order to have the edge over their competition.  Per Se recognized that the recession wasn’t going to stop people from eating but they needed to enhance their value proposition to beat out the competition at their particular price point.  Roddy knows the need for information is just as crucial as ever.  His challenge, and it appears that he has stepped up to the plate, is to create a powerful set of benefits that outweigh the cost.

With client retention in the front of their minds, Interfax is positioned to grow and capture opportunity.  My guess is that its competitors who struggle the most will be the ones who remain too rigid in their approach.  Right now, Roddy’s tips are extremely timely.  In fact, the interview made me think about what my own company, OfficeLinks, is doing lately to adjust to the current marketplace.  Similar to Interfax, we are focused on client retention.  OfficeLinks is continually inventing creative ways to improve our value proposition.  A good example is the recent launch of our CoWorking program, which enables mobile workers to take advantage of our state-of-the-art work environment.

OfficeLinks Wall Street NYC Client that is Unlocking the Keys to Success

How can a company improve the lives of many Americans while at the same time developing a profitable business during a difficult economic climate?  The answer to this question is certainly not an obvious one. However, after sitting down for an interview with Oryan’s Group, a company dedicated to helping create better business through innovation, automation, organizational alignment, optimal management structure, and solid business strategy, it was clear to me that this company has a strong answer.  Dr. Oryan Yitzhak, President and CEO, of Oryan’s Group, first brought his company to OfficeLinks’ 40 Wall Street location in December of 2008 with a vision to identify opportunity in the turbulent American marketplace.  After considerable due diligence and careful consideration he found his niche. Leveraging his experience in real estate and investment banking and insights into the American marketplace, Dr. Oryan Yitzhak purchases properties for renovation and rents them out at discounted rates.  In the short term Oryan’s Group improves residential areas as well as the lives of the Americans who occupy his properties and in the long term, he is building a profitable business as his aim is to sell these properties at real value once the market picks up.  Having learned about the great work of this company, I am especially pleased to observe it is thriving despite the current recession. Oryan’s Group recently took on more office space at 40 Wall Street and we at OfficeLinks are honored to provide a nimble workplace platform that could accommodate their expansion.

Know Your Options

During these difficult times the appeal of an office sublet can be strong.  An office sublet is often perceived as a way to minimize rent expenses, the second largest fixed line item for most companies.  However, more often that not, sublets are not the best solution.  Business centers offer companies a more cost effective alternative with many advantages over sublets. 

Sublet: Pitfalls and disadvantages: Recently we have seen a significant increase in sublet availability almost markets Sublet opportunities come in all sizes and conditions and all have common pitfalls. 

First: Your business is vulnerable to your sub landlord. 

A sub-landlord’s goal is to reduce or eliminate their financial obligation; any amount of money received is a net gain even if it’s less than they are paying to the over-landlord. Assuming your rent would likely be less than the sub-landlord is paying, there would be a gap.  This amount could be small or large but either way it must be paid to prevent default and eviction. Your office space is at risk and out of your control; your sub-landlord is some bankrupt hedge fund.  Welcome to your sublet.  Read more on sublet space versus other office space options.