With any great business, there’s always an interesting origin story. The origin story is always composed of the reason for the business, why the business chose a particular community to serve, and how the business differentiates itself from competitors. Telling that story always takes finesse and humility. However, the story matters. When prospective members tour a space, they’re interested in hearing the story, because they understand they need to work, they just need to know why that space is the one for them.
Not two coworking spaces have the same mission. There are coworking spaces focused on particular industries or a type of members. That’s why it’s important to understand the part of the story which inspired the coworking space to come into existence. The reason shouldn’t be a lengthy discussion – rather the whole story could fit into an elevator pitch or be expansive. Filling in the hole in the market is the critical test.
Another massive component of any story is why a coworking space chooses a community. Real estate is all about location, and coworking isn’t much different in many respects. The critical component of the community story is what the coworking space makes whole in the location. Cutting down on commute times because a coworking space is between a bedroom community and a city is one reason. Another reason could be there’s a lot of startup activity in a particular area. Coworking spaces choose locations carefully, so speak to this deliberation.
How a coworking space delivers for its members is the last important piece of the story. This is where the coworking space sets itself apart from the competitors. All businesses have a competitive advantage. Think about the coworking space. Is there something offered in the space others lack? Maybe there are affordable plans or incredible office suites? Whatever the service, make sure these are tangible reasons. Ideas like responsive customer service are not things members can see and touch. Give them something they can interact with, and that allows them to put themselves into the coworking space in their mind. Doing that is the precursor to a sale.
There are many different origin stories for all different coworking spaces. Visit a local Venture X franchise and see how its unique origin story serves its members.