THE STORY OF A LIABILITY
DISGUISED AS AN ASSET…
August 15, 2024
Shane Minnis
Do you remember how you felt when you last secured venture funding?
Excited… accomplished… relieved… a little fear of the unknown… maybe a bit overwhelmed…
But despite it all you’re an entrepreneur! A passionate and bold risk taker – with the pressure on and investor milestones to hit you knew it was GO TIME!
…
Then in what seems like the blink of an eye – another anniversary to “celebrate” since your last series funding high…
As they say… “the path to success is not a straight line, but a journey through waves and tides. It’s up to you to steer the course…”
If you’re anything like the following entrepreneur and venture backed startup founder, then you know how it feels to have your cash runway eroded from all angles while you continuously put out the fires…
DISCLAIMER: For confidentiality purposes and respect of our client’s identity we changed the names, but the facts all stand…
For this founder – the economy sucks, market is plagued with uncertainty, inflation is infectious and the fundraising market… Not Good!
His cash runway, once flush with dreams of a successful exit or unicorn status that would make any founder the envy of their industry, was eroding away month-by-month…
Well, when it rains it pours…
His inbox chimes… “You Have Mail”
By the way they plan on raising his rent…
His current workplace seems to work fine as-is…
Although it’s a little disorganized and there’s a decent amount of vacant space – a combination of employees working from home and demand has slowed.
Either way he prefers the path of least resistance and minimal disruption… but what he really wants (and deep down inside NEEDS) is to reduce overhead…
Even though he is unsure of his options and doesn’t have much experience with commercial real estate – he takes the First Step…
He got clear on the ONE thing you should know better than anyone else…
Your Current Situation
As a result of that First Step he enjoyed:
- Having the choice to Consolidate Elsewhere OR Renew at his current location
- 62.2% rent reduction (consolidation elsewhere) VS 8.3% rent reduction (renewal)
- Ultimately choosing to consolidate elsewhere for greater efficiency and reduced overhead
- Reduced pressure to raise funding in a tough market – increasing his cash runway
- Achieved lease flexibility for the foreseeable future
- No out-of-pocket costs for real estate commissions
- Reduced his own stress – and a win to reassure investors and employees
- Minimized his time, energy and resources spent dealing with real estate – he was free to focus on other issues to help grow his business
- All-in-all a great deal and maximized ROI consolidating elsewhere
If we can produce results like this for this founder… imagine what we can do for you 🙂
Assuming your current workplace is too big… are any of the following concerns top of mind?
- Consolidating operations to maximize efficiency or reduce overhead?
- Renegotiating current lease for better terms?
- Lease expiring soon?
Dedicated To Helping You Get A Great Deal + Maximize ROI On Your Next Lease,
– Shane Minnis
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