Business Lessons From The Best Global Brands

Fox Business recently discussed four small-business lessons from 2013’s top brands.

Apple just took a bite out of Coca-Cola’s 13-year standing as the most valuable brand in the world, according to Interbrand’s 2013 Best Global Brands list. In fact, technology dominated the top five this year, with Apple at the No. 1 spot and Google coming in at second, and IBM and Microsoft landing at fourth and fifth, respectively. Coca-Cola, meanwhile, fell two spots to take third place.

“We talk a lot about how the speed of business has changed,” says Interbrand Global Chief Executive Jez Frampton, commenting on the shake-up at the top of the list. Frampton says building a brand that resonates with consumers still takes time, but tech companies like Facebook have learned to do so more quickly in today’s day and age.

To help small-business owners make a big impact when it comes to branding, Frampton shares four lessons from Interbrand’s 2013 report:

No. 1: Be consistent. “When you look at great brands, one of the things that sits right at the heart of them is consistency,” says Frampton. “They have a clear understanding of what they mean to the world, and they’re consistent year after year and time after time.”

Google, in his opinion, has also succeeded in this regard, thanks to its “Do no evil” ethos. “It’s a relatively recent company, but the essence of ‘Do no evil’ has set a very clear pathway to what kind of company they are, the kind of culture they want to create and the brand they want to be in the world,” says Frampton.

No. 2: Be nimble. Frampton says startups must be nimble enough to take advantage of gaps in the market.

“Having worked with startups over the years, the business you end up doing is not the one you start out doing. You have to adapt to the market,” says Frampton. That said, being nimble doesn’t have to mean being inconsistent.

“At your heart, you still need to have something that unites your people, and creates a bond between the company, suppliers, buyers … and ultimately with customers and shareholders,” he says.

Frampton adds that businesses that are not nimble enough run the risk of becoming unseated by quicker-moving competitors. “Underneath, you need the speed and agility of newer, younger businesses. Companies like Apple, Google and Coca-Cola have learned to do that. IBM has learned they can completely change direction, and Microsoft is going through that right now, you can argue,” says Frampton.

No. 3: Concentrate on service. “Brands are built through every single experience you have,” says Frampton, discussing Apple’s success when it comes to providing top-notch customer service.

He says customer loyalty is one of the most integral factors when it comes to brand strength, and service innovations like the Genius Bar have given the company a real edge.

“Apple’s genius ‘Genius Bar’ not only creates great levels of loyalty among customers, it creates, in the words of [Harvard professor] Michael Porter, a barrier to entry,” says Frampton. “The ability to hire that number of people, and have them in the position to serve your products is not something you can do overnight … It makes it very, very difficult for anyone to compete.”

No. 4: Use digital to your advantage. Frampton says digital innovation has been key to the success of many of the companies on Interbrand’s list, especially in the case of older, more traditional brands.

“Companies like Burberry have reinvented the way people think about luxury by using digital so well,” says Frampton. He says the company realized it didn’t have the cash to compete with rivals like Prada, so instead decided to dominate when it came to e-retail.

“When you talk to them about their flagship store, they’re actually [talking] about their website and mobile capability. They haven’t just benefited from hundreds of years of industry experience; they’ve carefully thought about the market … and how to maintain an incredibly powerful luxury image through digital,” says Frampton. The takeaway, in this case, is figuring out how to grow your brand through digital – not just maintain it.

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 www.sundanceco.com or 208.322.7300.

Creating The Right Office Environment to Attact and Retain Workers

A recent article by Fox Business said that by 2020 it’s estimated that 46% of U.S. workers will be made up of millennials and that is projected to grow to 75% by 2025, which means companies of all sizes will be vying for this group of professionals.

If small businesses want to have an edge over their larger counterparts when it comes to recruitment and retention, then they better create an office environment that meets this generation’s needs.

“Millennials have a very different mentality,” says Wendy McCubbin, senior manager of global worksite wellness at Ergotron, the maker of ergonomically correct office equipment. “The older generations have grown up with office environments. They, on the other hand, have grown up with technology.” Because the millennials are so adept at using technology to communicate, socialize and work whenever and wherever, they want an office environment that caters to that.

Unlike the older generations before them, the millennial workers are used to collaborating and easily communicating with their team members. For small businesses, that means creating a workspace that fosters that by getting rid of high-walled cubicles and offices for executives and creating an open environment where people sit beside each other instead of being blocked offed. “They don’t want to be stuck in a cubicle,” says McCubbin. “They want a collaborative open work environment.”

But it’s not only their workspace that will have to change if small businesses want to attract and retain this very important group of workers. According to experts, this generation wants to work hard but they also want to balance that with their personal lives. They aren’t afraid to work all hours of the night if the company is willing to be flexible and let them take care of personal things during office hours. According to McCubbin, the quickest way to turn off a millennial is to require them to punch a time clock or be in the office from 9:00 to 5:00. Companies should embrace flexible hours and allow their workers to go to doctor visits, pay bills online, or exercise during office hours. McCubbin says a way to attract this generation is to create a cool, relaxing and social environment, which could mean a lounge area, a fully stocked kitchen or treadmills near their work stations.

Millennials have grown up with technology and expect that to be major part of their work environment as well. Because of that, experts say companies have to embrace BYOD policies as well as make it easy for them to use all of their different mobile devices.

“They are very tech savvy and super connected and are multi taskers,” says Peter Mahoney, senior vice president and chief marketing officer at Nuance, the software company that makes voice activated software. “It’s very important to make sure they have constant access to information.”

According to Mahoney, Nuance focuses a lot of its attention on their millennial workers and will create office environments that will appeal to them both from a physical and technological standpoint. For instance Mahoney says since the company knows some of its staff, particularly the milennials, want to work in or near cites it just opened an office in Cambridge, Massachusetts. “We know there’s a certain segment of our workers that are much more interested in working in different kind of environments you might see outside the suburbs,” he says.

In addition to picking locations that appeal to millennials, Nuance also knows this group of workers value their mobile devices and see it as an extension of themselves, so they make using them easy to do. He says companies are missing an opportunity if they don’t create polices that let them use their devices or accept the fact that they will get their work done, but it may not be in the confines of the office.

“It’s really important to millennials and as a result it’s important for companies to adopt these polices that help people use the technology they want to,” he says.  For example, Nuance has found that among their millennial workers e-mail has become passé. Since this group is more interested in collaborative communications and feel using social networks is not only part of their business but also their professional lives, Nuance has created an internal social network to encourage collaboration and socializing among workers.

“A lot of people are catering to them, but they are not focused on the way they work,” says Mahoney.

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 www.sundanceco.com or 208.322.7300.

Seven Great Business Reason to Say NO!

An article from Inc.com discusses how everyone wants to hear ‘Yes!’ but sometimes ‘No!’ is the answer that’s best. Business is filled with opportunities, and it’s nice when you can say yes to customers, employees and vendors. But there are absolutely times when saying yes will lead to difficulty or even disaster. Here are seven scenarios where no is the only way to go. Some may seem obvious, but I have often witnessed smart people get themselves in trouble by thinking they will somehow work everything out. Don’t put yourself in a bad position unnecessarily. Recognize these 7 scenarios and just say No!

1.  Say NO! When No One Is Ready

Many people say yes to a boss or customer request when the pieces of the puzzle aren’t in place. Great work requires preparation. Great teams require alignment. If your team isn’t prepared or aligned, agreeing to take on difficult initiatives is a disaster waiting to happen. Young companies often try to speed forward before their organizational structure or business model is ready. They instead end up burning investor money while killing dreams and reputations. Say No! so you can get everything and everyone on board and ready. Then you can say yes with confidence.

2. Say NO! When It’s Not a Fit

Salespeople and entrepreneurs alike tend to see the potential in everything and everybody. But a ton of time is wasted on prospects who are never going to be customers, never going to invest, or never going to be amazing employees. Instead of looking for all the reasons why things will work out, save time by focusing on the reasons they won’t. Even if you say No!, you can always revisit the opportunity if compatibility improves.

3. Say NO! When You’re Overloaded

Some people are afraid to say No! even when they have too much on their plates. They think it’s necessary to respond positively all the time to avoid disappointing others. Then they let things fall through the cracks, get sick or have a breakdown. In this case, an impossible yes causes far more frustration then just saying No! in the first place. Have a realistic sense of your capacity and don’t go past your limit.

4.  Say NO! When It’s Unrealistic

You can’t assume that every request has been thought through in detail. Often people ask for what they want with little or no consideration of what’s involved for delivery. I never subscribe to the “customer is always right” theory. As a consultant, I wonder, if they are always right, why would they want to pay me? Be the expert when someone asks for something. If you don’t know how it works, do your homework and say yes only when you know it can really happen. Otherwise, keep that “maybe” handy.

5. Say NO! When You Have to Go Backwards

It’s hard enough to move steadily toward your goals without having to regain lost ground. When approached with an opportunity that doesn’t obviously propel you forward, ask yourself: “Why am I even interested in this?”  You may be surprised to find there is simply no justification for saying yes. When that happens, loudly declare No! and move on to opportunities that better align with your goals.

6.  Say NO! When It’s Unprofitable

You are in business for many reasons, but nearly everyone–founders and employees alike–is in it to profit. Not all profit is related to money, although young entrepreneurs should take note that consistent monetary profit does help your sustainability and your valuation. Sometimes a transaction can pay off in connections, exposure, learning, satisfaction or, yes, money. But when a transaction does nothing to better the people involved, then the word No! should be used. The key is to make sure everyone in the company can understand, recognize and justify a profitable deal. That requires openness and education, so get to work.

7.  Say NO! When You Can’t Meet Expectations

People are often optimistic about how quickly and how well they can get things done. Combine that hopefulness with the desire to please a customer, and you are left over-promising and under-delivering. Save yourself the mea culpa and say No! to what you know you can not do. Be accountable and manage expectations. Whatever you do, don’t say yes to get the deal signed if you’re assuming that, once the prospects are in the door, they’ll have to adapt to your change in quality, timing or price. After they realize what’s happened, few will come back to say yes and do business with liars.

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 www.sundanceco.com or 208.322.7300.

The Perfect Workspace According to Science

An interesting article from 99u discussing how to organize and optimize your workspace in the most beneficial ways possible. When it comes to building your workspace you can aim for the trendy look and flick through some interior design mags, or you can let science guide the way. Based on recent psychology and neuroscience findings, here are some simple and effective steps you can take once to improve your productivity for years:

Take ownership of your workspace 

The simple act of making your own decisions about how to organize your workspace has an empowering effect and has been linked with improved productivity.

Craig Knight, Director of the Identity Realization workplace consultancy, showed this in a 2010 study with Alex Haslam involving 47 office workers in London. Those workers given the opportunity to arrange a small office with as many or few plants and pictures as they wanted were up to 32 percent more productive than others not given this control. They also identified more with their employer, a sign of increased commitment to the team effort and increased efficiency.

If you are an office manager this suggests you should give your staff as much input into the design of their office and immediate workspace as possible. Many companies even give their employees a small amount of money to furnish their space. Alternatively, if you’re a creative in an open-plan office, try to find ways to make your mark on your immediate environment. Even the simple use of a pin-board to post your own pictures and messages could help you feel that the space is yours with consequent benefits for your work.

Choose rounded furniture and arrange it wisely

If you have the luxury of designing your own workspace, consider choosing a layout and furniture that is curved and rounded rather than sharp and straight-edged. Creating this environment has been linked with positive emotions, which is known to be beneficial for creativity and productivity (added bonus: there’s also less chance of knocking an elbow or knee on a sharp corner).

In a 2011 study, hundreds of undergrads looked at computer-generated pictures of room interiors and rated those filled with curvilinear (rounded), as opposed to rectilinear, furniture as more pleasing and inviting. Another study out this year found that people rated curvy, rounded environments as more beautiful than straight-edged rectilinear environments and that the rounded spaces triggered more activity in brain regions associated with reward and aesthetic appreciation.

This contrast between straight edges and curves also extends to the way we arrange our furniture. Apparently, King Arthur was on to something: sitting in circles provokes a collective mindset, whereas sitting in straight lines triggers feelings of individuality – something worth thinking about at your next meeting if you want to encourage team cohesion.

Take advantage of color, light and space

Choosing the right color and lighting scheme for your office is one of the simplest ways your environment can enhance your performance. Different colors and light levels have different psychological effects, so the ideal situation is to install a lighting system that allows you to alter the hue and brightness of your room to suit the kind of work that you’re engaged in.

For instance, exposure to both blue and green has been shown to enhance performance on tasks that require generating new ideas. However, the color red has been linked with superior performance on tasks involving attention to detail. Another study out this year showed that a dimmer environment fostered superior creativity in terms of idea generation, probably because it encourages a feeling of freedom. On the other hand, brighter light levels were more conducive to analytical and evaluative thinking.

Not as easy to modify, but ceiling height has also been shown to have psychological effects. A 2007 study found that a higher ceiling was associated with feelings of freedom, together with a more abstract and relational thinking style that helped participants see the commonalities between objects and concepts.

Make use of plants and windows

If you only do one thing to optimize your workspace, invest in a green plant or two. Research has repeatedly shown that the presence of office plants has a range of benefits including helping workers recover from demanding activities and lowering stress levels. As a bonus, there’s also evidence that plants can reduce office pollution levels.

Another feature of an optimized office is a window with a view, preferably of a natural landscape. This is because a glance at the hills or a lake recharges your mind. Obviously a view of nature isn’t possible for many people who work in cities, but even in an urban situation, a view of trees or intricate architecture have both been linked with restorative benefits. If you can’t negotiate a desk with a view, another plan is to choose an office in your building that’s the shortest stroll from an urban park. A visit here will revitalize your mind and compensate for your lack of a view.

The benefits of a messy desk

There’s a lot of pressure these days to be organized. How are you supposed to get your work done if you can’t even find a clear space on your desk to roll a mouse or place a plant? But new research suggests Einstein may have been onto something when he opined: “If a cluttered desk is a sign of a cluttered mind, of what, then, is an empty desk a sign?”

Kathleen Vohs and her colleagues at the University of Minnesota found that participants tested in a messy room at a desk covered with paper came up with more imaginative uses for a ping pong ball than participants tested in a tidy room. This matches the views of consultant Craig Knight who has argued against the modern trend for “lean” workspaces. “We don’t understand psychologically why putting someone in an impoverished space should work, when it doesn’t work for any other animal on the planet,” he said recently.

It also fits with the advice from Eric Abrahamson – co-author of A Perfect Mess: The Hidden Benefits of Disorder – who says people with highly ordered desks often struggle to find things because their filing systems are so complicated. He also points out a key advantage to a mess – you can find things in it that you didn’t expect. Discovering that ground-breaking idea you scribbled on a piece of paper two years ago could be just the spark to get your next project off the ground.

It’s easy to neglect the importance of your workspace, especially if you’re under pressure of deadlines and not so into interior design. But hopefully this review has convinced you that the spaces we occupy really can affect us psychologically. It’s vital that you choose an office space that you feel happy and comfortable in. If your freedom is restricted, shape the space as much as you can to make it your own. Get your surroundings in order and the rest is sure to follow.

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 www.sundanceco.com or 208.322.7300.

Goldstone Center: Boise Valley Commercial Real Estate for Lease

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Goldstone Center
2086 S. Eagle Road
Meridian, Idaho 83642

The 38,764 square-foot Class A Meridian, Idaho structure is part of the Silverstone Corporate Center, which is a 90-acre master planned employment center centrally located in the Boise Valley. Situated 1/2 mile from Interstate 84 at the Eagle Interchange, Silverstone Corporae Center features more than 1 million square feet of tenant amenities within minutes of the center including lodging, day care facilities, a fitness center, and a variety of restaurants.

Goldstone Center provides office condos available for lease and/or purchase and tenants have individual exterior entrances to their suites as well as high visibilty. There also is extensive perimeter and site landscaping, distinctive entry portals at signaled intersections on Eagle Road as well as on Overland Road, and consistent architecture throughout the park.  Other highlights include:
Zoning: CC
Year Built: 2001
Number of Floors: One
Parking: 5/1,000 usable square feet
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 10 feet in office areas
Restrooms: Shared or private tenant restrooms throughout
Miscellaneous: The building has stone veneer wainscot with bronze window frames and bronze tinted glass. Also, all Sundance tenants have proportionate use of the Silverstone Amenity Center at no additional cost

More information available about Goldstone Center at www.sundanceco.com or LoopNet.

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 www.sundanceco.com or 208.322.7300.

Can A Company Use Instagram To Share Their Story and Build Their Business?

Instagram is a photo sharing service available as an easy to download application for any Android or iOS powered device. The photos captured can be shared on Facebook, Twitter and even Tumblr too. It is time for businesses to understand that this social sharing platform is here to stay. So how can a business use Instagram to share their story?

Build an Identity
Start snapping photos of your business. Once you’re ready to post your first image, you’ll be able to add a location if it is not already listed.

Try uploading photos of interesting aspects of the store or products, or share images of things the people who shop your business care about. You’ll be amazed at the response when you start sharing your perspective. Visuals speak louder than words.

Use Hashtags to Build a Following
What’s the point of taking a great photograph if no one will notice it? Celebrate your active brand advocates by deciding on a short, easy to type phrase that people can include in their tweets. For example Adidas used the hashtag “#thereturn” to celebrate the return of Derrick Rose. They even made it a predominate design element on their website for D Rose.

With the use of these hashtags you can monitor conversations focused around your brand by using the Twitter search feed or directly displaying these photos using the Instagram API on your website. Make sure to include any legal terms and conditions related to the use of the publically shared content. In the footer of their website, Adidas informed people: * If you send us a Tweet, or use our hashtag “#TheReturn” on Twitter and Instagram, you consent to letting adidas and Derrick Rose use your content and handle, in any media. If you opt in to our Facebook application All In For D Rose by adidas you also consent to letting adidas use your customized Facebook image in any media. Fan based media can be shared cross-platform allowing you to successfully use Instagram for marketing and to increase brand loyalty through the instant gratification of social likes.

Find Your Advocates
Snap a photo using Instagram and then select that you’d like to add a Photo Map. You’ll be prompted to “name a place”. This is where you’ll see a list of available locations based on your GPS location. Once you find your business, select it as the location and then upload your photo. Once uploaded you’ll be able to click on the location as a hyperlink and browse the gallery of photos other people have tagged for that same location.

Find anything interesting? Follow that individual and you’re on your way to building your community.

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 www.sundanceco.com or 208.322.7300.

What Do We Need Less of and More of in Commercial Real Estate?

Duke Long at DukeLong.com thinks that commercial real estate is getting to the point that there is too much stuff that we don’t need and not enough of what we do need? Here are some of his suggestions:

We Need Less.                                     We Need More.
Emails Conversations                            Information Wisdom
Experts Learners                                     Selling Authenticity
Data Walls                                               Data Access
Data Restriction                                     The Cloud
Historical Data                                       Real Time Data
Data Confusion                                     Data Standard
Social Media                                           Digital Media
Quarterly Reports                                   Daily Market Updates
General Markets                                     Localism
iPad 1                                                      iPad 2
Outlook Salesforce                               CRM
CMBS                                                       CMBS (Yea I Know!)
Drip Mail Touch                                   Belly to Belly|
Blast Mail                                               Shoe Leather
The Office                                               The Street
AARP                                                     Generation Z
Cubicles                                                 Virtual Desktops
BS Hype                                                 Reality
Malls                                                     Netflix (Think about it!)
Kindle                                                   Any Device
PDF Flyers                                           Mobile Apps
1- Dimension                                     3- Dimension
Facebook                                             LinkedIN
Broker Bashing                                   Respect
Corp PR/SM                                       True Voice
Websites                                               WordPress
Online Fear                                         Online Interaction
Marketing                                           Content
Blog Lists                                             Deal Making

Just a few thoughts. What do you think? What does commercial real estate need more of and could use a little less of?

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 www.sundanceco.com or 208.322.7300.

LinkedIn or Facebook: Which One is Better For You?

LinkedIn and Facebook are recognized as top social media platforms, but which one is better for marketing? One might jump to say LinkedIn due to its professional nature and access to quality potential leads, but don’t rule out Facebook just yet. Facebook is a great way to engage with your leads and make personal connections. Using a variety of social media tools will help your business get the exposure it needs. The infographic below highlights the strengths and weaknesses of using both LinkedIn and Facebook for your marketing strategy.

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 www.sundanceco.com or 208.322.7300.

Collaboration in the Workplace

A recent article from Urban Land magazine showcased 10 workplaces that exemplify creative strategies for enabling collaboration and flexibility. Technology may not have brought about the fully paperless office yet, but it has radically changed the way people work. Still, face-to-face interaction is essential for team building and fostering the informal exchange of ideas. Over the years, design teams and furniture suppliers have fine-tuned layouts and environments that support collaborative work, and employees have access to a wider variety of workspaces, from cafés and casual lounges to low-walled open-plan workstations and private “huddle” rooms. Square footage per employee may have shrunk, but that does not mean offices have to feel pinched. Visit the link here to read and see more about these workplaces and their approach to fostering collaboration.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure 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 Boise and Meridian locations. More information is available at www.sundanceco.com or 208.322.7300.

Technology and Real Estate

How are you using technology to grow your real estate business? In a recent entry in his REtechBits blog, real estate PR executive Michael Beckerman explains how the digital revolution is transforming the way residential and commercial real estate professionals can gain a competitive edge in the marketplace by embracing these new tools. You can read the story below or visit the link to the blog.

These days it’s hard to miss the dramatic changes taking place in the commercial and residential real estate industries. No, I don’t mean the transformation of certain markets, or how one sector is hotter than another, or the type of companies that are making a splash. I mean the single most profound change I have seen in my 25 years of being active in the real estate industry: the proliferation of new technologies specifically focused on the business of real estate.

Never before have so many new technology companies targeted and succeeded in changing the way the industry functions from brokerage, marketing, news and information. And, these companies are not just fly-by-night start-ups, they are deeply funded, revenue producing, well-thought-out players in a variety of niches that are strongly positioned to be here for the long-term.

When I first entered the real estate industry having built a public relations firm that specialized in representing clients in the field, I immediately realized I was entering an industry that was, by comparison to many other industries, in the dark ages. It wasn’t cool, certainly not sexy, and had very little innovation. To say it was an old boys’ network was an understatement. Fast forward to today and I can’t tell you how many people I meet while wearing my new hat as a fledgling tech entrepreneur, and I say I have a site for the real estate industry and they are immediately intrigued and excited to learn more.

Now when I go out to meet with either prospective investors or someone in the tech media, they are actually interested in the commercial and residential real estate industries for the first time. It’s an exciting time to be a tech entrepreneur in the real estate industry. Why? Maybe it’s because it’s one of the last big industries to embrace technology and its time has come. Or, perhaps it’s because the tech community just saw there was little competition but a lot of money to be made? Or, maybe it was just like everything else, a little bit of coincidence, a little bit of timing and a little bit of actual insight.

As someone who follows both technology and real estate, there are so many very cool companies now innovating in this industry that I find some of the newest ideas are not coming from social gaming or social media, or pure technology, but from the real estate industry itself. Companies like CoStar, LoopNet, Real Capital Analytics and REIS have long been established innovators in the space, but now besides the information sector, innovators are showing up in all corners of the industry. A few of the ones that deserve paying attention to include:

View the space. A very cool site that takes video production and analytics to a whole new level.

42floors. Takes the brokerage model to an entirely new viewpoint by making it easy to discover and create a dream office.

ClickPay. Provides an electronic payment platform to collect rent payments, association fees and dues, and other fees.

I think one of the reasons why the market is so receptive to new ways of doing things is because the market is not as vibrant from a demand and development point of view. When everyone is super busy making deals and money, they tend to look at innovation and shrug “who needs it, everything is great!” So, in times where the market is cooled, and people have a bit more time to focus on how to be better, smarter and more innovative, technology and new ideas finally have a place to breathe. I think we are in one of those cycles. And that’s a good thing for companies like mine and the others I mentioned.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure 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 Boise and Meridian locations. More information is available at www.sundanceco.com or 208.322.7300.