It’s the end of March Madness and as usual I finished in the bottom half of the pool. However, out of my loss usually comes one or two feel good stories of a Cinderella team that overcomes all odds to move farther along than anyone anticipated.
In the business world, we have those same Cinderella companies. They start out as a few people with an idea and grow into the next household name. They compete against the larger companies, hire away talent, gain momentum and take market share as they grow.
There’s an excitement that comes from following these companies and it’s always an interesting ride when we have the opportunity to assist them with their real estate. Their needs are constantly evolving from an early stage company, often with limited capital, to a high growth revenue machine. In the beginning these companies are looking for short term commitments to ensure flexibility and limit out-of-pocket capital. As they evolve, accommodating growth becomes a driver and often there’s a change of use from R&D to larger scale manufacturing (or this is outsourced).
And like the NCAA tournament, it doesn’t always last forever. There are leadership changes, funding runs dry, clinical trials may falter, technology is sold, etc. It can sometimes be madness working with these groups, but I wouldn’t miss the chance to be a part of the ride.