Is It Better To Buy Or Lease Commercial Space For My Business

Your business location should be tailor-made to fit with your company budget, spacing requirements and ease of operation. For some business owners, leasing affords a sense of freedom and relieves the financial burden of a down payment, yet may be too restrictive for some kinds of operations. The decision to buy a piece of commercial property offers its own set of risks and rewards, and should be considered carefully before entering into a mortgage contract.

Leasing Commercial Space

1. Cost Effective

Leasing a commercial space will usually require a one to two month move-in deposit, making the rental space a cost efficient way to do business. New business owners may be strapped for cash, and by leasing, rather than purchasing, your storefront or office is cost effective to set up shop with minimal funding.

2. Flexibility

Leasing a commercial space gives the entrepreneur plenty of room to grow, downsize or change locations. Although once you sign a lease, you are locked into a fixed amount of time to make the lease payments, the terms may be only a matter of months to be released and start over in another location.

3. Freedom

Setting up shop without the burden of a mortgage to pay allows a sense of financial freedom. Albeit, a purchased piece of commercial property could be leased or sold to another, there could be months before the owner receives any income from the property. A hefty mortgage may also interfere with business profits and may demand downsizing of personnel.

4. Maintenance

A leased office or shop has a landlord to lean on, taking away tedious responsibilities with the plumbing, electricity and security. In a leasing situation, any repairs or legal liabilities are left in the hands of the building management team.

5. Subletting

In some situations, you may sublet your leased office space to another. However, this must be cleared in writing from the management office, and careful attention given to their rules and regulations for renting out the space.

Buying Commercial Space

1. Secured Location

Buying a piece of commercial property adds assurance that the space is secured and cannot be given to someone else. In a leasing situation, when the lease expires, the renewal process may not have the same initial terms, thus proving unfavorable to renew. However, when you purchase, your prime location is secured.

2. Equity

As with a residential piece of property, a commercial owner may take out cash against the mortgage. In an emergency financial crisis, having a mortgage to borrow from lends a sense of security and provision of funds. Most commercial purchases will require 20 to 25 percent down on the purchase price, giving instant equity to the business owner.

3. Remodeling

When you have bought a property, it is your to do with as you wish. Remolding, expansion and reconfiguration are yours for the taking. The ownership allows the business structure to be molded around the enterprise for a perfect fit and usage of space.

4. Tax Deductions

The interest on a commercial loan is tax deductible, with allowances for deducting any depreciation.

5. Lease Your Excess Space

If you own the property, you may lease your excess space without any restrictions from a third party over your head.

Twelve Basic Predictive Analytics Techniques

Predictive analytics is a solution used by many businesses today to gain more value out of large amounts of raw data by applying techniques that are used to predict future behaviors within an organization, it’s customer base, it’s products and services. Predictive analytics encompasses a variety of techniques from data mining, stastics and game theory that analyze current and historical facts to make predictions about future events.

Predictive models examine patterns found in historical and transactional data to identify opportunities and risks. Predictive models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision making for candidate transactions.

There are some basic and more complex predictive analytics techniques. Three basic techniques include:

Data Profiling and Transformations
Sequential Pattern Analysis
Time Series Tracking.

Data profiling and transformations are functions that analyze row and column attributes and dependencies, change data formats, merge fields, aggregate records, and join rows and columns.

Sequential pattern analysis discovers relationships between rows of data. Sequential pattern analysis is used to identify frequently observed sequential occurrence of items across ordered transactions over time. Such a frequently observed sequential occurrence of items (called a sequential pattern) must satisfy a user-specified minimum support. Understanding long-term customer purchase behavior is an example of the sequential pattern analysis. Other examples include customer shopping sequences, click-stream sessions, and telephone calling patterns.

Time series tracking tracks metrics that represent key behaviors or business strategies. It is an ordered sequence of values of a variable at equally spaced time intervals. Time series analysis accounts for the fact that data points taken over time may have an internal structure (such as autocorrelation, trend or seasonal variation) that should be accounted for. Examples include patterning customer sales that indicate product satisfaction and buying habits, budgetary analysis, stock market analysis, census analysis, and workforce projections.

More advanced predictive analytics techniques include:

Time Series Forecasting
Data Profiling and Transformations
Bayesian Analytics
Regression
Classification
Dependency or Association Analysis
Simulation
Optimization

Time series forecasting predicts the future value of a measure based on past values. Time series forecasting uses a model to forecast future events based on known past events. Examples include stock prices and sales revenue.

Data profiling and transformation uses functions that analyze row and column attributes and dependencies, change data formats, merge fields, aggregate records, and join rows and columns.

Bayesian analytics capture the concepts used in probability forecasting. It is a statistical procedure which estimate parameters of an underlying distribution based on the observed distribution. An example is used in a court setting by an individual juror to coherently accumulate the evidence for and against the guilt of the defendant, and to see whether, in totality, it meets their threshold for ‘beyond a reasonable doubt’.

Regression analysis is a statistical tool for the investigation of relationships between variables. Usually, the investigator seeks to ascertain the causal effect of one variable upon another-the effect of a price increase upon demand, for example, or the effect of changes in the money supply upon the inflation rate.

Classification used attributes in data to assign an object to a predefined class or predict the value of a numeric variable of interest. Examples include credit risk analysis, likelihood to purchase. Examples include acquisition, cross-sell, attrition, credit scoring and collections.

Clustering or segmentation separates data into homogeneous subgroups based on attributes. Clustering assigns a set of observations into subsets (clusters) so that observations in the same cluster are similar. An example is customer demographic segmentation.

Dependency or association analysis describes significant associations between data items. An example is market basket analysis. Market basket analysis is a modeling technique based upon the theory that if you buy a certain group of items, you are more (or less) likely to buy another group of items.

Simulation models a system structure to estimate the impact of management decisions or changes. Simulation model behavior will change in each simulation according to the set of initial parameters assumed for the environment. Examples include inventory reorder policies, currency hedging, military training.

Optimization models a system structure in terms of constraints to find the best possible solution. Optimization models form part of a larger system which people use to help them make decisions. The user is able to influence the solutions which the model produces and reviews them before making a final decision as to what to do. Examples include scheduling of shift workers, routing of train cargo, and pricing airline seats.

About Victor Holman

Victor Holman is a business performance and growth strategy coach, consultant, international speaker, entrepreneur and creator of the Business Performance Portal. He has provided his expertise to over 50 government agencies worldwide and hundreds of corporations of all sizes. His goal is to help small businesses outperform their competition by applying business growth strategies and assessment tools that work for large, successful businesses.

He provides business consulting for small and large size organizations, business coaching, team performance workshops, and in-depth on-site business assessments for business owners trying to take their business to the next level. His highly acclaimed Insider’s Secrets Club delivers fast, simple, easy to implement strategies for growing your business fast!

You can access his FREE business assessment tools, business management kits, business training programs, videos, templates, and more at http://www.lifecycle-performance-pros.com

The Benefits Of Having A Mobile Business

Some people like working nine to five, leaving the house at the same time every morning, and arriving home at the same time each evening. They enjoy this routine because it’s stable. However, it’s hard to take vacations with this type of job, as you have to schedule time off. It’s also hard to run errands or make appointments when their working hours are the same as yours. Basically, there’s not a lot of freedom in this type of job. If you had a mobile business on the other hand, you’d be able to go anywhere you want, do anything you want to do, and more.

All you need to run a mobile business is your laptop and an internet connection. As long as you have internet access, you can conduct business anywhere, anytime. You could go work down by the beach. You could take a vacation on the fly, and you could even move on the fly if you wanted to. With a mobile business, you’re never tied down, and can earn income wherever you choose to go.

There are various types of mobile businesses. E-commerce websites where you sell services or products online, advertising / marketing jobs, writing jobs and much more. As long as you keep on top of your orders, and ensure your clients are satisfied (and this is of paramount importance, especially with online business where you don’t meet the customer face-to-face), you can run a successful business from wherever you may find yourself.

Mobile businesses are becoming increasingly popular. People like the idea of mobile business because they can travel and pretty much do what they please, according to their own schedule. In addition, these types of businesses are also great for single parents. It’s hard for a single parent to go to work each day, pay for day care, and all the other worries that come with raising a child on your own. With a mobile business, the stay at home mum or dad can work away at their online business and watch over their own child at the same time.

If you don’t like the daily grind, 9-5 structured job, and you’d like more freedom in your life, you should consider a mobile business. Find out what you like to do, and research the type of business you would like to run. As long as you have a laptop, an internet connection and a passion for your job, you can be as successful as you want to be, and you won’t be tied down like you would be with a regular job.

Functions Of Mechanical Tools And Equipments Used For Construction

A construction site usually has many mechanical tools and equipments in the scene, each having a specific and important function to perform. The main purpose of using mechanical tools like cement mixers is to significantly lower down the work load of the construction site workers.

These machine based tools and equipments also enable fast construction works that save time as well as construction costs. It is the result of using these powerful tools that even the biggest construction projects are completed with ease and within the designated deadlines. For the rest of the discussion, you can learn about the functionality of cement mixers and other construction site mechanical tools.

Cement or Concrete Mixers

Concrete is an important constituent required for the construction work. cement mixers are the mechanical tools used for the preparation of concrete by mixing cement, sand and water. The function of these tools is to make concrete ready on the construction site so that it can be used for construction before hardening. These mixers have wheels that make them easy to be transported to different parts of construction sites. Concrete mixing transportation trucks are the advanced versions of these mixers.

Forklifts

Forklift is a useful construction site mechanical equipment type which is also known by many names like lift truck, trailer loader, tow motor and fork truck. An important function of these trucks is to lift the construction materials. They are also used for the transportation of these materials. Some of the common forklift designs include hand pallet truck, rider stacker, side loader, rider stacker and others.

Loaders

Just like cement mixers and forklifts, loaders too are the important mechanical tools that are a part of any construction project. As the name suggests, these equipments are used to load different construction materials like asphalt, gravel, sand, rock and debris to other types of mechanical equipments. Dump tucks, for example are loaded with debris, dirt or other waste materials using loaders. Some of the popular designs of these equipments include armored wheel loaders, tractor front loaders and skid loaders.

Cranes

In order to lift and move abnormally heavy loads, cranes are the befitting equipments one can see at different construction sites. It is one machine which makes use of many small mechanical tools to perform its functions. Lever, pulley and hydraulic cylinder are among the small machines that enable a crane to work. There are numerous types of cranes, each designed to perform for different projects related to construction industry.

Backhoe Loaders

Small construction projects require small sized cement mixers and loaders. Backhoe loaders are the mechanical equipments used for building a small house or repairing a road or any other similar type of project. Transportation of building materials, paving roads and demolition of small structures are among the functions performed by these machines.

Skid steer, excavators, crawlers, road rollers and many other mechanical tools and equipments are used in conjunction with cement mixers, cranes and other aforementioned machines to make task easier at construction sites. It is important that all these importance machines are purchased carefully and only from reputed manufacturers and suppliers.

Gaining Justice with Employment Solicitors

Gaining Justice with Employment Solicitors

All workers in the UK, irrespective of the industry in which they are employed, are legally entitled to certain standards in the workplace. As well as the more obvious things such as adequate health and safety levels, there are various other laws which are in place, and employment solicitors are on hand to help when employees are treated illegally.

For example, it’s a sad yet inevitable fact that some companies do not meet the minimum standards required for working conditions. Employment law solicitors can advise workers who have suffered in this area, and it needn’t cost a penny. No win no fee employment solicitors work hard from day one to get you the maximum possible compensation you deserve. Unfair Dismissal? Employment Solicitors Can Help

Losing a job is a traumatic experience at any time, but it’s even worse when it’s done illegally. Anyone who feels they have been the victim of unfair dismissal needs to contact a reliable firm of employment law solicitors. London is home to a vast number of businesses operating in all industry sectors, some of whom do not treat their staff as well as they should.

With such a wide choice of employment solicitors, London workers are never likely to be far away from a reliable firm. Whether the individual employee works for a small, family-run business or a huge multinational corporation, he or she is legally entitled to certain standards within the workplace. Making Contact with Employment Solicitors

It’s straightforward for any employee to take their case to employment law solicitors. Most employment law firms offer clients a free consultation to start with, and once they’ve assessed the merits of the case they usually act on the basis of no win no fee.

Employment solicitors have specialist knowledge of this often complex area, and will be on hand to guide clients through the whole process. A telephone call or email is all it takes to start the ball rolling and in no time, you could be under the expert guidance of employment law solicitors. With them on your side, your chances of success are greatly increased.