If you’re a coworking space owner, or thinking about starting one, attending a conference can be a great way to stay up-to-date with the latest trends and developments in the industry. But how do you measure the return on investment of attending a conference? That's what we'll be exploring today.
Benefits of attending a coworking industry conference:
Learning about the latest trends and best practices in coworking.
Getting access to insights and actionable tips that can be applied to your own coworking space.
Networking with peers in the industry, including other coworking space operators, vendors, and investors.
Potential for new business opportunities, such as partnerships and collaborations.
Costs of attending a coworking industry conference:
Registration fees: GCUC and the GWA are in the $500 to $800 range for early bird tickets.
Travel expenses: If the conference is out of town, you'll need to factor in the cost of airfare or transportation, as well as lodging and meals.
Time away from work: Attending a conference can mean taking time off from your regular duties, which can impact your business operations.
Calculating the ROI of attending a coworking industry conference:
To calculate the ROI of attending a coworking industry conference, consider both the costs and the potential benefits. Some factors to consider include:
Cost of attendance: How much did you spend on registration fees, travel, and lodging?
Value of knowledge gained: What new skills, insights, or best practices did you learn that can be applied to your own coworking space?
Potential for new business opportunities: Did you make any new connections that could lead to partnerships or collaborations?
Case studies:
I share a few case studies from coworking conferences that I’ve attended - partnerships formed, collaboration ideas sparked, and introductions that led to new job opportunities
Tips for maximizing the ROI of attending a coworking industry conference:
Plan ahead - Set specific goals for what you want to achieve at the conference.
Go beyond the content - attend social events and make connections with other attendees.
Schedule time to follow up with new connections after the conference to maintain those relationships.