IndyHall 201: The Iterative Process
Filed under: coworking, FAQs, Independents Hall, IndyHall 201, Kudos, Movies, Videos
A couple of weeks back, we posted a rather long “FAQs” style video that Geoff and I shot while in Austin for SXSW. We’ve gotten quite a bit of positive feedback from that post, so we’re glad to continue that effort.
Only this time, we’re not asking you for nearly an hour of your time. We’re going to keep these under 10 minutes.
We’ve started a series that we’ll call “IndyHall 201″ for the time being. These are some of the things that we consider important fundamentals, but are a little bit higher level than the usual line of questioning we get, hence the “201″ class level. Get it? Good. Moving on.
One of the first topics we wanted to cover was one that we take for granted, but people outside of the software world don’t necessarily have exposure to:“The Iterative Process”. In this video, Geoff and I spend a few minutes talking about Agile as a software development methodology, as well as decision making skills that we’ve employed along the way while developing IndyHall.
A whole lot of digging into localized trends happens on the Coworking google group, usually to appease an investor.
One of my favorite quotes is from Josh Kopelman (Philly/SF Venture Capitalist, founder of Half.com):
“I’d much rather fund an entrepreneur that can adapt to change than someone who claims they can predict the future.”
http://twitter.com/alexknowshtml/statuses/783133234
Rather than asking what our (or any coworking space’s) membership, growth, square footage, expense numbers look like, why not ask what things we attribute to changes in our numbers, and how we operate around those changes?
Nobody ever asks us those questions.
The answers to those questions are the ones that provide insight into how to iterate, and grow your coworking space and community, without trying to predict the future. They’re going to make you a stronger entrepreneur, and a happier person in general. How’s that for Kool-aide.
We hope you enjoy this installment, and be on the lookout for more to come! Feel free to post questions here or in the video time line.
Coworking 201: The Iterative Process
“The essential ingredient is the workers”
Filed under: coworking, FAQs, In The News, Independents Hall
The [coworking] space can be in a renovated house, large office or custom building. But the essential ingredient is the workers. “A coworking space, without the community of people to go along with it, is called ‘an office,’ “ says a Web site devoted to the concept.
Nice. We totally agree.
“Free” is a lousy motivator
Filed under: coworking, FAQs, From the Business Side, In The News, Independents Hall
I’ve never really thought that free days made a good incentive to convert non-members to paying members, short or long term.
In the short term, part of the barrier to entry created by paying for membership at a coworking space is dedication and commitment. Free isn’t a good way to start a committed relationship. Furthermore, even our night shift members have pointed out that they get more done in a 4 hour session that costs $10 because they know they should; sitting on the couch working on their side projects is free, but that means that slacking has no real cost. When you slack AND you pay for your desk-time, your utilization patterns change.
Furthermore…there’s the factor of intrinsic vs. extrinsic motivators.
Extrinsic motivators, like providing things for free, or other monetary (or otherwise token) incentives may work once. It may work a few times. Even several times. But odds are, if your goal is to charge money in order to sustain at some point, the “free-ness” will have to go away at some point. And then expectations need to change and you’ve taken a technical problem (cashflow) and made it a social problem (commitment).
Free is an extrinsic motivator. Business services are extrinsic motivators.
Community is an intrinsic motivator. Being empowered is an intrinsic motivator.
Intrinsic motivators are the ultimate in sustainability. They’re harder to provide initially because you have to figure out what they are, but we think it’s worth it in the long run.
It only takes ten
Filed under: coworking, FAQs, From the Business Side
If you’ve read some of our responses in the Coworking google group, or seen the videos we’ve produced so far, or seen either of us speak on the topic of community building, you may have heard Geoff or I say “It only takes 10″ committed people to start a successful coworking community.
In the case of coworking, that “10″ number is variable, but a likely minimum, to having enough people to validate the concept for your area, and start helping spread the word.
Need more proof? The mantra that Geoff coined showed up on Seth Godin’s blog this morning.
http://sethgodin.typepad.com/seths_blog/2009/04/first-ten-.html
While Geoff’s point and Seth’s point are slightly different, the core concept is strikingly similar: if you’ve got a core, committed audience of 10, you can translate that to a degree of confidence that should help you take the leap to move forward with your project.
Additionally, this is another example of the fact that community building is replacing marketing, and coworking has an opportunity to pave the way for that shift with good examples and case studies.
Have you seen the number ten come up in groups like this before? I’d love to hear other examples.
