Earlier this year, we discussed anticipating your company’s short- and long-term growthB when studyingB office space. For the duration of your lease, your office space should accommodate necessary additional personnel and inventory.
Exactly how can you reasonably calculate small business growth so you’ll know when it’s time to move into new offices? Mike Moore, of Kaufman, Rossin & Co. recently citedB four stagesB of small business growth:
- $500,000-$5 million annual revenue – This stage is characterized by creative energy; processes naturally evolve.
- $5-$25 million annual revenue – An organizational B-B-restructuring may be needed and processes should be streamlined. Detailed reporting leads to excellent information access.
- $25-$100 million annual revenue – Competition increases and forces additional organizational realignment. Improvements within the company and company performance are constant.
- $100+ million annual revenue – It’s time for “new and improved” staff and processes during this evolution of your company. Performance metrics should be adjusted.
Check out our Office Space CalculatorB to determine your current space requirements. Our real estate professionals at Morris Southeast Group provide corporate site services and property management for South FloridaB companies at every stage of business growth. Call 866-930-1426 orB contact us, and let’s begin the conversation about location and space for your company.
Tags: miami commercial real estate, Miami office property, Morris Southeast Group, small business trends, stages of business growth
