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| 08/29/2002 Alternate Revenue Streams By Wendy Spreenberg, Site REsolutions Real Estate Consulting We are all looking for alternative revenue streams in our current slowed economy. At the same time, some of us may feel that we have "been there, done that" in trying to uncover new opportunities. As some areas of the business have slowed, this is an appropriate time to retrench and build services in new directions. Let's examine some of the technology-driven alternatives. The cost of technology is being minimized all the time. Cell phones and PDA's are certainly more cost-effective devices than they were even two years ago. While we look upon some of these services as cutting-edge, in several office environments these are considered basic requirements. While our European colleagues have responded more rapidly to technology, the U.S. based tech-centers or business incubators of the late '90's created this expectation for U.S. users, thus passing the baton to the Office Business Center Industry. Data Centers As you build fiber networks within your center, you may wish to begin segmenting some square footage to small data centers. This would allow clients with their own networks to rent pre-cabled cabinets in your data center on a limited-access basis. You may even sell the capabilities of your own Technical Support Team to be the network maintenance team for the clients. Data Centers can also be sold to other tenants within the building, netting advanced revenues per square foot. Network printers and copiers are also a part of the service provisions for the data centers and can be offered on a flat fee per person per month. Printers and copiers can be set up to hold the documents in memory for a set amount of time until the user enters in their PIN. The client has access to a high-end printer or color copier at a very economical price to their business. Web Hosting Are you prepared to be your client's ISP and Web Hosting service? A natural outgrowth of the technology offering and Data Center configuration, Web Hosting helps to build a long-term relationship long after the client has outgrown the center. Clients have an aversion to moving their office every year, they also have an aversion to changing ISP vendors and Web Hosting services unless there is a compelling reason to do so. It is critical to put the support backbone in place including the human technician, the electronic technology, and the vendor you in turn choose to support this venture. Intra/Extranet Services Go online with your center newsletters distributed over the company intranet. Tout the accomplishments of your clients' feature two clients in each newsletter. Allow your clients to subscribe or unsubscribe to the newsletter, but include a copy in the new client welcome packet and automatically send the first newsletter. Create links to client's web sites for which your client's pay a monthly fee. Incorporating on-line billing is another advantage through the established intranet and can create a more efficient billing process. Clients can review not just the monthly invoice, but should be able to review the details of their monthly phone service – if you have your own PBX and call accounting system. Billing questions can be more easily resolved. Accepting payment online is a natural outgrowth of intranet capabilities as well. At times, responding to technology demands is a necessary evil for those of us in the service industry. It takes time and investment, and will keep your center humming during soft real estate markets. Additional areas to explore: |