7 ms·

Best thing I ever saw a boss actually tell their employees was the budget breakdown for the coming year (CEO speaking to all 30 staff, so obviously not a public

Best thing I ever saw a boss actually tell their employees was the budget breakdown for the coming year (CEO speaking to all 30 staff, so obviously not a publicly listed company). Staff saw themselves charging out $100/hour and being paid $40/hour, and felt they were being ripped off by the owners. First item on the budget was a rent bill of almost a million dollars, secured personally by the owners. Changed the whole money dynamic in the business, as suddenly everyone understood that the cost of running a business was more than salaries and the occasional photocopier repair.

rgbrenner 14y ago
What? $1m for 30 workers? 180sq ft per worker (average) * 30 = 5400sq ft. so $185.19/sq ft Please tell me that either: it was used for more than just office space (so it was like 50,000sqft), or that it was plated in gold. Because if this was normal 5400sqft office space, then I'm pretty sure he lied. For comparison, I'm in Denver. Office space averages $20/sqft[0]. Edit: found this article: 17 most expensive places to rent office space[1]. For $185/sqft, you would have to be in the most expensive place in nearly the most expensive building in the US. [0] http://www.metrodenver.org/metro-denver-economy/monthly-summary/2012 http://www.metrodenver.org/metro-denver-economy/monthly-summ... [1] http://www.businessinsider.com/most-expensive-places-for-office-space-america-2011-9?op=1 http://www.businessinsider.com/most-expensive-places-for-off...
- JacobAldridge 14y ago
  I rounded some of the figures, so for the sake of accuracy: [1] They had 32 staff, and were planning to add 5-6 more and have the ability to add 10-12 more if they wanted [2] It was a fairly nice office - not gold plated, just really spacious (multiple meeting spaces, kitchen, showers, library etc) [3] The rent was closer to $850Kpa than $1M - again, rounding [4] They signed their lease in the middle of a commercial property drought Factor those in with your average sq ft per worker and I think it gets closer to $100/sq ft. I couldn't tell you the actual square footage - you may be right that they were paying above the odds; she (CEO was a woman) would argue that it was worth it for the location, the cultural elements of spacious working conditions, and the capacity for future growth. [Edit: I also changed the charge out rates and salaries, to de-identify the client and because they were beside the point of the story.]

rgbrenner 14y ago

What? $1m for 30 workers? 180sq ft per worker (average) * 30 = 5400sq ft. so $185.19/sq ft Please tell me that either: it was used for more than just office space (so it was like 50,000sqft), or that it was plated in gold. Because if this was normal 5400sqft office space, then I'm pretty sure he lied. For comparison, I'm in Denver. Office space averages $20/sqft[0]. Edit: found this article: 17 most expensive places to rent office space[1]. For $185/sqft, you would have to be in the most expensive place in nearly the most expensive building in the US. [0] http://www.metrodenver.org/metro-denver-economy/monthly-summary/2012 http://www.metrodenver.org/metro-denver-economy/monthly-summ... [1] http://www.businessinsider.com/most-expensive-places-for-office-space-america-2011-9?op=1 http://www.businessinsider.com/most-expensive-places-for-off...

JacobAldridge 14y ago
I rounded some of the figures, so for the sake of accuracy: [1] They had 32 staff, and were planning to add 5-6 more and have the ability to add 10-12 more if they wanted [2] It was a fairly nice office - not gold plated, just really spacious (multiple meeting spaces, kitchen, showers, library etc) [3] The rent was closer to $850Kpa than $1M - again, rounding [4] They signed their lease in the middle of a commercial property drought Factor those in with your average sq ft per worker and I think it gets closer to $100/sq ft. I couldn't tell you the actual square footage - you may be right that they were paying above the odds; she (CEO was a woman) would argue that it was worth it for the location, the cultural elements of spacious working conditions, and the capacity for future growth. [Edit: I also changed the charge out rates and salaries, to de-identify the client and because they were beside the point of the story.]