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Brought to You By: Randy Elgin
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Randy Elgin
10999 IH10W; Ste 175
San Antonio, TX 78230
(210) 232-2310
How to Survive the Recession ... Stronger Than Before
As bad as it is out there, it's important to recognize that this is a time of tremendous opportunity.
Get my free report, "How to Survive the Recession ...Stronger than Before" by replying to this email or by calling the number above.
Quick Quiz
Each month I’ll give you a new question.
Just reply to this email for the answer.
A riddle for you this month: What thing can you keep after giving it to someone else?
Worth Reading
Selections from the best articles seen online this month.
How to Keep Good Employees in a Bad Economy
From Harvard Business Review
As we make our way through the challenges of the global economic crisis, high-impact performers are in demand. How do you retain these people? The answer, simply put, is leaders must manage their human assets (i.e., employees), and they must do so with the same vigor that they devote to financial assets.
The World's Most Innovative Companies: 2010
From Fast Company
Even in these tough times, surprising and extraordinary efforts are under way in businesses across the globe. From politics to technology, energy and transportation; from marketing to retail, health care and design, each company illustrates the power and potential of innovative ideas and creative execution.
Pennies and Dollars
From Seth Godin's Blog
The thing to do is invest in scary innovations, large leaps, significant savings. Instead of renting a skimpy booth at the big trade show and scrimping on all the extras, why not rent a limo and drive the key buyers around town, or sponsor the awards luncheon? When you skimp all the time, you signal that you're struggling.
BOOK REVIEW
Linchpin,
by Seth Godin
Seth Godin has the remarkable talent of tapping into what the business world needs right now. Sometimes his observations are so relevant that they seem horribly obvious.
But the thing is, Godin puts into words what we're on the cusp of understanding. He finds a concrete term for that feeling that's going on in the back of our minds.
His latest work is his most ambitious - and most important. The thesis of Linchpin is this: Gone are the post-Industrial Revolution days when to succeed you had to fit into the corporate world like a cog in a steam engine. Instead, those who are succeeding are creative - Godin calls them artists. They're the people who come up with ideas and create stuff. They make a difference.
But the trouble is, the education system, business and society in general haven't caught up to that yet. He says Linchpins must battle that status quo to succeed in the modern world.
Wisdom
Quotes by...Jim Collins
"If we only have great companies, we will merely have a prosperous society, not a great one. Economic growth and power are the means, not the definition, of a great nation."
"A culture of discipline is not a principle of business; it is a principle of greatness."
"Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline."
Jim Collins is the author of business books Good to Great and Built to Last. |
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REAL ESTATE
How to Attract Foreign Investors to Your Properties
Current U.S. market conditions have attracted the attention of foreign investors, creating an opportunity for commercial property owners to recapture some of the equity in their real estate holdings. The key is to find the proper global venue that will attract foreign investors to your specific commercial property.
Realtors have realized for some time that a web presence is necessary in order to compete in the global real estate market. Sites such as CommercialSource.com, LoopNet.com and ICIWorld.com give investors all over the world access to vast amounts of information about a wide variety of properties. The more detailed the information, the more likely it will attract qualified foreign investors.
Virtual tours have been widely used in residential markets for years, but these tours can be just as useful for attracting foreign investors to commercial and industrial properties. They give a greater sense of depth and usability in a space that appears one-dimensional in a traditional picture.
Print is still a valuable way to attract investors. Although the high cost of print advertising is seen as a deterrent, the creative placement of ads in trade journals can reach specialized commercial property investors that may be missed with other approaches.
Foreign investors are attracted to the U.S. real estate market by falling prices and the growing inventory of commercial properties. For property owners, this presents an opportunity to create a greater demand for their real estate holdings. Finding ways to attract foreign investors can be a key element in a successful property marketing campaign.
MARKETING
Market Your Business by Tapping into Twitter
 One hundred and forty characters may not seem like much to work with. That's what you get per tweet on Twitter.
The social networking site is all about spur-of-the-moment thoughts and short, spontaneous comments.
But marketers, politicians, publicists, celebrities, fundraisers and a host of other creative types have found ways to use 140 characters effectively to generate buzz about products, people or events; to promote ideas and sway public opinion; to gain global attention for their causes; and to build credibility and influence.
No matter how small your business or how limited your marketing budget, you can use Twitter to make connections and to engage in conversations with prospects, customers, peers and others.
The following are some tips for using Twitter as a promotional tool:
- Monitor your company and brand on Twitter. Know who's talking about you and what they're saying. Twitter has a search engine to help you do this.
- Connect with influencers such as media types, bloggers and well-known individuals.
- Contribute to conversations about issues and trends in your industry.
- Use Twitter to launch promotions and announce special sales.
- Send out frequent updates about your company's activities and events.
- Generate news about your people, your brand and your products.
- Create a buzz around new technologies, cool products, innovative methods and other breakthroughs.
If you participate in or hold events such as trade shows, conventions or training sessions, use Twitter to invite people and to announce last-minute changes, updates and reviews.
MANAGEMENT
What Businesses Can Learn from Apple's Steve Jobs
 Steve Jobs has been hailed as a creative crusader, a technology pioneer and an entrepreneurial wizard. He's known for insanely great products that are both functional and elegant and are at the forefront of commercial innovation.
As co-founder and CEO of Apple Inc. and later CEO of Pixar Animation Studios, the iconoclastic business leader and entrepreneurial icon has almost single-handedly transformed the way we compute, communicate, play music and view video.
He's adept at foreseeing and setting trends. His strategy of focusing on the most profitable customers and coming up with new, exciting things to sell them has made Apple Inc. a formidable success.
But at the same time, much has been made of Jobs' mercurial and demanding personality.
He is both admired and criticized for his charismatic salesmanship and for his volatile management style. His unique blend of fiery temper and chill temperament is embedded in virtually all of Apple's products: think iMacs, iBooks, iPods and the new iPad.
Are there lessons from Steve Jobs' experience that can be applied to your business? Here are a few:
- Stop at nothing to ensure excellence.
- Make a full-on, no-holds-barred commitment to customer satisfaction.
- Know your customers and give them what they want.
- Don't be afraid to buck conventional wisdom.
- Let go of things that aren't working or aren't central to your vision.
- Never compromise on quality.
For that matter, never compromise on style, functionality, innovation or presentation either. Above all, don't be afraid to blaze a trail. As Steve Jobs has shown, that trail just may lead to greatness.
Picture credit.
REAL ESTATE
Net and Gross Leases: What's the Difference? Commercial tenants can quickly get bogged down in the differences between net and gross leases.
There are distinct economic differences between the two lease types and their variations. Understanding those differences can mean a substantial savings when negotiating lease terms.
Gross Lease
A gross lease is an agreement whereby the tenant pays a fixed rental rate and the building owner pays all the operating expenses. This means that the property owner pays expenses such as insurance, taxes and utilities associated with the property, while the tenant is responsible for the rent and specific business-oriented expenses. The gross lease has disappeared in large part due to the additional costs assumed by the property owner.
Net Lease
In a net lease the tenant pays a portion of expenses associated with the building being rented. There are three categories of net lease. They are single, double and triple net. These types of leases put the burden of increasing expenses for utilities, taxes and insurance on the tenant and remove liabilities from the landlord.
Single Net Lease
A single net lease is an agreement in which the tenant pays the rent and certain expenses. In this instance, the tenant is usually expected to pay all or part of the property taxes in addition to the rent. This type of lease is more common in older buildings with shared utilities.
Double Net Lease
With a double net arrangement, the landlord is responsible for structural repairs to a building, while the tenant is responsible for taxes, building insurance, utilities and maintenance costs. Double net leases are rare in industrial situations, due to willingness of tenants to accept fractional tenancies to cut costs.
Triple Net Lease
Finally, a triple net lease is an arrangement in which the tenant pays for maintenance, operating expenses, taxes and insurance. In this instance, the tenant is responsible for repair and maintenance of any common areas. This form of net lease is often used with freestanding buildings but is also found in multiunit structures with tenants sharing the maintenance costs of the common areas.
Tenants may perceive that the best deal would be a gross lease, but this is not always the case. The terms and price of the lease agreement can affect the overall value of the lease arrangement.
For example, if the average gross lease in your area is $45 per square foot, while a net lease is calculated at $27 per square foot, with expenses calculated at an extra $16 per square foot, the net lease in this instance saves you $2 per square foot over the gross lease. This savings needs to be weighed carefully against variable expenses and any increases that may go along with them.
Whether you are presented with a net or gross lease agreement, a detailed analysis needs to be completed to determine better value. It is a good idea to look at historical data to determine the variable expenses such as heating, cooling and electricity. When comparing potential sites, look at the cost of maintenance and weigh the potential risks detailed in competing leases.
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| This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale. |
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