It’s the best piece of advice you’ll hear when starting a business: know what your target customers need. This can’t be more appropriate in the co-working space industry, wherein membership depends on whether or not people find satisfaction in the actual space they’re working at and the very community they belong to. Freelancers and start-ups alike are willing to pay a high price on an excellent co-working space. However, what exactly is a “good” space? If you want to attract the best possible members of your locale, you should be able to provide these things:
People have unique work styles. This doesn’t just mean that productivity varies from one person to another. Work styles differ as well on the particular job one is working on. Sometimes, people want to be left alone doing their thing. Other times, they need to collaborate with their peers. This is the very thing that the co-working space industry addresses in today’s workforce. Thus, it’s important to stay true to the core of the business: providing flexible work areas for different types of professionals.
When planning your space, you should have zones, essentials like community tables, individual cubicles, small pods, and standing desks. There should be rooms for a quick team huddle, formal meetings with clients, and even phone calls. It’s overwhelming to get everything laid out ergonomically in a big chunk of space, so you might want to consider getting a franchise, which already has a layout proven effective. Aside from the functional space arrangement, you can count on a good business model beneficial to starting a co-working space business.
The atmosphere in your space can singlehandedly attract or drive away people. That’s why it’s essential to create a welcoming vibe in your area. The goal is to let people feel that they belong. One of the best ways you can foster the warm community spirit is creating accountability groups, even with just the initial members or those who are just exploring the possibility of becoming a member. Assign each person to a team and encourage them to regularly meet and talk about what they’re working on individually. What you want is for them to be empowered in sharing their joys and struggles in their careers. The emotional support that people are getting from each other will eventually be a compelling factor in their final decision to become a member of your community.
Every professional wants to grow further in their career or expand their business. Thus, give those opportunities for learning and networking in your own space. Host events. Organize seminars or get-togethers. Invite speakers from different industries so that people can learn a thing or two about other fields they want to explore. As your events make noise in your locale, professionals won’t be able to resist checking you out. With that in mind, add value to people’s careers. Give them opportunities to grow.
Remember that the key to a successful business is to learn what your customers want. Offer that, and you can expect a growing, thriving entrepreneurial activity.