Oct 4, 2013

Inspiration from Nature- Basic Building Blocks for Scaling a Business.



What is the basic building block for your Business? Well before you answer that question lets take a look at nature.



You will notice that there is a spiral pattern getting repeated.











This pattern is drawn more precisely like this.




Notice how the spiral can go on till infinity. The ratio of the sides of the rectangle is 1.618 and is known as the Golden Number. It is called so because this pattern is found so often in nature. It is almost like a basic building block of nature.

Nature builds one tiny "fractal" with the Golden Number / Golden Ratio and replicates it for scale. The same principle can be used for scaling a business. Get the Golden Number for your business and then it scales. For Starbucks it is the combination of the good quality coffee, the ambiance etc. Once you get the right mix the business is ready to scale. For Google it is search and being a repository of all information. For LinkedIn it is connections. For Facebook it is friendships.

The Golden Number is the inspiration for the Golden Square Business Centre Logo.



One needs to get the basic building block right for creating a business which will scale. All the components just in the right proportion. Getting it right needs insight, work, luck, time. And all this happens when the business is small, when it needs to be nurtured and needs a home. Golden Square Business Centre is that home, a safe harbor and has been that for more than 1000 companies in Bangalore since it started in 1995. While we have helped our Customers get started and helped them in their growth, we are growing as well. In a few days the 4th Branch of Golden Square will be operational in JP Nagar Bangalore. 


Interested in the Golden Number or Phi?

Those of you who have read the Dan Brown's, Da Vinci Code will recall Phi.

Oct 1, 2013

Why no Gold colour in Golden Square Logo?

Some friends ask me why there is no Gold Colour in Golden Square logo. Well there are two reasons, one to do with the meaning and the other more practical to do with printing.

"Golden" in this case is referring to the Adjective:- "Marked by prosperity, creativity etc." as in, 'the Renaissance was a Golden Era.'

"Square" stands for a meeting place, similar to a Market Square, where transactions and business happens.

The first logo of Golden Square did have a little bit of Gold colour. However we ran into practical difficulties in printing signage and visiting cards. Gold is not an easy colour to print. So we decided to have only Blue and Black. Why Blue? Well that is another story all together.

Golden Square:- The place for business prosperity.

www.goldensquare.in



Sep 16, 2013

Unfixed Costs- Costs should be in line with Revenue

A pile of Lego blocks, of assorted colours and...
A pile of Lego blocks, of assorted colours and sizes. (Photo credit: Wikipedia)
"We invested in anticipation, but it all went down the drain." A friend was recently recounting his experience. They were in the verge of getting a big software development project from a large company. In anticipation they invested in another office dedicated for this project. However the customer wanted them to do the project on-site. All the investment in the new office was a waste. "Golden Square's flexible office space options, makes so much sense," my friend declared, "Wish I had thought of this earlier."

In Golden Square we understand the fluid nature of business. That is the reason why we do not have lock-ins. Typically office space is contracted for more than an year. In Golden Square all we need is a Months notice to reduce space and a moments notice to increase space in our Dedicated Office plans.

One can start with say 3 seats and grow to larger spaces as the project grows. And the team spaces come fully furnished, with LAN, air-conditioning, reception, housekeeping, generator back up, errand services etc. So one can get going immediately.

We have designed spaces so that the monthly cost per seat is in the range of Rs.8000 to Rs.17,500 depending on the location and facilities. The cost includes overheads like, electricity, maintenance, reception support, telephone connections, LAN, Tables and Chairs.

So software teams, marketing teams, new companies to Bangalore find it extremely convenient to house their small teams in Golden Square Business Centre.

The Flexible Office Options make it much easier for companies to take on risk in an uncertain business environment. One needs to spend in sync with revenue and Golden Square makes this possible.

More more details on Dedicated office Plan check out:- http://goldensquare.in/dedicated-office.php 
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Aug 27, 2013

How to select the right office for a start-up?

"Cash is King" for a Start-up. Yet often one of the first things entrepreneurs do is spend precious money on setting up their office. Not only does a new office require capital, which is scarce for a start-up, there is a monthly fixed overhead which can be a drain in the early stages. Precious Cash needs to be focused on customer acquisition, product development and team.

Open Meeting Tables at Golden Square Koramangala
So what is the smart option for an office? Well simple, work from home, or a garage, or get a friend to offer you an office space. Figure out all possible ways to reduce costs. Nowadays it is quite easy to work from home, do meetings online and collaborate with team members. However there are things for which you do need a professional office space, like client meetings, team meetings and so on. For these you could use meetings rooms in Business Centres.

Golden Square for instance provides meeting tables, meeting rooms and conference rooms to its members. Very reasonably priced. Just Rs.80 / hour for a open meeting table, Rs.250 / hour for a closed cabin, and team meetings can happen in a conference room for just Rs.600/ Hour.  The Snap Office website has more details.

Conference Room at Golden Sqaure Koramangala
So some of our start-up clients work form home and block conference room time twice a week for their team meetings. They do all their planning and review comfortably, since the conference rooms are equipped with projector and Wifi. In this way office overheads come down drastically.

Some businesses need a lot more co-ordination happening between team members, in which case from a productivity point of view, they do need an office. Golden Square provides team spaces which work out 50% cheaper than having one's own office specially if the team size is around 5.

Here is an article which gives an idea of how to figure out how much different office options cost. 





Aug 19, 2013

Rules for a Productive Meeting

Time is precious. A properly managed meeting can lead to a significant saving of time. But the latest studies show that most of the meetings are a huge drain to the company time. On an average, 31 hours of unproductive time is wasted on meetings every month.














We, at Golden Square, host several meetings per month for our clients. From our experience, here are some tips, which you might as well consider rules, for a productive meeting.

1.  Schedule the meeting at an OFF PEAK hour: Most of the meetings take place on Wednesdays and Thursdays. These days are prone to heavy work and deadlines, and a minute spent on a meeting is a minute you do not spend on execution.

Some suggested time slots are Monday and Tuesday afternoons around 3PM.

2.  Abolish Monday Meetings: A meeting at the beginning of a Monday is all too common in most companies. Calling a meeting just because “it is a Monday” generally leads to, what is now popularly known as, “posting meeting”. These meetings are basically to share updates and to bring everyone on a common page. Actions Steps are elusive.

These updates can be shared using emails or a common update platform.

3. Agenda. Beginning Time. End Time. : Never call a meeting without a select set of agenda. This will keep the meeting focused, as well as can serve as a checklist. Beginning time is crucial, but more important is the End Time.

An End Time will keep the discussions short, and force the members to be more focused. It also helps in dividing the time for your other daily actions.

The agenda, beginning time and end time must be shared with all the expected members of a meeting, well before the meeting begins.

4. Every meeting must lead to Action Steps: At the end of every meeting, every member must leave with a set of Action Steps. This will ensure that the just finished meeting is productive. If a member does not have an action step, he / she has every right to question the call for the meeting.

These are just few of the tips for a productive meeting. We would like to hear if there are certain steps which you are taking to make your meetings more productive and how effective are those.

Use Golden Square for Productive Meetings: http://snapoffice.goldensquare.in


Jul 30, 2013

Advantages of Virtual and Shared Office

Whether you are a new business or a large business looking to set up operations in a new location, it is imperative to have a physical space to call an “office”. However constructing a new office and setting up the new infrastructure is a long and time consuming process. Not to mention, it might not be the most cost effective option if you have just a handful of people working. Even if you do manage to get a physical location and the basic amenities such as internet and telephone, it will still lack meeting rooms, receptionists, projectors, etc.

In order to address these challenges for businesses, a new concept of shared office and virtual office has emerged. In this offering, a business can rent out a fully furnished office complete with reception services, communication services, meeting rooms, cubicles etc. by the day or even months depending on their requirements.














Some of the other benefits of the shared/virtual office (apart from the cost and above mentioned conveniences) are:

1. Location: Most shared and virtual offices are located in the central business districts of cities. This makes it easy for clients and employees. It also makes the company look and feel more professional.

2. Networking: This concept also allows you to share office spaces with other businesses which can lead to several networking opportunities and benefit from potential synergistic opportunities.

3. Technology:  Shared and virtual offices generally are equipped with the latest technology solutions such as projectors, conferencing solutions, IVR, remote management etc. which help the businesses take off immediately.

4. Back office support: Whether you need copies of documents or processing of incoming mail, the
office staff can help you out with small errands and mundane tasks to help you focus on growing your business.

So what are you waiting for? If you have such a business requirement in Bangalore, get in touch with Golden Square today! Visit http://goldensquare.in for contact details and more information.

Jul 3, 2013

Virtual Office is a Boon for Businesses

Owning a Prime Business Address is a matter of Pride.
Gone are the days when professionals were required to work only from a physical office from 9 AM to 6 PM daily. Today, the shape of the way the businesses are done has changed. With advanced technology and smarter ideas of working, it has provided companies with the option of working virtually from almost anywhere in the world. This way of working has lot of benefits to companies.
There are numerous advantages of virtual office but before that one should understand its features. It depends on companies and their requirement to opt for a suitable choice. As the information age started in 1990s with globalization, innovative solutions were required to aid company expansions and multi location presence. This was the time when Virtual Office Services came into being and helped such companies with smarter ways to conduct business.
Replacing the traditional brick and mortar offices with the help of business centers, Virtual Office gives alternative office solution that adapts to the new business requirements. It provides the workers with a flexibility to conduct businesses while keeping their work life balance fair.
This concept is very useful for a fresh start up company. They have big cost constraint and making investments in office infrastructure is definitely not a wise thing to do. But at the same time there has to be a business address for mailing and registration purpose. There might also be a requirement of a professional place to conduct client meetings, team briefings and trainings sometime. This is when Virtual Office facility comes into play. In good business centers like Golden Square, the services can be designed to suit your specific business requirement. Following are some of the benefits you can get by having a Virtual Office membership with Golden Square:

  • Prime Business Address
  • Mail handling and delivery
  • Dedicated phone number answered in your company’s name
  • Live Reception Services
  • Use and pay office infrastructure like meeting rooms and private cabins
  • Professional Business Lounge
  • Administrative and secretarial support on demand
  • Call forwarding and answering services
  • Company Signage in the reception area
  • Voice Mail Facility

Multi National companies can also open their branch offices this way. The services of virtual office help all sizes of business in drastic overheads reduction associated with physical office.
There are many service providers in the market offering Virtual Office but smart businesses choose prime locations for their business address.

May 28, 2013

Genesis

This is the first blog so it makes sense to start right at the beginning. Why did we start Golden Square?

The plan was hatched in 1994. I had decided to become an Entrepreneur and looking for good ideas.

Someone suggested why not a Business Centre? The idea appealed to me. India was just opening up, after 1991 the wind of liberalization started blowing in the country. Just a few years back IBM had come back to India, there was a lot of new business activity likely to happen. However starting a new company in India was  still not so easy. Just getting a new telephone connection used to take 6 months and that was considered fast. So the idea that we could make it easy for companies to get started in Bangalore appealed to me. There was a definite need.
The 1st Unit of Golden Square at Vittal Mallya Rd. Bangalore.

We were not the Pioneers in the Market. DBS was an established player. There were several others like Pan Asia Business Centre and Executive Chambers in the Market. So we set out to do a Market Research. There was this one incident which was a defining moment for Golden Square. I had just visited a well known Business Centre and as I was leaving I saw a customer, a foreigner, rush out of the reception. As I went out I saw this customer go to a Telephone Booth and I saw him make a call from there. Long distance Calls (STD and ISD) calls used to be very expensive those days, and this gentleman obviously was trying to save money not willing to pay the charges of the Business Centre.

This did not make sense to me. Was the business centre not supposed to be like an office? If so should one not feel comfortable making a phone call from ones own office? This is when we decided that in Golden Square our customers should never feel like going outside to avail of any service. Our pricing will be such that it makes long term business sense for small teams to use Golden Square as their regular office.

This is the big differentiator of Golden Square. While most Business Centres price their services as if they were Hotels, thinking of their customers as being there for the short term. In Golden Square we believe a customer is for life. We have designed and priced our services so that it makes sense for a small team.

No wonder we have customers who have been with us for more that 15 years almost since the beginning. The only reason customers move out is when their team size grows more than 10. That is when it makes economic sense to set up their own office facility.




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