Tech companies continue to see a high rate of growth. Unfortunately most tech firms can't predict how quickly they will grow or how that growth will affect their current real estate.
THE TOP 3 TECHNOLOGY FIRM GROWTH ISSUES:
1. BAND-AID - You have experienced growth so you have expanded then expanded then expanded. What you have now is a mess of inefficient space that most likely you paid over market to occupy. But don't worry...your Landlord just sent you a new stainless steel grilling tool set and said he was giving a discount on the latest amendment.
2. FLAVOR - Every firm has a flavor, better known as a culture. Many tech firms are too busy growing that they can't take the time to establish the right culture for their team. To grow the right team you need to attract the right attitude for your brand. In addition to having the right amenities, design/layout and furniture where your brand lives.
3. SPOT - Your spot on the map is critical. Are you in the right location? Have you done a scattergram study to see where your team lives, where your customers are located and where you could locate to attract the strongest and brightest team? Location, location, location, it is important to Cracker Barrel and yes it should be very important to you.
The solution, open your cloud file storage and download your existing lease document. Chat, message or email one of our team members to learn how to maximize your current situation, right size your space, redesign/reconfigure or start evaluating relocation opportunities.
Pittsburgh continues to be a major hub for the tech sector. Carnegie Mellon University (CMU) graduate programs rank No. 1 in Computer Science, No.2 in Information Systems and No. 3 in Computer Engineering. Nearly $1.8B in venture capital has been invested in emerging regional businesses in the past decade. Wage rates are at 96% of national average; a low cost of living makes the region a competitive and cost-effective business location.
We have had the pleasure of working with many growing tech firms in the Pittsburgh area such as Innovation Works, Intermedix, Oracle, Netronome, ModCloth and AlphaLab Gear.
Check out other posts that may interest you:
- How To Determine If You Have Too Much Space
- Top 4 Reasons to use a Tenant Advisor
- Land Acquisition Site Feasibility
- 20 Questions Planning for 2016
- Strategy – When You Need Us
- Lease or Purchase?
- Conflict Of Interest
- Is a Big Deal Good For Your Deal?
- Can the Same Attorney Represent both Parties?
- How Do We Get Paid?
- Top 10 Lease Issues Other Than Rental Rate
- 5 Reasons Companies Lose Great Real Estate Deals
- Tips to Save Money on Your Lease
*Pittsburgh data provided by Pittsburgh Regional Alliance