One thing we’ve noticed recently is that a lot of businesses seem stuck in a “holding pattern” when it comes to their real estate.
When their current commercial lease runs out, they go out on the market, kick the tires of a few other spaces, and end up coming back and renewing their original lease.
Why has real estate movement been so sluggish in recent years? You could cite a number of factors, including a stagnant national economy and the fact that more workers than ever seem to be working from home. However, we suspect there’s a more fundamental problem at cause: businesses are forgetting to view their real estate strategy as a potential asset to their business.
Even in the digital world of 2013, real estate can be a prime asset to help you grow your business. Here’s how to view your real estate as an asset to help build real value as a company.
Attracting Talent with Real Estate
If you want to attract top-tier talent for your company, your real estate needs to be working for you. Consider the Googleplex, the corporate headquarters at Google. Google is continually able to attract top IT talent from across the globe partially because of its employee-friendly, conveniently-located, state-of-the-art facilities.
Similarly, the people who work for you would much rather commute to a beautiful – and handy – location than to an industrial park far from the city. Your real estate should not be an impediment to working for you, but rather an attractor of talent.
Building a Digital Infrastructure
Even if your business’s work is primarily in information technology or in digital media, your real estate still serves as the infrastructure through which your company grows. From meeting with potential clients to offering your workers the equipment and IT they need to succeed, your real estate should be a “home base” through which your company operates.
Even companies that see a lot of employees work from home can always make their real estate more efficient. Your infrastructure shouldn’t just be a place where you work, but an integral part of your business strategy from beginning to end. That’s how your real estate can become a bigger asset even in the digital world.