GREAT 60 IDEA: Buy Used Office Furnishings

When I was an investigative reporter at the Los Angeles Times, my beat was white-collar crime. I had the best job in the world. I was paid to track down the slickest, sleaziest business criminals in the country as they defrauded investors out of millions with precious metals scams, stock frauds, and real estate schemes.

They had two passions: stealing money and working in glitzy offices. To impress prospective victims of their schemes, they usually rented the top floor of a modern office building with a spectacular city or ocean view.

My favorite con man had a reception area the size of a small apartment, with plush gray carpeting and stained glass panels. His perfectly coiffed secretary sat behind a massive cherry wood desk. His private office was about 2,000 square feet and featured a panoramic view of the Pacific Ocean. Of course, visitors were convinced he was a legitimate commodities dealer—only a successful businessman would have such a fabulous office!

So he's the reason why I equate fancy offices with criminal behavior. There is no reason to buy new stuff with so many bargains out there. Unfortunately, you can take advantage of the furniture abandoned by hundreds of thousands of companies that closed during the Great Recession.

If you run an advertising or modeling agency, you might need to present a super groovy image, but in my opinion, the funkier the office, the smarter the business owner.

Think of all the money you'll save every year by renting office space in a building a bit off the beaten track or in a less-than-desirable area—as long as it's safe for you and your employees.

One last tip: Before you spend a dime on furniture, buy some graph paper and draw up a simple floor plan. Take inventory of everything you have and make a detailed list of what you borrow or buy.

When you know what you need, find the nearest used-office-furniture company or shop online. Be sure to look for bargains in the local classified ads.

Buying tips from Steelcase, a Grand Rapids, Michigan–based firm:

• Define your furniture requirements by what your employees need to work effectively rather than by the features of a particular furniture line.
• Ask these questions: What kind of furniture do we need? Tables for meetings? Acoustical panels for privacy?
• Inventory all the furniture you have to avoid buying things you don't need.
• Buy furniture for its functionality.
• Consider leasing or renting furniture. This will increase your flexibility as your company grows or shrinks.