Incorporating Philanthropy into Your Business

Donating to a worthy cause can be very rewarding and make an incredible impact. Introducing philanthropy into your business and marketing plan can improve your company’s image and give you a great promotion. Companies that give back have a better chance of appealing to the younger generation coming into the workforce and improve their marketing strategy. If you’re unsure of how to incorporate philanthropy into your business, here’s a few ways to get you started:

Find the Right Cause

After you’ve made the decision to get your company into giving back and charity work, you’ll need to find a worthy cause. There are many to choose from, but the best way to decide is to find a charity that fits into what your company is all about. Meaning if your company produces clothing and other goods, find a cause that donates goods to people in need. The closer the cause is to your company, then you can make a larger impact. Take the time and do enough research to find a perfect charity that needs your company’s help.

Host a Charity Event

Finding the perfect charity is only the first step. You can go the easy route and simply make a donation to the cause. Going the extra mile instead will not only give a charity the help they need but also put your company in a better light. Consider collaborating with a nonprofit organization, plan an event to raise awareness and bring in more donations for the cause. This is a great way to market a new product or program of yours, but also encourage others to give back.

Include Every Employee

Incorporating philanthropy into your business should be a team effort and include all your employees. Volunteering and bringing everyone together to give back will improve the workplace environment and give your employees something they support and share. Make sure to get employees and customers engaged in your giving project or charity event. It’s important to collaborate with each other. When everyone is involved, a bigger difference will be made.

Focus on Giving Back

When getting your business involved with charity work and giving back, don’t look at it solely to improve your marketing strategy. The point of volunteering should be to help a cause that you are passionate about. It’s better to actually make a difference more than just promoting your business. It will inspire your employees and customers to see you passionate about helping and charitable giving. Understand that too much self-touting can come across as fake and insincere. It may even have the opposite effect and put your company in a bad light. It’s acceptable to mention your business, but be sure to keep to focus on the charity you’re helping.

The Trend of Coworking Spaces

Over the years, businesses have found new ways to improve work and efficiency. Nowadays, up and coming entrepreneurs are choosing a coworking space instead of traditional workplaces to begin their startups. More and more companies are also adopting this kind of work environment in their new locations. There are now many trends emerging in coworking spaces:

CHANGE IN REAL ESTATE
With more and more businesses opting for coworking spaces, there will be a change in the real estate and location trends. There is no longer a desire to have a lease that lasts for ten years and staying in the same building. Instead, companies are choosing spaces with a short lease and moving every 18 or 24 months. They’re also moving to new locations. For years businesses would choose metropolitan areas to set up their companies. Now there is a trend of coworking spaces taking residence into the Midwest and smaller cities. As coworking becomes more popular, offices are moving to new landscapes and areas.

BETTER COLLABORATION
A coworking space offers an open atmosphere for employees to collaborate. Instead of being closed off and working completely independently, they are able to bounce ideas and objectives off each other in real time. By working semi-independently in a coworking space, there is better problem solving and more creative thinking. This offers better communication between every employee and everyone is on the same page. It also encourages better teamwork and spaces become much more goal oriented. Coworking spaces produce an innovative and forward-thinking workplace.

UTILIZING TECHNOLOGY
Technology has always shaped and revolutionized the workplace. Coworking spaces tend to utilize technology more efficiently and effectively. The use of technology can help a business avoid problems and create a superior experience. An open environment with a high volume of technology has better communication and faster performance. These coworking spaces are also introducing more tech experts as vital team members. The tech expert of the office responsibilities will usually consist of the connection to all the API’s, set up the IT infrastructure, set up security cameras and handle data security.

Coworking spaces are quickly taking over the commercial business world. The benefits and efficiency of this kind of workplace are making coworking spaces the future. As coworking spaces take over, more and more trends will begin to surface and revolutionize business and industries.

Erich Sollman on The Trend of Coworking Spaces

CHANGE IN REAL ESTATE

With more and more businesses opting for coworking spaces, there will be a change in the real estate and location trends. There is no longer a desire to have a lease that lasts for ten years and staying in the same building. Instead, companies are choosing spaces with a short lease and moving every 18 or 24 months. They’re also moving to new locations. For years businesses would choose metropolitan areas to set up their companies. Now there is a trend of coworking spaces taking residence into the Midwest and smaller cities. As coworking becomes more popular, offices are moving to new landscapes and areas.

BETTER COLLABORATION

A coworking space offers an open atmosphere for employees to collaborate. Instead of being closed off and working completely independently, they are able to bounce ideas and objectives off each other in real time. By working semi-independently in a coworking space, there is better problem solving and more creative thinking. This offers better communication between every employee and everyone is on the same page. It also encourages better teamwork and spaces become much more goal oriented. Coworking spaces produce an innovative and forward-thinking workplace.

UTILIZING TECHNOLOGY

Technology has always shaped and revolutionized the workplace. Coworking spaces tend to utilize technology more efficiently and effectively. The use of technology can help a business avoid problems and create a superior experience. An open environment with a high volume of technology has better communication and faster performance. These coworking spaces are also introducing more tech experts as vital team members. The tech expert of the office responsibilities will usually consist of the connection to all the API’s, set up the IT infrastructure, set up security cameras and handle data security.

Erich Sollman on Incorporating Philanthropy into Your Business

Find the Right Cause

Host a Charity Event

Include Every Employee

Focus on Giving Back

2018’s Best Non-Profit Themed Podcasts

Who doesn’t love a good podcast? These online and on-demand radio shows offer accessible entertainment for long commutes, slow paperwork days, and even hours spent at the gym. As the proliferation of podcasts continues to change the way we consume entertainment and information, there are more choices than ever before. Not to be left out, the nonprofit sector is now well-represented in the burgeoning field of podcasts. Offering practical strategies as well as inspirational stories, these podcasts are sure to please any charity-minded consumer:

TINY SPARK: This nonprofit news program now features a podcast that summarizes the latest news in philanthropy, international aid initiatives, and social work across the globe. Founder Amy Costello leads the charge into the investigation of many organizations while providing in-depth reporting and expert interviews.

THE GROWTH SHOW: This inspiring podcast features the stories of companies on the brink of collapse that came back stronger than ever. Hosted by the Hubspot, this podcast focuses on growth — the growth of ideas, growing a team, and growing a movement. Everyone loves a good comeback story, and this podcast features some of the best of the bunch when it sits down each episode and unpacks how these companies made a comeback.

NONPROFIT LEADERSHIP PODCAST: Dr. Rob Harter’s podcast features real stories from leading non-profit experts relaying tips and strategies about how to best lead a business geared at helping others. In addition to the practical strategies, the show proves to inspire others with each episode as it highlights some of the most impactful programs in the world.

INSPIRING SOCIAL ENTREPRENEURS: Fergal Byrne leads this inspirational show focused on highlighting the most successful nonprofit leaders who are committed to their cause and building a better world for everyone in the process. By sharing their tips and stories, the podcast aims to help social entrepreneurs at every stage of the process, regardless of age or experience.

THE TIM FERRISS SHOW: As the world’s leading business podcast, The Tim Ferriss Show features a myriad of leaders and performers from nearly every industry on the planet. From sports to performing arts to business and more, Ferriss uses this forum to pull out the tools and routines these leaders use to generate success in their field. By focusing on both practical tips and inspirational practices, this podcast is sure to leave its listeners ready to take on the world and improve the lives of others.

Sustainability Needs to Be a CRE Priority. Here’s Why.

Sustainability may once have fallen under the niched purview of West Coast hippies and environmentalists, but it’s assuredly packed up its metaphorical bags and moved to the big city now. As millennials continue to enter professional industries, so too does their employers’ interest in sustainable real estate continue to grow. Younger companies – or even companies with a higher number of Millennial employees – want to know what they can do to cut costs and maintain an eco-friendly office. According to a 2010 McGraw Hill Construction-CBRE Report, a full 79% of surveyed commercial building owners believe that “green” buildings attract more tenants than traditionally-outfitted properties. But is this interest just a flash in the pan, or a real shift in the market? I tend to lean towards the latter. For those of us in commercial real estate, sustainability is more than a last-minute conversation point or novelty add-on to bring up at the negotiating table; it’s a real factor that stands to shape the future of our field.

This might seem like a bit of an exaggeration; after all, what difference might a few solar panels and energy-efficient taps do for an office building? Not much – but when we discuss green design, the creativity doesn’t stop with a few strategic installations. “Green” offices are designed with sustainability in mind: they rely on natural daylight to supplant fluorescent bulbs, open floor designs to optimize space usage, green plants to lighten the corporate atmosphere, and optimal ventilation to improve climate control and improve air quality. These may sound like small changes, but they make a significant difference; according to a study conducted by the World Green Building Council, simple sustainability measures like these “can […] have a dramatic impact on the bottom line by improving employee productivity and reducing absenteeism, staff turnover and medical costs.” Thus, the savings sustainable measures enable aren’t just in utilities, but also in revenue gained by greater employee engagement. With this in mind, we need to stop asking ourselves how much buying into the sustainability movement will cost us, and instead wonder how much we stand to lose in potential productivity if we don’t invest in green measures.

All this said, putting a sustainable philosophy can be easier said than done, especially for those in traditionally-built properties that lack the advantage new “green” constructions provide. However, these older properties aren’t completely out of options; landlords and tenants can agree to sign a sustainably-focused, or “green,” lease. These documents outline goals and sustainability expectations for both parties, and can serve as an easy way to integrate environmentally-friendly philosophies into daily practice. A 2015 IMT report estimated that if the whole of the U.S. office market implemented green leases, it could stand to save around $1.7 to $3.3 billion annually. That said, these do have their flaws: it can be difficult to retroactively add a sustainability clause into existing lease, and even harder to enforce expectations once the paper is signed.

Integrating sustainability is a task more readily within reach for investors and companies who want to build a campus from the ground up. Microsoft, for example, recently opened a sustainable campus in Silicon Campus that prides itself on having a net-zero wastewater system that leverages a minimal impact on the local ecosystem. Though most investors and smaller companies likely won’t go as far in pursuit of their eco-friendly goals, their example is certainly one to strive for – and take note of. Sustainability is here to stay; if investors stubbornly cling to traditional building modes and forgo eco-friendly measures, they may just find themselves outmoded and overlooked by a new class of sustainability-minded tenants.

*Originally posted on ErichSollman.net

Tips for Making Charity a Family Priority

Every parent wants to raise their children to be generous and thoughtful. In the crush of day-to-day struggles over arranging for afterschool sports, homework, and family time, however, thoughts of charity or community work can understandably wilt by the wayside. Instilling a passion for charitable giving and empathetic work can be hard – but if parents make cultivating that thoughtfulness early on, it isn’t impossible. Here, I take a closer look at some simple tactics parents can take when teaching their children the value of a charitable mindset and lifelong empathetic giving.

Start Young

Like most other lifelong practices, it’s easiest to teach a child to value philanthropy at a young age. Consider making charitable action a yearly tradition! If you make a point of bringing your child to volunteer at a soup kitchen every holiday season, he or she will come to expect – or even look forward – to it each year as they grow. Conversely, an older child who doesn’t have any experience as a volunteer might complain or try to avoid giving their time. Start prioritizing philanthropy early!

Lead by Example

Your children want to emulate you. If you make a point of giving, your children will begin to embrace charitable action with you. Make it a family activity! Go through your closet in search of clothing to donate, and encourage your children to do the same. Then, ask them to accompany you on the way to your local dropbox or giving center. By making them a part of the giving process, you imbue them with a greater interest and sense of satisfaction than they would have gotten had you simply taken clothes from their closets yourself.

Get Involved With the Neighborhood

Encourage your child to be a good neighbor! If you have an elderly neighbor who might need a helping hand to do the yardwork or bring up the paper once in a while, ask your child to lend a helping hand! These contributions will help them develop empathy for others and inspire them to think beyond their own daily interests.

Start a Family Charity Jar

Who doesn’t love family giving? Start a family charity jar, and encourage your children to donate a little of their allowance to it each month. After some time has passed, you can sit down with the family and collectively decide on a charity to donate the accrued funds to.

Charity is a lifelong value that needs to be learned young. Try these tips to help your child understand the value of philanthropy!

*Originally posted on ErichSollman.org

Making Your Office Work For You: Designing Your Corporate Space

It’s no secret that Americans are incurable workaholics. According to recent data from Gallup and CNN Money, an average worker in the U.S clocks in over 47 hours per week. Broken down, that statistic comes to nearly six out of every seven days spent at work. These statistics skew even further in tech-centric hubs in the Silicon Valley, where time spent on the job can extend beyond 80 hours every week. Should we be working less? Maybe – but solutions for America’s culture of over-work will take years, if not decades, to implement. In the meantime, companies have to turn their focus to their hardworking employees and make sure that their corporate offices have the tools and comfort employees need to thrive during high-pressure work weeks. A supportive corporate office needs more than four walls and some desks; real thought always needs to be put into choosing, customizing, and running a corporate location. Here, I lay out some pointers.

Structure

The open-plan versus cubicle-based office space debate is a spirited one. Some wholeheartedly believe that cubicles restrict creativity, make a monotonous environment, and limit positive interactions between co-workers. Others think that open-plan offices contribute to office chaos, prompt distraction, and limit productivity. In the end, the structure of an office contributes to company needs and culture. Is the work the business conducts collaborative, or independent? Does the company have a creative atmosphere that could benefit from the organic interactions an open floor plan creates? Or does the business call for a more cordoned-off structure that allows workers to focus on their individual workloads? Don’t let trends determine your structure – consider your company’s needs before settling on a space!

Technology

Every business should be outfitted with up-to-date technology. A fax machine and copier just won’t cut it anymore; today’s offices should be equipped with speedy WiFi, data sharing technology, and video conferencing equipment at the very least. Having these tools on-site will do wonders to attract and aid millennial workers used to working with such devices. However, some care must be taken to support older employees who may not grasp the machines as intuitively as the younger workers. Lastly, make sure to work within your budget and needs. While the cost and bother of a 3D printer might seem well-worth it to a thriving architecture firm, it probably won’t be nearly as helpful to a tax consulting company. Limit technology purchases to the necessities!

Environment

Every office needs the basics: enough light, clean air, climate control, etc. However, the sum of a corporate environment goes far beyond a worker’s minimum needs. Think: how awful would working in an undecorated, windowless, and bare cubicle be? Depressing spaces lead to disengaged employees and high turnover – so decorate your office! Make sure that your employees have access to natural sunlight, and maintain a tasteful but professional decor in the space itself.

Convenience

Employees have lives outside of work. Regardless of the role they play in the company, every worker needs to park, find food, and – sometimes – locate child care in the vicinity. Office parks are typically best-equipped to meet employees’ personal needs; however, not every company can afford the cost of buying space in a trendy office park. This said, companies should make a plan for parking and other amenities before welcoming employees into the space.

*Originally posted on ErichSollman.net

Are Co-Working Spaces Right for You?

Is the traditional office on the way out? For entrepreneurs on the West Coast, it just might be. Over the past few years, co-working spaces have risen to prominence as trendy alternatives to the conventional office space. Now, small businesses and individual-run ventures don’t need to pour the lion’s share of their profits into maintaining a single brick-and-mortar location. By opting for co-working arrangements, entrepreneurs and independent employees can simulate the productive environment of an office without the expense and logistical bother purchasing a dedicated office space entails. These co-working arrangements function in a number of ways; in some smaller communities, large businesses might lease out their excess office space to one or more smaller enterprise. In larger cities, dedicated co-working spaces are common and readily accessible. These trendy “offices” are typically run by a dedicated company and operate like a club: by paying their dues, members earn access not only to the space, but also to costly office resources (i.e., printers, copiers, and conference rooms) and entry to networking events hosted by the site.

But as trendy and useful as a co-working arrangement might sound, the model does have some serious pitfalls. Ultimately, businesses will need to assess their needs and resources to determine whether a membership, sublet, or traditional office space best fits their needs. Here, I outline a few of the pros and cons to consider before buying into the co-working trend.

PROS

Affordability
Tech giants have sparked unprecedented economic growth across the West Coast. Jobs are many and readily available in cities such as San Francisco and Seattle as software-based startups open their doors. But this growth has come with one significant flaw: Real estate prices. The sheer expense of dedicated office space in a tech hub city is enough to make a small business reconsider setting down roots. The monthly fee co-working arrangements ask are cheap by comparison, and stand as a feasible alternative for businesses that lack the resources to buy into a traditional space.

Professionalism and Flexibility

The last place an entrepreneur wants to discuss business is over their mother’s kitchen table. While many startups begin in an entrepreneur’s apartment or a local coffee shop, they shouldn’t grow there. At some point, every promising business needs to migrate to an office space to thrive, especially when founders begin to meet with investors and consult with clients. Co-working spaces offer the staples of a traditional office within a flexible framework: printers, copiers, cubicles, conference rooms, and – depending on the space – access to mailing services are all available to coworking members.

Social Environment

Anyone who has worked from home knows that most of the time, you just don’t get as much done from your couch as you would in a cubicle. Co-working spaces are inherently social; they encourage peer productivity and offer opportunities for entrepreneurs to network and socialize with like-minded professionals.

CONS

Cost

Co-working spaces are less expensive than traditional office space – but that doesn’t make them affordable. Memberships can cost anywhere from $300 to well over $500 every month, and pose a significant financial barrier to entrepreneurs who lack the profits to afford the expense.

Distractions

Many collaborative spaces are laid-back and social. Professionals bring their dogs, members chat across desks, and the coffee station bustles. Ultimately, the beautifully-decorated and casually social environment that drew you might just be chock-full of distractions that utterly prevent you from getting work done.

Logistical Challenges

Have a conference room nearby is wonderfully convenient – unless it’s been booked up for a week. Unfortunately, those who use co-working spaces as their primary offices need to deal with logistical challenges that those in traditional spaces don’t. Members are constantly vying for access to needed resources such as copiers, conference spaces, and printers. This might be find for some, but for others, the situation might turn embarrassing – especially if they find themselves needing to conduct an important conversation with a potential investor in a public cubicle.

On Your Side: Benefits of Tenant-Only Representation

Finding a commercial office space that meets your company needs and budgetary restrictions is often a long and grueling process. In the face of seemingly endless deliberations and ever-increasing options, it can be tempting to sign on with the first commercial real estate representative a potential landlord suggests – and at first thought, the connection makes sense. Theoretically, a shared representative would have a full understanding of both parties’ needs and be in a position to hammer out a reasonable compromise. Given the bias a landlord’s representative naturally has for their employer’s interests, however, this rarely works out well in practice. CRE tenants need to safeguard their own interests by looking beyond the immediate options and finding a broker who specializes in tenant representation. Here, I outline just a few of the benefits of bringing a tenant representative onto a commercial real estate case.

Motivations

The best real estate brokers are phenomenal communicators. They listen as you outline your company’s needs and finances, and are forthright in assessing the problems inherent in a space. However, even trustworthy brokers can steer you wrong if their first loyalties lie with the landlord. Think of it this way: while the representative may want to give your case a fair shot, their paycheck ultimately comes from the landlord’s wallet – therefore, they need to maneuver showings, negotiations, and closings to fall in their employer’s favor, even if such a deal is less opportune for you. A dedicated tenant representative, however, is ethically bound to look out for your interests. They won’t be obligated to push you towards a specific property, or encourage you to take terms that put the lesser’s interests above yours. A tenant rep focuses solely on meeting your needs and interests, and is thus better able to get you the deal you want at the negotiating table.

Thoughtful Advice

Tenant representatives know the landscape. As market experts, they will be able and willing to tell you how much a property in the area should cost and whether a any given quote is reasonable given the market. But a tenant rep’s value doesn’t simply lie in knowing the market – part of their skill set lies in understanding their clients, as well. An office is more than four walls and a line of desks; it is a physical home for the company’s mission and values; a place to foster the business’s culture. A good tenant rep can think beyond simple budget and area requests and find a space that suits the spirit of the company in addition to its logistical needs.

Project Direction

A good tenant representative’s job doesn’t stop when closing papers are signed. Once a company leases a company space, it needs to design and outfit their office to suit their needs. This process is a complex one, requiring the aid of a number of outside contractors and consultants. A tenant rep can take point on managing the project or simply connect their client with trusted architects, contractors, IT vendors, and other needed third-party businesses.

In the end, a tenant representative is always valuable: they help guide their clients through a plethora of options, fight for their interests at the negotiating table, and close out the process by aiding in the office’s final design and launch. The success of a company branch starts with finding an ideal commercial space – so why not give your business its best shot by enlisting the aid of a tenant representative?

*Originally posted on ErichSollman.net