The subscription economy is here to stay. What does this mean for businesses and consumers? A successful strategy is for companies and consumers to subscribe to services rather than buy products. Let’s explore how subscription services are quickly evolving. Subscription business model concepts. The pandemic accelerated the growth of the subscriber model at a rapid rate. Those businesses that are not implementing this could miss out or lose to their competitors. Once companies or consumers shift to subscriptions, they rarely convert back. It’s a transformational change that is happening throughout the economy. Companies implementing this model correctly can predict revenue and profitability with much more accuracy and targeted focus. Businesses are upgrading to subscription models to ensure they do not lose out on the benefits of an ongoing consumer experience. In a high visibility example like Microsoft 365, consumers can reap the benefits of the software with a piecemeal monthly or annual fee instead of shelling out thousands of dollars every few years. Cancellations are the biggest threat to the subscription model. However, embracing cancellations can lead to greater consumer retention and increase business transparency. Moreover, by surveying those who cancel, business leaders can find a depth of data to help shift their approach to renewals and consumer loyalty. To retain consumers, businesses must create an experience that speaks for itself. Consumers can get a product anywhere but stay loyal for the expertise and community feel a brand provides. While it is essential to plan for new subscribers, it is just as important to focus on retaining current ones. Businesses should focus on how to build long-term, sustainable relationships with consumers focused on what they want with complete transparency. Utilize tactics that create meaningful connections with subscribers. Surveys, social media engagement, and listening to...

Recruiting new staff topped many company’s lists of challenges in 2022. With a new year on the horizon and the job market still siding with job seekers, let’s explore some tips to help you hire the best employees on the market in 2023. First, effectively communicate your company’s core values and culture. Lead with integrity. Without effective marketing of your corporate mission, vision and values, your recruiting process will fall flat. Your ideal hire will be compatible with these values and excited to embrace your corporate motto as their own. Look for an attitude and outlook that’s positive, proactive and productive. Training job-based skills will be no problem if you’ve found a strong personality match. Leverage your network. Referrals from current employees, social media, and mentors are great networking resources. “It’s not the lack of resources, it’s your lack of resourcefulness that stops you,” says Tony Robbins, entrepreneur, and American best-selling author. Resourcefulness includes home grown networking, so encourage current employees and trusted industry colleagues to share your job postings. “Turn your employees into recruiters by encouraging employee referrals. Alert them to open job requisitions, and motivate them to recruit talented friends with monetary and other incentives—extra time off, prime parking spaces, free lunches, etc. One of the hidden benefits of hiring via employee referrals is that your employees probably know more about your corporate culture than external recruiters—and more likely to recommend candidates that will end up being a good fit,” shares Laurie McCabe, co-founder at SMB Group. When recruiting new talent, take care to ensure that they vibe with your current staff. Teamwork has a direct effect on productivity and profitability. Teamwork makes the dream work! Be sure to prioritize communication skills. Communication skills are more subtle than hard skills like technical knowledge, distinguishing...

In 2016, major cities such as Hong Kong have seen a significant 45% increase in the amount of coworking office spaces being offered. Similarly, the past two years have resulted in more than 100 operators providing coworking environments in China’s top cities and more than 20 in Singapore according to JLL reports. Although numbers still lag behind those in the West, the proliferation of coworking spaces in Australia, Singapore, China, and other metropolitan areas in the Asia Pacific region show a growing inclination for flexibility and non-traditional offices for both employees and corporations alike. A trendy alternative Coworking is a style of work that involves sharing a space with others not employed by the same company. Occupiers of a coworking space generally have access to a number of resources including wifi, private offices, conference rooms, cafes, work desks, and communal space on a shared floor. Coworking spaces also provide a low risk, agile solution for companies and individuals that do not want to invest in the high fixed costs and long leases required of a traditional office. Yet far more than the resources, the greatest value in coworking comes from the relationships, knowledge sharing, and collaboration fostered by accommodating people of various industries, backgrounds, and levels of experience into one single workspace. Nowadays coworking spaces can take on a variety of forms from ones that are catered to freelancers and startups to those for a single business. Corporate interest in coworking, especially, is growing. More and more businesses see the value in sending their employees into a community in closer contact, as JLL Singapore research analyst Jiemei Tan describes, “with startups, entrepreneurs and freelancers, [that] allows for an unhampered exchange of ideas with these stalwarts of innovation.” In the Asia Pacific region too, the...

Imagine that it is the end of the month. It’s time to balance the books. Now, imagine that the entire process is gone from your schedule. Every transaction that your organization made that month was automatically balanced and recorded by an automated, accurate, secure and self-regulated system—completed within seconds. This is just the tip of the iceberg when it comes to the potential of blockchain in real estate. Today, most organizations maintain double-entry bookkeeping, a written record of invoices and payables. Those records are easily lost, manipulated, or remain unfulfilled. Blockchain does not possess such flaws. The Economist excellently describes blockchain construction and how the transactions occur anonymously, securely, and accurately. In gist, blockchain is a database that securely tracks bitcoin transactions. It relies on cryptographic technology to store completely paperless ledgers of transactions. Once a transaction occurs, it cannot be easily manipulated. The ledgers are self-enforcing and practically impregnable. Workflow efficiency effortlessly improves. Blockchain replaces third-party financial systems, such as banks, which tend to slow down transaction processing. The automated system decreases human error. The technology could replace double-entry bookkeeping. But that barely depicts the sophistication of the database. It has even greater potential and companies are exploring its vast applications. A recent Deloitte survey reveals just how many companies are investing in blockchain. The survey reflects the responses of 522 senior executives at companies with annual revenues exceeding $500 million. Of respondents, 12 percent were knowledgeable of blockchain and have projects in the works to capitalize on the technology.  Of that group, 28 percent have invested more than $5 million into their projects. About 10 percent invested $10 million or more. An additional 25 percent of respondents reported project plans for 2017. Each company has earmarked approximately $5 million for those endeavors....

After signing its first agreement to purchase all the electricity from a 114-megawatt wind farm in Iowa in 2010, Google set the target to be powered 100 percent by renewable energy only two years later. According to one of the company’s latest blog posts on the initiative, the said target will be reached in 2017, following a complex process involving many power purchase agreements. “To reach this goal we’ll be directly buying enough wind and solar electricity annually to account for every unit of electricity our operations consume, globally. And we’re focusing on creating new energy from renewable sources, so we only buy from projects that are funded by our purchases,” said Urs Urs Hölzle, Google’s senior VP of technical infrastructure. Technology companies have been criticized for the carbon footprint of their operations, which have expanded so fast they now account for about 2 percent of global greenhouse emissions, rivaling the aviation industry. The internet giant is already the world’s biggest corporate buyer of renewable electricity (Amazon is a distant second), last year buying 44 percent of its power from wind and solar farms. The majority of the green power comes from windfarms in the U.S., but also from projects around the world including sites in Sweden, the Netherlands and Chile. In order to get here, Google took part in a number of large-scale deals with renewable producers, guaranteeing to buy the energy they make with their wind turbines and solar cells. Those guarantees help wind companies obtain bank financing to build more turbines. One of the most attractive, cost-efficient features of wind power is that, unlike carbon-based power, wind supply prices don’t fluctuate, thus allowing Google to plan better. Moreover, the more renewable energy it purchases, the cheaper those sources get—in Chile, Google said,...

Taking over abandoned storefronts and long-shuttered factories, breweries are breathing new life into cities across the country. Job interview, proposals and book clubs represent just a smidgen of activities occurring at your local brewpub. In the last few years, cities across the US have experienced a brewery renaissance. From empty storage units to abandoned storefronts, microbreweries are choosing to open taprooms and brewpubs in economically depressed neighborhoods, bringing in new jobs and creating a sense of community. “People tell me, ‘It feels like I’m at my best friend’s place,’ ” Jim Jamison, founder of Foggy Noggin Brewing, tells Imbibe magazine. “ There’s even been a proposal, and another guy asked for permission to marry someone’s daughter. It’s a place where people want to meet.” Pint-Sized Urban Renewal In a recent article for The Atlantic, writer James Fallows identified “Eleven Signs a City Will Succeed.” Wrapping up a list ranging from community engagement to politics and education, craft breweries came in at number eleven. Calling it “perhaps the most reliable” marker of a city on the rise, Fallon believes having a brewery within city limits provides clear evidence of urban renewal. “A town that has craft breweries also has a certain kind of entrepreneur, and a critical mass of mainly young (except for me) customers,” he writes. “You think I’m joking, but just try to find an exception.” Close Communities That entrepreneurial spirit does more than invigorate local commerce; many local breweries make a point of giving back to the community. In Philadelphia, for example, Crime and Punishment brewery sponsors Little League team, while over in Dallas, monthly pet adoption events take place at Community Brewing. Detroit’s Batch donates a portion of its taproom sales to charity and Colorado’s Green Flash’s brews a special pink IPA...

If you think cybersecurity is “just an IT issue,” better think again. Experts agree that cyber risk in the multifamily industry is largely underestimated, given the volume of personal and financial data multifamily companies collect and maintain about their prospects, residents and employees. And the fact that many real estate organizations rely on third-party service providers to collect and protect data further increases exposure to damaging cyber incidents. What are some of the common risk factors? Using disparate software solutions and multiple vendors with various interfaces and logins elevates exposure to breaches. To further complicate matters, information security programs in the multifamily industry tend to be relatively less sophisticated compared to more heavily regulated sectors such as banking and retail. Since cyber criminals will always take the path of least resistance, this poses a major threat to the industry as a whole, which maintains information about tens of millions of Americans. And after a well-publicized breach in 2014, the multifamily industry is — or should be — on high alert. To not only reduce risk but also to increase operational efficiencies, many companies have made the move to a single platform — and now consider it a best practice to consolidate core property management and accounting along with ancillary products in one database supported by a single vendor. And while no business can expect to achieve perfect security, in the current cyber threat landscape with so much at stake a comprehensive plan — and one point of contact for software and services — can mean a direct line to better peace of mind. At the NMHC 2016 spring board meeting, panelists emphasized that cybersecurity is not simply an IT problem, but rather an enterprise risk management issue. Developing a strong cybersecurity program is not...

What happens when interior design mimics software development and architecture merges with technology? For the founders of WeWork, the end result is a property management hybrid that owes more to start-ups than real estate agencies. With an estimated worth of $16 billion, founders Adam Neumann and Miguel McKelvey have managed to elevate the business of renting office space in a way that appeals to millennials and embraces the versatility and tech-savvy innovation of Silicon Valley. Unlike other workspace rental companies, WeWork aims to provide more than just a desk and some Wi-Fi. WeWork memberships provide a whole host of benefits. WeWork’s 50,000 members can expect “super-fast Internet,” cleaning services, on-site community managers, and free coffee, tea, fruit water and, of course, beer on tap – all for tiered fees ranging from $45 to $1000 per month. Tailor Made Office Space For quick deployment, uniformity is an essential aspect of the company’s business model. As it turns out though, a typical WeWork office is not so typical. The Williamsburg locale features all the accoutrements of the hipster lifestyle – craft beers, exposed brick, and wood paneling abound – but WeWork offices are customizable based on location and need. Customization is achieved through innovative use of Building Information Modeling (BIM). BIM trades blueprints for digital models. Through digitization, building designers can plan for the lifespan of a project, from construction to cost management and facility operations. The ability to adapt appealed to WeWork’s founders. After collaborating with architectural design firm Case on several WeWork locales, they eventually purchased the company. “When you go to a normal architecture firm they aren’t going to be innovative in terms of their systems,” McKelvey told Wired. “They’re not going to be thinking of the whole lifespan of this project, or how do...

Do you want your listings to appear at the top of Google search results? Of course you do. Capitalizing upon your Google Business Listing is the first step towards a higher ranking. During our recent Open Café session, we polled 100 users from across the U.S. to learn if they maximize the potential of their Google Business Listings. This is what we learned: 55 percent of people surveyed have claimed their Google Business Listing 27 percent of users were not sure if they had claimed their Google Business Listing 18 percent of people surveyed have not claimed their Google Business Listing Your Google Business Listing is a quick, inexpensive way to enhance your digital presence and connect with prospects. It is the bridge between your property and prospects in your area who are searching for what you have to offer. By investing a little time in your Google Business Listing, you are making it easier for prospects to find your property through organic search as well as a listing in Google’s Local Pack. You’re likely familiar with Local Pack, even if you didn’t know the name of it. The Local Pack is composed of three business listings and a map that shows their location. Businesses that make it onto this top three list are more likely to get clicks since they are prominent in search results. Interested in joining that Local Pack? Here is how to get started: The Foundation Be sure to input all requested data on your Google Maps My Business Page, including hours of operation and details about your location. These key points will help Google match your property with the location terms used in searches. Proximity matters. “Near me” searches have increased by 130 percent in the last year. About...

Today’s professionals can’t afford to miss a beat. Fulfilling client expectations often requires constant connectivity and reliable mobile access. We’ve narrowed down some of the best laptops for professionals that deliver the power, durability, and advanced features that you need to stay on top of the competition. Best Overall We hear so much about the Apple MacBook Air that we figured tech magazines must be getting some sort of kickback. Truth is, the MacBook Air family has earned its reputation. The ultralight, 3lb machine is effortless to lug around, which comes in handy when you’re running through airport terminals or dashing to a cab. Professionals can choose from 11” and 13” monitors, both offering quality displays at a wide variety of angles, perfect for quick meetings or demos around the machine. A sensitive touchpad makes navigation quick and easy. Both MacBook Air models come with a 1.4-GHz Intel Core i5 processor, which is powerful enough to get you through most work functions, though not the best available in its class. With 4GB of RAM and 512GB SSD you’ll enjoy speedy, robust operations even with multiple programs running. The FaceTime HD camera provides crisp, clear images so that you can get the most out of your web conference. With a battery life of 12 hours, you can complete the average workday without being tied to an outlet. Best Ultrabook While MacBooks are receiving their due, the Dell XPS Series—with screens ranging from 12”-18”—is causing a rumble of its own. It offers a matte aluminum casing that’s lightweight, durable, and exquisitely designed. The contoured keypad makes content creation more comfortable on the wrists and hands. The responsive touchpad facilitates easy operation, though with an optional Quad HD+ (3200×1800) touch display you may not need a touchpad...

The Securities and Exchange Commission has proposed rules that would permit small companies to seek funding from the general public. Crowdfunding has grown in popularity among artists and inventors. Companies that create home security gadgets, tiny appliances for micro-apartments and sustainable furniture have all received public funding via platforms like Kickstarter. If the proposed rules pass, fledgling housing industry companies can get their businesses off of the ground with the help of the upper middle class. Under the new rules, companies could raise as much as $1 million each year from the public. Shares can be sold in face-to-face transactions and through online funding portals, similar to Indiegogo and Wefunder but with more stringent regulations. Such opportunities could help small companies gain quick access to capital, increasing the success rate of startups. For Startups The new source of funding couldn’t come at a better time. As the nation recovers from the recession, many are regaining the confidence needed to step out and fulfill their entrepreneurial goals. They can’t afford to vie for the generosity of a few accredited investors, entities whose net income exceeds $1 million. Startups are looking for more easily accessible investors and they are in luck. Many Americans, eager to shrug off recession woes, are seeking new ways to make their money grow. The time is ripe to unite these entrepreneurs and new investors. The proposed changes are not an entirely new idea. The JOBS Act outlined regulatory guidelines that paved the way for crowdfunding. The act also forged the trail for funding portals, third-party internet-based platforms for offering and selling shares. These portals will not be registered as brokers, nor can they offer insights or suggestions on investing.  They operate without SEC approval. This is great news for businesses hoping...

As busy as business travel might feel, it can actually be a sedentary lifestyle. After hours of sitting on a plane  and munching airport food snacks, we shuffle into a cab. Then we chug coffee while sitting in meetings for hours. To wrap up the day, we go out to restaurants for dinner and cocktails before repeating it all the next week—or the next day. It takes a concerted effort to stay healthy when travel consumes much of our schedules. Making healthier decisions during travel can carry a great impact. We can minimize stress levels, improve our physical health, and ultimately decrease healthcare costs for ourselves and our companies. These healthier decisions usually start off small (and sustainable) before growing into lifestyle changes that can improve our well-being. Looking for a place to start? Begin with a few fun tips for staying healthy on the road. Airplane cabins have a relative humidly of less than 10 percent. That’s more arid than the Sahara! Low humidity and recirculated air lead to dehydration. Even mild dehydration causes fatigue and limits our ability to concentrate. Beat the odds by drinking at least 8 ounces of water for every hour that you’re in flight. That awkward little travel pillow is worth the space. Take the pillow and enjoy a nap. Good rest helps to rejuvenate the mind and the body. We can see health benefits with as little as 10-30 minutes of nap time. Pack healthy snacks into your travel on.  Healthy snacks that are high in fiber and vitamins provide energy for our bodies and enable us to fight off sickness. They also keep our metabolism active throughout the day. That Vegas buffet can be a nightmare for any professional who is attempting to stay healthy. Two...

If you think you aren’t utilizing a cloud computing solution, think again. There are clouds everywhere. In fact, they are so ubiquitous that we may not realize we are using them nearly constantly as we navigate our professional and personal lives. Just like A.A. Milne’s Eeyore with his little gray cloud always following him around over his head, the cloud that houses our digital data is ever-present today, even if you haven’t set up your own personal cloud or have yet to transfer your business data to a cloud-based solution. But it turns out that plenty of people still don’t understand what cloud computing is all about, and may not want to admit it. If this is you, read on. Here’s what you don’t know about the cloud. 1. Despite the fact that we just used that really cute Winnie the Pooh analogy, cloud computing has nothing to do with clouds in the sky at all. It’s a term referring to software and data that’s hosted on a remote server network,  and accessible by you or your employees without requiring a direct wired connection to that information.  Where did the term cloud come from? “IT professionals have used a cloud icon while drafting network diagrams forever to symbolize the Internet,” explains James Beane, Manager of Cloud Services for Yardi Systems.  “Eventually organizations starting taking data out of the local environment and putting it into ‘The Cloud.'” 2. If you use web-based email, social networking sites like Facebook, Twitter, Pinterest or YouTube, photo sites like Flickr, Tumblr or Instagram, software hosting services, or just about any computer service that utilizes the Internet in some way, you are uploading data onto clouds all day long – you just don’t think about it. Where do you think...