Tag Archives: Coworking Space

Work Smarter, Not Harder: Ways to Grow Your Business Without Spending Money

Ways to Grow Your Business Without Spending Money

All small business owners and startups know that it takes more money than you think it should just to get your business up and running. Getting all of the components working together, with your supply chain and inventory management operations running seamlessly, can take a while and the initial investment in technology and equipment can take more than a chunk out of your startup budget. Then, when your business starts to take off, growing pains can keep your profit margins from increasing, especially if you plan to open your own office or invest in warehouse space with a large overhead. While tech startups and Software as a Service (SaaS) companies may not need to invest in storage spaces or packing and shipping supplies, there are still a lot of ways your company can be wasting money. Streamline your company’s operations by implementing these things that help you grow your business without spending money.

  1. Join a coworking space, so you don’t have to spend a lot of time and money setting up your office and you can actually focus on your business. With coworking becoming the new norm in office settings, many businesses set up shop in shared office spaces and remain there as their needs change. Most coworking spaces offer flexible monthly rentals in upscale buildings with all the amenities you need plus great motivated settings.
  1. Cut your overhead labor by automating some of your non-producing functions. Chances are, you can hire an accountant from your coworking network that will work on an “as needed” basis. Sales reporting, order monitoring, and record keeping can be sometimes accomplished with integrated software unless you ship a lot of products, then you may want to consider a 3rd party logistics company that can automate your supply chain and take over your customer care services.
  1. Encourage your staff to try more efficient ways of doing things. We’ve all heard, “if it ain’t broke, don’t fix it, but we can all look for different ways to perform certain tasks that save time and money. It might just be a way to bundle supply ordering or automating parts of your fulfillment operations. 
  1. Fine tune your marketing message. Less is more today in marketing messages. A well-designed logo can go a long way to getting your products more exposure. Graphic designers will tell you that a good logo can be drawn in the sand. Look at your marketing initiatives. Are they positioned where your brand base will see them? Join forums if your customers are asking each other questions about using your products and post to these forums as an expert advisor. If you’re a restaurant, get your business into area directories to attract visitors and locals alike. 
  1. Get the word out. Get involved with your brand base. Join LinkedIn, Twitter, Facebook and other outlets where you can publish articles that highlight your services or products. Download industry magazine and newspapers’ editorials. Submit articles about your products or services. Send press releases to your local newspaper and feature articles on your website when you host an event, launch a new product line, or surpass a milestone.
  1. Be the face of your company. Offer your advice when local media needs an expert in your field. Create your own video blog on your website or host your own educational events and offer attendees a discount or a coupon to use to purchase your products. Network within your community. 
  1. Feature promotions on your website and position them on your homepage or somewhere your potential customers will easily find them. Offer limited time specials and end-of-season clearance items. If you have returned items that you can refurbish at a low cost, sell them for deep discounts rather than counting them as losses. Post these specials on your Facebook page, as well as on your website. 
  1. Focus on the services or products that sell and turn over other responsibilities such as your content management and other marketing initiatives to other associates who can turn them into profitable entities. The learning curve on trying to master aspects of your business that aren’t exactly in your wheelhouse wastes time you could be spending developing a new line of products. If you’re the principle and the crew of your business, hire freelancers to help you with content and design for your web presence. While not free, a professional-looking, high functioning website will pay for itself and help your business grow exponentially. You can’t be an expert in every aspect of your business and keep growing. 
  1. Reward your employees for good work in adhering to deadlines on time-sensitive issues, meeting budget timelines, serving your customers well, and increasing your bottom line. A little appreciation goes a long way. Your team will appreciate small bonuses and be willing to go the extra mile to help your company grow. 
  1. Give away promotional items on your website or at your physical location. Send them with your invoices and deliveries. Along with coasters and pens, these freebies can also be coupons, how to videos, or tips on getting the most out of your products. If your business centers on kitchen equipment and appliances, you could offer recipes or access to a downloadable recipe book.

Streamline your business, taking stock of and replacing processes that don’t work with more efficient functions can help you grow without spending money. At Venture X, our shared office spaces can lower your company’s overhead in many ways. Working in an energized environment, among other like-minded professionals, growing businesses take advantage of built-in networking opportunities. Plus, collaboration possibilities abound in upscale office environments that feature many different shared desk and private office spaces, as well as comfortable places to take a break. Contact Venture X in your area to schedule a tour. Grow your new business or move to the next phase of your successful enterprise, saving time and money along the way as a Venture X member!

7 Amazingly Successful Businesses that Started in a Coworking Space

7 Amazingly Successful Businesses that Started in a Coworking Space

Coworking spaces provide low-cost office space alternatives to startups who want to focus on growing their business instead of spending time and money setting up an office to keep up with their growing needs. Established businesses are using coworking spaces for remote teams and meeting spaces to save time and travel expenses. Coworking spaces offer opportunities to connect with a diverse community of business professionals in your area. The collaborative, electric atmosphere has proven to attract a growing list of startups that include these successful businesses:

  1. Instagram

    Who doesn’t use or at least know about the app that inspired the selfie, along with providing a visual platform for photographers, food and travel bloggers, as well as social influencers? After a number of preliminary ventures, in 2010, Kevin Systrom and Mike Krieger launched the wildly popular photo-sharing app. Working in a San-Francisco coworking space, the team spent eight weeks developing the app that first launched on Apple’s iOS® operating system and was sold one and a half years later to Facebook for a cool $1 billion in cash and stocks.

  2. Uber

    A year earlier, also starting out in a San Francisco coworking space, co-founders Travis Kalanick and Garrett Camp hatched an idea that would help with the horrendous taxicab problem in the San Francisco area. Their little idea, Uber, put the brakes on traditional taxicab services, opening up a convenient, affordable way to get around San Francisco.

    Operating in 633 cities worldwide, according to Market Realist.com, Uber is funded by big names, such as Google Ventures and Fidelity Ventures. Uber has also teamed up with Amazon Flex to deliver packages and now offers a service called UberEats to deliver food to hungry consumers.

  3. Spotify

    After launching in Sweden in 2006, Spotify finally launched from San Francisco’s RocketSpace in the US in 2011 after long and arduous negotiations with US record labels. The popular music streaming service has a long-term goal “to get everyone in the world to use Spotify,” Daniel Ek, Spotify’s chief executive, told the Financial Times. Spotify is now worth about $8 billion, with over 180 million active monthly users, in more than 61 countries, including 71 million who subscribe to Spotify Premium.

  4. Timehop

    Originally called 4SquareAnd7YearsAgo, Timehop was created at Foursquare’s Hackathon in February 2011. A nostalgia app for the digital age, Timehop allows Facebook users to share any previous posts and pics they’ve ever shared on Facebook. Users find Timehop a fun way to share memories and reconnect with others in their photos and posts.

    Jonathan Wegener says that the coworking space “gave him a real platform to launch from” and sees coworking spaces as technology hubs of the future. “Having an awesome home for independent workers and entrepreneurs is crucial to New York City’s goal to become a major technology hub,” Wegener said.

  5. Wanderfly

    In 2011, Christy Liu, along with three other co-founders and a small staff working at Soho’s Prospective Space in lower Manhattan, set out to create a platform she described as, “a travel inspiration site that helps people discover new experiences based on their budgets and interests.”

    Liu believed that something needed to be done about the restrictive search parameters available to travelers planning trips. She thought by working with a close-knit team and other creative types, in a shared space, her team could find a way to broaden search parameters and results in order to inspire travelers planning trips. In the space of a year after Wanderfly launched, TripAdvisor purchased the travel app for an undisclosed sum.

  6. Indiegogo

    Launched as a way to fund independent film projects at 2008’s Sundance Film Festival. Co-founder Danae Ringelmann, a Wall Street analyst, along with co-founders Eric Schell and Slava Rubin, wanted to find a way to democratize fundraising. Now, Indiegogo has raised over $800 million for 600,000 projects in some 223 countries. One of the biggest crowdfunding portals to date and a go-to portal for startups and entrepreneurs, Indiegogo supports a broad range of startups, in all phases of development, from the idea process to the marketplace.

  7. Charity: Water

    Not all coworking space members are involved in business ventures. Scott Harrison’s non-profit brainchild of an idea to supply clean water to developing countries launched in 2006 in a New York coworking hub. Since then, Charity: Water has funded over 27,000 projects, providing clean water to 84 million people around the globe. Harrison was recognized by Fortune Magazine’s 40 under 40 list, in addition to Forbes Magazines Impact 30 list. Currently a World Economic Forum Young Global Leader, you can pre-order Harrison’s new book, Thirst to support this cause.

Venture X Naples offers the space you need to bring your entrepreneurial dreams to life.  Upscale, yet affordable, Venture X Naples connects you with the resources to grow your business in a well-appointed contemporary shared office environment. Working around other like-minded professionals, you can connect and collaborate in a welcoming community with flexible monthly contracts. If motivation and productivity that leads to success is your jam, come visit Venture X Naples to schedule a tour of your new workplace. Located in the Mercato neighborhood near outstanding shopping, dining, and entertainment venues, you can also stand on Naples’ white, sandy beaches, only a matter of minutes and a short bike ride from our location. Truly motivating.