Over the years, the culture of work has changed drastically and there has been a big shift from the traditional office setting to the modern office setting. The demand for office spaces has moved many into the business of coworking spaces.
Coworking is rapidly growing, and his new trend gains more popularity among freelancers, entrepreneurs, and other people who prefer to work online.
While this modern-day phenomenon hasn’t been ignored by smart businessmen. This new market segment has emerged as a new source of income for people all around the world.
Nevertheless, as with any kind of business, this one has its own stumbling blocks. Therefore, it is strictly important to know the things you should not do as a coworking space owner.
This is important as knowing pitfalls would help youbuild a strong and sustainable brand.
In this article, you will get familiar with 7 things you should not do as a coworking space owner.
While there are many advantages to having a coworking space, there are several things you should avoid doing as a coworking space owner. Here’s a quick rundown of things you should not do as a coworking space owner.
Admittedly, there are some organizations where you may just rent an office space and go about your business, but unless this is your preferred coworking style, many coworking spaces strive to provide a pleasant and dynamic environment that encourages people to spend time there rather than just being there.
Though treating your coworking space like any other leased office company may seem like the best option, doing so will just serve to drive people away and lose them since they'll get bored. As an alternative, be imaginative in your approach and strive to make things seem as bright as possible. Organize and host events and performances. Invite others to participate in discussions that are both professional and entertaining in nature.Favorite events at Her Power Space, woman forward, men welcoming, black woman-owned coworking space
Have casual weekday activities, and even collaborate with other companies outside of your coworking space to provide exciting bargains, such as bowling or organizing a regular drinks session that everyone can participate in.
What you decide to accomplish is very dependent on the kind of your company and the type of location you're selling. You may choose to keep things professional rather than being too casual, and that is also OK. Simply think outside the box when it comes to what you can offer your customers and what they will connect with the most.
Of course, there will be a lot of trial and error to figure out what works for you and what people react to the most positively. Other ideas for a night out may seem fantastic to you, but they may turn out to be very uninteresting to others, and some ideas may seem boring to you, but they may turn out to be quite popular with others. It all comes down to figuring out what works.
When it comes to choosing locations for coworking spaces, a lot has to be put into consideration. When it comes to the sustainability of your workspace, a bad location might be quite detrimental. In addition to having nearby attractions that will draw customers, it is critical to understand the wants and desires of your prospective members.
Many operators looking to open a new facility or extend their operations choose walkable metropolitan areas as their place of choice. Many cities offer excellent suburban Coworking locations, though, depending on the local market. Coworking space is almost as abundant in suburban locations as it is in city centers which are large and also act as key markets for the coworking industry.
Choosing city centers wouldn’t be a bad idea after all, as most businesses are situated in central areas, not just that, these areas are usually very accessible. Hence, make it a point of duty to always take into consideration the location of your coworking space as a bad spot might prevent you from making the profit you desire.
A lack of security in a Coworking space puts the information of the operator and all other members in danger of being compromised. It is possible that failing to take the necessary safeguards may prove to be a very expensive error in the case of a breach. It's vital to have standards in place to cater to the demands of your customers, visitors, and employees alike.
andcards coworking space management platform integrated with Kisi access control system for safe and easy smartphone door unlock
Keyless entry systems not only provide convenience for your customers but also provide you with the ability to monitor how your space is being used. The use of door access may also help you save money on running expenses while also reducing security threats.
People become insecure when exposed to threats, particularly insecurities in a workplace, this makes a very bad impression on the business and since most businesses thrive by referrals, individuals whose lives had once been threatened in a particular coworking space wouldn’t refer to other people to patronize that coworking space.
You will gain a competitive advantage in sustainability, efficiency, and making the most of opportunities if you understand and avoid the faults listed above.
In order to successfully design your coworking space, there is no doubt that you have put much thought and effort into it. If you haven't, you have made a mistake in the truest sense of the word. However, failing to devote sufficient time to it, whether because you were preoccupied with marketing or acquiring the necessary equipment, can be a very costly oversight.
If your meeting rooms are going to be used by clients who are bringing their own clients and who want to make a good impression, they must be pleasant and appealing as well as comfortable. All of these elements, on the other hand, are only the very minimum of what you should be aiming for.
The design of coworking spaces should take into consideration the physical demands of the people who use them. First and foremost, your coworking space should be bright and airy. To this end, ensure that your workspace has sufficient open space and natural light sources. When it comes to the building where your coworking space is housed, it would be ideal if you could include some greenery in it.
Last, but certainly not least, the consideration you should make is the visual component of coworking space design. To make an informed decision, you must consider your company's branding and the kinds of customers who will be converted into customers.
Ultimately, design is what draws people in and holds their interest. Weigh your options carefully.
The ideal moment to start building your community was yesterday, and the second-best time is right now, according to the experts. You don't want to open your place just to find it utterly devoid of everything! Before you even open the doors to your location, throw events, arrange gatherings, and publish a newsletter to promote your business. At each event, encourage attendees to sign up for a newsletter, and attempt to do some preliminary groundwork in the area before opening.
When you rent out houses on Airbnb or similar platforms, you can usually handle everything yourself since the market isn't too crowded. In contrast, managing a coworking space is a whole different experience, and you will not only be renting out space, but you will also be in charge of everything.
The amount of effort involved in dealing with this is overwhelming for a single individual, particularly if your business is just getting started and people are checking you out for the first time, or if your business is growing and things are only becoming more crowded. Never underestimate the amount of time and effort required to manage a coworking space.
If you want to work for yourself and handle everything on your own, you'll most likely need to limit the amount of work you accept in order to keep your firm modest and manageable. Don't attempt to take on too much at once since this will negatively impact every part of your company.
As an alternative, when you reach a point where you want to expand your business, it's time to consider finding some business partners and hiring someone you can rely on to collaborate with you. As long as you can put together an excellent team to support you, the sky is the limit in terms of what your coworking space can accomplish.
Cooperation with other coworking spaces may seem absurd at first look, but it is not impossible. Why would you want to do business with your direct competitors?
Cooperation with other coworking spaces, on the other hand, may provide you with certain advantages. Consider the following scenario: your coworking space provides printing services, whilst your partner offers a large conference room area.
Furthermore, your coworking space may feature an excellent conference room location, whilst other coworking spaces may have public printing facilities. Rather than being unable to provide these services, you can collaborate and ensure that your clients have the greatest possible experience. This is an excellent strategy to foster consumer loyalty and maintain a satisfied customer base.
You can create a win-win situation for everyone involved in your cooperation. You make it possible for the occupants of your partner's facility to come to your coworking space and utilize your printing service. From your partner's perspective, you will have the ability to hold a number of events in conference rooms.
The mutual advantage should always be the first consideration when establishing this kind of collaboration, as a general rule.
Professional-grade internet is just as important as coffee, printers, and air conditioning at a workspace. As one of the basic things in a Coworking space, members will demand a fast, dependable internet connection.
It's also not simply an issue of setting up a connection. You must determine if your prospective clients will demand hardwired internet connections or whether Wi-Fi will suffice. Furthermore, selecting a platform that safely and conveniently offers internet to your full-time members and visitors is crucial.
Smart technology is also changing the way we collaborate. Traditional ways of communication are being replaced by video chat, live document sharing, and screen sharing. Allocating dollars to develop your smart technology will go a long way toward a member's decision to remain or leave your place.
Your workforce and operational demands should also be served by technology. A workspace management platform has been shown to save time, boost efficiency, and reduce expenses associated with task processing. You're losing money if you're manually processing member information and don't have a centralized system in place to administer your Coworking space.
Making this error might cost you money if you're trying to extend your locations or market to attract new members.
As you can see, there are several blunders to avoid while designing, organizing, maintaining, and launching your coworking space. None of these is very difficult to handle, but if you don't, you may lose out on the potential to turn your coworking space into a really wonderful company.
Of course, no company owner wants that, so make sure you're thinking outside the box, doing your research, and getting some inspiration to help you make the best selections for your coworking business.
Paul Aroloye is the founder of PaulAroloye.com. He simplifies SEO for online entrepreneurs and businesses, helping them 10x their organic reach with their websites/blogs and YouTube channels. You can connect with Paul on LinkedIn.