As someone who "put the cart before the horse", I would agree with Alex, don't worry about the business plan at this point, get the people first, then the business plan will define itself. I made this mistake and now I have a space that is open but has no users (yet).
-Mike On Feb 25, 10:36 am, Matthew Wettergreen <[email protected]> wrote: > This coworking group exists because we've all learned a wealth of > knowledge from each other and have a firm commitment to the greater > community to in turn help everyone achieve success and sustainability. > Over the past three years (congratulations everyone), this sharing has > cemented the methodology for opening a successful coworking space. > Followed properly these steps are financially low-risk and move at the > pace of the community's needs. By jumping steps or opening a coworking > space in a vacuum you're making a high-risk move that could result in > something nobody wants, financial loss or worse, the closing of your > space. > > These low-risk steps start with going out into the community and > talking about coworking but mostly listening (this is something that > Alex mentions again and again as being important) which will help you > discover what the needs and desires of the community are. If there is > no community then you build one through jellys or meetups. Once you > have the support of the community the next low-risk step would be > getting a commitment (not necessarily financial immediately) out of > the people who will become your anchors when you find a space. The > next low-risk step would be to document your search for a space based > on the stated needs of the community. With the community behind an > idea you're less likely to take a financial or business bath when you > open the space. Additional low-risk steps that relate to financials > would be to build based on the usage of your community, ie not > spending money on superfluous equipment until demonstrated need. > > Low-risk steps and high transparency to your community and to the > google coworking group are essential for all of this. By doing this > you can immediately avoid problems like an empty space or thinking you > need an advertising or marketing budget to make your space successful. > By dropping a space into the landscape and saying "it's here, everyone > come" you're not only taking high-risk but you're working backwards > from a PROVEN methodology that will allow you to open with a path > towards success and a leg up towards sustainability. The most > successful coworking spaces have been the ones who have been the most > open with their process to both of these communities from the > beginning.Tara and Alex and Jacob and others were incredibly helpful > in the infancy of Caroline Collective preventing us from taking > financial or community missteps that could result in reduced success > for the space. > > I dont' think anyone's arguing against forming a strategy but forming > a business plan for a coworking space before having a community behind > it might be putting the cart in front of the horse. A business plan if > eventually needed, should be simple because you can cull from > discussions with the community: the ones who will ultimately utilize > the coworking space, financially contribute, provide sweat equity and > ultimately evangelize the virtues of coworking. From another > standpoint, you already have a dynamic business plan and business > advisors: this google group, several posts by members of the coworking > community and the coworking wiki. There's enough information in those > places as well as the wealth of resources from the voices on the > google group that can help overcome any problem that people will come > up against. But this is only if you are open and transparent about > these problems. > > Matthew > > -- > Matthew Wettergreen, Ph.D > coFounder - Caroline Collectivehttp://carolinecollective.cc > > cell: 713.825.4613 > email: [email protected] > twitter: organ_printerhttp://matthewwettergreen.com > -- > > On Feb 25, 9:59 am, Alex Hillman <[email protected]> wrote: > > > Susan, > > Your point that every market is different is exactly the point I'm making: > > not that you should go in unplanned, but a traditional business plan > > template isn't going to properly serve a venture like this in my opinion. > > > The plan you described: *bullet points & flexible goals*, and I'll even go > > so far as to define a *mantra* or set of *core values,* is going to help you > > have the check points for making decisions along the way. > > > Planning is extremely important, and running your coworking space like a > > business is important for your sustainability. > > > Just be ready for that plan to change once new people enter the mix :) > > > -Alex > > > -- > > ----- > > -- > > ----- > > Alex Hillman > > im always developing something > > digital: [email protected] > > helpful:www.unstick.me > > visual:www.dangerouslyawesome.com > > local:www.indyhall.org > > > On Wed, Feb 25, 2009 at 10:46 AM, Susan Potter < > > > [email protected]> wrote: > > > While I completely agree with Alex that walking in to a bank with > > > financial > > > statements that show revenue already coming in is far better than going > > > into > > > a bank with an idea, a business plan should be used a tool by business > > > owners. I am not sure about Alex's business/startup experiences, but as > > > someone who has started a number of ventures from scratch I have found > > > having a basic business plan (just in bullet point format for my own and > > > partner reference) to be very beneficial, especially when you have > > > partners. > > > You might be able to "wing it" by chance or because you have the right > > > connections, but if you don't have connections on your side, basic > > > preparation is key no matter what business you want to start. > > > > There isn't just one exact model for a coworking space or any business > > > idea > > > out there, there are multiple and every situation will likely be > > > different. > > > I am not suggestion you violate the notion that a coworking space is > > > about > > > the people - not at all. > > > > Each market (in this case physical location and target audience) has > > > slightly different needs (i.e. in larger cities people might be > > > willing to travel 20 miles to a coworking space - in a small college town > > > that would NEVER fly without anything *very* different about the > > > offering, I > > > don't know what though?). Also while the target markets for all coworking > > > spaces might seem to be the exact same in every location, I don't think > > > that > > > is true. For example, I know in some areas there are large numbers of > > > tech > > > freelancers (e.g. SF bay area and Raleigh-Durham both places I have lived > > > and worked in before - not to mention Boston, DC metro, etc), whereas in > > > other areas the types of freelancers will be less tech more professionally > > > oriented (e.g. architects, lawyers, designers, etc.). Having a plan to > > > target the specific target audiences that are relevant to your area is > > > definitely a good idea. It helps you think through things like "who do I > > > really want to attract to my space to make it a better experience for all > > > involved", which creates a better overall ambiance and will be the > > > backbone > > > of your longer-term success. > > > > Home grown spaces can work, in fact, many on this list have proved it can > > > work. However, that does not mean planning and preparation don't go a > > > long > > > way too. I use business plans as a tool for organizing my thoughts and > > > addressing potential pitfalls before they show up. Since leaving the bay > > > area I have steered away from VCs and only occasionally sought loans from > > > banks or private investors, but I now always "write" a business plan if > > > for > > > no one else than for myself. If you are using a business plan this way it > > > doesn't need to suck the soul out of a venture. > > > > Best, > > > Susan > > > -- > > > Susan Potter > > > Collective Turf Coworking > > > Urbana, IL USA > > > > On Wed, Feb 25, 2009 at 9:19 AM, Alex Hillman < > > > [email protected]> wrote: > > > >> Trevor, > > >> Stop right there: > > >> You don't need a business plan just yet, you need some people. Those > > >> people will be your business plan. > > > >> Yes, you could walk into a bank with a 10 page document explaining how > > >> and > > >> what you are going to do with their money...or you could walk in with > > >> signed > > >> checks from 10 paying members and say "see, they're already willing to > > >> pay > > >> for it". > > > >> Developing the community before you think "business plan" is critical, > > >> because your business plan is likely to NOT jive with the people you're > > >> ultimately trying to reach. > > > >> There are some great recent posts about community development roadmaps, > > >> and I have one that's a little more abstract that I crafted after seeing > > >> MILK at the end of last year: > > > >>http://www.dangerouslyawesome.com/2008/12/22/a-roadmap-for-community-... > > > >> Good luck! > > > >> -Alex > > >> -- > > >> ----- > > >> -- > > >> ----- > > >> Alex Hillman > > >> im always developing something > > >> digital: [email protected] > > >> helpful:www.unstick.me > > >> visual:www.dangerouslyawesome.com > > >> local:www.indyhall.org > > > >> On Tue, Feb 24, 2009 at 4:58 PM, Trevor <[email protected]> wrote: > > > >>> Hi everyone, > > > >>> My name is Trevor I live in Mississauga, Ontario which is very close > > >>> to Toronto for those of you who aren't familiar with the area. I'm > > >>> relatively new to the concept of coworking but I'm so excited that > > >>> this exists. I have been thinking about creating my own space and I > > >>> would like to start preparing a business plan. I don't really know how > > >>> to get started writing a business plan are there any good templates to > > >>> use? Can anyone suggest a good starting place? --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Coworking" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/coworking?hl=en -~----------~----~----~----~------~----~------~--~---
