Lessons Learned from Two Years of Running a Coworking Space

As Tink Tank Campbell celebrates its second anniversary, it’s a perfect time to reflect on the journey of building and managing a coworking space. These two years have been filled with incredible moments of growth, collaboration, and creativity, but also challenges and lessons that have shaped the space into what it is today. Here’s the BTS of what we’ve learned along the way and some valuable takeaways for entrepreneurs and managers who want to build or run a successful coworking space.

?? The Power of Community Building One of the first and most important lessons we've learned is that the success of any coworking space is not just about the physical space itself, but about the community it fosters. Coworking spaces are at their best when they bring people together, providing a network that encourages collaboration, shared knowledge, and even friendships. Here are a few strategies we’ve found helpful:

• Intentional Networking Events: Regular events like casual breakfast meetups or formal workshops are important for encouraging interaction and collaboration among members. We've seen firsthand how these events spark new ideas and partnerships within our community.
• Diverse Memberships: A diverse community means a mix of industries, backgrounds, and experiences. By welcoming freelancers, entrepreneurs, startups, or even corporate teams, we've created an environment where different perspectives come together, enriching everyone’s work experience.

Building a community isn’t automatic. It requires effort, planning, and a consistent commitment to providing value to members through events, activities, and support systems that make them feel part of something bigger.

?? Flexibility is Essential The needs of members are always evolving, and it’s crucial to adapt quickly to stay relevant:

• Hybrid Work Models: With more people working remotely or in hybrid roles, we had to adjust our membership models to offer more flexible options, such as day passes or week passes, to accommodate the changing needs of professionals.
• Retainer Models: We also pioneered retainer models, allowing businesses and individuals to reserve space on an ongoing basis, providing consistency and flexibility while catering to a wide range of work schedules and needs.

?? Investing in a Strong Team is Key Your team will be the first point of contact for members, so it’s important that they are not only skilled but also passionate about fostering a positive work environment. Team members who are approachable, solution-oriented, and enthusiastic about coworking make a huge difference AKA Our Dream Team.

Check out this article to know more: Why the Human Touch Matters in Coworking?

Our Dream Team Lone Aggersbjerg Poornima Rajendrakumar Priscilla-Georgia Matei Tanja Renée Parker Mathis Fuhr

?? Adapting to Member Needs Requires Active Listening It’s vital to listen to your members and continuously adapt to their feedback. Whether through surveys or informal chats, we make it a point to actively seek feedback from members. This has helped us identify areas for improvement.

?? Financial Sustainability is a Balancing Act Finally, running a coworking space comes with its own set of financial challenges. Striking the balance between offering value to members and maintaining profitability can be tricky. Here’s what we’ve learned:

• Managing Costs Efficiently: One of the biggest lessons is the importance of managing overhead costs without sacrificing the quality of the space. Smart energy management, optimizing space usage, and investing in durable, high-quality furniture and equipment have helped us keep operational costs in check.
• Setting the Right Price Point: It's important to strike the right balance between affordability and sustainability. We regularly evaluate our pricing to ensure it reflects the value provided while remaining accessible to our members

Running Tink Tank Spaces over the past two years has shown us that coworking is not just about offering a workspace—it's about fostering a community, staying adaptable, and continuously providing value while balancing financial sustainability. The lessons we've learned are a solid foundation for any coworking venture. As the saying goes,

“Success is never final, and failure is never fatal—it’s the courage to continue that counts.”

Here’s to many more years of courage, collaboration, and growth at Tink Tank!

written by Poornima Rajendrakumar