Host, Tony Bacigalupo, talked to Iris Kavanagh about the value coworking alliances and building meaningful relationships.

Meaningful Relationships

There should be the same focus on community and relationship building as there is on the amenities in a space.  Coworking spaces foster unique relationships with members and communities.  These relationships can create a much more powerful force than if your focus is solely on physical space.

There is currently a trend towards commercialism.  However, Iris noted that there are also people who are working towards building local community at the same time.  The driving force behind these sort of neighborhood spaces is the excitement to learn what members are doing, what projects they have, and how to help each other and themselves.

There needs to be more conversations about what happens to a community or the brand of a space when investors are not aligned with the mission of coworking.  That is a major problem many spaces face. If you are looking to take money on to build your dream from someone is not aligned with your business’s vision, they might expect you to make decisions that you might not want to make.  You have to make sure the purpose of your business is in the interest of your investor. Taking on an investor is like entering a marriage so serious thought and consideration should go into the making of a decision. These relationships are long-term.

Having a Purpose

There is no better way to build something that is able to compete in a competitive market than with a strong purpose.  A good investor understands there is more than just getting a lease, designing space, and setting prices.

Get your priorities clear.  Your mission and goals, whatever they may be, should always be in mind.  You need to have a supportive group of people around you who you have chosen to align with because of your shared beliefs.