Business

Roy Huddle is our resident lawyer (and ping-pong enthusiast!) here at Business E Suites in Sugarland. Roy got his law degree from the University of Houston, and he might be the ONLY Family Law Attorney you will ever meet who is Pro-Marriage!

Before starting his practice, Roy dabbled as a real estate broker and worked on mortgage lending law. Anyone who knows Roy can tell you that those things were not his true passion. Roy lives to serve others, and although he can do that through any profession, family law is where he feels like he can truly use his strengths to impact people’s lives positively.

The way Roy works with his clients is fundamentally different than most family law attorneys. Roy is openly Christian, Pro-Marriage, and wants to help his clients heal their families and avoid divorces. This is what caused Roy to break off and start his own practice, to pursue what he feels is the right way to do things. When I asked Roy the most rewarding and most challenging times in his journey as an entrepreneur, both answers stemmed from this one big decision.

It was challenging because perhaps he made a move too quickly. Roy hadn’t learned all of the basic fundamental skills and in’s and out’s of family law. Even though he wanted to do things his own way, he could have benefitted from a little bit more time learning and absorbing the knowledge of other more experienced professionals.

In the end, though, it has been an enriching experience as Roy has helped multiple families stay together and grow and improve. It is something he might not have ever gotten to experience if he had stayed with his old job and followed the status quo. Having a job that aligns with your values and lets you positively impact the world is one of the most fulfilling things we can do.

Roy joined us at Business E Suites because he loved the sense of community in the office. It fits the type of environment of love and support that he wants to create within his own business. Also, as a lawyer, Roy needs to work long hours and sometimes late at night. Many other places did not offer the 24/7 access that he needed to get his work done correctly.

One piece of advice that Roy has for other business owners starting out: have a vision and pursue your ideals, but make sure to spend some time learning the industry before taking the leap on your own. He encourages everyone to try and find a mentor that can guide them on their journey.

We love having Roy here at Business E Suites, and we hope to continue building our vibrant community with more members like him.

Entrepreneurship is a more attainable goal than ever. Today, you can sell your products and services to an unlimited audience and, thanks to technology, have the option to work at home or on the go. Finding a place that is good for your productivity is as easy as connecting with Business E Suites. Whether you’re looking for privacy, a co-working space so you broaden networking opportunities, or meeting rooms for your entire team, they have solutions. Call 281-862-3150 to learn more.

First, take a look at the “sharing economy” and a few tips on how to grow your budding business — as well as three mistakes that can squash your success.

The world is your marketplace but not everyone is your customer

Even though you have access to a bottomless people pool, your actual customer base will be small by comparison. But, even a small group of buyers can render a lucrative career if you learn how to define your target market appropriately. You must choose a specific demographic considering factors such as age, income and occupation. For instance, if you specialize in designer wedding cakes that cost $500 or more, you will need to target couples with a sizable disposable income.

Grab your first gig and get started

Just like riding a bike, becoming a small business owner requires a first few wobbly attempts at perfection. Before you dive in, it’s a good idea to work a few side gigs to help you weed out any imperfections in your processes. Social media lends itself well to marketing yourself so you can get that first vital project — without dipping far into your budget.

Slow and steady wins the race

In Aesop’s The Tortoise and the Hare, there was an unlikely winner – the tortoise – who beat his adversary not by being the fastest, loudest competitor, but the one with the most drive and determination. The tortoise kept moving at a steady pace and, when the hare was comfortable enough to let his guard down, became victorious. Business is no different. If you want to succeed, you will need to keep your eye on the prize and work toward success. You may be the best at what you do, but if you take on too much or fail to consider the competition, you are doomed to come in last.

Considering the fact that 20 percent of all businesses fail within the first year and more than one-third by the end of year two, the odds may seem stacked against you. But there are a few things you can do to stack the proverbial deck in your favor. Start by avoiding three of the most common mistakes made by new entrepreneurs, especially those who choose to work from home as an independent contractor or small business owner.

1. Money mismanagement. Cash flow problems account for 82 percent of small business failures, according to Preferred CFO. These financial issues all come down to mismanaged funds. Avoid the temptation to use your newfound financial freedom to invest in yourself. Instead, funnel money into your entrepreneurial endeavor and learn how to price your product or service competitively. Do this for at least one year. Also ensure that you handle concerns like payroll properly; it’s all too easy to miss tax deadlines or not have the right amounts set aside to pay Uncle Sam. Fortunately, you can use a payroll app like Quickbooks to simplify concerns like withholding, direct deposit and tax deadlines. Assemble the right tools for keeping your books on track right from the start.

2. Poor working conditions. Your home office can be an asset or liability. On one hand, you have the freedom to work your own hours; on the other, you may have problems separating your working life from your personal life. Make sure you have the right equipment and set specific office hours for yourself. If you’ve never worked independently, you’ll also need to learn how to navigate distractions such as the refrigerator, social media and the laundry. Scott & Sons notes that something as simple as cleaning off your desk can go a long way toward boosting your productivity.

3. Hiring the wrong help. If you haven’t already and your business is growing, you will, eventually, need to take on employees. This is not a decision to be entered into lightly. While you might want to give your friends and family jobs, they may not be the right people for your business. Your employees are the face of your company whether you plan to stay local or go global. Choose them with care and based on experience, personality, and dedication to you and your business.

No one can guarantee your entrepreneurial achievements. But, if you focus on steady growth, financial responsibility and give yourself the tools you need to succeed, you’ll have a better chance at standing out from the crowd and becoming a samurai of the sharing economy.

Image via Pixabay

Hybrid workspaces combat the 9 am to 5 pm trend that has been the cornerstone of office working for years. Instead, they seek to create a balance between the social collaboration side of being in the office and the flexibility of working from home. Realistically, they are co-working spaces within the same company.

As we adapt to a new normal, the world of work is still evolving, with the concept of a hybrid workspace now emerging. Globally, 37% of companies say they expect more than half of their employees to work remotely on a permanent basis, according to Cisco’s Future of Secure Remote Work Report that surveyed more than 3,000 global IT decision-makers. In the U.S. and U.K., that figure rises to 50%; in Brazil and India, it’s 53%.

No matter what shape each organization’s workforce takes, COVID-19 has highlighted the need for flexibility and resilience. Most companies quickly realize that moving toward a hybrid workspace has even bigger benefits. While cost savings in the tens of millions (or more) are often realized by moving to this new environment, smart organizations are re-investing a portion of that savings back into the workplace. They are adding features that support employees, which leads to productivity improvements that drive better top-line results.

Here are some of the great benefits this new hybrid workspace trend has:

• It enables collaboration: Today’s companies demand unprecedented levels of productivity and innovation to stay competitive. Markets are being constantly disrupted by new players that bring better ideas, so having a modern workspace with the ability to create a diverse environment that encourages people to work together is the new office ideal.
• It attracts new talent: The war for talent is what most companies battle for nowadays, and recruiting the top-of-the-line talent in a modern workspace is a powerful weapon. You’re no longer competing with other companies for top candidates based on salary alone since you can offer a welcoming, efficient and effective workplace where people want to collaborate with others and accomplish their work.

Now the big question, how can companies get started implementing the hybrid workspace? Well, it’s possible to transform your current workspace but really for the best result is to achieve cultural changes and provide efficient, low-cost solutions like a move-in ready office space with all-inclusive amenities that make work enjoyable for your team with a built community and great perks that just makes it fun to come to work.

We have a suggestion for you, Business E Suites! It offers great workspace solutions for entrepreneurs and teams of all sizes. The best part is their move-in-ready office space, with month-to-month options and amazing perks within a community of professionals that have helpful insights on many industries. Need more information? Visit BusinessESuites.com or Call (281) 862-3150.

Business E Suites hosted its third Lunch and Learn Event featuring the topic: Business Funding with Telha Ghanchi, founder of Data Connections and Angel Investor. During these unprecedented times, funding and sustaining a business is one of our first questions as entrepreneurs, but the real mystery is understanding what funding options are available for us? Telha, a small business entrepreneur, tenant of Business E Suites, shared some insightful information about the type of funding a business can get.

What types of funding options are available?

• Trade equity or services for startup help.
• Join a startup incubator or accelerator.
• Solicit venture capital investors.
• Apply to local angel investor groups.
• Start a crowdfunding campaign.
• Request a small business grant.
• Pitch an idea to family or friends.
• Fund your startup yourself.

However, one of the most frequent questions, Telha gets is, “how do I find the money to start my business?” and the reality is that nobody is waiting in the wings to throw money just because you have a new and exciting idea. When seeking professional investors, put significant priority on your previous experience in building a business. They expect to own a portion of the business equity and possibly control the funds they provide. These are tough for a first-time entrepreneur, but it’s always worth exploring.

Learn about Telha Ghanchi 

Shameless plug:  For access to your local co-working location which includes co-working, private offices, dedicated desks, and conference rooms … as well as long term parking, self-storage and warehouse units all in our business park (Imperial Business Park), visit www.businessesuites.com and www.imperialstoragesolutions.com.
Contact Colin Croteau (community manager) for a tour.  Colin can be reached at 281-862-3150

—- April 20, 2021 Jon Banister, Bisnow Washington, D.C

For more than a year, city governments encouraged people to stay home to slow the spread of the coronavirus.

But that message has shifted, and cities are now pushing to bring people back to offices to help revive their downtown areas, and they see coworking spaces as a way to accelerate that effort.

Over the last three months, Miami, New York and D.C. have announced partnerships with WeWork to offer discounts to companies bringing people back to the office. The coworking company finances the discounts without city subsidies, but the cities are using their promotion and marketing power to push people toward the WeWork spaces.

WeWork Head of Public Affairs and Communications Christina Ferzli told Bisnow she joined the company in January and immediately began pushing to grow WeWork’s relationships with local governments by meeting with officials and hearing their priorities, and that quickly turned into this new partnership model.

“‘How do we bring people back downtown to shop, buy lunch and coffee, and revitalize the economic prosperity in these cities?’ That was a key theme for most of the cities we spoke to,” said Ferzli, who had previously led corporate affairs and communications at juice giant Ocean Spray, according to her LinkedIn page. “We realized we could help with that post-pandemic recovery.”

WeWork is planning to expand the partnership model around the country and the globe, Ferzli said. She said it is preparing to announce three new partnerships in the coming months, but she didn’t disclose which cities.

She said the partnerships are aimed at helping businesses get back to the office quickly and affordably and helping cities revive activity in their downtown areas, and the new business also helps WeWork recover from the coronavirus pandemic. WeWork last month announced plans to go public through a special-purpose acquisition company merger valuing the company at $9B.

While coworking companies were the first to feel the pain when people stopped coming into the office, given the short-term nature of their leases, Ferzli said they can also be the first ones to benefit from the return to work.

“There’s never been a stronger moment for flexible office space, and WeWork is so uniquely situated in helping businesses adjust to this new normal and providing turnkey solutions to scale,” Ferzli said. “In helping cities with their economic recovery, we are looking to grow our member base with businesses that need help coming back.”

The New York partnership was announced on March 16, and it is structured as a partnership between WeWork and the chambers of commerce of the five boroughs, with a focus on small businesses. The D.C. partnership, announced March 24, is between WeWork and Mayor Muriel Bowser‘s administration. The Miami partnership, announced on Jan. 21, is with Mayor Francis Suarez‘s administration, and it is focused on technology companies.

Ferzli said she has seen a significant shift take place over the last month in which cities are now focused on promoting a return to the office, rather than telling people to stay home.

“Most cities are targeting the spring and summer for this as we continue to see positive trends in the pandemic itself,” Ferzli said. “Now through the fall is where we’re going to see that bigger push for a return to work.”

Google Maps

A WeWork office at 125 South 25th St. in the Flatiron District in New York.

Manhattan Chamber of Commerce President Jessica Walker said the ongoing rollout of the vaccines has given people confidence to start returning to the office, and the city is now encouraging that return. She said small businesses are likely to be the first to return to the office, as many large companies have already pushed their returns back to the fall or to next year.

“We’re all focused on trying [to] accelerate the city’s economic recovery, and for a lot of reasons, that means we need a large percentage of [the] workforce to begin coming back to the office,” Walker said. “We think it’s critical in the short-term to focus on small businesses and what we can do to get them fully engaged again.”

She said the WeWork partnership is particularly helpful in accelerating the return to work for small businesses, because companies can start with a small space and expand as they build momentum, and they aren’t saddled with upfront costs.

The New York partnership offers two months of free office space for companies that make a six-month commitment, three months for those that make a 12-month commitment. It also offers a one-month free trial and 12 months of 15% for WeWork All Access, a pass that allows members to use any WeWork location in the city.

“WeWork and these types of models are made for businesses that are going to come back with maybe two employees, and then they can move into a larger office in a month or two when they’re ready,” she said. “The specific deals WeWork is offering are steep discounts, so businesses are able to relaunch and not have to pay rent for the first three months of an annual lease, which is a big deal for businesses trying to get back. It gives them breathing room.”

Ferzli said 76% of the members WeWork is seeing return to the office are small and medium businesses, rather than its larger enterprise members.

“It’s small and medium-sized businesses that are coming back, they’re the ones taking advantage of the program at the moment,” Ferzli said. “We were expecting small and medium to be the first to come back because they’re a little more agile.”

In D.C., WeWork is offering the same discounts as in New York, but instead of the chambers of commerce, it is partnering with the Office of the Deputy Mayor for Planning and Economic Development.

Deputy Mayor for Planning and Economic Development John Falcicchio told Bisnow the District is planning to kick off a new effort next month to encourage companies to return to the office.

“Now we have had a year of experience of how to keep people safe when they return to the office, we also know vaccination rates continue to rise around the region, so that builds our confidence that now is the time,” Falcicchio said.

He said he sees the partnership with WeWork as a way to support this return-to-work effort. He said WeWork was an ideal partner because of its footprint throughout the central business district, allowing people to pick the location that is best for their commutes.

“I think coworking will become more a part of the landscape than it was before the pandemic,” Falcicchio said. “Because we know people are looking at how they carry that overhead of a lease, and what coworking allows you to do is a more flexible way to get out of the house and focus on work.”

Falcicchio said D.C. is also in discussions with WorkChew, a D.C.-based startup that turns restaurant and hotel spaces into flexible workspaces during the hours when they are underutilized. He invited WorkChew to speak alongside WeWork on a DMPED event earlier this month to promote its offering, he said he is helping connect it with restaurant and hotel groups, and he said DMPED employees have begun to use WorkChew spaces.

“For businesses, it’s another way to capture revenue,” he said of WorkChew. “We want to highlight the concept and let the marketplace know it exists as people think about how they might return to work.”

Downtown D.C. Business Improvement District Director of Economic Development Gerry Widdicombe said he supports the WeWork partnership, but he doesn’t think it will make a huge dent in the return-to-work effort. He noted that coworking space only accounts for 1% to 2% of D.C.’s office market, so it will be more important to push major employers with large office footprints to bring back their workforces.

“As people tiptoe back into the office, WeWork and their promotions will be very important, but it’s important to put the whole coworking sector in the proper perspective,” Widdicombe said. “Is it a game-changer? I don’t think so, but it’s certainly a good step in the right direction.”

While WeWork has the largest coworking footprint in many major cities, its competitors also see their spaces as helping cities in their return-to-work efforts.

Industrious Chief Commercial Officer Anna Squires Levine, in emailed responses to Bisnow questions, said the company “definitely” sees partnering with cities as a potential opportunity to explore. She said most companies are still looking to open downtown offices to serve as a hub for employees and then supplementing that with neighborhood-based offices.

“It’s then a rising tide lifts all boats scenario where neighboring businesses feel the benefits of the resurgence in foot traffic from the workers now coming into the office,” she said in the email. “Those moments driven by office workers — Thursday happy hours at the beloved bar near the office, running out to grab lunch at the deli on the corner — will bring a boost to those businesses who have been really missing this audience throughout the pandemic.”

IWG CEO of the Americas Wayne Berger, whose company operates the Regus and Spaces brands, said he is seeing an increase in D.C. companies looking to return to the office, with month-over-month inquiries up 32% in March.

“There will always be a role for major city offices and the networking and cultural benefits they offer, and by offering employees flexible workspaces within these hubs, they become tools to facilitating the eventual return of these bustling business districts in an even more sustainable and livable way,” Berger wrote in an emailed statement.

Bringing people back to work is important to revive the downtown restaurant and retail sector, Widdicombe said, as many of these businesses rely on office traffic. He also said it would help the District’s budget, because downtown retail businesses wouldn’t have to continue relying on government support.

“We think it’s important from the city’s point of view, the sooner they bring people back they don’t have to do another bridge fund, so they can save $100M,” Widdicombe said. “We’d rather have people come back and create real demand for restaurants.”

Midtown Manhattan

In Midtown Manhattan, Walker said foot traffic is still down by more than 50%, and bringing workers back to offices will be critical to support retail and restaurants.

“Any time we can bring office workers back to those areas, that’s a huge multiplier effect that’s going to keep people employed as doormen, keep people employed at restaurants and shops,” Walker said. “It’s fundamentally important to the city’s ecosystem.”

In addition to bringing employees from their apartments to their offices during the day, Walker said New York also needs to bring back the remote workers who left the city during the pandemic, and she thinks coworking space can play a role in that effort.

“A lot of remote workers have left the state, and so we have to think about all these things because it has an effect on local stores, shops taxes, and the feel of the city if we lose a ton of creative talent that makes New York City what it is,” Walker said. “We still have work to do to bring the workforce back.”

While New York seeks to bring its workforce back and revive its office districts, other states with less of an established office market are looking to draw remote workers to find a new home, and they are also using coworking as a tool in that effort.

West Virginia last week launched a program to attract remote workers with an incentive package that includes $12K in cash payments, free outdoor recreation and free coworking space. The program, funded by West Virginia native Brad D. Smith and his wife, Alys, is a partnership between the state’s tourism agency and West Virginia University.

Danny Twiley, the assistant dean for WVU’s Brad & Alys Smith Economic Development Collaborative, said the goal of the program is to keep people in West Virginia for the long term, and he sees the coworking offering as a critical part of that effort.

“We really want to retain these individuals, because we’re asking them to move to a new state, a new community they haven’t lived in before, and we want them to connect with new members of the community,” Twiley said. “If you’re working from home, that’s really hard to do unless you have an established community.”

The program launched last week and has received 5,000 applications, Twiley said. It plans to welcome its first cohort of about 50 people this summer. He said the coworking offering will launch in a space on WVU’s Morgantown Campus, and the program is planning to build out three new coworking spaces that the university will operate in Morgantown, Shepherdstown and Lewisburg.

Twiley said it hasn’t decided on the exact size of those new spaces, as it wants to see how much usage the first space receives, but he said it aims to put the spaces in busy locations where the workers can help revitalize the surrounding retail and restaurants.

“As we build out space, we want it to be in energy centers of communities,” he said. “We put it in those energy hubs so people will then say, ‘I want to go out to eat. Let’s get to know each other, go out to lunch, grab a cup of coffee or meet me after work.’ We’re trying to support the local communities and the businesses that are already there.”

Read the full article at www.Bisnow.com