Business Tips: Advice from the World of Coworking

You don't have to run a dedicated coworking space to take advantage of the new way people are working. Tons of small businesses, ranging from law firms to design studios to real estate offices, are leveraging empty desks for cash. Utilizing your excess workspace can off set real estate costs in a big way.

  1. Be flexible and smart about the physical set up of your space. Buy inexpensive things that can shift and change easily. We went with Ikea butcher blocks and legs. It was cheap, it looked cool and was multifunctional.
  2. Set expectations from the first day. Offer an orientation or walk-through to define clear boundaries. Think through whether or not to provide:
    • Access to the physical space overall — Do they get a key? Is it available 24/7 or just 9-5? Are conference rooms and communal spaces first come/first serve or do they need to reserve a space?
    • Access to equipment — Printing, office supplies, any technology, what limits work for your business?
    • Access to the network — Do they get a guest password? Are there limits to bandwidth?
    • Access to kitchen / food — Is it a coffee free-forall? Who does dishes?
  3. Put community first. People, especially remote and independent workers and small teams, are looking for community. It's why they are willing and interested to spend time and money at your space.
  4. Get social. Whether it's a happy hour after their first day or week or an all-office brown bag lunch together, build trust and build relationships with your renters.

If you have any questions about renting or managing your space, or how to set a culture of success in your space, feel free to reach out to Sam via email at sam@desktimeapp.com or visit www.desktimeapp.com/nar for more information.

Advertisement

About Commercial Connections

Commercial Connections is published four times annually and distributed to members of the National Association of REALTORS® and commercial real estate industry leaders. To subscribe to the newsletter, update your NRDS profile to include commercial interests in the "Field of Business" list.

Update your Field of Business in NRDS