6 Essential Elements Of Coworking Success
Growing a coworking space can be both an exciting and a daunting prospect – there is so much to think about and even more to be done. But fear not! The Coworking Canvas can help you and your team develop your ideas for building a quality coworking business.
The Coworking Canvas being put to the test
Core Values at the Heart
All good organizations are built around a few core values, and quality coworking spaces are no different.
The core values of quality coworking businesses, as illustrated on the coworking canvas
Whatever values you already hold, the canvas highlights three simple but hugely impactful core values shared by all quality coworking spaces around the world:
- Belonging: People unleash their potential and become resilient when they develop a true sense of belonging.
- Nurturing: People and businesses grow and endure when talent, relationships and opportunities are nurtured.
- Place-making: Communities thrive when people, spaces and places create a joined-up ecosystem.
The Coworking Canvas provides a framework to develop a quality coworking business, centred on these core values.
Based on over a decade of experience and testing, the six essential elements of the canvas can be examined individually or slotted together to view the business from a different perspective.
It may sound obvious, but you’re not a “coworking space” without having a space for people to work from.
It might be an office space, a maker space, a kitchen space – but what makes the difference is providing the right environments within your physical space, in the right proportions (just like the perfect recipe), along with the best tools and resources for your community.
Your space is also where your community will interact with your hosts and get their work done, so it’s critical to get right – both for your members’ businesses to flourish, and your own.
“How do you practically design your space, and use it to communicate your values, beliefs and culture to your members and prospective members?”
The cornerstone of hosting is getting to know who’s in your community – whether they are in your space five days a week or only drop in occasionally.
Actively hosting and developing people’s connections and relationships is key to creating a community and a true sense of belonging.
“What hosting practices will add significant value to your space and community?”
You’re just a workspace if you only provide a desk… so as a quality coworking space, how do you help your members to grow?
Providing a variety of opportunities for learning builds your members’ intellectual capital and will help them grow their businesses and deepen their loyalty to your space.
“How do you provide opportunities for your members to share their knowledge, and bring expertise in from outside your community?”
Connected with Learning is Peer Support, which is all about developing your members’ social capital – the connections that spark the fires and make things happen.
Simple things like people offering each other a cup of tea, being there for support when someone’s having a bad day, or knowing who to ask for a solution to a particular problem.
“How do you build that warm and inclusive culture that your members wouldn’t get if they were working alone at home, or from a lonely serviced office environment?”
Boosting your members’ opportunities to expand their networks through your space is a core function of the value quality coworking can provide in a community.
You need to be an earpiece and a loudspeaker in order to help develop the networks of your members.
“How do you find out what your members’ needs are, help them make connections and build their networks?”
Finally, Co-location is about making a conscious choice to bring together people that share values, interests or needs.
At The Melting Pot, for example, we focus on people who are innovating social change, but other coworking businesses might decide to co-locate technology companies or craft-makers.
“Are you choosing to bring together a specific group of people? How can you spark potential value and develop a sense of belonging to your unique community?”