We have recently finished moving all of our businesses into co-working spaces in their different locations around the world.
Do you know how we feel now? So bloody relieved!
We did a lot of research when we picked our different co-working spaces. Let me tell you, they are not all the same, in fact every one has its unique difference and you need to be aware of this.
So how did we decide on one from another? We had a list of particular ‘requirements’ but there was one factor that was most critical to us.
All of our businesses are built around creating amazing communities as we are a big believer that you are the sum of the people around you.
This means that you need to be conscious of the positive or negative effect that people can have on you. This is why we have just rebranded WE to be a “Community of Tall Poppies” and the reason behind making both WE and WE LOVE NUMBERS to be application only.
Our team members are the most critical element to our success so we need to ensure that we put them in great environments.
These two entrepreneurs have extreme clarity about the vision they have for their space and we are very aligned this vision. The easiest way to gauge this was the other businesses who were working in the space and the way that both Conrad and Steve run their communities.
In New York we are working out of WEWORK which is a behemoth of a company now, but they still make you feel part of a very special community.
Some other positives that we have experienced are the following:
No property management – there are so many hidden costs in running an office, 50% of a team member’s role might be taken up in just managing the office.
Variable costs – When you are on the entrepreneurial journey, variable costs are extremely important as they allow you to make pivots regularly.
Flexibility – We can decide to move locations, increase or reduce headcount without having to worry about a fixed location
Business opportunity – You get to work daily with potential clients
Shared learning – You get to work daily with people who have many different skill sets and experiences that they are usually willing to share with you.
Company – We run a dislocated team and it is nice for our team members to be surrounded by positive people rather than being alone.
It’s not for everyone, but I would encourage you to explore the option of moving to a co-working format as it could be a great option for you.
Finn Kelly is the CEO and co-founder of award-winning Gen Y financial advisory firm, Wealth Enhancers, along with the parent company, premier private wealth management firm WE Private.