Friday, 21 July 2017
Wednesday, 21 June 2017
It’s a tough decision to make between buying and leasing an office space especially when you are new to business. When your business is growing, you won’t be able to take it forward with just a home office; all that you need is an ideal workspace to carry out your operations. Once you decide to get into an office space, the first question that arises is “whether to buy an office space or to lease?” It’s definitely a question to be thought of.
Your decision must be based on a few key considerations that are thought with respect to your business type. You can also consider taking professional advice in order to understand the legal and financial obligations. Along with these, you will have to consider the factors that would influence the cost to your business. Here are a few points that shed light on the things you need to consider while deciding between leasing and buying an office space.
- First thing is that, seeing whether the space is in right location for your business. This lets you decide if you can stick on to the space permanently by buying it!
- If it partially meets your requirements based on location, you can consider leasing it for some period of time, and change the location if it’s not working.
- If yours is a retail business, check if your distributors and suppliers are nearby; this can save huge delivery costs to the company.
- Some businesses do rely on the passing trade, if yours is one of them, you will have to consider choosing a vibrant retail hub.
Thursday, 8 June 2017
Subleasing Your #Office #Space? Here’s What You Need to Know#bangalore
Subleasing or subletting is nothing but leasing the part or whole of the property by you as a tenant to a sub-tenant!
But why would one want to sublease the office space?
Well, there are many reasons why a business owner thinks of subletting his/her office space to other businesses. Here are a few.
1. Outgrowth: When the number of employees outgrows the office space, they can’t just cut down the employees just because there’s no enough space to accommodate them. They can’t break the lease term either and move into a larger office space. So what can they do in such a case? Simple, sublease! They can simply sublet their space to any other business and move in to a large office space that can accommodate all their employees.
2. Relocation: The Company may want to relocate to a different place to avail the tax benefits or to be closer to the customers or business partners, and if the lease term is still in force, the company might think of subletting the space.
3. Downsize: Third and most common reason for businesses to think of subleasing is the downsized company. The company will have to lay off a few employees because of the poor economic conditions. This leaves a few empty places at the office which makes them think of subleasing.
So, if at all you’ve made your mind to sublease your office space, here’s what you need to know.
Determine if you’re allowed to sublet
First thing you need to make sure as and when you decide to sublease the office space is to determine if you’re allowed to do so. All the lease terms will have a separate clause for sublease if you are allowed to let your leased property to a sub tenant.
Friday, 26 May 2017
Bangalore is known as the IT hub of India. People even don’t hesitate to call it Silicon Valley of India. This city is not only famous for its IT companies but for its startups in different niches. Bangalore is a heaven for entrepreneurs and has equal scope for both startups and established businesses looking for expansions.
Bangalore is a truly cosmopolitan city and people here are filled with entrepreneurial spirit. Real Estate prices in Bangalore are more competitive than Mumbai and NCR. So Bangalore can be one of the most favorable cities in India to set up offices for your business.
Why location matters for a Business?
Either you are looking for an office space for your startup or office relocation for your established business, the first question comes in your mind is Location.
Business location contributes to your organization's growth. Closeness with the potential client, proximity to the residence of employees, amenities nearby and transportation facilities of an area are few important factors for deciding a location for your business. It doesn't matter that you are buying or renting office space, what really matters is where you want to operate from.
What are the options Bangalore has?
Bangalore can be divided into 5 regions like most of the cities of the world. Here are the divisions with areas suitable for setting up the office space-
- Bangalore East – Marthahalli, CV Raman Nagar, Indiranagar and Whitefield
- Bangalore West – Mysuru Road, BEML Layout, and Kengeri
- Bangalore North – Nagwara, Hennur, RT Nagar, Yelhanka, and Hebbal
- Bangalore South – Koramangala, JP Nagar, BTM Layout and Bannerghatta Road
- Bangalore Central – Domlur and MG Road
So this is the topography of Bangalore. Now you can choose an area which best suits you, your employees and your business.
Best locations for office space in Bangalore
You should choose a location which best suits your business and your employees. Leasing or buying cost also plays an important role in deciding a location. You should analyze your requirement and come up with a location which suits your budget and all other factors. Sometimes it’s really hard to decide on a location.
So here we Top 5 locations of Bangalore for renting or buying office spaces–
Tuesday, 23 May 2017
Setting up an office space for a business is not a trivial task as it takes a lot of your time and money. While having own office space for a business is a milestone for owners and young entrepreneurs, it’s a known fact that it can go wrong sometimes and the result will be a drastic financial loss.
So, is there any way small businesses or start-ups can set up their offices without having to spend too much? Yes, there are!
Try Remote Work Model
Well, remote work model is not something new for people who’ve been in business for long time. Remote working needs no official place to sit and work for long hours, separate cabins, conference rooms and other typical office space stuffs. All that it takes is a little bit of responsibility from the employee, trust from the company hiring remote workers and high-speed internet connection.
However, the trust shouldn’t be a blind faith as there are a few workers who don’t take remote working seriously. But setting strict deadlines and monitoring on the project management tools or simply scheduling conferences on Skype, managers can always keep an eye on employees.
So, when does this remote working make sense?
All the businesses which are online service based can adopt this strategy of making their employees work from home. Just see if your employees can work from wherever they are. Most of the entrepreneurs who are result oriented follow this approach; all that matters to them is the result, but not seeing their employees daily.
What’s the use of employees coming to office daily but not working to their full potential? Doesn’t make any sense right? But you should never forget the downsides of remote working like employee’s productivity and time management.
How about Co-Working?
Many young entrepreneurs today don’t like the idea of co-working spaces at all. Hubs or co-working spaces are where employees can spend most of their time working as they want. Co-working spaces have basic amenities like high-speed internet connection, cafes, libraries and all that one would look for to carry out his/her business operations.
Why don’t young entrepreneurs like the idea of co-working? Probably they’re forgetting some benefits that co-working spaces have got to offer.
Most likeable thing in co-working spaces is that it gets you meet a few like-minded people around. It offers you the greatest opportunities to build your network which lets you expand your business greatly sometime later. Also, you don’t have to be concerned about the maintenance and think of all those legal procedures to be followed while renting and leasing offices space where you’ll have to go around, search for spaces, redesign the place if it’s not matching your requirement.
But co-working is not everybody’s cup of tea; it won’t work for every company. If your employees are used to be working in a quiet environment, drop the idea of co-working right now.
Friday, 21 April 2017
Why an office space should be fashionable? What are the benefits of modern office space design?
Well, office space is a place where the employees spend most of their time in a day, and it should never be boring. Most of the business owners are not aware of the importance of office space that they just get into it without thinking if it suits their business and employees, and face troubles later. But a business owner must be aware that an office space can turn out to be a boon for their business if they choose it wisely. Yes, contemporary office space design is proved to be beneficial for many businesses and it’s said to be improving their ROI greatly.
Here are few ways how modern design can help businesses gain more profit.
Saves Significant Cost
Currently, the most happening vogue in office space industry is the Green Office. Many large enterprises and small organisations have already started following the green office trend, and it’s working for them.
Bringing in some live plants inside the office space adds an elegant look to the office while also improving the employees’ productivity. Yes, the research says that bringing live plants into the workplace fosters creativity in employees and helps them be active throughout their working day. As it adds a great décor to the workspace, it reduces the need to add some attractive artefacts to enhance the beauty of the space.
Green office doesn’t just mean bringing in some live plants, but also means making efficient usage of energy (proper ventilation, using bulbs that consume less energy, etc.) which saves significant cost to company.
Productivity is never an accident; it’s the result of commitment to excellence, intelligent planning and focused effort – Paul J Meyer
You just have to find a way to keep your employees happy. And, the contemporary design just does that. As said in the above point, when the office space is attractive and energy boosting, it enhances employees’ productivity and helps them be lively throughout the day.
A simple wall art can be an inspiration to the employees which help them do wonders. This is the reason for most of the companies giving high priority to their workplace. They clearly know the benefits that an attractive office space can provide. Whatever they do, they make sure that they provide productive work environment for their employees.
When the office space itself is innovative, the employees start being innovative too. Yes, it’s been proved that employees working in a creative workspace come up with innovative thoughts. But the innovation should be in a way that it’s supporting your and employees and business type.
It can start anywhere; may be usage of vibrant colours for painting or even an attractive roof. It keeps the employees inspired and makes them think out of the box, which is much needed for the growth of a company. And, when the employees start thinking innovatively, it definitely shows in ROI.
A business owner must clearly know the importance of providing an attractive office space to their employees. They must know that it is not just a place for their employees to work, but it’s a place where miracles happen. Many multinationals like Google, have started seeing office space as a strategic tool to improve productivity and foster collaboration.
So do you think your office space is providing you these benefits? If not, it’s time for you to look out for a modern office space. But how would you find one? Don’t worry! Commercial Office Bangalore can help you with that. We are an experienced property management firm providing commercial real estate services. Let us know your requirements; we’ll help you find an amazing office space for your business.
Monday, 17 April 2017
How to make most of my team?
What should I do to make my team productive?
These are the pertinent question which bothers you a lot when you are running your business.
It becomes more important to achieve ultimate productivity in initial days of your business as you can’t afford extra resources. Getting the most of your team doesn’t mean working them to death. If employees overwork up to the extent of being stressed then it would be more difficult for you to retain them and hire good talents. It could lead to a bad reputation of not caring for the employees too.
So what are the options you have to make your team productive without stressing them?
You can optimize your office space, change your workflow and monitor work process to work towards getting more productivity from the existing team.
Here are few techniques by which you can ensure greater productivity from your team at workplace-
1. Use Colors Wisely
Colors play an important role in office space. It impacts our brain’s performance and can affect the level of motivation. Red and blue colors are known for improving productivity.
Blue is known for igniting creativity and inspirational thoughts. It’s better to use this color at the time of solving a problem or writing a business proposal. Red colors can be used to focus with the concentration. Red is considered good for attention to details. These colors can be implemented in office interiors as well as on employee’s desks.
2. Schedule Everything
Scheduling is one of the most important things to do for the productivity. As a business owner, it's your responsibility to educate employees about the benefits of scheduling things.
Almost all employees, irrespective of the industry use this technique but it's limited to certain important tasks only. They probably mark down important meetings and deadlines in a calendar but that's not enough for increasing productivity.
All employees should schedule every single task well in advance. And they should stick to the schedule and deadline. Then only they can ensure timely completion of work. Scheduling everything is critical to ensure the value of time in employee’s mind. And it gives ultimate focus towards work.
3. Give Proper Breaks to Employees
Taking breaks at regular intervals is also crucial for employee’s productivity. All breaks should be timed properly and everybody should respect that. Breaks are really important in a job where lots of thinking involve like software development.
Apart from longer breaks like lunch, there should be some shorter and strategic breaks too. A shorter break allows you to refresh the mind and start working with new energy. Some expert says that it's better to follow a rule called 10+2 for shorter breaks. It means work 10 minutes and takes a break for 2 minutes. So in an hour, you should take 5 breaks of 2 minutes. It's a great way to take the shorter break but there is no compulsion to follow the same rule. You should analyze your business and employees and create your own rule which suits you best.
4. Limit Use of Gadgets on Desk
Gadgets are double sided swords. Depending on the situations it can be the best friend and or worst enemy for the office productivity. According to a research, an average person checks his phone 150 times per day. It won't take much time for checking notifications but it can surely distract employees from their work.
So what is the solution? Leaving your cell phone on the desk makes you irresistible for using but its easy to handle if you put it in the drawer.
As a business owner, you can create a policy to keep phones or tablets in the drawer during work hours. But it can be a hard policy to implement. So talk to your employees and try to come up with a solution which is good for both.
5. Keep Meetings Short
Meetings are really necessary for the functioning of any business. But meeting can be a time killer too if not planned well. So it’s better to make meetings more productive or don’t do that at all.
Sometimes we see that there are few people in the meeting who don’t have any significant role in the meeting. So before scheduling any meeting in your organization, make sure who is really required for the meeting and how much time is needed to discuss the agenda.
So it’s better to have short and fruitful meetings instead of boring and non-productive one.
Productivity is a fickle concept. It varies from person to person. The same thing which encourages someone to stay productive can be a distraction for others. Employees are different and so are their jobs. So it’s your job as a manager or business owner to encourage them in right way to achieve the productivity goals. Nothing is better than communication in this regard. Talk to your employees and try to find out what they love in an office space and implement accordingly.