Archive for March, 2014

10 Simple Ways To Cut Business Expenses

There’s no avoiding the fact that running a business costs money. Whether it’s a brick-and-mortar retail store, a service provider, or a small e-commerce company, every startup has its own set of expenses. While you can’t fully eliminate your costs, you can significantly reduce them with a few simple changes to your business operations.

Holly Perez, senior manager of personal finance software company Quicken, shared these 10 cost-cutting solutions to help you reduce your business’s budget:

1. Outsource. Bring in freelancers or contractors for short-term jobs. You won’t have to pay a full-time salary with benefits to employees who you may not need after a project is completed. If a particular temp worker stands out, you may be able to hire them to fill a current or future position, which could help you cut recruiting and training costs.

2. Hire interns. Hiring interns is a win-win situation. Interns get valuable experience, and employers enjoy low-cost labor. However, interns might need extensive training on your software and procedures before they can get to work. Keep this in mind when weighing the costs and benefits of this tactic.

3. Use email whenever possible. When sending simple messages, like greetings to new customers and requests to vendors, do it electronically. Small costs like stamps, envelopes and paper can add up fast, so cutting the little things can make a big difference.

4. Print less. Ink cartridges, paper, file cabinets and storage space are all expenses you can easily limit in the digital age. Store the majority of your documents and data on a hard drive, scanning paper documents if necessary. Be sure to back up all of your files and protect your computers with passwords.

5. Negotiate lower credit card APRs. Many small business owners use credit cards for working capital, minor purchases or travel expenses. If you’re paying a high annual percentage rate, try to negotiate a lower rate with your provider. You can save significant money over the long term.

6. Negotiate lower prices with your suppliers. You shouldn’t just be wrangling better deals from your credit card companies; you should also negotiate with your suppliers. Most suppliers are amenable to the idea of negotiating prices, because they would rather do so than lose a regular customer.

7. Pay invoices early. Many suppliers offer discounts for paying invoices within the first few days of receiving them. If you have the cash, paying early is a great way to build long-lasting relationships with your suppliers.

8. Buy used equipment. With technology constantly improving, you can get big discounts on software and hardware that was recently replaced by a new version. Used equipment can be just as useful as new equipment, but even at a few months old, these products will come at a significantly lower price.

9. Travel less. You can save a lot of time and money by avoiding unnecessary trips. Use online resources like Webex and Skype to conduct meetings with people in multiple locations rather than traveling to visit them in person.

10. Let employees telecommute. If possible, allow your staff to work from home at least one day per week. You’ll see a cost savings on your electricity bill, and you may ultimately be able to relocate to a smaller office.

The story was originally published on Business News Daily.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at or 208.322.7300.


Making Your Business Buzzworthy

An article from the Business News Daily discusses how email marketing used to follow a one-size-fits-all model, but now new technology is giving businesses the chance to take their campaigns to the next level.

Vivek Sharma, co-founder and CEO of email marketing technology provider Movable Ink, said there are numerous new ways businesses can help ensure their emails are not only read, but revisited multiple times.

Originally, email marketing was similar to direct mail in that everyone got the same message, Sharma said. Eventually, email messages could be targeted to different customer segments — for instance, one email could be sent to men, and the other to women.

Sharma said “agile marketing” takes things several steps further. “Agile marketing is actuality-based marketing — meaning, rather than creating a prefabbed message, the message is adapting to you based on when you are [reading it], where you are, what device you are opening it on and even the weather outside,” Sharma said.

To help businesses better understand the capabilities of email marketing, Sharma has compiled a list of 10 ways retailers can use email marketing to generate excitement and boost sales:

  • Multimedia: Rather than a simple picture, use video and a countdown clock to unveil a new product and create a sense of urgency.
  • Social media: Use social media to make emails interactive by incorporating real-time tweets and Instagram photos.
  • Personalize: While some think slapping someone’s name at the top of an email makes it personal, take it even further by personalizing an image with the recipient’s name on it — for example, a piece of jewelry with the person’s name engraved on it.
  • New deals: To get consumers to revisit the email after they have opened it, use new technology that allows for the email to be updated with new deals every hour.
  • Shipping: Include real-time shipping-status information in purchase confirmation emails.
  • Updated locations: Use geo-targeting to show nearby store locations and the hours when each of those stores is open.
  • New products: Change offers that are promoted based on each shopper’s location. For example, a ticket broker could change the concerts or sporting events it promotes in an email based on each consumer’s location.
  • Bar codes: Use bar codes in mobile emails to drive sales by letting consumers have their email scanned straight from their mobile device for an in-store discount.
  • Best sellers: For businesses with fast-moving products on their home page, use new tools that allow the emails to always show the most up-to-date best-selling products. It ensures the emails never go stale.
  • Mobile friendly: Optimize emails for mobile devices — for instance, include a “click to call” button for customers who want to make a purchase or speak to a customer representative.

Sharma said email marketing makes the most sense for retailers because it has the largest return on their investment. He points to past research that shows that the return on investment for email marketing is $29 for every $1 spent.

“Dollar for dollar, out of all of the digital channels available to retailers, email simply performs the best,” Sharma said. “It is incredibly effective.”

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at or 208.322.7300.

10 Surprising Social Media Statistics

If you’re managing social media for your business, it might be useful to know about some of the most surprising social media statistics this year. Here are 10 that might make you rethink the way you’re approaching social media.


• This demographic has grown 79% since 2012.
• The 45–54 year age bracket is the fastest growing demographic on both Facebook and Google+.
• For Facebook, this group has jumped 46%.
• For Google+, 56%.

Those are impressive numbers against the prevailing idea that social media is “just for teenagers.” It certainly points to the importance of having a solid social media strategy if these age brackets fit into your target demographic.

Rethink it: Keep older users in mind when using social media, particularly on these three platforms. Our age makes a difference to our taste and interests, so if you’re focusing on younger users with the content you post, you could be missing an important demographic.


Not only does Facebook have millions of users who don’t access it from a desktop or laptop, but mobile use generates 30% of Facebook’s ad revenue as well. This is a 7% increase from the end of 2012 already.

Rethink it: There are probably more users accessing Facebook from mobile devices than you thought. It’s worth considering how your content displays on mobile devices and smaller screens before posting it, particularly if your target market is full of mobile users. Of course, make sure to make sharing to social media from mobile more straightforward.


Did you think TV was the best way to reach the masses? Well if you’re after 18–34 year olds in the U.S., you’ll have more luck reaching them through YouTube. Of course, one video won’t necessarily reach more viewers than a cable network could, but utilizing a platform with such a wide user base makes a lot of sense.

Rethink it: If you’ve been putting off adding video to your strategy, now’s the time to give it a go. You could start small with simple five-minute videos explaining what your company does or introducing your team.


LinkedIn, the social network for professionals, continues to grow every second. From groups to blogs to job listings, this platform is a rich source of information and conversation for professionals who want to connect to others in their industry.

Rethink it: LinkedIn is definitely worth paying attention to. In particular, this is a place where you may want to focus more on new users. Making your group or community a great source of information and a newbie-friendly space can help you to make the most out of the growing userbase.

Make sure you share consistently to your LinkedIn company page and profile by, for example, scheduling your posts.


We all knew social media was popular, but this popular? Apparently it’s the most common thing we do online. So next time you find yourself watching Kitten vs. Watermelon videos on Facebook, you can at least console yourself with the fact that the majority of people online right now are doing something similar.

Social media carries more weight than ever. It’s clearly not a fad, or a phase. It continues to grow as a habit, and new platforms continue to appear and develop.

Rethink it: Putting time and effort into your social media strategy clearly makes sense in light of these stats. If you weren’t already serious about social media, you might want to give it a bit more of your time now.


Although LinkedIn is gathering new users at a fast rate, the number of active users is lower than most of the biggest social networks around. So more people are signing up, but they’re not participating. This means you’re probably not going to have as good a response with participatory content on LinkedIn, like contests or polls, as you might on Facebook or Twitter.

Rethink it: If you’re hoping to get people involved, think about which platforms are best for that. Looking at the latest Twitter statistics and Facebook statistics, these platforms might be a better place for your contest or survey, while passive content like blog posts or slide decks might be just right for your LinkedIn audience.


Only 7% of marketers say they don’t use social media for their business. That means there are lots of people out there getting involved and managing a social media strategy. It’s becoming more common to include social media as part of an overall marketing budget or strategy, as opposed to when it was the outlier that no one wanted to spend time or money on.

Rethink it: If you’re struggling to make your strategy work, or you just want some advice, you don’t have to go it alone. If 93% of marketers are using social media for business, you can probably find someone to give you a hand. Plus, there are lots of blogs, videos and slide decks around to help you out. Be sure to find the right social media management tool for you to stay on top of everything.


It’s pretty clear that mobile is a growing space that we need to pay attention to. And we’ve all heard the cliché of smartphone owners who don’t want to let go of their phones, even for five minutes. Well, apparently that’s not too far from the truth. If 25% of people aged 18–44 can’t remember not having their phone with them, there are probably very few times when they’re not connected to the web in some way.

Rethink it: While you can reach people almost anytime, since they have their smartphones with them almost always, this also means you can interrupt pretty much any part of their lives. Don’t forget that having a phone in your pocket all the time isn’t the same as being available all the time.


Blogging is clearly a big focus for marketers who want to take advantage of social media and content marketing. This is great, because blogging for your business has lots of advantages: you can control your company blog, you can set the tone and use it to market your product, share company news or provide interesting information for your customers. With only 9% of marketing companies hiring bloggers full-time, however, the pressure to produce high-quality content consistently will be a lot higher.

What a lot of people struggle here is how to write the best headlines for your articles, when the best time is to publish posts and lots of other blogging questions that arise when people are starting out.

(Of course, not all marketers work at marketing companies, but the stats are still interesting–how many companies in any industry can afford to hire–or already have–a full-time blogger?)

Rethink it: If you don’t have (or can’t afford) a full-time blogger for your business, be aware that having a content strategy that requires consistently posting on your blog will mean a lot of work for your marketing team and/or other team members in your company to keep up that volume. This can work, it’s just important to realize how big a task it is to run with a full-time content strategy without a full-time content creator.


We’ve seen a lot of news about social media companies and privacy. Facebook itself has been in the news several times over privacy issues, Instagram users recently got in a kerfuffle over changing their terms of service, and the recent NSA news has seen people become more conscious of their privacy online.

But despite these high-profile cases of security-conscious users pushing back against social networks and web services, Velocity Digital reports that 25% of Facebook users don’t even look at their privacy settings.

Rethink it: Assuming that all of your customers are thinking along the same lines could be a big mistake. Especially if you’re basing that on what you’ve heard or read in the tech news. Remember that your customers might have very different priorities than what you expect.

Your social media strategy really comes down to what your goals are, and who your target customers are, but it doesn’t hurt to pay attention to the trends happening across the web. Hopefully these stats will help you to identify trends that will affect your strategy and adjust accordingly.

The story was originally published on Fast Company.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at or 208.322.7300.

For the U.S. Office Market, 2013 Was A Very Good Year

Investors are cheering the gains in asset values seen during 2013 from a strengthening recovery in the U.S. office market, and looking forward to an even brighter 2014 as virtually all the important metrics that drive rent growth and property income are expected to continue to improve over the next 12 months.

The robust office market performance was the highlight of the year-in-review analysis and forecast webinar presented by CoStar market experts Walter Page, director of office research; Hans Nordby, managing director and corporate officer, and Aaron Jodka, manager, U.S. market research.

According to CoStar’s analysis, net absorption in the U.S. office market rose a solid 22% in 2013 over the previous year to 59 million square feet, with the increased demand helping push the vacancy rate down 50 basis points from 12.4% to 11.9%.

The growing demand for office space, combined with an extended period which has seen little to no new office construction, resulted in the average U.S. office rent to grow 3.1% last year – the first time rents have cracked the 3% annual growth mark since 2007, the peak of the market cycle.

New office construction remains muted with just 40 million square feet of new office space added in 2013, and another 78 million square feet under construction at the end of December. Any gains in construction were largely offset by the loss of existing office space as older buildings were demolished or converted, in many cases to be replaced with apartment or condominium properties.

Despite a flattening yield curve and expectations that 10-Year Treasurys will rise to nearly 5% over the next few years, investors increased office purchases by 20% last year, for total office property sales of $106.2 billion, driven in part by demand created by the 2.4% gain in office-using employment in 2013, well above the overall U.S. employment growth rate of 1.6%.

Looking ahead, the CoStar analysts expect the country should finally reach its pre-recession employment peak by summer 2014, building on the 750,000 new office-using jobs gained in 2013.

The office recovery continues to evolve and broaden in new and different directions. While CBD markets in top-tier gateway markets saw the lion’s share of improvement earlier in the recovery, suburban office is now recovering at a dramatic rate, driven by gains in technology, health care, education and even energy industry jobs.

“Markets such as Charlotte are being driven by diversifying economies and lower business costs. Many of the jobs coming into the office sector such as call centers don’t use CBD towers, but they do absorb space,” Nordby said. “This is one of the few calls we’ve been on where it’s hard to find much bad news at all.”

Vacancies Down, Rents Up

In fact, the CoStar analysts said, 2013 was a great year for the office market. Even better, the office recovery is only at about the halfway point — the vacancy rate is expected to plummet another 100 bps to 10.9% by the end of 2015, noted Page, adding that the 59 million square feet of net absorption included a strong year-ending 20 million square feet in the fourth quarter.

“For office investors in particular, the second half of this recovery is what they like,” Page said. “With the occupancy gains, we should see rent, NOI and value gains.

“We are reaching what I’d call a sweet spot — and we’re also reaching a tipping point, the 11.6% vacancy line which is the historical average between 2004 and 2012,” Page added. “At that point, we will really see accelerating rents.”

Roughly half of major markets have already reached or are near that point, including Pittsburgh (8.2%) New York City (8.8%), San Francisco (9.3%) and even St. Louis (11.6%). Baltimore (11.6%) and Philadelphia (11.7%).

Not reflected in the hard numbers is the decline in free rent and concessions offered by landlords, which have been cut in half in such markets like Seattle, Boston and Miami. Rent discounts tenant improvement packages are also shrinking in many markets, Page said.

While the majority of U.S. office markets experienced notable gains, others still have a ways to go. Detroit and Phoenix still have vacancy rates of 17.9% and 18.2%, respectively, but they’ve also come down from stratospheric levels.

The Amazing Suburban Office Rebound

While suburban office markets were still largely lackluster as recently as a year or two ago, CoStar analysts now describe the recovery in the suburban office sector using superlatives such as amazing, remarkable and “on fire.”

Lingering higher vacancies have prevented additional construction in many suburbs, which are also benefitting from the fast-growing tech, health-care and other employment sectors. Suburban markets, which make up a much higher share of total office inventory than CBD markets, account for 90% of total office absorption.

“Some of the recovering suburban markets would have been in tough shape a year, 18 months ago,” Nordby said. “The economy has become much more broad-based, and normal, low-cost back-office places like Tampa and Phoenix have been posting very good job growth.”

Cranes Rising In More Markets

While office construction starts remain low as a percentage of existing inventories, building has been relatively brisk in a few markets like San Jose, Austin, Houston and Boston — and more recently, San Francisco, Dallas, Northern New Jersey and even Chicago.

Most projects are built with tenants or owners in tow, although developers are beginning to move forward on a handful of speculative projects. It’s hardly a surprise to see cranes piercing the skyline in San Francisco, where 2.5 million square feet is under construction, including Jay Paul Co.’s 181 Fremont, a $500 million mixed-use tower in the South Financial District with 415,000 square feet of speculative office space.

San Francisco CBD rents have risen 63% from their recession lows, compared with average 5.7% rent growth for the 54 largest markets.

“Much of this activity is smart money getting under way before the cycle becomes long in the tooth, and we’ll see more of this across the country,” Nordby said.

The story was originally published on CoStar.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at or 208.322.7300.