The Space Needs of Entrepreneurs

2011-09-21T15:21:00.000-07:00

Definition: en·tre·pre·neur = one who organizes, manages, and assumes the risks of a business or enterprise.

As the dictionary definition above suggests entrepreneurs are a unique breed. While we tend to find them in early-stage companies, entrepreneurs are not restricted to for-profit start-ups. Increasingly, all successful organizations are becoming more entrepreneurial, and we are seeing entrepreneurs impacting the world through social ventures and B-Corporations, as well. In order for Boulder to remain an attractive hub for entrepreneurs, commercial real needs to adapt to the space needs of entrepreneurs.

Boulder County benefits greatly from the contributions of its entrepreneurs. In the information technology sector and the natural products field, Boulder is known nationally and internationally as a hub for new, innovative companies. We are very fortunate to have organization that supports our entrepreneurial culture through mentoring, networking and financing. In addition to being home to the University of Colorado, consider these resources:

Boulder Innovation Center provides mentoring and incubation to early-stage technology companies, resulting in the creation of over 300 jobs in the last five years.
Naturally Boulder’s mission is to solidify the natural products industry and to support nascent businesses to launch and stay in Boulder.
Start-up Week/Start-up Weekend are events which bring entrepreneurs, talent and investor to our area to display Boulder’s start-up culture.
TechStars which was founded in Boulder, and has grown to Boston, New York and Seattle, provides invaluable mentoring for scalable technology start-ups.
Unreasonable Institute – is a six-week accelerator held in Boulder for social entrepreneurs who are tackling some of the world’s most challenging issues.

In addition to talent and capital, entrepreneurs need office, industrial and/or retail space. Even the virtual companies, at some point in their evolution require office space, if only on a part-time basis, for face-to-face coordination with partners, investors, suppliers and customers. However, the brick-and-mortar world of commercial real estate has lagged behind the needs of entrepreneurs. To keep pace with the needs of early-stage companies…..which are the engine of job creation in today’s struggling economy….. the commercial real estate industry needs to step-up.

Value. Whether the early-stage company is being boot-strapped, angel-backed or funded by venture capital, every dollar spend on rent and operating expenses provide a high rate of return. The cost of the space needs to be fixed in the short-term, and predictable in the long-term.

Function. The lighting systems (including daylighting), HVAC systems and plumbing systems need to work, hassle-free. There are enough challenges in launching a new venture without adding building systems failure, to the list.

Flexibility. Early-stage companies are either expanding or contracting. The traditional, static three to five year lease does not work well for dynamic enterprises. The space and lease structure need to be able expand and contract with the needs of the entrepreneur.

Infrastructure. Proximity to the natural environment and to restaurants, plus access bicycle/public transport is very important to the entrepreneur. Office workers like showers. Food manufacturers need floor-drains and commercial kitchen space.

Cluster Benefits. Early-stage companies want to be located around others in their industry. This allows for access to talent and for shared-learning, which are two of the primary reasons for Boulder’s robust start-up culture.

With double-digit rates of unemployment, and large corporations continuing to shed jobs, entrepreneurs show the best promise to heal our ailing economy. In addition to a world-class research university and beautiful location, Boulder has an abundance of talent and resources for the entrepreneur. Our building owners and commercial real estate professionals have a unique opportunity to accelerate Boulder’s success in fostering entrepreneurship.

Welcome to my Blog

2011-09-01T11:04:00.000-07:00

I am pleased to announce the formation and launching of TenantWisdom LLC. We are a Boulder-based commercial real estate brokerage providing tenant representation. We assist entrepreneurs leasing office, industrial and retail space. We represent commercial tenants only…..no professional landlords. This approach has a distinct advantage for our tenant-clients, allowing us to advocate for them in the leasing transaction. We specialize in assisting early-stage technology firms and natural products companies.

After 25 years in the commercial real estate field, I was drawn to create this new venture, because it fills an important niche in the marketplace. Entrepreneurs, early-stage tech companies and small businesses are creating the jobs today. For the sake of our economy and community I want to support these heroes of our modern economy.

I invite you to visit our website http://www.tenantwisdom.com , and add my new contact info to your address book.

I look forward to our continuing to work together through this new venture, TenantWisdom LLC.

Thank you,
Mark Casey