Our country and the entire world is now passing through a disastrous global pandemic. Covid-19 has erected a lot of businesses worldwide. The unemployment rate has drastically increased by 80 percent. Gigantic businesses, as well as coworking spaces, have started to shut down due to the financial crunch.
However, let’s not focus on the bad part. According to certain experts, the future of coworking space in India will have numerous amounts of benefits in the long term. Coworking spaces would start adapting to a flexible model of workspace once the situation eases down.
Some of the office spaces have already started to step up their post COVID experience in terms of safety.
However, during the first few times, it might be a little bit challenging for coworking spaces to operate as well as sustain their businesses throughout this period. Although, we can make this impossible.
Coworking spaces have already started to step up their safety measures. At various locations in accordance with the guidelines provided by the local authorities and the World Health Organisation. Considering this scenario, in today’s article, we will be providing you several tips to improve the coworking space experience post- COVID-19.
These tips to improve your coworking space experience will definitely help you. To efficiently and effectively handle the current situation. As and when the relaxations happen.
Coworking Space Should Be Induced With Cost-Cuts
Financial stability is the backbone of any coworking space. This is the time when you should be extremely careful and cautious about your unnecessary spendings. Considering the current situation of financial sectors, it is extremely important to avoid any unnecessary spendings.
Avoid all unnecessary spendings that your coworking space is not in need of. Analyze the budget weekly so as to decrease the number of expenses and make it to a minimum.
Have some sweet talks with the landlord of your coworking space. Let your landlord know what exactly are the issues you are facing currently due to financial and stability. In a general case scenario, it would be a challenge for both of them.
If possible, make your landlord understand the current situation and negotiate with him to reduce your expenses related to your coworking space. Negotiation indeed is the biggest weapon.
Communicate Effectively Among Your Coworking Space
Communication is the key to success. For sure, this statement is accurately true. Ensure effective and efficient communication among your coworking space. Make sure to use all possible communication channels to provide all updates with regards to the current situation in your coworking space.
Let your members from your workspace know the ground reality of how the current situation might affect their memberships. Have transparency in communication. Make your team feel as safe as possible. Make sure to hear about each and every member individually from your working space.
Humanity should be kept on top of anything. Communicate with your fellow colleagues as a human being in the first place. We all are sailing in the same boat. Indeed, communication leads to higher achievements.
Take Care Of Your Members
You need to show your members that you care about them. Increase the amount of engagement with your members as well as their businesses. If any of your colleagues from your coworking space is going through a difficult time, identify the key points to support them.
Try to provide discounted memberships while your colleague overcomes their challenges. You need to understand the dynamics of how other businesses are functioning. For example, there might be certain coworking spaces having mild losses in revenues. However, there might be some facing severe financial losses.
Analyze the statistical data accurately and take proper decisions. You should not only focus on cutting your costs but should also focus on how to support your members. Your members are the only person who would be helping you to keep your business stable.
Take this as an opportunity to build trust and loyalty among your coworking space. At the end of the day, make sure that you will leave a positive effect on your members.
Add Value In Customer Retention
Adding value to customer retention is also one of the most important aspects of your coworking space. Customer retention is a crucial aspect to grow your business. Retaining the customers who are not using the coworking space now, might sound challenging.
Most of the time, the value proposition is not connected only to physical resources. Your core product will always be your coworking space. However, there are some exceptions. Maintaining financial stability by just relying on any additional service would not be the correct option.
However, the loyalty of a customer can be increased and enhanced by adding value. If you are able to convince your members to continue with the membership, you are most likely to achieve success in preserving your business for the long term.
Take the account of all additional elements in your business which might make a perfect sense to your members.
- Ensure to maintain a strong community
- Flourish your members with knowledgeable resources
- Increase the number of connections as well as the introduction
- Adapt online hosting of professional events.
- Find ways of investing in a long term relationship with your user base
Our Voice To Enhance Coworking Space Experience
It might be a difficult task to implement the above tips and strategies in the first few times. However, it is also necessary to improve the coworking space experience to sustain your business. Try to add value wherever possible.
Think about your members and the challenges they might be facing. If possible, provide daily tips in the form of weekly calls / online webinars/emails among your co-working space. Educate them to be aware of the current situation. Provide daily health tips in terms of social distancing and self-awareness.
Certainly, this is a difficult time, but we can say for sure that this time will pass. If we all are together the new morning would rise soon.