Best Practices

Chicago’s Top Commercial Real Estate Broker, William Himmelstein, shares insights on how COVID-19 has impacted Commercial Real Estate, how to approach the current market, and how to plan for a safe return to the office.

Commercial real estate (CRE) is typically a company’s second largest expense to payroll or 3rd largest for manufacturers. Yet, never before in recent history has space been on the mind of almost every single business owner and CEO. As the CEO of Tenant Advisory Group with twenty+ years of experience as a commercial real estate broker, I have seen corporate leaders make many mistakes since March that have cost their companies significant dollars and negotiating leverage. In this article, I discuss the current and future CRE market and how to best position your company to buy low, sell high, and ensure you are getting the most out of your space while spending the least. I will also share insights into what other commercial space users are doing and planning for, the do’s and don’ts of approaching your landlord to garner free rent or a lease restructure, and how to safely return to the workspace. 

Learn how to get your business back on track and finish the year strong.

2020 has presented a multitude of challenges that can throw your business off course.

Although the economy has begun reopening and things are shifting towards a new normal, there are still many unknowns. Many leaders are still operating in the grey, and as some states are seeing a backslide of COVID-19, the road ahead may remain unclear. 

As a result of the unprecedented year, many business owners needed to adjust their original goals for 2020. Fortunately, when things go awry, it’s almost always possible to problem solve and get your business back on track for a successful future.

We've all been there. Confident Sinek. Determined Sethi. Marketing-savvy Godin. Who hasn't whiled away hours listening to podcasts?

There's just one problem. For your small business, the key to your success is not to mimic the pundits.

You need to focus on your goals to build your business.

You can't get custom needs off a shelf, nor an hour-long podcast. Let me state an obvious truth here—nothing replaces a good real-life advisor. A good advisor will guide you through fixing whatever ails your business, make sure you're completing the tasks to grow revenue, and look at how you'd like to tailor your life for your terms of success.

You may think you know what your business does. But, is it at a stage where you can articulate what your business offers to others in a way they can comprehend?

Why is it important to have clarity? It allows you to have a clear vision around what you do or sell. Having a clear definition also helps you describe what you do when networking, marketing, or selling. As your business grows, you can broaden your offering relative to your core.