Whether you run a Coworking space or traditional business center, at the crux of the shared workspace industry, is supplying flexible office services to a continually expanding and increasingly dynamic workforce. Often, however, resources are tight and budgets are small – forcing workspace operators to focus solely on the required operational tasks. This causes other important elements of running their space to fall by the wayside, resulting in lost revenue and unhappy customers.

essensys works with over a thousand shared workspace locations in 27 different countries globally. We're kind of lucky, and it gives us a tremendous amount of insight into different markets and operating models.

Whether Serviced Offices or Coworking Spaces, we see some of the common challenges that arise whether they be people, process or technology problems or needs. We've tried to summarize some of the common trends we see - and how those issues should be opportunities to automate tasks.

After all the work you've done promoting your space, from SEO to PPC, building an active community of workspace advocates, establishing relationships with brokers and shouting from the rooftops, generating and qualifying leads will bring you to a workspace operator’s number one goal: a booked prospect tour. This is your time to shine. This is the point in the lifecycle to captivate your prospect, show off your workspace and close the deal.

BY MARK FURNESS, FOUNDER & CEO, ESSENSYS

Over our ten years in the flexible workspace industry, we've seen year to year market fluctuations, abundant growth and new emerging sectors that have transformed the industry into what it is today. The impact of 2016 trends will reverberate into the coming year and we'll see new workplace trends have their way with the market. Here are my predictions for what we'll see in 2017...   

BY JUSTIN HARLEY, VP INTERNATIONAL BUSINESS DEVELOPMENT, ESSENSYS

Part 9 of the free eBook: The Complete Guide to Growing Your Flexible Workspace Business

Cash collection is what all shared workspace operators are working towards. It is the primary objective of your efforts and is what defines how you manage your overhead, reinvest in your workspace and grow your business. What many operators don’t define prior to opening a space is how they will manage the debt collection process or even what it entails.

Payments are collected via credit card, recurring bill payments or autopay. There is more to it than meets the eye. If you prepare well it can be a very simple process, and if not, debt collection can become a monthly recurring obstacle. Here’s what you need to know.

BY JUSTIN HARLEY, VP INTERNATIONAL BUSINESS DEVEOPMENT, ESSENSYS

Part 8 of the free eBook: The Complete Guide to Growing Your Flexible Workspace Business

Thus far, our Lead to Cash series has highlighted the importance of lead generation, the sales processes, services offering, member management and core IT services in the shared workspace. There are a few recurring themes that facilitate efficiency across the board, and these are automation, self-service and integration.

To sum it up, running a sustainable and profitable shared workspace largely depends on reigning in your processes and simplifying your life as an operator with a platform that supports each and every key pillar of your business.

In this 8th chapter of the series, we'll look at the single most important part of running any successful business, assuming you want to be profitable: invoicing and billing.

BY JEAN YVES, FOUNDER, SOCIAL WORKPLACE CONFERENCE

Part 7 of the free eBook: The Complete Guide to Growing Your Flexible Workspace Business

A workspace operator’s main purpose is to provide office space and services to freelancers, startups, and small to mid-sized businesses so they can focus on their own growth. In a sense, a shared workspace can be compared to an office-hotel or an office AirBnB; Providing on-demand and easy-to-access office services that prevent members from having to dig deep into their pockets for office space or hole themselves up in their homes or coffee shops.

Much like the enhancements in the hotel industry offering more than a room to sleep in, operators must extend services beyond a mere office or desk to work from.

BY DAVID KINNAIRD, PRESIDENT, ESSENSYS NORTH AMERICA

Part 6 of the free eBook: The Complete Guide to Growing Your Flexible Workspace Business