By Shantanu Mohan
October 23, 2017
We had the great fortune to learn from some of the big names in leadership, technology and design. In the past few years I have met with:
++ So Many more
We learned so much from them. It is the reason we started WorkSocial, a Coworking Space in Jersey City.
The Shared Office Space Ride
Since our early days we knew that the only thing that would separate us from our competition would be our Purpose. Our purpose was to create a movement of Happiness by bringing wellness and leadership into work.
We could only do this by creating moments to WOW for our customers. We are and always have been a customer centric business. My teams and I wake up every morning driven to serve the highest level of customer experience.
Worksocial.Works | A Happiness Company
There was a time 2 years ago we were constantly staring at our google analytics page waiting for people to find us. We had programmed an alert on our site to send us a text message if someone logged on our site.
We were some 5 of us in the office. We would hear the phone go off. We would quickly log on to the site to see who it was. For the most part It was one of my mom or dad showing off what I was upto.
So we blocked those computers. It was not funny. The phone stopped ringing totally. We thought we had blocked everybody. It was true my mom was my biggest fan and my only fan. But then one day the phone dinged. I thought my mother bought a new computer so I called her to check. It was not her. Then the rest of us called our parents. Oh my It was a stranger.
We stood around a single computer examining every move of this website user hoping it was no one’s mom, dad or uncle. Within minutes we got our first tour, thus it began, 2 months into our business we had our first website visitor.
Six Months after that we had to disconnect the bell. We had a ton of web traffic and the bell was distracting.
From the start we adopted two strategies, create a customer centric business by creating customer centric services. Play the long game by serving up value in the face of revenue. We made decisions that resulted in trade offs and lost deals. We got disheartened a lot. But never gave up.
We were focused on uncompromising quality
To do this consistently we had to stand firm on client service. To stand firm on Client Service we had to stand firm on pricing. For us to do what we had envisioned we could not deviate from our target and mission.
Our investment decisions were long term, well thought out and planned. Not reactionary to catch up. We made BOLD investments and BOLD Choices. We balanced our emphasis between growth and client growth. There were days when we spent $$$$ we did not have on our clients marketing. Sometimes it panned out and sometimes it did not. Proud to say each one of our client members have grown over 200% this year.
We have not even come close to our full potential yet!
We knew we were leading when the competition started to call and send phantom tours. We entertained it for a bit and then shut it down. Clients from other coworking spaces stopped by and ask about our secret sauce. We had none, so we would say, Our secret sauce is that we can help you find yours.
So what is our business model. Demonetization.
In our shared office space business:
We know our customers will want lower prices. We will never have a client saying Natasha I think you are charging too much little. Or Natasha can you not keep improving the way the space feels.
It is impossible to imagine a future 2 years from now where our coworking spaces would not offer:
++ Much More
It is also impossible to create a future where my clients would be paying for all of this. So the effort and energy in creating all of this effort today would pay off in the future.
We continue to focus on offering our clients compelling value. We see that Coworking today is Real Estate 2.0. For us Coworking is a platform of connections destined to transform real estate rental business. Rent should never change hands.
It will be demonetized, dematerialized and soon democratized. Soon our WorkSpaces will connect all of the services above and bundling them all into a single offering. We will continue to bypass margin and profits to grow our clients.