The Office of Tomorrow Isn’t What It Used To Be
Commercial Real Estate and the Office of Tomorrow
What is an office? What does an office represent, and will offices survive in the future?
From one aging perspective, the office represents the epitome of modern work. It’s a place that houses engines driving processes and directs the flow of money. Despite the decentralization of “the office,” there still is room for growth.
In fact, the United States Commercial Real Estate market is estimated to grow at a 3.5% CAGR with a value of more than $1 trillion USD between 2018 and 2027 (2021 is the base year), according to a report from Mordor Intelligence.
Some in the industry see smaller, local offices, like ‘branch offices’ becoming normal for mid to enterprise-level companies, shifting a controlled workspace closer to ‘remotes ‘in the form of comfortable satellite locations. Indeed, could we see coffee houses owned by Ford Motor Company or Price Waterhouse in small-town America?
Despite projected growth figures, lease renewals will remain a looming disturbance over the next couple of years, especially as the industry braces for a slew of non-renewals and acres of unleased, unoccupied floorspace. Anyone selling into office environments has a vested interest in the commercial real estate industry because a downturn in occupancy equates to fewer computers, printers, and copiers in the field.
What should you be doing?
- Remember the satellite office – bundle products and services specific for ‘Work From Anywhere’
- Provide unique to-the-office technology – faster internet, bigger monitors, livestream studios, talk about interactive wall displays, and digital assets not found in a household
- Embrace the Digital Nomad Culture – it’s here to stay, so continue to model and share your remote work policy and drive implementation
Is MPS Really Dead? No. Well, sorta.
Managed Print Services, the active management, and optimization of output devices and associated business processes has been “mostly dead all day” as the universe of printed documents shrinks. But the idea survives, and contracts are being written.
Is MPS a tool for growth or a boondoggle?
Office technology providers across the spectrum are reporting higher than anticipated sales and volume nearing or exceeding pre-Covid figures. According to a recent report from Adroit, the global managed print services market will achieve an approximate value of $91.45 billion.
Additionally, European interests in the North American MPS market suggest outside interest in a mature market. Managed print services is experiencing a renaissance just short of a resurrection.
Despite the drop in universal print volumes, there are plenty of unmanaged devices. So no, managed print services should not be overlooked.
What should you be doing?
- Keep managing your existing contracts and actively seek out unmanaged assets
- Consider the aggregate opportunity of three companies with ten units each representing a fleet of thirty devices: not three accounts.
- Implement flat-rate subscriptions; not MPS contracts.
The Office as You Know it is NEVER Coming Back. How are you going to sell?
Before September 11, 2001, every medium- to enterprise-size business had a front desk and receptionist. Salespeople walked through the front door without an appointment and rarely had to outrun security. Strolling in through the back door, into the shipping department, and claiming to be lost, was a technique taught in many “How To Sell” courses.
Then everything changed. Instead of a friendly smile, the norm became bulletproof glass, intercom systems, and armed guards.
Before Covid, we would perform the same ceremonies from account to account, coast to coast. We shook hands when greeted and conducted small talk while strolling to the conference room. When the big decision-maker walked in, we all stood. We introduced ourselves by handing out cards and talking about the weather. Our PowerPoint presentations were laborious yet tolerated. We terminated our meeting by answering questions, shaking hands again, walking out, and driving home or to the office.
Then everything changed. Video screens, wandering children, barking dogs, and meeting in pajama bottoms became the norm.
Trading value received for value given remains the same, but the journey to success – from the customer and seller’s point – has shifted more than ever. Selling involves trust and right now trust is not a commodity.
What should you be doing when you sell?
- Stick to the basics – don’t use jargon or talk above the prospects or your peer’s head
- Increase your online presence and personal brand – your prospects and the people who advise them, visit the web
- Expect fewer devices and less print – sell wisdom, acumen, and support – not speeds and feeds
- Print is disposable, so too will IT – Sell differently. Consider eCommerce and higher business acumen
It isn’t disruption anymore, it is turbulence. Riding out the storm is a choice. Good luck this week.
5 Ways to Boost Your Organization’s Productivity by Mastering the Digital Workplace
GoTo’s (formerly LogMeIn) Head of Digital Workplace manages 3,000 remote employees and recently polled 3,700 SMB owners and executives to understand how to boost an organization’s productivity. Technology was a very consistent theme among respondents, as it has taken a major role in how we work and interact with one another.
The survey also reveals five actions to help maintain a productive workforce. At the top of the list is “Regular work equipment maintenance” as it was cited as a secret to protecting businesses and employees throughout potential economic downturns.
Read the other suggestions here.
Managed Print Services Is Not Dead. It isn’t even taking a nap.
How do you see the MPS market in the U.S.? What makes it unique? Do you see it as a growth market? Nicola de Blasi, CEO of MPS Monitor was asked this question. His answer is illuminating. “…if it’s a mature market, with dominant players and a challenging environment, I definitely see it as a growing market for companies like MPS Monitor and Euroform, and I think that Valsoft comes at the right time, investing in it and fueling this growth.” More, here.
At a 9.62% CAGR, Managed Print Services Market to Hit USD 91.45 Billion by 2031.
Following the same path as the ‘paperless office,’ the death of managed print services is greatly exaggerated. Indeed, some say the market will grow 9.62%, even in the shadow of Covid and the digital reformation. Numbers, here.
Most important benefits when participating in meeting remotely compared to in-person in the U.S. in 2021
Selling has always been performance-based, both in terms of deliverables and face-to-face presentations. The new way of work amplifies the selling professional’s on-screen presence. Interesting statistics around the subject, here.
The rise of the ‘chief remote officer’
While many firms have pivoted to hybrid or remote work in an ad-hoc way, others are creating a new role to oversee their workplace transformation. Is this just one more level, another decision-maker in the mix?
Remote working integrates all aspects of office technology and a healthy degree of organizational behavior/HR concerns. Many companies have struggled: virtual working has been a moving target with no precedent; organizations, in some cases, have implemented hybrid or work-from-anywhere policies without formal processes in place. Read the article here.
- HP laying off as part of the restructuring plan, just like everyone else
- COVID is back in China, with 28,000 cases
- More companies spying on employees
- New stuff from Zoom to reduce the “toggle tax”