You Just Raised Money for Growth... Now What?
If you’ve dedicated extensive time and energy to raising the necessary capital, you may find yourself ready to take the next step in realizing your company’s goals. But knowing exactly what your next move should be can be particularly challenging. Here are some important components you need to consider as you move forward:
The Power of Collaboration
While having the necessary financial backing is certainly vital, it’s through hiring the right staff that your company will take form. However, recruiting team members is no simple task. It’s essential to know that the people you surround yourself with are trustworthy and working toward similar goals. This includes architects, who can help transform your vision, work with your layout to maximize efficiencies, and give you the look and feel your company desires, and contractors, who can quickly budget improvements to ensure you understand the cost implications of realizing your space goals. Brokers also serve a comprehensive role, implementing a portfolio strategy that helps reach your goal set. There’s also the importance of furniture providers, who can help configure your workstations and prep them to be ready in the event of rapid hiring.
Location, Location, Location
It’s not just what your company does or who you hire that can determine its livelihood. The specific location where you choose to put down roots is also greatly significant. And when you’re considering new markets, there are certain drivers that should be put into consideration. For example, are there economic incentives in specific cities and states that will help you save money, whether through taxes or employee training? Does your chosen location draw from the type of labor pool you want your employees to be from? How much will it cost to manage them? Be sure to weigh in the costs that will determine whether employees will want to work for you, whether it’s providing them with a financial package or helping them find adequate housing. You’ll need to take the area’s real estate costs into consideration so you can make informed decisions regarding the type of team you want to build.
Have a Strategy
If you’re ready to make the next move for your company, you need to build a strong methodology that uses the right people in the right situations. In addition to real estate transactions, brokers can help you formulate a portfolio strategy that aligns with your company’s specific goals. They can also provide benchmarking data that ensures you understand every market you’re considering, while also helping to guarantee that the team you’ve chosen to represent your organization is one that understands the complex landscape.
If you have questions and concerns about where to turn as you step into the next phase of building your company, a trusted Cresa team member can help guide you in the right direction.