What fails 70% of the time, yet people continue to do?

What fails 70% of the time, yet people continue to do?

What fails 70% of the time, yet people continue to do?

Start-ups.

7/10 Do not last five years.

An Economy Built on Failing Forward

While we do not need 70% to fail, we do need the constant creation of start-ups who strive to be the next Amazon.

Businesses created to chase that exponentially small chance employ the majority of Americans.

We already have monoliths like Amazon, Microsoft, or Apple. We do not need a copycat but, the process that created them is essential to the American economy.

Windows for Microsoft, online retail for Amazon, and the Macintosh for Apple. One right decision began the path leading to now.

Based on the definition of start-ups being a company less than five years old, the majority of Americans work for a start-up business. Some likely work for the next multi-billion dollar company but do not realize it.

Start-Up Business

"In Business, to be a success, you only have to be right once."

 - Mark Cuban

Some Will Hit it Big

Toss a dice enough; you will roll double 6's a dozen times in a row. In 2017, America saw an additional 150,000 people reported being self-employed by new start-ups. That is 150,000 new businesses in America every single year. Even taking the worst failure projection with 70% of those companies folding, that is still 45,000 companies sticking around.

With 45,000 new opportunities, the odds of the next Amazon or Apple being founded are quite likely better than your odds of winning the Powerball. Amazon crossed the 100 billion dollar value marker in 2011. We are inclined to believe that in the last six years, one of those 250,000 businesses created that will make it past their start-up phase and hit it big.

Start-Up Journey

The Law of Probability states that if you play out a scenario enough times, even marginal outcomes are realized.

The start-up process boils down to:

Start-Up

Constant regrowth is vital. It is what fuels the constant cycle of:

Start-Up, Growth & Hiring, and Stabilization or Folding

Three out of ten businesses end up stabilizing and continuing the growth pattern. To this day, new companies have continued to rise to take the placed of folded ones. Those new start-ups replacing the previous generation are the key to a healthy economy.

We Need Businesses That Want to be Amazon

The success a start-up achieves compared to Amazon is not relevant to the reason we need them.

We need people to chase that dream. Entrepreneurs who want to be the next Jeff Bezos are fueling the American economic engine.

The process that creates the next Amazon is far more essential to the economy than the company itself. A rising ride raises all ships. We can live without Alexa. We cannot live without start-ups, they are the future.

City Spotlight – Federal Way

Prosperity in Western King County

Greater Seattle City Spotlight - Federal Way, Washingotn

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Federal Way has a little bit of everything that makes southern King County excellent. A thriving commercial district, accesible location for businesses, and a quirky history.

Located on the western border of Auburn. The events around the discovery of the are both odd and amusing. Captain George Vancouver landed his exploration party in what was originally thought of as Federal Way.

There was one slight problem with that;

Captain Vancouver never actually landed in what is now Federal Way. Based on his observations of being able to see Mt. Rainier from where he came ashore, he just couldn't have landed on any beach within the city limits.  It is impossible, the mountain was not visible from any of the waterfront in that era. 

He more than likely was on Vashon Island or potentially Mercer Island if his navigator got them particularly lost. 

However, that did not stop future parties of explorers and settlers from following what they thought was the same route. Ultimately, coming ashore in what we consider Federal Way today. Makes you grateful for your phone's GPS right? 

From 1800 onward, the area has consistently populated.  Economic prosperity also increased, particularly in the early 1900's, when the Puget Sound Electric Railway began operation.   Simultaneously the Weyerhaeuser Timber Company purchased over 800,000 acres of land in Washington.

Since then, Federal Way has continued to flourish while maintaining the balance of commercial and residential viability that continues to draw new businesses and families to the area.

Access to Everything, Without Breaking Your Wallet.

Featuring housing that ranges from waterfront villas to affordable commuter apartments, people of all backgrounds call Federal Way home.

The combination of easy access to Seattle, Tacoma, Sea-Tac International Airport, and various local ports makes Federal Way an ideal destination for businesses and residents alike.

Federal Way has also been chosen to receive a Lightrail station as part of Sound Transits SB2 project. This will give commuters yet another way to access Seattle & Tacoma.

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Attractive Business Climate

A business friendly atmosphere is incredibly important to continue the economic appeal and continue luring large companies there.

Federal Way has several of these corporations already, such as:

  • Xerox
  • World Vision
  • ACS

Additionally, with a population of nearly 100,000 the Federal Way School District employs over 2,000 local residents.  There is substantially job opportunity here for future residents.

Those organizations combined employ upwards of 5,000 local residents bringing not only economic stability to Federal Way but an influx of potential consumers for the businesses that support them and their employees.

Notable Locations

Federal Way is home to a unique set of attractions that appeal to tourists, families, and businesses:

Wild Waves is a well known regional Water Park that also plays host to some of the only rollercoasters in the area to operate outside of state fairs. Including, the Timberhawk Ride of Prey wooden coaster which is a loud, terrifying, and wholly worth experiencing ride. Consider that a personal recommendation. 

Fright Fest and Holiday With Lights also take place at Wild Waves during non-open seasons. 

The Pacific Bonsai Museum is a perfect destination to connect with the living art that is Bonsai. Opening in 1989 courtesy of the Weyerhaeuser company to symbolize their dedication to their community and forest resource sustainability, the Museum was gifted to a non-profit named after George Weyerhaeuser himself. 

The museum has over 150 different Bonsai trees from multiple continents. If you want to connect with nature and see the cultural boundaries art can bridge, The Pacific Bonsai Museum is an ideal destination.  

Located on the western tip of Federal Way straddling the line between King & Pierce Counties lies Dash Point State Park. 

With amenities such as: 

  • Miles of biking trails
  • Extensive walking paths
  • Ideal skim-boarding water levels during low tide
  • Varied bird populations
  • 398 acres of campgrounds

The park has something for everyone! 

Every major city needs a mall right? Federal Way is no exception with, The Commons at Federal Way. 

The astounding variety of businesses located in the mall is a major perk to those who live nearby or commuters looking to make one stop for everything. 

Highlight Businesses: 

  • Target
  • Gamestop 
  • Kohls
  • Sears
  • Macy's
  • Buffalo Wild Wings
  • Century Theaters

You can get all your grocery shopping done, buy some gifts, get a haircut, and catch a movie without leaving the building. There's no other mall in the area that can claim that convenience. 

City Spotlight – Auburn

City Spotlight – Auburn

Auburn Features Image

Centralized Location, Thriving Industry, and Heritage

Bordering Kent to the South, Auburn has many of the same qualities that make us love Kent!

While having a few key differences that make it stand out from its neighbors.

All while strengthening the economy of South King County as a whole.

Auburn Washington Downtown Association

Centralized Location

Similar to Kent, Auburn's centralized location gives businesses a strategic advantage. Being 30 minutes from Seattle, Tacoma, Bellevue, and most of Pierce County allows businesses to attract clients from all over the area. 

Auburn also offers a much more reasonable commute for employees than downtown Seattle or Tacoma with multiple highways in and around the city. 

Interstate 5, Highway 167, and Highway 18 are all easily accessible. No matter if you want more traffic for a business, easy routes for your product to be transported, or simply an easier commute Auburn has an ideal location! 

Growing Business Environment

Commercial attractions featuring Auto-Row and the Seattle Outlet Collection (Formerly The Supermall) make Auburn a consumer destination.

Auto-Row is home to over two dozen car dealers of all makes, models, and styles. The Seattle Outlet Collection has stores selling all sorts of retail goods.

With multiple railroads and highway proximity Auburn is home to a bustling and rapidly growing industrial sector. Auburn is also home to an expanding aerospace industry. Multiple startups are located within a few miles of Boeing's fabrication plant. 

Job growth is set to beat the estimated average across the United States over the next decade. 

Residential Diversity

Diversity

Auburn is home to a large amount of Slavic descendants. Combined with nearly 30% of residents speaking Spanish, make the community quite diverse.

The Muckleshoot Native American Tribe also calls the area home. An economic force in their own right, with one of the largest Casinos in the Pacific Northwest. 

Residents of all nationalities and variety of local industries mean a city of opportunity for people of all backgrounds. 

Expected Auburn Population Mid 2018:

+

Notable Locations

Boeing Auburn Fabrication Plant - With their close ties to the region, it should be no surprise that Boeing is the largest employer in the city. 

White River Amphitheater - Many major concert series and performers make a stop at White River which is one of the largest outdoor venues in Washington. 

Green River Community College - One of the largest schools in Washington state. Offers a variety of degree programs across many industries including some bachelors degree programs. 

Green River Community College - Salish Hall - Auburn Washington
Green River Community College

City Spotlight – Maple Valley

Maple Valley

City Spotlight

Small Child Holding Leaf

Head east on 272nd from Covington for a few minutes and you'll crest a hill to find yourself in the quiet suburban town of Maple Valley.

Home of rapid economic growth, award-winning schools, and suburban living at its finest.

Maple Valley is the perfect way to experience suburban life without compromising on essential amenities.

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Train - Maple Valley
Lumber Train - Trans Magizine
Nighttime Traffic

A Town Built Around Transportation

In the late 1870's "Vine Maple Valley", now known as Maple Valley was born. Named via drawing names from a hat, it was originally both a coal and lumber town. Though, due to complaints from the local post office, the Vine portion was dropped as it made record keeping difficult.

With a railroad running through the city, timber and coal workers relocated to the area and continued to do so consistently through the 1940's.

Surprisingly as Seattle moved away from coal and timber production, Maple Valley and surrounding communities continued to grow. Local coal mines were in operation as recently as 1947 when the city began to transition to a new phase of growth.

Once the mines ceased operation the town transitioned in a resort area. Trade shops, hotels, and various markets lined the dense downtown area.

In contrast to many cities around it, Maple Valley grew with increasing density instead of the typical urban sprawl.

During the mid 60's, construction began on Highway 18 which required Maple Valley to be reconfigured. Although an adjustment, the highway access proved to be a great success with an easy connection to Snoqualmie Pass, Auburn, and Interstate 5.

For over 120 years, Maple Valley has been defined by transportation infrastructure. Initially, by the railroad and then later by highways, the draw to Maple Valley remains consistent. Families appreciate the quiet suburban living, quality schools, and ideal commuter location.

Away From it all. Without Being Away From it all.

Family on Playground

Maple Valley provides an ideal location for residents who clamor for suburban living while retaining the conveniences of city living. With the recent construction of a Fred Meyer as well as multiple new shopping centers, residents can find all of the essentials for life without leaving town.

The construction of Highway 18 is the major pipeline into this area.  When automobiles became a staple of the American family in the 60’s, these type of bedroom communities flourished. Highway 18 provides access to downtown Seattle, Bellevue, Tacoma, or Snoqualmie Pass in less than an hour.

Unprecedented Growth

Numbers do not lie. 

Maple Valley's population in 1990:

Maple Valley's population in 2000:

In a single decade, there was a population increase of 1,073.3%. The state increase was just over 13% for the decade. The following decade saw another increase of over 55%. 

This population explosion is attracting all types of businesses.  Construction, Retail, Real Estate, Schools, and more have seen exponential growth in the last two decades.

Combined with a household income in the top fifth in the country, the city is an attractive home for any business that has their audience in suburban households. Currently, Maple Valley looks to be continuing their upward trend with home values up 20% year-over-year.

Seattle Community Events – February 2018

Seattle Community Events – February 2018

King County Community Events Calendar – February 2018

February is shaping up to be quite a busy month for community events in King County!

February 1st-4th:

  • Enumclaw Chocolate & Wine Festival
    • Sample fine wines and chocolates from local businesses and abroad!
    • Details: Friday 2/2 & Saturday 2/3 @ Enumclaw Expo Center. All day. 
  • Seattle Rock Orchestra performs Pink Floyd
    • Enjoy the Seattle Rock Orchestra performing some of Pink Floyd’s greatest hits in a way you’ve never heard before! 
    • Details: Saturday 2/3 @ Kentwood Performing Arts Center. 7:30 PM. 
  • Seattle Thunderbirds vs. Victoria Royals
    • Witness two of the highest scoring offenses in the WHL face-off! 
    • Details: Saturday 2/3 @ Showare Center. 7:05 PM. 

February 5th-11th:

  • Northwest Flower & Garden Show
    • Heralding the return of gardening weather, this festival is a celebration of all things gardening!
    • Details: Wednesday 2/7 through Sunday 2/11 @ The Washington State Convention Center. All day.
  • Seattle RV Show
    • If you enjoy the RV lifestyle or are considering a life on the road, this is the show for you!
    • Details: Thursday 2/8 through Sunday 2/11. All day.

February 12th-18th:

  • Lunar New Year Celebration
    • Seattle’s annual Lunar New Year celebration brings thousands of visitors to the international district every year. Enjoy performances and cuisine celebrating the Lunar New Year!
    • Details: Sunday 2/11 @ Seattle International District. All day. 
  • Everett Film Festival
    • If you consider yourself a fan of good cinema, the Everett Film Festival has features of all genres from all corners of the world!
    • Details: Friday 2/16 & Saturday 2/17 @ Everett Performing Arts Center. Showings throughout the day. 

February 19th-25th:

  • Wintergrass Music Festival
    • Just because it’s cold, doesn’t mean you can’t enjoy a bluegrass festival! 
    • Details: Thursday 2/22 through Sunday 2/25 @ Hyatt Regency in Bellevue. Concerts through all days. 
  • Seattle Asian American Film Festival
    • This festival combines films produced in Asian countries as well as domestic films featuring topics and casts relevant to Asian-Americans! 
    • Details: Thursday 2/22 through Sunday 2/25 @ Broadway Performance Hall. Showings throughout all days.

4 Must-Have Gadgets for an Efficient Office in 2018

4 Must-Have Gadgets for an Efficient Office in 2018

Every January, the titans Tech get together and announce the new 2018 gadgets. Here are some that are useful for your Office Suite. 

New technology in your office can lead to new efficient ways to do business, optimize tasks, and save money. 

Here are some of our favorites from CES 2017:

Canary View – Indoor Security Camera:

Quality security cameras for an office are often prohibitively expensive. Especially once storage is factored in. 

With the View, $100 Camera. $100 a year for cloud storage. Buy it, set it up on your wifi, and you are live.

It even has machine learning to filter out daily movement so you receive less false alarms. 

Check out the Canary View Here

Multiple Companies – Wireless Charging Mouse Pads & Mice:

Few feelings are worse than getting through an important email or document, going to hit send, and your mouse isn’t moving. 

With new mice and wireless charging pads from Razer and Corsair, these moments will be a thing of the past. The mouse pad is plugged into a USB port and the mouse charges simply by resting on the pad. 

This will really be the most helpful tool to those who spend countless hours on their computers. The expense can start at $250 but when the computer is your business, this is a necessary expense.

Read more on the Razer HyperFlux & Firefly here. 

RavPower – File Hub Plus:

The File Hub Plus is a problem solver that happens to be smaller than a new iPhone. 

Here’s what the File Hub Plus can do:

  • Backup pictures, videos, and files from iOS and Android devices
  • Transfer Files between connected storage devices
  • Function as a wireless travel router
  • Stream media from connected smartphones, tablets, and laptops to other streaming devices
  • SD card reader
  • Charge any device that support USB power with a 6000mAH battery

Thing little black box solves so many potential office issues. 

Router giving you fits? Plug this into the modem to bypass it. 

Client not able to stream from their laptop to your TV? Plug this into their laptop and you are in business. 

Conference room too far away from your network hub to get a good signal? Plug this in at the halfway point and set it to bridge mode. 

The only thing it cannot do it charge a laptop. Except, they have a different model that will do that too! 

Pick one up here! 

Ecobee: Ecobee3 Lite:

Finding ways to be financially savvy is something we pride ourselves on here at Plemmons Industries. 

Which is why we love the Ecobee line of smart thermostats. They hardware onto your existing office heating and cooling panel and allow you to control the temperature from anywhere with their phone app! 

Forget to turn the heat off before leaving the office for a few days? The thermostat will detect that and notify you if the heat or AC are on during unexpected hours. 

Plus, if you’re one of the many who already have or received a smart speaker like an Amazon Echo over the holidays, you can control your temperature with your voice. 

Check out the Ecobee 3 Lite here!

Varidesk – Adjustable Desk:

While on your gadget spree, consider doing something for your personal health. 

Varidesk produces an array of workstations with adjustable heights and configurations. Everything from standing laptop desks to dual monitor editing stations can easily be achieved. 

Standing desks allow you to burn 10% more calories compared to a traditional seated desk. 

If you decide to try an adjustable standing desk make sure to give yourself some ramp up time. Don’t go from sitting an entire day to standing an entire day the first day. 

Save Money on Commercial Space with These 10 Helpful Tips

Save Money on Commercial Space with These 10 Helpful Tips

For every successful business, there comes a point where you outgrow the kitchen table or garage.

Getting a bigger space becomes essential for growth.

Growth
Source: Abbi Waxman

The question is, how do you find a perfect space for your business to thrive?

  1. Know your budget. Do not go over your budget.
    • Get a space that will allow you to continue growing. Be economically minded when space shopping.
  2. Know your businesses needs.
    • Different businesses will prioritize different factors. Trucking and distribution will have a different priority set compared to an IT company.
  3. Leave wiggle room in your operating budget.
    • Know the issues that may arise for your unique business.
    • Keep a rainy day fund for vital equipment replacement.
  4. Know your personal AND business credit score.
    • Especially vital for newer businesses.
    • In lieu of business history, a personal guarantee can sometimes gain lease approval.
  5. Do NOT sign a lease that does not make sense for your business.
    • Consider the needs of your business a timeline. Why sign a 54 month lease when you may need more space in 36 on your current growth rate?
  6. Read. Your. Lease.
    • This contract is going to be a vital piece of your business going forward. Know it inside and out.
    • Ask questions! Never leave anything to an implicit meaning, ask for explicit clarification.
    • Negotiate! Until you sign, many things are up for negotiation or discussion. The worst the leasing firm can do is say no.
  7. Calculate your moving and logistics costs.
    • Moving trucks, personnel, tech installation, etc. all come into play here.
    • Consider moving mid-month to minimize downtime once paying rent.
  8. Secure all items of value.
    • Don’t leave tools, electronics, and other valuable items visible from the outside. Especially do not leave them in any company vehicles.
  9. Know your subletting rules.
    • Subletting from another business is a great way to get the space you need without paying the full market rate.
    • It can also make you some good money if you have space to spare.
    • Check with your leasing company to make sure you are permitted to do so in your lease.
  10. Have questions? Ask them!
    • The last thing a property manager wants is an unsure or uninformed tenant.
How to Get the Best Bang for Your Buck When Renting Commercial Real Estate

How to Get the Best Bang for Your Buck When Renting Commercial Real Estate

Winter is Here.

Winter

When it comes to renting Commercial Real Estate, it’s safe to say we know a thing or two.

2018 is nearly upon us, that means we are in the middle of prime moving season. For commercial and residential alike.

Moving during winter is advantageous from a financial and customer service viewpoint. On top of getting more personal attention from leasing agents, you can also find yourself in the position to get some good deals.

That is, as long as you are ready to pull the trigger.

How to save a few bucks when renting

As with most negotiations, if you play your cards right you can save a substantial amount of money renting real estate.

Here are some professional tips:

  • Know your number – Arrive to a showing appointment knowing how much you can spend on a space. Never start negotiations without a number in your mind.
  • Know your agent/landlord – You want to work with someone who has been a part of the team for a long time. Those are the ones that can give you a deal since they know their way around the business. If you get the vibe that you need someone more experienced, there is no shame in asking for exactly that.
  • Referrals – Tell them how you found them. Most companies will have some sort of kickback to you and whomever got you interested in the space.
  • A penny saved is a penny earned – Do not underestimate small savings. Fifty bucks here, seventy-five there, it all adds up. For example:
    • Application Fee: $50 If you seem like a serious client, most companies will consider waiving this.
    • Free Week: Offer to move in around the 20th. You may find them willing to allow you to start moving in but start paying in the new month. Potential to be moved in and operational before you are paying rent. This can be hundreds if not thousands of dollars saved.
    • Ask if there are any “B-Level” units: Maybe there are more puddles in that part of the parking lot, the view is of a railroad or neighboring building, the electrical room is nearby, etc. If you are willing to compromise on small things, they may have a space that is otherwise identical for significantly cheaper. This could be result in thousands of dollars saved a year.
  • Know the company – Coming across as knowledgeable about the company you are negotiating with can go a long ways. It shows you are dedicated to getting a space if you put the time in researching.
  • Make. An. Appointment. – This is less a stickler for us than other companies. Regardless, to ensure you get the best experience from the most capable leasing agent, make an appointment. Also, it is the polite thing to do.

Finally, if the price is right and the unit works for your business needs. Be ready to negotiate. Remember, while a company may own the space, you are negotiating with a person. They likely have a number too and 80% of something is better than 100% of nothing when a unit is vacant for another month.

Plemmons Pro Tip: That works at hotels too. Past the usual check in times you can usually find a manager that will rent vacant rooms for a discounted rate rather than letting them by empty for the night.

Don’t say Plemmons Industries never did nothing for ya!

Jamming in the Workplace – Office Music

Jamming in the Workplace – Office Music

Office Music Helps Productivity, Creativity, and Atmosphere

Music helps you work. This is not a new concept.

Working with music dates back to the earliest days of recorded history.

Studies over the last century have shown music to be especially beneficial in an office environment.

EQWe added music to our offices. Why?Atmosphere. 

It does wonders for employees as well as clients.

Have you ever walked into a building and the only noise you can hear is the gentle whirl of the HVAC system? It is… unsettling to say the least.

Music to break the silence keeps the feelings warm and personable. Jamming in the office helps employees break up the monotony of their days.

Does your office have music? Or is the soundtrack to your day a co-worker typing away?

Merry Christmas From the Plemmons Family!

It’s that time of year. Drinking eggnog is socially acceptable!

Oh! And it’s Christmas! 

Christmas Tree

Or shortly after and we’re not back yet! Either way.

Christmas and holidays in general mean a ton to us here at Plemmons. Just look at our office. 

Christmas Tree
Seriously, we have a tree in Jim’s office.

To us, it’s a time for joy. To spend time with our families and remember how lucky we are.

“I will honor Christmas in my heart, and try to keep it all the year.” – Charles Dickens

Merry Christmas!

From all of us here in the Plemmons Industries family!