Financing For Your New Business

Financing is an integral part to getting your business off the ground and growing it over time. Knowledge about the finances of your business is essential to its success.

Every business needs capital at some point to start up or expand.  The next most frequent source of funding is to look for some kind of business loan. Find federal, state and local governments financing programs to help you start and grow your operation.  Several state-sponsored financial assistance programs are available to firms locating, expanding or modernizing facilities in California.

Check out what‘s offered at your Small Business Development Centers.  Or do a research and explore loans, grants & funding for small businesses.  SBA is not the only source for small-business loans.  There are state and local economic development agencies as well as nonprofit organizations who  provide low-interest loans to small business owners who may not qualify for traditional commercial loans.

There are also grants from the Federal Government available. Grants from the federal government are only available to non-commercial organizations, such as non-profits and educational institutions in areas such as, medicine, education, scientific research and technology development. The federal government also provides grants to state and local governments to assist them with economic development.

If you are not one of these specialized businesses, both federal and state government agencies provide financial assistance programs that helps small business owners obtain low-interest loans and venture capital financing from commercial lenders.

Using the Social Media to Promote Your Business

There are some people that think "social media marketing" is just the latest buzz in marketing.The truth is that you can actually use these sites to market and promote your products and services. Social media is all about interacting with colleagues, potential customers as well as current customers. Statistics show that there are approximately 1.4 billion of Internet users worldwide. And every year, it is always increasing, with increasing hours of Internet consumption in a week. This goes to show that majority of the people nowadays are online.
It’s important to have content on your social media pages before you start adding friends and followers. When you try to find friends, they’re going to look at the page to see if they want to follow you. So you need to give them a reason to follow you first. Provide valuable information about the industry. Post pictures of your business or people enjoying your business. KEEP EVERYONE IN THE LOOP: All of your company’s employees are your valuable assets. Hence, when you are chalking out a social media business strategy, you would want to be sure that you are involving them as well. These are your best bets for spreading the word about something that your company produces or is involved with. Nobody likes to be thrown out while they are trying to enjoy talking with their friends and viewing some of their Tweets. Therefore, if someone follows your account, then do not interrupt their news feed all day with your promotions! Take part in some discussions that are being held amongst other relevant businesses and consumers. This way you will be able to give feedback on their conversation and then maybe even meet new potential customers. www.vannuysoffices.com www.99dollaroffices.com

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What to Consider Before Signing an Office Lease

Renting commercial property proves expensive and is a tremendous responsibility. If you have never rented office space or buildings before, there are some important facts you need to learn. Change is exciting, and leasing space for the first time or moving an established business is a new chapter in a company’s history. Doing some legwork now will help ensure you’ll look back at this time with good memories, not regrets.

 1. CHOOSING THE PROPER SPACE FOR YOUR BUSINESS: The perfect way to judge is ask to examine the office space before you start negotiation to determine whether it befits your requirements or not. Make sure that you are satisfied with overall space and are able to meet all your needs. Insist on viewing all the empty offices just in case one comes with a store room as well as a kitchen.

2. WHAT IS INCLUDED IN THE RENT: Are there any special taxes, property fees, load fees, CAM or other fees? Any utilities or services (landscaping, security, etc.) are covered in your lease, or that you are required to pay on your own? If so, get them in writing. Make sure each fee is identified individually, how much each fee will cost you, and how often you will have to pay the fee(s).

 3. FLEXIBILITY OF THE LEASE TERMS: This first office lease will probably be one of the bigger commitments and liabilities of your business. Make sure the lease term is flexible and is within your budget based on current cash flow not future projections. Most small businesses start with a one-to-two-year lease, although in this economy, month-to-month lease may be more readily available.

4. WILL MY RENT INCREASE WHEN MY LEASE EXPIRES: How much can your rent (and any other fees) be raised each year? What is the maximum percent or dollar amount your rent and other fees can be raised each year? If there is a 1% cap each year on load fees, that may sound reasonable, but this does not mean your base rent will be capped at 1%. To make up for low caps on other fees, your landlord may try to stick you with a 15% rent increase.

5 Mistakes People do When Renting Their First Office

How to prevent them...

Renting office space can be complicated because it’s difficult to tell what needs your business will have a year, or five years, into the future. If you’re considering renting office space for your business, it’s necessary for you to understand how the process works.  Renting the proper amount of space, in a location that suits the business, sometimes involves making a gamble. Remember, though, that the property owner doesn’t share in this risk-taking, and it won’t be his or her problem if the office turns out not to suit your needs. Below are 5 mistakes that can often be made when renting a new office space, and can be easily prevented:

•   Make Sure Premises look Professional:   Don't underestimate the value of appearance. Depending on how your office looks is how your customers will see your business.  If your office doesn't look professional than chances are your customers won't take your business so seriously.  Look for something nice and not expensive.  Check out an office from Van Nuys Offices, they have a variety of offices available for any type of business use and their offices have a professional atmosphere.

• Negotiate the Price: Offices in places hard to find offer lower rent prices than those within easy reach of amenities and transportation. Yes maybe this is how much you can pay and all the other offices are off your budget. But will your customers be able to find you. Negotiate the price on an office easy to find. It won't hurt by asking. 

• Signing a lease: Signing a lease for renting office space isn’t something to be taken lightly, and it can have serious consequences on the success of your business. Before you sign a lease or agree to rent, make sure you have an attorney in your area look it over to ensure your rights are protected fully and that you understand all clauses and obligations contained within the lease. Van Nuys Offices has a set flexible agreement, so you are never tied into a long term agreement and can change your office space as your business requires.

  

• Not Verifying Building Mobile Phone Reception:  In today’s environment, data, power, networking, and HVAC capacity and availability are crucial. We all experience weak signals on our mobile phones at some times in particular places as we go about our daily lives, but it's a major issue if each and every member of staff has issues making use of cellular devices and smart phones from the work environment. You should ensure that the building you intend on occupying is capable of providing the network connectivity and other building systems necessary for a your business operation before signing any lease.

• Not Designing the New Space Prior to Lease: Many companies fail to consider their future business requirements when looking for office space and they end up outgrowing the office space before the lease is even up. Ensure you have enough space for additional employees or equipment when calculating how much office space you will need.
  
  
  

Office Spaces for Rent in Van Nuys

Want to start a new business but dont know what to do?

The best advice Van Nuys Offices can give someone who is thinking about opening a new business but don't know what kind of business is to find something that you know and enjoy doing and figure out a way to make money with it.  Starting a business is a lot easier said than done.

Not knowing what business to start and not knowing where to start is the most common reason that keeps people from starting.  Coming up with an idea is the first and most intricate step. First question you have to ask yourself is:  What is my background and how much experience do I have?  What do I already know that would help my business grow? The more you know the better your chances to succeed.  Do you have a hobby or personal interest that could be turned into a small business?  Do what you are passionate about, what you love to do not what works for someone else. Do not let someone else talk you into a given business, or let them tell you about the dismal economic climate when starting your own business.

While you might think this is a bad time to start a business, there is still money to be made despite the, economic climate but the key is you need to start a business that can do well even in tough times.

Be prepared to succeed and change your attitude towards failure and expect your business to grow successfully.

And once you have decided what it will be and you're ready to start.   Give Van Nuys Offices a call so they can help with your first small business office.

Office Equipment for Your New Business

Equipment for your New Business

Starting up a business or office will require both office furniture and office equipment. All savvy business owners know they have to make the most of their cash flow in this ever-changing economy. And business owners still need to keep growing, expanding and have the most current, up-to-date technology available. Purchasing office equipment will most likely be your second largest startup expense. It's often hard for the business owner to justify spending the upfront capital needed to get the right office equipment. But don't forget that you also have the choice of leasing office equipment. That's why leasing computer equipment is one of the best ways to keep money in the business and stay current in the always changing world of technology. If you plan carefully you will be able to control your office equipment expenses by only buying the most necessary equipment.
·        Telephones:  This should be the first purchase your office will need, for both the present and the future. This means you will need to do some research and if using a telephone plays a major role in your everyday work then you will need to find one that can grow with you as your business grows.


·       Computers:   When buying your computers try shopping around ask questions. Which one will work for my type of business? Do they last a long time? You want to make sure you buy smartly so that you dont have to constantly be buying computers


·         Printers:  Monochrome laser printers offer speed at an affordable price, while color laser printers, although more expensive, are now within the budget ranges of many small businesses. If your small business has limited printing needs, you might be able to get by with a multifunctional three-in-one printer/copier/scanner. But take in mind if one of the components goes bad then the rest are bad also because you wont be able to use the other components cause its being repaired

·        Digital camera:  Many businesses today are finding that a digital camera can be beneficial for product marketing, promotion, and other business needs. For this reason, purchasing a simple point-and-shoot model is a good idea.

Let Van Nuys Offices help you jump start your new business

Let Van Nuys Offices help you jump start your new business.

Starting a business in this economy is a risk some entrepreneurs are taking. But it would be a mistake to let negative headlines prevent you from following your dream of starting your own company. In fact, many experts and Van Nuys Offices suggest that launching your new business during a down economy can actually be a savvy move. Money is always a concern when starting a business, but the impulse to be thrifty may be more acute during this economy.

At first, it may seem intimidating to think about starting up your own company in a recession, but experts cite a number of successful businesses that were launched during difficult economic times. Examples include Hewlett-Packard, which started up in the Great Depression, and Microsoft - launched during a recession in 1975.

Consider ways you can reduce the start-up costs associated with your business, such as renting equipment instead of buying or searching out second-hand furniture. You may also want to think about working out of your home and renting a virtual office from Van Nuys Offices.

The good news is that suppliers may be more willing to make discounts or strike a deal in a challenging economy. Also, commercial real estate may be going for less than it would in other situations. Don't be afraid to negotiate for lower prices.

Remember small businesses represent 99.7 percent of all employer firms.

After opening your new business

So where do you start if you just opened your business and are looking for new customers? Learning to generate new sales leads is an essential skill for an entrepreneur. Whether you’re in the service industry or the product business, you need to sell, sell and sell some more.


Opening up a new business with a fresh start with no issues other than figuring out what and how to do it under today's conditions may be an easier challenge than you think.  Before you can find new customers and increase sales, you need to understand who your customer is, what value proposition you offer to customers, and what your competition is currently offering in the market. "Attracting more customers is really about listening to their needs, not being a solution looking for a problem".

STEP 1

Your customers are your best source.  Listen to their suggestions or their needs.  Solicit their opinions to find out how you can improve your business.  Trust me all customers always have something to say on how to improve your line of products.

STEP 2

Networking with other businesses through social media can do wonders for increasing sales, but the importance of this is often overlooked by business owners. Perhaps it is due to lack of time, knowledge or confidence, but owners need to be bold and brave when stepping out of the box. Not only is networking free advertisement, but it is also a great learning tool.

STEP 3

If your business starts picking up and you're short staff.  Don't be afraid taking the risk of hiring another person.  What's the worst that can happen.  Or if more equipment is needed to fulfill all demands then go out and look at your options.  You don't always have to buy office equipment, there's places that rent equipment.

STEP 4

Your business finally picked up and the office you're in is now too small.  Don't hesitate to call Van Nuys Offices they will be more than happy to assist you with an office to accommodate yours and your customers needs.

Scared of starting your own business?

People always wonder if this is a good time to start their own business. The fact is, there's really never a bad time to launch a business. It's obvious why it's smart to launch in strong economic times. People have money and are looking for ways to spend it. But launching in tough or uncertain economic times can be just as smart. If you do some research and there's a high need for the business you're starting. Because many people are reluctant to launch in tough times, your new business has a better chance of getting noticed. And, depending on your idea, in a down economy there is often equipment (or even entire businesses!) for sale at bargain prices.

When you start a small business you face lots of challenges. In order to improve your chances of beating the odds, what is important is that you educate yourself about business development. Starting and running a business, or any form of self-employment, requires a range of skills and attitudes. It can be very demanding.

It’s important that you understand all the responsibilities you’ll have, and as many of the foreseeable challenges as you can. On the other hand, it’s also important to recognize the rewards of working for yourself and providing a quality product or a needed service to your customers and the community.

Working from home might seem to be cheaper than leasing or renting an office space, but in the current climate with lots of property available, office space rental isn’t the costly exercise you might think it to be. In fact, thanks to the recession, many landlords are simply eager to lease out their dead office space, and so as a result, prices are actually more competitive than ever. You’ll be surprised at how cost effective this option can be and the extra benefit with renting an office space from Van Nuys Offices with one of their short-term contracts It also allows convenience and flexibility, which are both essential things when a business is in its developing state. Shop around, take a look at the deals – it could be the best thing you’ve done to date.