"What Did They Just Say?"

"So ... tell me something about your business?" 

It's a common question that comes up at networking events and many other business/social interactions.  WHAT comes NEXT could go in a thousand different directions!

One of the keys to good understanding and the building of mutually beneficial business relationships is found in good communication. 

And one of the basic building blocks in good communication is to use language that can be readily understood. That's why it's wise to assess the appropriateness of using industry jargon, buzz words, acronyms, insider terms, and other technical language, particularly when first meeting. To proceed without making this assessment runs the risk of "closing-down" a conversation fairly quickly - if you know what I mean!  😕 

Whether you were the "perpetrator" or the "victim", the challenge of building the business relationship just increased! 

"Jargon" has a place - it just needs to be the right place, with the right people, and at the right time!

Connected to this - we have two quotes:

1) Fans of the television show "The Big Bang" will know the name Johnny Galecki who is quoted: 

"We can't really do any improv on 'The Big Bang' because we don't understand a lot of what the dialogue means to begin with, because of the physics jargon."

2) And for what might be a very accurate observation on this, a quote from Christie Hefner:

"Try not to be either intimidated by or a captive of jargon. Even though it's language, and language is about communication, it often exists actually to obfuscate and to control power and not to communicate."

NOW, to try applying the above for those signing or renegotiating their Commercial Lease Agreement - we trust that you'll enjoy the following article from Dale Willerton and Jeff Grandfield with The Lease Coach.
 

Negotiating Commercial Leases & Renewals FOR DUMMIES

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield and Dale Willerton – The Lease Coach 

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate. 

As explained in our new book, Negotiating Commercial Leases & Renewals FOR DUMMIES, tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line. 

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants:

Know Your Buzzwords: Every industry has its buzzwords and commercial real estate is no different. Our clients commonly ask us what a word means following a meeting with their landlord or a leasing representative. There is no shame in not knowing but you must ask for clarification. The Lease Coach has prepared an excellent glossary containing 200 words or phrases used in commercial leasing. This glossary can be found in our book, Negotiating Commercial Leases & Renewals FOR DUMMIES, and would be very valuable to any tenant.

Use the Franchise Advantage: If you are thinking of joining a franchise system, lower rents should await you. However, a franchisor hungry to sell you their franchise concept or one using a landlord-paid broker to negotiate for you may not be doing you any favors. A franchise name is often more desirable to a landlord. Talking to existing franchisees in the same system is always advisable.

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to JeffGrandfield@TheLeaseCoach.com.

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals FOR DUMMIES (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com  or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.

What's been your experience? Feel free to add your comments and we'd very much appreciate if you would share this post with those in your circle of contacts.

 

Could you use some help with your BUSINESS PLAN?

Over the years we’ve found that there is great value for an entrepreneur to put together their own business plan, yet we also recognize that writing one can be a daunting task! Perhaps you’ve experienced some of the challenges faced in writing a business plan. 

We'll work with you and assist in the gathering of information that you'll need to have in your business plan to effectively describe your business opportunity. This service takes a consultative approach to gather information from you and works with you to craft a business plan that's tailored to your needs.

For more information see:  
Option 4 - “PVS - Business Plan Writing” listed on our Website Registration page: CLICK HERE