Don’t have an office space for your startup, Co-working is an option

Entrepreneurs at work in a Co-working space --- Image borrowed from www.coworkinglogin.it

 

So you’ve successfully started your business and are operating from your home office.  The business is not booming but things are picking up.  Meetings have been set with potential clients and investors but you are really uncomfortable accommodating them in your home office.  There is now a solution, it’s called co-working and for a startup business, it could be the answer to your prayer.

The concept of co-working spaces is well documented in developed countries, but for those of us who live in the Caribbean, it is still a new concept.  The following are some benefits for startups who want to use this as an option:

Benefits

·         You have a professional office space in which you can meet clients and conduct meetings and other business activities.

·         You pay for the space and time you need, only.

·         It provides a more formal arrangement than a coffee shop or internet café.  In addition to internet access, the co-working space also provides access to other technologies such as conference room facilities, AV equipment, office assistance and virtual assistance while you are ‘out of office’.

·         It provides networking opportunities – Not only will you be able to link with other professionals who can help to expand your business but also potential clients who are interested in accessing your product or service

·         It makes your business more productive – At home you may feel the need to take a ‘short’ break which can turn into hours.  In a formal working space, production is consistent; therefore you will be forced to make the time count.

·         There is a feeling of belonging – If your business is constantly in a space, you develop a feeling of being part of a community.  Your co-workers look out for you and you reciprocate.  There is also an increased possibility that your business will benefit from referrals based on the relationship developed with your ‘co-workers’. 

Of course there are some disadvantages to co-working but the benefits, particularly for a startup, far

outweigh the drawbacks.

Have you worked in a co-working space? Share some of the benefits your business has gained because of it...

Looking forward to hearing from you!

How to create a focused marketing message

Borrowed - Adam Kirk Smith

Marketing is all about messaging; i.e. getting the message right and reaching the right audience with the right product or service at the right time.  But in a seriously overcrowded market place it is sometimes difficult to break through the noise.   In the words of a friend of mine, ‘there are competing priorities’ or in this case, ‘competing messages’ pulling the consumer’s mind in every possible direction.

As a startup business owner, consistency is key when coining your business’s marketing message.  Nothing is more confusing to the consumer than getting mixed, incomplete or inconsistent messages from the business.  Not only should the message be consistent but the same message must be used across all media platforms; both online and offline.  Consistency also requires that the message is simple, focused and understood by the targeted audience.

Here are three ways that startups can create a focused marketing message:

1.     Understanding consumer needs - While it is important to try to understand the customer, it is more important to understand their needs.  Ideally, your business should be providing a solution to a consumer problem.  Consumers are interested in identifying products and services that make life easier, are affordable and convenient.  If your business can tick all three boxes, then you are on your way to understanding your customers.

2.     Know your customer – Customers like to receive messages that speak directly to them.  To speak directly to the customer, you must know who they are, what they like, where they hang out and some of their favourite activities.  Knowing your customer also means appealing to them in a ‘language’ that they can understand.  Storytelling is a great way to capture the customer’s attention.  Sharing an experience instead of ‘selling’ the specific product or service is also a great way to grab the customer’s attention.  Further, consumers are highly motivated by ‘what’s in it for me’; it is in your best interest as a business owner to show them.

3.     Know your business – Do you have a key marketing message for your business? If not, it’s a great place to start in getting to know your business.  You know the product or service you are providing, but what does it do for customer? How does it make your customer feel or act? Does it make the customers’ life easier?  These are all questions you can answer in getting to know your business.  In coining your marketing message; keep it simple but consistent, focus on the customer and ensure that the product or service delivers what is promised.