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Blog

It’s Always Time for Change

Back when our last blog post went up (yes, it has been a while!), we lived in a very different world. For Guiderock Commercial Realty, that time was a period of growth and evolution. As a company, we went through a lot of changes but also had a lot of forward momentum.

And then came March 2020. We did not shut down like many of our clients, but we were forced to address a substantial shift in the world. However, we remained a resource for our clients, other business owners, and the community. We gathered information, answered questions, and gave guidance where needed.

Six months later, we can say that things have improved, but much is still unknown. That’s always the case in business, though – we never have the certainty that we might like to have. As we move through the remainder of this disruption and prepare for future unknowns, we have a few thoughts that may help you navigate as well.

  1. Adversity also breeds opportunity. Remember the saying that “change is the only constant”? Just as this year doesn’t look like 2018 or 2019, the coming years will look different to us as well. As situations evolve, it becomes necessary to deploy different tools and resources. These changes also present opportunities to evaluate how you operate, make improvements, and develop new ways to support your customers. As we talked with our clients, we saw amazing resiliency and adaptability in the face of a substantial systemic shock.
  2. Plan for the bad when times are good. We see enough signs locally that we are optimistic about the ability of businesses to recover. In the future, when things are looking bright again, remember what happened this year and use that as a tool to keep preparing for the next downturn (in fact, you can lay the groundwork right now for those future contingency plans).
  3. Don’t go it alone. Entrepreneurship can seem lonely at times, but it really is a team sport. Make sure you have good teammates around you. Of course, this will include the business partners that you rely on for services like accounting and legal advice. Look also for mentors and friends who can help give you a different perspective. And be prepared to be a good teammate yourself and give back to others.

As you take stock of your current situation and begin thinking about your next stage, we hope you see positive signs for your own business as well. Please reach out to us with questions – we can connect you with other organizations and service providers to help you with your specific situation.

Categories
Leases Sales

To Buy or Not to Buy?

As your business grows, one of the most exciting (and nerve-wracking) situations is when you start to think about buying commercial real estate for your business. So how do you know whether it’s best to buy or lease?

In addition to considering where your business is in terms of age, growth stage, and cash needs, you will also want to consider your capacity for operating the property. Owning a building means that you are also solely responsible for repairs and maintenance, which may take attention away from your core business activities. You can mitigate this some, however, through your due diligence prior to making a purchase and planning for these needs.

Lastly, if you decide that you are ready to make the leap into building ownership, be sure to talk to your lender about SBA loans and other financing options that may be appropriate for your situation.

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Other

It’s Been a Year Already?

The adage “time flies when you’re having fun” is certainly true – this week we celebrate one year of being in business, and the time has sure flown by! Cheers to our incredible clients, colleagues, family, and friends who made it possible for Guiderock Commercial Realty LLC to achieve this milestone. In honor of the occasion, here are some of the highlights and lessons from the past year:

  • Why have cake when really you should have pie? We all start with plans of how things will go, even leaning toward the traditional routes, and have to adapt when the plans and reality don’t align. Most things went well, and the occasional misalignments taught us valuable lessons in flexibility and adaptability. Besides, we like unconventional anyway.
  • The only constant is change. We have continued changes in the industry (different expectations in office use, an omnipresent omnichannel impact on retail and industrial properties, construction and financing pressures) as well as broader economic and political conditions. How these trends will continue or what new environments might come along are difficult to predict, but it’s safe to say that this next year will be different than the past year.
  • Speaking of change, how about some new stuff? This first year saw an emphasis on tenant and buyer representation services, as well as the launch of this blog. More exciting is the groundwork that was laid for new services to be launched in the next few months to further assist our clients. We can’t spill the beans quite yet, but look for more information soon!

We can’t give enough thanks to everyone who has been a part of this journey. It has been an amazing year and we’re looking forward to many more.

Categories
Other

Celebrating Small Businesses

It’s Small Business Week! Over the past several days, we have seen and heard quite a bit of commentary highlighting how small businesses are integral to a sense of community. Sometimes this can be taken for granted, so we are taking a few moments here to (somewhat anecdotally) talk about why small businesses are so important.

Certainly there’s a significant contribution from small businesses to the U.S. economy. The Small Business Administration notes that “more than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.” That’s good news, but it only scratches the surface of what small businesses do.

When we think about small businesses, we think about our family, friends, and neighbors. The people that own and operate these businesses are embedded in their communities. They know customers by name and may cross paths with them at the grocery store, social events, and church. These small business representatives often hold seats in local government, directly influencing how a community sees and conducts itself. Many of them hold position on non-profit boards, and others may be sponsors for youth sports teams or other groups.

Whether today’s small businesses stay small or become “the next big thing,” we know that they represent creativity, resourcefulness, and a level of community service that goes beyond economic measures.

Thank you to all of the small businesses for doing what you do and making our communities great.