After the hassle of starting a Coworking space, is the biggest task of running one. The work of an entrepreneur does not end with just getting the property and launching it, in fact, it starts off after the launch where the office space has to be managed on a day to day basis. In the previous blog, we gave a brief about “How to Start a Coworking Space”, in the current one we will tell you what to do to run a successful Coworking space:

The important points to consider to run a successful Coworking space:

• Basic Amenities and Facilities

  – The Coworking space should have basic amenities like free WIFI, pantry, tea & coffee, meeting rooms, lobby, break out areas with gaming zones etc. which the members could use. These basic facilities are what a member looks for and why they choose to work out of a Coworking space instead of traditional office space. Timely management and upkeep of the same will be recommended.

• Hospitality

  – Hiring a Community Manager who typically belongs to a hotel management background at the Coworking space would be recommended. The Community Manager will be the point of contact for the members to address all their day to day concerns. They will look after the centre and report any difficulties faced by any member or anyone else at the centre. Here is a blog on “Hospitality”, that would give a better understanding of what to implement.

• Operational efficiency

  – The operations team should be pro efficient in their work and ensure the smallest of the smallest hassle is fixed at the Coworking space to ensure members can work without any space specific hurdles.

• Community events

  – Keep the community engaged. Host networking and various fun & games activities for your members. This is what will keep them going. The whole point of collaborating and networking at a shared office space should not be lost, hence timely events will help in the same.

Picture courtesy: BHIVE Workspace

• Diverse Members

  – The more diverse the members are at the workspace, the better it will be for the community. People like fresh ideas and such ideas can be from an absolute stranger at a lunch table.

• Cater to Customer needs

  – Customize office space for members who require them and are willing to pay additional charges for the same. Also, provide the members with the option to shift within the centre or across centres of the Coworking space as and when the team size of the members increase or decrease.

• Vibrant modern offices

  – Continue to provide the members with bright vibrant offices that they would love to work out of. Regular upkeep of the space will ensure the same. Be up to date with the market demands and provide the customers with a space they would love.

• Marketing

  – It should not stop with the launch of the property. Marketing is a continuous process and you should continue to spread the awareness of your business. Another marketing tactic will be offers and discounted prices of the workspace for the members.

• Flexibility

  – Let your members have the freedom to work as and when they like, that’s why a 24/7 workspace will be ideal. Also, giving the members the freedom to access other locations of your Coworking space will also be a jackpot for them. Happy members stay the longest!

• Monitor

  – Continuous monitoring of the Coworking space is necessary. How the workspace is handled by the members- at the end of the day, it is a business and there should not be anyone creating a nuisance for the rest of the members or the business. Hence, have a check every now and then by the team or have a system in which members can come forward with the hurdles they are facing at the office space.

• Feedback sessions

  – Have a feedback session with the members over an email, google form or in-person conversations. Work on the relevant feedback and show the members/ customers that you care!

• Financial Audit

  – Conduct regular internal and external audits to ensure that the money invested is used in the right space and that the returns are regular from t business. An audit will give a true and fair view of the financial conditions to the stakeholders. It is important to keep the stakeholders of the company updated and happy!

These are the pointers one has to keep in mind to build the best Coworking space. Create something exceptional and worthy to be a part of the brilliant office space movement!