Hot Desks vs Dedicated Desks: Which is Best to Offer?

Some will say hot desk is better than dedicated desks while others claim dedicated desks are way better. Well, there is no better superior option since each type of membership has its advantages and disadvantages. Let’s take a look and you can decide based on what is best for your space. 

Hot Desks

Hot desks are seating areas shared communally amongst a group of members. It is your on-demand workspace where coworkers would simply choose any open seat in your location to begin their work. Hot desks are ideal for freelancers, remote workers, small business owners, or business travelers in need of inspiring and vibrant spaces. This is perfect for those who need flexible and 24/7 coworking space access. 

Advantages

Hot desks grant freedom to coworkers to choose where, when, and how they want to work within the space. They can choose to sit at a quieter place if they need concentration or for other days to sit around and chat with coworkers. This is offered to both full-time and part-time memberships. Through this kind of set-up, it increases the level of communication and collaboration among coworkers. It can lead to valuable conversations from different backgrounds and industries. 

This can be recommended to a larger team in your coworking space for project-based collaboration. Also, this is at a cheaper cost for the members since they do not have their dedicated spot and are sharing the cost of the space with fellow hot-desking members.

Disadvantages

However, there are also drawbacks to hot desking. The recurring monthly revenue will be harder to predict since it varies from time to time. It is also difficult to foresee and accommodate coworkers during peak hours. Since members come and go, it will be a challenge to create a consistent community.

Dedicated Desks

Dedicated Desks are desk rented out to one specific individual. It is like giving a coworker a business home with a desk that is specifically reserved for them. Dedicated desks are for anyone who needed a reserved, permanent space where they can keep their belongings and return to every day. It is specifically equipped with a chair, trash can, and lockable filing cabinet and other important stuff to make the member at home. 

Advantages

Dedicated desks are charged at a higher cost when compared to hot desks. This kind of membership enables to have anchors for your community since you will have consistent members who can grasp the vision and mission of your coworking space. As a space owner, you can offer your members additional security of their belongings to make them feel comfortable and relaxed. Offer your members a long term contract for you to have a more reliable recurring revenue plan.

Disadvantages

There are also a few disadvantages with dedicated desks. This would require a more upfront commitment from your prospective members making them hard to get this type of membership. There might be fewer drop-ins and visitors to be part of the community. Also, it can be an additional expense since it requires additional security for storing items and allowing 24/7 access.

Why Not Choose Both?

Why choose one when you can have both this type of memberships in your coworking space. Most coworking spaces adapt the mix of hot desks and dedicated desks since they can work together to maximize the benefits of both memberships. Visit the site if WeWork where they have a mix of shared-workspaces in their coworking space. Offering both ensures you to attract a mix of members that can keep your community dynamic and your members engaged. In terms of revenue, it allows you to optimize your growth efforts from event rentals, drop-in visitors, and shorter-term memberships. When you have a mix of dedicated and hot desks, your community benefits the best of both and you can even experiment if which works the best in your specific location. 

Final Words

There are different needs of the members and the demand to compete with the rising coworking industry is also high. From the selection above, what fits you and your space best? The choice will be yours. In some areas, the combined approach might be a great idea. But for some, it might take to choose from either of it. Check our blog on The Different Membership Plans you can offer to your members to widen your choices. 

 

The Common Mistakes Coworking Spaces Make that Causes Members to Quit

Coworking spaces are for startups and entrepreneurs. There are varieties of ways that space owners make to maintain the memberships of their members. However, there are some inevitable cases that members would quit at the coworking space. Losing members might be fine for some coworking spaces that are growing steadily since there’s always an influx of members. Yet, it will be bad for a starting coworking space or still gaining a good reputation in the community. It may be inevitable, but some situations can be avoided to happen to reduce the number of members from quitting. In this article, we will be sharing common mistakes that coworking spaces make that causes members to quit.

Space owners have their preferences on how to arrange and design their coworking spaces. But, the first thing to know, your members are not you. They might not like what you like. A coworking space has a base set of needs that should satisfy the members: productivity, comfort, professional and social connectivity, inspiration, and flexibility. Every single amenity that you provide must cater to one of these needs or else it should not exist. The fundamental issue here would be a misallocation of resources. Members would take notice if the resources are not well allocated to their needs. Some will talk to you about this and others will not, but instead, they will share it among others. Imagine how fast the word-of-mouth goes? Listed below are the common mistakes coworking spaces would make:

Productivity vs Comfort

These two go hand in hand as the most important factors in a coworking space. You can host a lot of events, quality working desks, a highly secured entrance, but if members cannot work comfortably, none of it would matter. Common amenities that reinforce these include fast and reliable internet, soundproof phone booths, conference rooms, private offices, and comfortable furniture. Many spaces would claim that they do well on these, but members would experience the slow internet connection, non-soundproof booths, or only one conference room. Coworking spaces should not invest cheaply on this specific area since these are essentials to the needs of the members. If their needs are not met by the basic amenities, then they would quit without second thoughts. There should be a proper balance to apply in both productivity and comfort. Preferences of the members must be catered well instead of personal preference.

Less Social Connectivity

If the main focus is only productivity, then it would lose the community factor that many members are looking for in a coworking space. This community factor is the social connections members make from regular interactions as well as new business opportunities that they can’t find elsewhere. Common amenities that reinforce these include, quality community member events, planned introductions, detailed and constantly updated member database, and a community manager. Social connectivity is one of the needs that is commonly forgotten or have invested a little only since it requires physical and emotional labor. One way to gain an asset over this is to hire an experienced community manager who gets stuff done and loves people. 

Lack of Inspiration

Inspiration has to do with your space design, the events you produce, and the stories you tell that inspires your members to stay long term. Most space owners lack the connections to pull off these things. Regarding the physical aspect of the space, they often value in maximizing the revenue by ditching lounges and nooks for more “productive” areas, which makes the space less appealing for inspiration to work. Space owners must invest in building relationships early and also with the key thought leaders before building the space. In this way, you will not find a hard time to leverage these relationships for some events and cross-promotion.

Improper Balance of Flexibility

A coworking space is designed to be flexible. Though, it doesn’t mean that you can’t have rules. Most spaces are either too loose like they have no rules or they have but they don’t reinforce it. On the other hand, they might be too strict, such as not allowing easy access to non-members or asking for deposits on flexible space membership. Keep open space memberships on a month to month basis with a monthly cancellation date and no deposit. Allow your members to have guests as long as they are not causing any issues. Through this, it increases conversion from tours and retention of members.

Final Thoughts

Members come and go and some would stay for long. The goal is to build strong relationships with your members whom you can collaborate in promoting your space. One way to maintain your members is to properly allocate the usage of your amenities and resources since these are the things members look into as they tour inside a coworking space. Nobody would want to lose a member. That is why, if there are cases that can be improved then better act on it. How does this article help you? If you have any insights related to the topic, feel free to comment it below. 

 

How to Build Rapport with your Coworking Space Members

Coworking is about people, and if you run a coworking space, your top priority is on how to attract and maintain members in your coworking space. Since this has become one of the most common challenges as the coworking business continues to increase. Though coworking has become a trend nowadays, many space owners still struggle with finding effective ways to attract new clients and maintain members as well. There may be various solutions that you can find from different sources and people, however, it is important to remember to put purpose in the core of your strategy. According to Harvard Business Review, a compelling purpose clarifies what a company stands for, provides an impetus for action, and is aspirational. Purpose helps your coworking staff team understand the whys and get on board with the new direction. 

If you want to build positive vibes in your coworking space, it is vital that the members from different companies will interact with one another. Since coworking is about people, the primary way to maintain your members is to create a culture of community rather than on focusing alone in physical structure. It is the responsibility of the space owner or the manager to create this culture by building a rapport with, and between, its members. 

What is Rapport?

Rapport forms the basis meaningful, close and harmonious relationships between people. It is the sense of connection you get when you meet someone you like and trust, and whose point of view you understand. In an organization setting, rapport isn’t just a tool for building relationships; it is also often the foundation of success. 

Benefits of Building Rapport with Space Members

Sales

  • Because members are naturally attracted to pleasant experiences, maintaining rapport with them can help boost sales. Space members who feel they have a solid relationship with the owner or to the whole staff may feel more comfortable expressing their needs and they will be more likely to renew membership and be more receptive to upselling. 

Internal Relationships

  • When space members feel they have a comfortable relationship with the staff, they tend to be happier in the workplace. Good rapport with space members can translate into higher member satisfaction which can create a positive customer experience. A good and positive experience will most likely result in productivity and teamwork with colleagues and other members as well.

Ways on how to Build Rapport with Space Members

Relate on a human level

  • One way to build rapport with your members is to build meaningful relationships by being human and avoid the trap of over-professionalism. Learn to empathize and listen to your members’ needs, even if it requires postponing another task or responsibility for a moment.

Communicate your values

  • Let your members know is important to you and they will also do the same. Communicating with your members doesn’t necessarily have to be in a formal setting, but it can happen over small talks while photocopying papers or over a coffee machine. Feel free to be yourself and share your interests with your members. You will never know how you might be able to relate to them. 

Know what they need

  • In order to know what they need is by asking them. Don’t assume that it will be the same for everyone. Every member has a distinct need, and find the common ground where your team can possibly take action to address their pressing needs. 

Connect members with each other

  • As the space owner or manager, it is one of your responsibility to connect members with each other as a form of hospitality you offer to them. Through this, it will alleviate loneliness and connect with people they might be able to collaborate with.

Give people options and be honest

  • When you want to organize events, give people what they want and not what you think they might want. If you have some ideas already, present to them the options and show them that you value their ideas and insights. Also, be honest with what you can do and don’t make false promises if you know that you can’t cope with their requests. 

Create a welcoming environment

  • Design and layout can facilitate a rapport-building within workspaces. Having breakout areas where people can chat easily such as sofas or lounge areas where people can feel relaxed and open to sharing. 

Treat your members as colleagues

  • Don’t just lock yourself in the office or behind the reception desk all day. Building rapport entails conversation and that will not happen if you just stay behind the corners. It is helpful to see your members as an extension of your team, you can chat with them in breakout spaces and exchange ideas with them.

Final Words

There are many effective tips on how to build rapport in a workplace setting. But going back to purpose, leaders must constantly assess how purpose can guide their strategy. When a business has a strong purpose, the members are most likely to trust it and are motivated to interact with it. What are your other ways to build rapport with space members? Comment it here below. We would love to hear from you. Lastly, don’t forget to share this article with your fellow space owners.

How to Safely Provide 24/7 access to your Coworking Space

Coworking spaces are full of fellow freelancers, entrepreneurs, small business owners and independent professionals who would rather work around other people than by themselves. Letting a coworking space have a 24/7 access will be so nice since people would come and go as they please, however, 24/7 access is generally expensive to the members and even to the space owners. For some, this is an essential feature, while others debate if it is necessary, and if so, how to do it.

Securing your coworking space is essential to the safety of your members and also to the success of the business. Here are some of the best tips on how to do it:

Set up a Camera System

During business hours, you can expect more foot traffic in your coworking or shared space. It’s important to have a good camera system that covers up an open space, front and back doors, and any hallways leading to private offices. Cameras can be linked to your access system, so every time a door is opened, you can see what happens 10 seconds before that event to seconds after that.

Set up a Door Access Control System

Most spaces’ first line of action is to lock the front door for security purposes. But if you want to remain it unlock especially on business hours, it’s highly recommended to hire a receptionist to monitor the visitor and member stream. 

For enhanced security, you can require members to present a credential key, which is either a key card or mobile phone, to access the door and then they will be greeted by a receptionist. Through this, it allows you to track with software who comes into your space and at what time. You can connect your coworking space to KISI software. The KISI access control software allows you to control all of your locations from anywhere. This would entail for you to invest in radio-frequency identification (RFID) or Bluetooth on every door, including private offices, conference rooms, and front and back doors. The capital may be costly, but on the good side, you will never have to deal with locksmiths and changing locks when someone leaves.

Secure your Space after Normal Business Hours

Mostly, there are only a few members who have access to the coworking space 24/7. Even so, securing your space during these off-hours requires more consideration for the technology you will need. Systems will need to be put in place to offer complete visibility and control. After working hours, there should be only one primary “after-hours” door that authorized full-time members can access after hours. Using the access control system mentioned above, you can add your full-time members to who can access after hours. In that way, you will see who unlocks which doors and which times.

Final Words

If you’re operating a coworking space or planning to have one, security is of the utmost importance. If you don’t have cameras installed and you hand out physical keys to everyone, you will have no way to monitor who accesses your space, and when. To keep it at the minimum level, you should only offer a 24/7 membership level to those that you can control. If there is no proper access system in place, it might put you up to many risks. The benefit of offering 24/7 access is increased revenue, as well as local positioning and differentiation. If a neighboring coworking space doesn’t offer 24/7 access and yet you did, it doesn’t matter how creative the other space is, people with the need for full-day access will go to your coworking space. So, what do you think? What other security measures would you provide to ensure 24/7 access to your coworking space?

What is Expected of a Good Community Manager in a Coworking Space

Many coworking spaces thrive nowadays. The creative environment of coworking spaces invites freelancers, entrepreneurs, digital nomads, and small companies to kick start their business and dodge expensive rent agreements. However, coworking spaces have their own set of difficulties, specifically when it comes to management. There will always be a need for a community manager who will single-handedly maintain and grow space’s membership, reduce turnover, and even improve the lives of coworkers. 

In theory, community managers operate, regulate, and engage with the company’s online community to build and increase brand awareness and loyalty. They stand as relationship builders since they interact and engage with customers and key members within the community. 

In a coworking space, community managers do almost everything! They are responsible for building a sense of community, that ranges from making connections between members to running coworking events that foster relationships. They make sure the coffee is flowing, space is clean, manage or take care of countless other responsibilities.

Responsibilities of Community Manager

  • Welcome visitors and members
  • Maintain the cleanliness
  • Keeps everything in good working condition, from copier to Wifi
  • Schedule and plan events
  • Manages mailroom, delivery packages, lunch orders and more
  • Coordinate fun and social events
  • Billing

Looking at the responsibilities, a good community manager has an impact on the success of the coworking space. They build a healthy and engaging environment for the coworking space where members can work and socialize together. Whenever coworkers need assistance, they are the go-to people for a boost of energy. The members will feel assured and supported knowing that someone on the staff that they can approach and whose focus is on forming bonds and meaningful relationships. Community managers are often the unsung heroes that make or break a coworking space.

Qualities of a Good Coworking Space Community Managers

Helpful – You want to have a good reputation of having a helpful person in your staff who “did” this or ”that” for the members of the space. Being helpful and friendly will build a strong community in your coworking space. Having a helpful community manager invites potential members especially people want their needs to be met.

Accountable – A good community manager can be trusted in everything he or she does. As they handle responsibilities, they should be trusted with everything that is on their shoulders.

Events and Party Organizer – They should be well versed in organizing events such as seminars and workshops. A good balance of educational experiences and a fun and entertaining coworking events for community members socialize and network among themselves. 

Good Salesperson – Consistency in encouraging and inviting new members. Community managers will look for ways and new ideas to increase potential members of the space. At the same time, they know how to protect and maintain the existing members of the space.

Authentic – Lastly, a good community manager must be true to themselves so they can build deep and long-lasting relationships. Members would appreciate genuine gestures rather than doing it just for the sale of the role. 

Summary

It’s very important to have a community manager who helps to establish a flourishing and vibrant coworking space. If you are looking for a good community manager, skills and character are important to look at. The real key to the amazing success of your coworking space is community managers. They bring life to your growing coworking community. How do you describe your community manager?

 

What are the Best Coworking Membership Plans for your Members

Managing your coworking space is a serious business. Deskmag reported that around 1.7 million people will be working around the world. And on average, coworking spaces are now serving 150 or more members. Having diverse members in your coworking space seriously needs a proper management plan to meet their many different needs. One of the best things you and your team can do is to regularly monitor the needs of your members and prospective members as to the types of memberships and each membership tier includes.

Below, we’ve provided most of the common types of Coworking membership plans and why they’ll work well for your members.

Hot Desk

The hot desk gives members access to the coworking space but doesn’t have a particular spot on a given day, meaning those with this option change desk daily. This type features a first-come-first-served basis during regular days. This is ideal for freelancers, remote workers, and startups. You can set up the plan on a per day, per month or even hourly basis, giving the member maximum freedom. 

Dedicated Desk

The dedicated desk gives coworking professionals the chance to have their permanent desk in your coworking space. You are offering your members a quieter environment, which makes it easier to focus on more intensive projects while still working with like-minded people. This is beneficial for people who want more personal space and storage space. You can use a door access control system for the members who avail of this membership especially after their traditional office hours for security purposes.

Private Offices

This is perfect for members who need to occasionally host one-on-one client meetings or those who need to regularly work on projects that require quiet and concentration. Private offices may vary to serve a variety of needs among your members. Some are using it for regular group meetings, client meetings, or individual works. If you run out of the private office to rent, you can offer a group of dedicated desks, and give extra meeting room space-time as an incentive to them. 

Weekender or Hourly rate

Many coworking spaces offer hourly rates or those who need these timings, especially for those who are just in town for a short time or they only need a room occasionally. Hourly office spaces are the most flexible since the members are to pay only for the time they need it.

Virtual Office

If you have members who want to establish a professional image for their home-based business or need to establish a satellite office at an affordable price, then you may consider having this type of membership plan. These are for people who need an office address and a place to hold meetings, however, do not need a workspace. 

Final Thoughts

Coworking spaces are to offer a wide range of membership options that provides flexibility to appeal to everyone who might need it. It is important to provide many options as possible to your members and provide many benefits to your dedicated members. The competition may be fierce, but knowing what is the need of your members and addressing it properly will surely help you and your team provide the desired service. 

Open Office vs. Private Office Space: Which is Right for your Coworking Space?

Many business owners assume on what type of office plan that is best for their workers. In deciding to choose your coworking space design, it is important to consider more than just the cost and personal preferences. With the rise of shared office space nowadays, it is also surprising to find that private offices are far from extinct. Rather than choosing which is convenient for you, weigh the pros and cons of each based on your team’s needs. 

Open Office Space

An open office is a floor plan that makes use of large, open spaces and minimizes the use of small,  enclosed rooms such as private offices. Open offices generally promote improving collaboration since it eliminates barriers such as walls and doors that traditionally separates distinct functional areas.

Pros:

  • Free flow of interaction: The lack of walls or physical barriers in an open office space makes it easier for employers to interact with each other on a regular basis. This enhances the flow of information and teamwork among the staff members. Interactions here are more frequent and informal than in a closed environment. 
  • Teamwork: The increased collaboration in an open workspace can lead to business innovation advancement. Bringing people together can facilitate faster learning for new ones with others who are seat away from being able to help quickly.
  • Reduce cost: An open office layout can benefit the business economically by reducing the costs tied to construction, utilities, and office equipment. Having a single workspace may reduce electricity expenses because of the improved flow of air and light. The business can also save on equipment investment since this kind of space promotes the use of shared resources such as printers, copiers, and other office-related stuff. 

Cons: 

  • Distractions: The high level of everyday interaction that takes place in an open space may lead to noise and distractions that make it difficult for members to focus on their work and conduct business. Energy may be good but if people are required to focus on specific tasks, errors can creep into work because people get easily distracted. 
  • Personality issue: Another issue is personality issues among workers. Some people don’t perform well in large groups or they seek privacy when doing their work. 
  • Privacy: The lack of privacy is another potential problem, where computer screens are easily visible by those walking by and telephone conversations are likely to be overheard. Additionally, if there is a conflict between two people, the tension spreads more easily in an open floor plan, adding to the chaos and harming the company morale. 
  • Health: Open office layout also may facilitate the spread of a disease, so if one of the members come to work with a cold, it might affect the health of entire members.

Private Office Space

Private office space is an enclosed lockable office situated within a shared environment. The same with open office space, private office spaces provide startups and SMEs with a flexible workspace that can be rented by the hour or day. This type of coworking space allows a business to retain the same amenities as a corporate office setting, but without having to purchase or service the equipment. 

Pros:

  • Free Access: Private office spaces grant members access to basic office equipment such as printers, fax machines, projectors, cubicles, boardrooms, TVs, and water cooler. With access to free equipment, this leaves more room to expand your business or offer other employee perks that improve turnover rates. A private office allows the members to rent out separate office whenever they need it. If they need it for an hour or day, then they don’t need to sign up for a lease.
  • Privacy: Private office spaces offer privacy. Professionals do not have to worry about others eavesdropping on conversations with clients as they can simply close the door.
  • Personal Atmosphere: It also provides a distraction-free space especially if members are looking for a place of escape from distractions. With distractions decrease, professionals can concentrate on work at hand. In many cases, if they need to complete a lot of work, the private office has doors that can be closed to block out activities that interfere with work. 
  • Tidy Appearance: Private offices can be tidier and less regimented. Overcrowding and congestion are eliminated.

Cons:

  • Uneconomical: Private office denotes to small rooms where the office work is performed by a small group of persons or a single person. Thus, it encourages much wastage in the valuable space and as a result, it increases the cost of operation.
  • Costly Supervision: Private office leads to difficult supervision. The supervisor loses personal contact with the staff.
  • Poor natural lighting and ventilation: The flow of natural air and lighting is interrupted due to many walls and partitions. Therefore, artificial lighting and ventilation are provided for staff members. 
  • Poor communication: transmission of information and the free flow of work is hindered due to walls and partitions.

Which is Right for your Business?

Open offices and private offices each have their own pros and cons and depending on your business, one might be a better fit for you than the other. For instance, a collaborative team might perform well in an open space, while individual workers such as managers are better off in cubicles with more privacy.

Focus on the nature of your business. What will suit the types of members you have and the tasks they are required to complete. Understand it first and carefully plans the office space selection, design, and construction. Consider the work of your members and their needs. Does the nature of their work requires frequent calls with clients or are the employees often engaged in group projects necessitating regular communication? One of the best ways to come up with solutions for the best office space plan is to ask the employees about their preferences. This does not only help you make a decision that will increase productivity but also gives the employees a sense of autonomy and pride.

Open Office vs Private Office Spaces

By removing physical walls that divide the workspace into cubicles and private offices, companies have thought of an open space layout to increase communication and foster an environment of collaboration in the office. Here are some examples of specific industries that benefit in using open office space layout:

  • Graphic Design and Visual Arts: Visual Arts projects tend to feature a healthy mix of individual effort and teamwork. Because these projects need a lot of feedback sessions and a quick burst of collaboration, thus the removal of cubicle walls can create a connected environment that suits creative work.
  • Content Marketing, Media, and News: Open office space layout is effective for the visual fields which are convenient for newsrooms, content offices and other businesses where words are the primary product.
  • Software Development: Many software companies are built around the idea of small, fluid teams and an environment that is well-suited to the advantage of the open space.
  • Contact Centers: Many organizations have moved away from the cubicle-based call center to a modern contact center model.

An open space layout fosters a feeling of freedom, giving the employees access to the tools they need for the work. However, there are studies also that is strongly against to open office plans stating that they’re actually a hindrance to collaboration and teamwork. The research was found that conversations via email and instant messaging have increased significantly after the open office redesign. It has been observed that 72 percent of participants spent less time interacting in person in the open space. Interestingly, the results showed that people are taking their interactions online as soon as physical boundaries disappeared.

With alternatives to modernize the office into an open space layout, there’s a growing backlash to the open-plan office to bring back private offices. The benefits of giving people the option to work privately has given them a benefit to have control over their productivity. Private offices work best to professionals who want a place to work comfortably, these can be to startup business owners, managers, or professionals who regularly want to help private meetings or conduct client meetings. 

Final Thoughts

Everybody has their own rhythm. People come at different times, need to socialize at different times, and have their most productive hours at different times. There is no universal answer on which type of office space to use. When choosing between an open office, private office, and combination office layout, assess which design would best suit your industry, employee preferences, and job functions. The role of the management is to accommodate the differences and create a space where all conflicting needs will not lead to distraction. Hope this article has given you a better understanding of private offices and an open office space. 

 

 

Key Benefits of Honesty in Marketing your Coworking Space

When you think of marketing practice, honesty probably isn’t the first thing that comes into mind. As we talk about marketing, we become excited if it shares about effective strategies and tips that can help the business gain profit and customers. However, honesty in marketing? Being honest about your business’ strengths is the easy part. What can be difficult is acknowledging your shortcomings and weakness. Even though it is hard but you can still display transparency in your business about what you are and what you aren’t. At the end of it all, without honesty, there can be no trust. Here are the key benefits of the importance of honesty in marketing.

It builds a good reputation in your industry and in your community as well

One of the best ways to market your space is not overtly trying to sell it to people. Because in doing so, it can be tempting to fudge the details a bit especially when you’re just starting out. In marketing, it generally engages to audiences because it considers what a customer wants from a business, rather than forcing to customers what the business wants to say. 

One example is advertising it to the public, “We have Super-fast Wifi”. If you have, then it’s good. But if your wifi is nothing to shout about, then maybe you want to take a look at upgrading it so that you can confidently market this. It will be better to let your prospects know your download and upload speed on your website. Rather than failing their expectations. A reputation for honesty is a kind of thing that can have a real ripple effect. 

It builds a sense of trust

Like any good relationship, trust is very important in this exchange. If the members trust you, they are confident that you can deliver what they’re looking for. Being honest with your potential members can be scary, but if you are able to overcome that hurdle, then it can be rewarding. 

An example of tampering honesty is telling people that you have partnered with a well-known partner such as local government official since the two of you once did an event together. Unfortunately, that’s not really true but it’s just an exaggeration. This can tamper your reputation when members ultimately find the truth. The better way to do this is to secure real partners by doing difficult work. They don’t have to be big as long as they are real partners who will talk about you to other people, which further expands your business. 

It attracts ideal members to your space

Since your business has built a sense of trust around its members, potential members as well can definitely trust what your space offers to them. Acknowledging your faults makes customers trust the legitimacy of your strengths. And once they find out the areas of your strengths, they will definitely choose your service. Positive word-of-mouth from a satisfied customer is more effective in influencing a customer. 

Your coworking space will stand out

You don’t only build a good reputation, but you will also stand out from the rest. Honesty in marketing is difficult, and when people acknowledge the transparency you have shown to them, then they will definitely trust you. Showing honesty here is also exemplifying what you say. Being honest will separate your business from the pack in a manner customers find endearing. Here’s to more tips on how to make your coworking space stand out.

Lastly, it improves your mental health

When you are determined, to be honest, you’ll find that you experience a great sense of relief. There’s no need to cover up lies, whether they are big or small, and you can be relaxed to yourself as the owner of the space. Your confidence in what you say will shine to the coworking community around you which has a positive impact on them. 

Conclusion

Whether your space is brand new, or you’ve been around for a long time, being 100% real and authentic will help bring the right people to your coworking space and ensure you will meet your members’ expectations. When you let go of the need to bend the truth, you let around you see its positive effect, and your business will flourish as well as a result. 

6 Tips to Start Your Own Coworking Space

If you’re interested in starting your own business, the task ahead can be intimidating. From raising the capital to determining the business model then to figuring out how to stand amidst the competition, there is no limit on the challenges. As the real estate prices continue to rise, more and more companies realize the need for having a more cost-efficient office and thinking of joining or starting their own coworking space. It’s evident that the future of coworking has never been brighter. Many groups of individuals are using co-working space nowadays, such as full-time freelancers, startups, professionals who work after hours on side projects, and remote employees. It’s undeniable that the coworking industry is booming nowadays. So, are you planning to start your own coworking space business? Here are some essential tips on what you need to know:

Gather interests from people

Do your research and be sure that there is a demand for a coworking space. Don’t assume that if you build one, eventually they will come. Instead, you can host preliminary interest meetings to get a sense out there and what their needs are. You can create a Facebook Group, and invite as many colleagues and friends to join.

If you do not have a significant demand for a coworking space yet, you can still pursue the idea to start on a smaller scale. It might require finding a convenient place to meet a few times per month. From informal gatherings to formal interest meetings and regular pop-up coworking events and beyond. Remove the pressure from yourself by taking the time to entice people who will become members after you open.

Plan a sustainable business model

There are a number of proven sustainable business models for coworking space. Feel free to mix and match from the following.

Coworking + offices

This is the most popular option for many coworking space owners. Offering a space to people that is also home to a vibrant community of coworkers makes it much more enticing.

Coworking + events

Planning to host a calendar of events can give you double benefits. As you host events, it gives you a source of revenue and at the same time, providing a natural pipeline of new potential members coming into your space. Doing events is one of the creative ways to do marketing. You can produce your own programs or work with external content providers. You can either charge them or find sponsors to cover the costs. You can have events that enhance skills since many people are looking for ways for personal development. You can focus on evenings and weekends, or have continuous programming throughout a week.

Focus on Location

You will want a space that is convenient, safe and easy to find. Look for a location where people want to go and that is not far from amenities. It is important to be in the ecosystem of the market you are targeting. Or, you can target a location where demand is high but supply is very less. Be located in areas where public transportation is readily available.

Utilities to Use

Having a creative and comfortable work environment is very important for people who will work in your space. However, it is more important to consider providing the right utilities especially a high-speed internet connection for the users. Start looking into utility companies and work with them to make specific arrangements.

Start doing Marketing

It’s never too early to start marketing your space. As you start gathering interests from people, it is recommended to do some marketing research as well as a competitive analysis of other shared spaces within your region. This way, you can find areas where demands aren’t being met and transform it into a new opportunity as you start to plan for your coworking space.

Furthermore, establishing an online presence is another key component that you might want to start already. You can start your online presence with online content in the form of blogs, newsletters, and social media to make a difference.

Build a Team

Don’t try to do everything by yourself! If you have other people that can contribute well in your plan, empower and encourage them to help you tackle the countless things you’ll need to do. These people might be an expert in creating events and doing marketing-related activities. Allow them to provide feedback on your brand, floor plans, furniture, and choice of location. Doing this will not only make your life easier, but also inviting them to get emotionally, mentally, and physically invested in the project.

Final Words

If you are still unsure to proceed, consider contacting other coworking spaces from other cities that serve similar targets and ask for advice. One of the greatest resources an entrepreneur can have is quality mentorship. Having a support network during tough times is a major factor of success for new business owners. Hope this has given you knowledge on starting up a coworking space. 

 

How to Staff your Coworking Space

Everyone who is working in a coworking space must work efficiently and creatively. Some roles include managing the operations, helping the community to flourish, and establishing the name of the business. The employees play a vital role in the overall management of a workspace.

The size of how many employees to hire varies upon the size and the level of activity within a workspace. If there are more members, it requires more attention and demands. Hiring the right team can make all the difference and take your business to the next level.

Things to Consider in Hiring your Staff

Attitude Over Experience

Coworking is an industry that generally chooses attitude over experiences in terms of hiring and building staff. It is because understanding customer services, community and providing members involves a personal degree of service. This isn’t just about the employer-employee relationship, but it’s all about building a lasting and thriving relationship with members.

Build a Team

To build a good quality team, it must be well-decided since its a factor that affects the overall productivity of a workspace. In large companies, employee turnover has little impact on their profit margin and overall sustainability. Unlike with coworking space, cost-efficiency has a role to play, but it’s more important to make a smart hire than a decision that is based on financial limitations.

Budget Allocation

There are two ways to allocate budget for staffing. First, it will be better if you have an idea into what other spaces are willing to pay to fill the position you’re seeking. Second, as a rule of thumb, a good Coworking space should dedicate 25%-30% of its expenses toward human capital. In understanding the demand of members and the available resources, informed decisions can be made as to when it’s time to hire new workers.

Best Practices for Hiring

Hiring can be done in these ways:

  1. Posting Online
    This can bring quick results depending on which avenue you use, such as LinkedIn, ZipRecruiter, Facebook and other platforms Indeed as they have an emphasis on highlighting the skillsets of an applicant.
  2. Outsourcing to a Staffing Agency
    This is not highly recommended since it needs to pay extra for the company to manage the employee and at the same time making critical decisions to the group that is not suited for your brand in mind.
  3. Existing Employees
    Reaching out to existing employees will help you know someone with a similar work ethic and skillset who can represent the culture of the workspace.

Managing Your Staff

If you have a highly motivated staff that is geared toward growing your coworking space, the best strategy is to improve their efficiency and productivity. Through a workspace management platform, a lesser trained staff member can handle tasks at the same quality as a more-qualified, higher-paid employee can. This saves time while empowering your staff to be resourceful with their time and resources.

With the help of a trusted Coworking Management Software you can optimize your staff’s time through the following services:

  1. Automated Billing
    It saves on hours instead of doing transactions manually.
  2. Automated Member Management Features
    It saves your staff from manually assigning access to certain areas, generating PINS and confirmations, manually creating and filing terms and conditions, and manually follow up on renewing members.
  3. Integration with One Platform
    The workspace management platform will automatically sync your membership information and perks with all other aspects of the workspace. Using this method, you can add new members through a process in just a few minutes.To have the best performance, setting up automation through workspace management platform is advisable because it helps you to save time and money specifically on able to serve your community better.

Maximizing your Staff’s time

The space owner must find ways to make most of the time of the staff. An initial step on this is to observe of how much time your staff is spending on busy work, so you may know which of the task can be automated. It is instrumental for growth to work with the staff in knowing the sources of revenue, so you will know where to make necessary changes in the operations.

Two practical ways to maximize the time of your staff:

Keep Your Staff Happy and Engaged

A coworking space that is geared towards building community, the staff must be part of the community as well. Collaboration and connectivity are shared equally among the staff and with the community as well. Your staff must embrace the brand philosophy so that they can be well- engaged with the community.

Geared towards Growth

Business owners must aspire to maximize productivity, and in doing this, there must be a balance between focusing efforts towards maintaining the space and attracting new members. You need to make sure you’re not working on just one aspect and not the other. An example of this, if your marketing is on point, but your internet isn’t connected well, then surely the members won’t last a month. Therefore, it’s critical to maintain a balance between sales, marketing, and service.

Also, train the staff to have more room in expanding service revenue. A coworking space may have other demands such as food, coffee, office supplies, and leisure activities. For a member, instead of going somewhere else, you can meet these demands by preparing the staff knows how to handle such situations.

Conclusion

Coworking spaces across the country are applying unique and original ideas to maximize their service revenue. Your staff can be highly involved in all the activities to uphold the brand philosophy of the coworking space. Through a Workspace Management Platform, your staff can easily upsell services to the members. You can entrust your staff not just with the survival of the space, but the livelihood of the community as well.