Management & Operations

Very few small businesses hire a tenant representative to help them find the right office, retail or industrial space. Often a small-business owner doesn’t want to delegate the job. Or, they may feel the modest scale of their needs precludes them from representation. But the truth is tenant reps are equipped and eager to help virtually all businesses — often free of charge. And by handing off the process to a pro, small-business owners in particular end up saving many hours on a search process that can last anywhere from two weeks to six months. Those are opportunity costs that can quickly add up, and keep owners from daily duties related to their core business and competencies.

According to the Association of Certified Fraud Examiners, more than 40 percent of frauds are uncovered through tips. Organizations should consider implementing a third-party anonymous reporting system for employees to report fraud, in either the form of an external hotline number or an online submission form that employees can use to report suspicions. Many third parties provide this service for a reasonable fee.

The human tendency is to only do things that come naturally and to engage in ‘magical thinking’ about everything else – - to think if you ignore something it will (magically) get done or cease to matter. Don’t believe in magical thinking, particularly around something as critical as building your customer base. You must find a way to do it all.