Commercial Real Estate Basics

Lay a Proper Foundation for Success

Lesson 1 Chapter 1

Lesson Essentials

Download this document to follow along at your office or home. The online course offers more detailed information than the workbook, so be sure to use both to maximize your success in learning this comprehensive material.

Where Are You Starting From?

The first thing you should do any time you plan a new course of direction is to first define where you are starting from. With a commercial lease, before you start exploring your leasing options, you need to first understand where you are right now.

You should start by asking yourself a series of questions. Are you happy with your current space? What do you like about it? What don’t you like about it? Do you feel you are in the right place for maximum success or do you feel like you are struggling with your current location?

Now is a great time to be thinking about your current lease conditions. Its important because you need to have a strong “Why” for addressing your lease. If you wait too long to review your lease or if you don’t pursue the steps outlined in this course aggressively enough, you may lose out on one of your best opportunities to set your business up for success.

Proper Planning Makes All the Difference

If you plan accordingly, you can expect several of the following results:

  1. A better space for your employees, a space that comes alive and brings the best out in your people.
  2. A significant cost savings. You could use extra thousands of dollars for many things, right?
  3. A better location. Perhaps you can save yourself and employees from your current horrendous commute?
  4. The right size and layout. You can accommodate your growth or downsizing needs to be as efficient as possible with your lease expenses.
  5. You may even get things like new furniture, new paint, new flooring, a paid for move, and so much more.

If you Fail to Plan, You Should Plan to Fail

If you fail to properly plan, you will likely lose out on all of the above, but you may also experience worse, including:

  1. Higher lease rate expenses.
  2. Lower quality space.
  3. A poor location for your company.
  4. Space that doesn’t maximize your employees productivity.

So, now that you know why this is so important to you and your company, let’s get started!