Five tips to leasing your office space

After layoffs during the recession, many small businesses have need more office space than they. From sub-letting of unused space, can generate extra cash, while can set the room for a good cause.

A commercial sub-letting is usually a written agreement between the original tenant and want the company, which under verpachtet of the room. It is important to note that if you see verpachtet another tenant office space, you are obliged to the conditions of the original lease contract, signed with your landlord.

You have unused office space, you may benefit from an arrangement sublease. Only you need to do first, your housework-it's much more to sublease than collect rent a review. Here are five things to consider before you get started.

--Don Sadler

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'A company or' sink swim experience with Online coupon sites

Read more! See the AllBusiness Guide for working with daily deal sites for the latest expert advice and news.

At 8 am on a Saturday in February, the phone began to sound in a small office in Miami on a concrete Pier that extends into the blue waters of Biscayne Bay. Moments later a second line began to sound - and with that, the phone system in South Beach Yacht was officially overwhelmed. The next call came into voicemail and the other after a busy signal.

Undeterred, left messages for callers or back tested over and over again, eager to plunk for $199 for a rent of boat that normally would have a cost of $400. It seemed almost too good to be true, and potential tenants had frequently asked questions - many, many questions.

At the moment that the phones were silent Sunday night, some 800 calls had poured into which represents an increase of 2,000% on phone company normal weekend traffic.

Ironically, the massive increase in business came without any additional cost initial advertising. "We spend thousands of dollars in Google AdWords, and always appear at the top when people seek in Miami boat rentals," said Ernie Sauer, a former New Yorker that he "retired" Florida and South Beach Yacht launched in 2009.

"But a lot of people do not go to the Internet and thought it was time to try something more".

More turned out to be LivingSocial, the site of coupon that has been giving Mayor a run for its money in the growing number of days space marketing. Mayor would have been his first choice, said Sauer, but "I don't want to talk with us for months and months and months".

"One of the problems is that you cannot get to a real person on the phone [on Mayor]," said Sauer. "Go to your Web site, the shape of his new contract and could eventually return to you if you are interested in".

Frustrated by the lack of response from Mayor, Sauer asked his manager, Greg Jackson, to look for alternatives. Jackson went on to have an acquaintance who worked for LivingSocial in Washington, D.C., and Sauer was finally able to speak with a real person on her forehead.

"LivingSocial only came on the scene in Miami," explained Jackson, and the service was eager to the line of new offerings. Rent boats South Beach was signed in the second quarter of 2010, but then "LivingSocial we keep." "It took almost a year to reach this fact".

The problem? According to Sauer, in mid-2010 the daily deal sites still were working mainly with restaurants, where the business model is quite simple. "Who could not obtain the head around our offering", said representatives of sales of LivingSocial.

"Anyone can go into a restaurant and eat the food," Sauer, said. "But in our case, you have to have navigation experience." "Our insurance requires a lot of questions to ensure that the tenants are qualified".

LivingSocial seemed reluctant to alienate customers that have excited with an agreement, only to find that they were not eligible to participate. And for practical reasons, the offer would have to include many other fine print that can be daunting, including surcharges for fuel, the availability of ship and time restrictions.

If boat hire presented a new challenge for LivingSocial, the idea of a coupon was just as disappointing for Sauer. "Terrifying' is the best word I can think of," he said. "We have seen as a way to get our name out there, because the business is where we really do our money."

"But we don't know how much of a loss leader would be," said Sauer. "And we are talking about some pretty big numbers." He drank lots of coffee and they ran the numbers over and over again. What happens if we collect it, what happens if we offer you? We tried every scenario you can think, and sometimes worked. "

Initially, Sauer said he and Jackson moved into offering a $50 flat discount good towards any rent. But with some packages of up to $2,000, "a $50 coupon would be meaningless," he said.

Another option was deeply offering prices at one all inclusive package, including soft drinks and a professional captain. You can have the attraction of attracting more inexperienced boaters, but could also block the losses of the company, as all update options were already included in the price.

"We ended up losing about $30 or $40 for each transaction if we made a package all inclusive tour and could not see any way in,", said Sauer.

In the end, Sauer and Jackson was established in an agreement which was quite lucrative for both parties to accept and easy to explain: four hours in a small boat with no captain of $199.

The agreement came in February, almost a year after the initial contact of the company with LivingSocial - and that's when the real work begins.

800 Calls that flooded in that first weekend, little more than 200 customers after the purchase transaction. For the next two weeks, rent boats South Beach was flooded with the callers to schedule his four-hour slot, and about 30 percent of certificates were redeemed in the first 30 days.

Sauer, said the flood initial has tapered now, and the programming is becoming easier. Despite all the efforts to explain in detail the complexities of the operation, "a handful" of customers has requested their money after discovering that they could not choose any ship in the fleet or that do not have a professional captain at the wheel.

"" But the gripers are in a distinct minority, according to Sauer: "ninety-nine percent say," Oh, that was great, we are to do it again "."

It's a feeling same Sauer shares about the process, despite their ups and downs. The agreement of coupon "put us on the map in some respects," said. Gross revenue of the company are 50 per cent compared with six months ago, and although some of them is because the economic upturn to general, there is little doubt that the stamps played an important role.

Better still, Sauer said, about one-third of the customers coupons Redeemer so far have been updated to larger vessels or hire more time, so that the agreement has not been the great leader of loss Sauer initially feared might be.

Now that it has been through it once, Sauer is once again: two weeks after his successful agreement on LivingSocial, rent boats South Beach received a call from Mayor. "We suddenly are on the list because we have delivered" smiled Sauer.

Sauer, on the basis of its experience of side, says the new deal came together in just two weeks, and he thinks it will sell bonds from 400 to 500, with the Mayor's largest customer base.

And this time, he promises, there will be no busy signal: three new employees with an improved system of telephone PBX, said, "We are anxious calls start coming."

Read more! See the AllBusiness Guide for working with daily deal sites for the latest expert advice and news.

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Lessons from the implementation of loan: sweat the details always

No matter how long someone has worked for you or how relevant they are, everyone makes mistakes. When it comes to loan requests, ensure another error does not cost you or your company.

I often run their businesses on small irrelevant things entrepreneurs to micro-administración and not properly supervise the business duties and functions that require the utmost attention to detail.

Small businesses have always had to run "lean and mean". With a small team, you may need to carry more than one hat at a time. You may be acting as CEO one day and the next driver while always with his hat's sales manager. This can be a good way to save the cost of management, but be careful. There are many "jobs" that can be delegated and some that should just not be. If you are the owner, remember that no matter what someone from your staff says or does, you are responsible for the decision ultimately. It is his signature on contracts and his personal guarantee for loans and concessions. Not even consider the reputation of your company, growth potential or lost opportunities if something goes wrong.

I am a great believer in the delegation of tasks. For example, obtain a loan in the Bank or other financing involves a large amount of paperwork. There is usually a long list of documents that need to be prepared and delivered to the lender. But it is your responsibility to ensure one time to collect documents that verify each rather than leave his Office.

In the past few months I've seen companies hurt to apply for loans by relying too much on employees and not having good supervision. These are some examples of what can go wrong:

Titles of management not coincidence of all the documents loan. If a controller and executive director, to decide what is its official title before filling in the application. Sending of documents which appears to him as Director-General in a single document and have another person appears as CEO in another is a red flag for any lender.

Get a new loan will require a statement of "use of the funds". Make sure that appear necessary funds of all and what they are. Also make sure that they are within the guidelines of what the source of funding will be loans against. If put down $XX of "goodwill", and the origin of loans only provide against hard drive assets, the paper creates problems.

Personal financial statements must be signed within 90 days of the presentation. I've seen many loan applicants only re-date the document. This is fine if nothing has changed, but there is a good chance of having things. Re Lee the full document in great detail before resigning. In some situations may need to pledge personal collateral for a loan. If you put a greater amount of money in cash and are reserved for the payment of taxes, you could create an obstacle for your approved loan. If active on your personal financial status are "reserved", so indicate.

Read all contracts before signing and then read them. If you don't understand something, to attend their directors of confidence (banker's Attorney, CPA, Manager of business) for help. Once you think that you understand the contract, explain it to your advisor to make sure that really covers all the details. Set aside a small detail or that incorrectly indicated could potentially costing billions of dollars.

Remember: No matter how long someone has worked for you or how relevant they are, everyone makes mistakes. Make sure that the error of another person doesn't cost you or your company.

Sam Thacker is a partner in Austin Texas based on business finance solutions
Direct email: sam@lesliethacker.com
Twitter: @ smbfinance

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Create a Board but leave investors head around

Investors money often comes with conditions attached. When an investor requests a seat to your Board of Directors, are you ready? Here's how ja-- properly and carefully say!

Do you love, be your own boss, but investors will love it in your company, to?

The venture capital - or even just a few thousand dollars of MOM and dad often comes attached conditions.  Are you questions ready for investors for a seat on the Board of Directors -, even if you don't have one yet!

Julia Stamberger, co-founder and President of the go picnic, spoke with me about a round of capital and a new Board of Directors - in their young Chicago food service business.  (If you haven't seen it, go sells picnic snack boxes for airlines.) (You've eaten probably their food O'Hare Airport on your last trip by was!)

Julia was lucky, several investors, including becoming angels and VCs. But the Board wanted all of them seats..., even if the company had not yet a Board!

What do they really want?

Code asking for a board seat may be for something else.

What investors usually mean is that she want the right taxes, is used as their money. They want to be consulted the financial reporting, and they want changes in the business plan. What they may not want, is the risk and liability of Board seats (which you all to look at good reason will give your company's insurance).

Should you do it?

I say firmly, Yes! The expertise and the supervision of a Board is provided invaluable. If your investors are Angel, in particular, it is likely that you great advice on a number of issues that you could otherwise to travel.

But hang. There is a difference between a member of the Board and a boss. The control that should give you to an investor include not daily decisions. If you have investor approval for each decision - as if buy paper clips to search! -You are in dangerous territory for the investor and headed the company.

Consider alternative

When granting a board seat fits the situation (or your temperament), tell a friend about Board "Observer status". This avoids liability while retaining the investor "Insider's view" of the operations and financial performance.

Or to avoid the whole Board experience by entering into a simple contractual relationship with investors. It is possible that an investor money to take and use it for "Project Finance" or a small "joint venture" between you and the investors to create. These solutions could give an investor some control over only a piece of the company and let you free to be your own boss.

Go picnic granted two Board sit Julia to their investors. And she is glad that she did. Reported a Board to each quarter their concentrated has kept up on results. "Financial reporting them for [is] not by a different part of your business", she said. "It is great to have the discipline [of reporting to a board]." "It prioritizes the things that are important for your business."

Devilish details

Investors make the best Board participants, because its aims are to work closely with your Alighned. As a bonus, they are offset often only by gains on their investments instead of salaries or fees. Such information is important. Make sure that every aspect of their participation fees on voting rights to negotiate when sessions will take place. Clear expectations to the front with save you a lot of future headaches.

Flexibility and efficiency are also concerns about the Board of Directors. The most effective cards mix investors, founders and pure outsider. Decisions blocked three, five or seven members, avoiding. A small, balanced Board offers the agility and skill necessary to contribute to a growing company.

I think that almost any company from the Board can benefit. They take careful planning and a little work, but they can click directly on rapid growth. So if an investor requests a board seat, smile you and welcome you aboard!

Dedicated to their profits.

David Worrell

PS: I am the owner of a company just like you. I'm also a fundraiser and social network Maven! If you are looking for money for your company, please visit my site where readers of AllBusiness.com have a special page and exclusive access to business finance resourcesfreely. If you write like me, leave a comment below or contact mewhat please.

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10 Ways to motivate your employees cheap

Keep your staff happy, committed and motivated to do their best work day in and day always should be a priority for your business - good and bad.

But that can be difficult when your business does not have the money to deliver big increases, even when it is deserved.

Luckily, motivate the employees does not mean necessarily throwing bundles of money in cash to them. To prove it, we have experts and entrepreneurs to share their secrets of how, with a little effort and creative thinking, can build and nurture a team efficiently, loyal, and workers employed without spending money does not have.

-Charlotte Jensen

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