The 3 Biggest Business Mistakes I’ve Made……..So far
Reading the Joe Desk Blog will save you money on your office furniture.
Today I’m going to be humble and share with you my 3 biggest business mistakes. Pay attention becasue any business person can learn from my mistakes.
Mistake #1…Hiring a consulting firm to analize my business.
Mistake #2…Switching credit card companies without reading the fine print.
Mistake #3…Not being acutely aware of when I had to notify my landlord of my desire not to renew.
Today I will explain my 3rd and costliest mistake. I will elaborate on #1 and #2 in a later blog.
So, Mistake #3, here is what happened. Lets face it. The economy stinks. Everyone in business today is suffering. Well I thought I was smart because I was going to take advantage of the poor economy in a way that most have’nt thought of. I have been in the same commercial building for 14 years and I have been paying incremental rent increases every year. Well guess what. I’m over paying. There are so many empty buildings out there and they are starting to make deals that you can’t believe. If I relocate I can cut my fixed expenses by such a large percentage that it might make the difference between surviving or closing up shop. I can get more space, a better location and save money all at the same time.
At the very least I should be able to renegotiate a sweatheart deal to stay where I’m at.
Here’s how it all went wrong. I assumed I had to notify my landlord 90 days before my lease expired that I wasn’t going to renew. Wrong! There was an addedum stating I needed to notify 4 months before the end of the lease. I missed the date and my lease automatically renewed at a higher rate.
So the moral of the story is know your lease. I know this sounds ridiculous but make sure you know the date your lease ends and how far in advanced you need to notify your landlord. Get out there and see whats available in competitive locations. I’m stuck with lemons, but maybe you can make lemonade. And if you do make a move and you need some office furniture to fill your new space then check out my new and used office furniture at www.joedesk.com
Joe Desk
