Key Performance Indicators, or “KPIs”, are metrics that you may want to consider tracking for your business.
As Yogi Berra’s famous quote says: “If you don’t know where you’re going, you’ll probably end up somewhere else.”
As a business owner, you want to set goals and then create simple metrics that flow into dashboards that make it easy for you and your team to track progress against those goals/targets. You can download the Coworking KPI list here that I reviewed on this week’s episode.
See the full show notes for tips on setting yourself up for success as you set up your KPI tracking and review process.
This week I share my framework and process for hiring a community manager including:
Steve King is a well-known voice in the coworking industry. He publishes the annual Coworking Forecast. He studies small business trends including the growth of freelancing and the gig economy. While studying the impact of coworking on business networks, he discovered that one of the important impacts of coworking is that it makes people less lonely.
An excerpt from Steve's Harvard Business Review article:
"According to Vivek Murthy, the former Surgeon General of the United States, increasing numbers of remote and independent “gig economy” workers is one of the key reasons for the growing 'loneliness epidemic'. Murthy also points out that loneliness is much more than just a social problem. It’s also a health problem, 'associated with a reduction in lifespan similar to that caused by smoking 15 cigarettes a day and even greater than that associated with obesity.'"
...."Our research on coworking spaces show that these shared, member-based workspaces where remote corporate workers, startup employees, freelancers, and others “work alone together” can substantially reduce the isolation and loneliness associated with remote work."
Steve and I discuss his research and his bet that corporate lawyers will soon be telling HR to reduce their risk of lawsuits by handing out coworking stipends.
This topic came up in one of my Flight Groups this month - as a new entrepreneur, how do you know if you're doing the right things and getting enough done? No boss = no clear feedback loop.
Probably one of the biggest mindset challenges of being an entrepreneur is doing less busy work and doing more of what matters.
This week we talk about a few ways to make sure you're working on the right stuff.
In this episode, Nick Clark shares his journey from signing traditional leases to partnering with Granite Properties to do a 30,000 square foot space in a large redevelopment, to developing his "Offspitality" approach to flexible office space, to buying a coffee shop to support that strategy.
In this episode, I talk to Ryan Hoopes, Senior Associate at Real Estate Services firm Colliers International. He also co-founded the firm’s global flexible workspace advisory practice.
Ryan talks through the evolution of the landlord approach to flexible workspace...and how we’re just at the beginning of an evolution of the landlord/flex workspace operator relationship.
I met Jamie Orr last April on a visit to take advantage of some fresh snow at Heavenly Mountain on the south side of Lake Tahoe. Dreaming of moving to the mountains and working out of a great coworking space, I had to take a tour. After hearing her story, I knew she had to be a guest on the podcast because her journey touched on many of the same questions that my audience is trying to understand.
Jamie shares many insights from her team’s experiences, including a pilot project ski-in-ski-out coworking space at Heavenly Mountain!
In this episode, I share highlights from the latest Global Coworking forecast by Emergent Research.
Overall, no major surprises, just affirmation that the growth in both supply and demand for coworking continues at a rapid clip - about 16% on the supply side and almost 24% on the demand side.
Looking for other industry data? Try these sources:
It’s the season of thinking about new beginnings and how to be a better you in 2018.
I read a book over the Thanksgiving break that I could not put down and I literally wanted to send it to all of my coworking friends. So I thought I should share it on the Podcast and do an episode on top 5 list of coworking books for coworking space owners, managers, etc. to read.
These books did not come out in 2017, nor are the ideas in these books are not necessarily new, but taken in the context of coworking, can help you think differently about your business, use better language to talk about your business and your “why” and to consider how you might do things differently in your business in 2018.
These books are all available on Audible as well which is a great app for buying and listening to audio books. Sometimes that’s the only reading time that I have. The trade-off is you can’t take notes and highlight sections that you want to go back to, but if it’s the only way to get through a book, I say make the trade-off.
This week, my guest is Nick Livigne. Besides the fact that we're both from Upstate NY and went to college in Ithaca, NY, I'm a big fan of the innovation he's brought to Verizon's real estate team. They're transforming underutilized real estate assets (both owned and leased), into collaborative workspaces focused on localized tech innovation.
Not only does this project bring Verizon authentic access to innovative teams, it's a marketing tool for its' brand "powered by Verizon" and the spaces are designed to turn a profit.
Nick shares their objectives, some of their learnings over the last two years, how they localize the spaces and what they look for in a local partner.
This week we go through insights from multi-location operators that are iterating their space design based on learnings from their other spaces.
If you’re starting a space or looking to evolve your existing spaces, be a student of the operators running multiple locations. If you keep an eye on what they’re doing, you can learn a lot without going through the evolution yourself.
This week we cover 8 reasons to attend an industry conference and 4 ways to prepare once you have your ticket.
In an industry evolving as quickly as ours, you can’t afford to not get out to events, get the big picture perspective and help build relationships that can, in turn, help you build your business.
In this episode, I talk with Peter Black, National Director of Workplace Strategy and Design for Colliers International. Over the past 5 years, Peter has been helping organisations develop strategies to transform workplaces to align with their business strategy and become a driver of change.
In this episode, I talk with Matt Going, CEO, and co-founder of Anytime Mailbox. Matt started Anytime Mailbox with one clear vision - everyone should be able to view and manage their postal mail on their mobile phone. We talk about how flexible office providers can leverage the digital mailbox demand to create diversified revenue streams for their business.
In this episode, I go through the top insights from the 2017 shared workspace member survey.
Here are the highlights. Click here to get the downloadable detailed version.
The GWA annual conference is coming up on 9/11/17! If you are an operator that has been open for less than a year, we have a discount code for you. email me at email@example.com for the code.
In this episode, I walk through several key metrics that are critical if you're starting or investing in a coworking space using the results of the GWA 2017 Industry Financial Survey.
In this episode, we talk about why community is one of the core benefits of getting people into flexible workspaces.
Loneliness is on the verge of becoming an epidemic.
We are all social creatures. Research shows that people with stronger social ties live longer.
We CAN create community in shared workspaces and it can have a dramatic impact on people's lives.
Have a listen to a few stories of how community changed lives.
In this episode, we walk through the key elements of the lease negotiation process including:
In this episode, I share a list of 10 factors you should look for as you shop for a location for your coworking space including:
Welcome to the Everything Coworking Podcast Episode Number 51!
Not using a broker could cost you your business and maybe even your house. The same goes for using the wrong broker.
In this episode, we talk about:
1. What a GOOD broker can contribute to your search process
2. How to find/identify a good broker.
3. Some watch-outs in the broker-lessee relationship
4. Two recommendations for brokers that are entrenched in the shared workspace industry
Mara Hauser is the Founder and CEO of 25N Coworking with locations in Geneva and Arlington Heights, IL. Mara is also on the board of the Global Workspace Association.
In addition to starting 25 North, Mara is President of Workplace Studio and has over 25 years of experience in designing and optimizing workspaces.
Iris led the NextSpace team during initial expansion from 1 location to 9 and co-founded the League of Extraordinary Coworking Spaces and COSHARE, produced Freelance Camps and has spoken at various conferences including the Global WorkSpace Association Conference and the Global Coworking Unconference Conference.
Iris currently consults, leads Coworking Mastermind groups, heads the board of directors of COSHARE and showcases industry and movement leaders through her media series, Coworking with Iris.
Iris and I talk about:
In this episode, I talk with Kris Elliott, President of the Preferred Office Network.
Kris has joined me today to help demystify the corporate coworking client.