The OfficeLinks Business Support Services can act as part of your team in a number of ways.  Need 100 copies of a presentation by tomorrow, collated and bound? OfficeLinks Business Support Services are there for you. Need to have data entered into your system, but it has been sitting on your desk for weeks, getting bumped for other to-dos on your list?  OfficeLinks Business Support Services are there for you. Have a major business meeting and need help with the PowerPoint presentation and video conferencing?  OfficeLinks Business Support Services are there for you.   Need voicemail storage and access 24/7?  OfficeLinks Business Support Services are there for you. Need high-speed internet access with managed firewall protection and system support and maintenance?  OfficeLinks Business Support Services are there for you.

Ok, so we’re trying to drive home a point by saying that we’re there for you.  But all joking aside, OIfficeLinks clients know that we are absolutely committed to being there for you and providing an environment for them to thrive.  For more information about how OfficeLinks can support your business and employees, click here.

The W offers the elegance of a 4-star hotel with the convenience of being just a block away from the Willis Tower. As an OfficeLinks client, no matter if you office with us in Chicago, Chelsea, Wall Street or Bryant Park, you will have access to an exclusive, outstanding discount for the W’s “Wonderful” and “Spectacular” rooms.

Here are 5 easy steps for you to follow to book OfficeLinks’ discounted rooms at the W Hotel:

1. Go to www.whotels.com
2. Click “Book Now” Located on the right side of the screen
3. Select W Chicago Lakeshore or City Center and Enter Dates
4. Click “Travel Agents and Corp. Accts”; Enter in the number: (OfficeLinks clients may speak to their Center Manger to find out the secret code.)
5. Click “Find Rates”. If the OfficeLinks client rate is available, you will see it listed. If not you will see the best rates The W can offer to you during those days.

Offices where you’ll thrive and W Hotel rooms to rejuvenate, the perfect combination.

See for yourself why OfficeLinks forged a relationship with the impressive W Hotel by clicking here.

Selecting the right Office Space in New York City, Chicago, or realistically anywhere, involves significant due diligence.  Since office related expenses are commonly the second largest cost to hit the bottom line, examine the complete spectrum of workplace options to ensure that you select the solution that is optimal for your business now and for tomorrow.

There are really four options to consider:  Traditional space, sublet space, business centers and home working.  In future blog posts, we will dissect each option in greater detail.  But, for now we will look at some core elements of the decision-making process.

Total Occupancy Cost:

When examining price, ensure you are including all the factors of this very complex equation. To be very clear, square foot pricing is not Total Cost of Occupancy.  Price per square foot is simply one factor.  At a very high level, consider all the costs for fitting out your office so that it is “business-ready” (don’t forget about the common areas including reception, meeting rooms etc…) and then running and managing that facility.  Then factor in that cost when the space is totally utilized and when it’s not. For expediency sake we’re proving a very high-level overview. In an upcoming blog post, we will address the true definition of Total Occupancy Costs. 

Other factors in your decision-making process should be:

Term of the agreement. In today’s dynamic marketplace your business needs to be agile.  Long-term, fixed leases do not enable business agility. There is a clear disconnect between what landlords and business owners need. Business Week quoted a stat that 50% of a typical company’s office space sits empty.  You can mitigate this risk with agreements that have flexible terms and allow you to expand and contract your office space according to business needs, which leads to the next thing to consider.

Rent increases.  Even with long-term leases, rent tends to increase.  So when you find an option with a shorter, less risky term, you want to cover yourself from potential rent hikes.  Ask for a clause that correlates rent increases to the Consumer Price Index (CPI).  With today’s marketplace, you can request a shorter term and ask for a rent freeze for the first year. Watch out for increases tied to “fair market valuations” and stick to CPI.

Building maintenance and utilities.  With every office comes office related bills – as the cost to actually run the business.  Remember to ask for a definitive list of what’s included and what additional charges you would have each month. If the services and utilities are all charged separately, you may see that your low rent price per square foot option is no longer a wise choice, which leads me to the next point.

Complete office and support package. You know how to run your business and each minute you are distracted from it negatively impacts your output.   To ensure you are optimizing each hour, select options where your office management is included in your monthly price.  Business Centers offer options for a receptionist to answer calls, to give a warm welcome to greet visitors and can even help arrange meetings as needed.  To many, these services immediately equate to savings in headcount or from utilizing that staff for business driving efforts.   Using shared business equipment cuts overhead and utilities are generally included in your monthly cost.  For many, the networking in such a shared business environment has lead to new revenue gains.  Finally, a long-term lease agreement that doesn’t support your dynamic business needs could prove devastating to your business.

Risk:

For most, running a real estate function is not a core competency.  Identifying the space where you want to office is one thing.  Forecasting the right amount of space so that you can optimize utilization, negotiating a 50+ page lease agreement, establishing a business-ready environment is another.  Making the wrong office decision can really be a noose around the neck of a business for years to come.  Consider all options that mitigate that risk.