I recently posted a question on Linkedin.com about how or when a start-up venture should move out of home or “garage” office space and buy into “official” office space. Considering I talk to a lot of start-ups for podcasts and “off the record” on how to use social media to gain momentum and visibility, I get asked this question often. I wanted to see what the general consensus would be — and if I didn’t get enough answers, I was going to reformulate that question and put it out there again. Turns out I didn’t have to do that!
There was a number of participants and some I commnicated with behind the scenes because they were giving good information.
The most informative answer came from Gray DeFevere — and that shouldn’t be a surprise to those who know Gray since he works with commercial real estate as well as start-ups or middle market business often.
Here’s an excerpt from that Linkedin.com answer:
1] In the life of most/many Start-ups there is the “two guys and a dog” kind of startup where they are living on chocolate milk and YooHoos while using family – friends and fools money and still working at their day jobs. There is no need to spend money for rent or offices that cannot be used for free. Keep working till you have begun to get ‘happy paying customers’ or until you have proven concept and are in sight of ‘happy paying customers’.
2] Next stage of development is often proof of concept and the need for more headcount. Still cash is slim and prospects for lots of monetary help slim — so is the life of a startup. You will begin building your team and they will sit in whatever place they can…usually their home…or yours. By now you have probably given up your paying JOB and given in to the entrepreneurial call for all of your time and money. Welcome to Start-Up 101. Office space is not far behind.
Gray DeFevere
That question and answer set me off in a direction to get Gray to talk by phone on what turned out to be a time-line for start-ups or middle market business to be best able to determine where they are in the process to get not only office space but also potentially talk to angel or venture capital investors.
We have titled this two part podcast “School for Start-ups” because it gives anyone and everyone a pretty clear idea of what it takes to get started; what relevant points that business creators need to reach to determine if they are making significant traction.
School for Start-Ups Part 1
Please follow this blog at www.defevere.com
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Also if you have questions about anything in this podcast or anything else on the Defevere Advisory Group website , please visit this page.
Stevie Wilson,
LA-Story.com
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