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    • Hybrid Work
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    Adapt Or Die: Future-Proof Your Business With These Essential Tips

    Adapt Or Die: Future-Proof Your Business With These Essential Tips

    Adaptable Hybrid Work Approach Crucial for Employee Retention

    Adaptable Hybrid Work Approach Crucial for Employee Retention

    10 Changes Your Organization Must Make To Succeed This Year

    10 Changes Your Organization Must Make To Succeed This Year

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    Do Pay Transparency Laws Actually Matter?

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    Evaluating the Effectiveness of Hybrid Work Models and Office Reintegration

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    Establish An Effective Hybrid Work Environment In 6 Steps

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    IWG Selling The Crown Jewels? You Would Think So Judging By The Asking Price

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    The Million Dollar-Mistake Businesses In California Cannot Afford To Make: Compliance Deadline Approaching!

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    How Africa’s Economy will Harness Digital Tech in the Future of Work

  • Work-life
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    5 Reasons 15-Minute Cities Could Be The Key To Work-Life Balance

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    How To Strengthen Your Workforce: Cultivate Growth Opportunities For Women

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    Escape The Lingering Cold In These 7 Countries Perfect For Remote Work

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    Say Goodbye Comfy Pants – 9 in 10 Companies Planning RTO This Year

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    Remote Work Is Just E-Commerce Déjà Vu All Over Again

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    Four Days Is Enough

  • Tech
    What Every Business Needs to Know About Managed Development Services

    What Every Business Needs to Know About Managed Development Services

    LiquidSpace and Kadence Team Up to Revolutionize Hybrid Work

    LiquidSpace and Kadence Team Up to Revolutionize Hybrid Work

    Using IoT Tech Is Crucial For Office Planning And Employee Health

    Using IoT Tech Is Crucial For Office Planning And Employee Health

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  • Design
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    Designing with Insight and Intention: Uncovering Behavioral and Functional Needs

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    Redefining “Amenity” in the Workplace

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    How to Design for Behavior To Create a New In-Person Working Environment

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    How Physical Spaces Shape Human Relationships and Emotional Well-Being

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    Can Female-Centric Coworking Spaces Work?

    Tech Check: 5 Signs Your Coworking Space Is Due For An Upgrade

    Tech Check: 5 Signs Your Coworking Space Is Due For An Upgrade

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    Instagram GenZ

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    The Future Of Our Offices And Our Planet Hinges On The Real Estate Industry Priorities

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    JLL New Future Of Work Survey The Next Few Years Are Crucial For Commercial Real Estate (2)

    JLL’s New Future Of Work Survey: The Next Few Years Are Crucial For Commercial Real Estate

    What Is The Impact Of Hybrid Working On Space Optimization

    What Is The Impact Of Hybrid Working On Space Optimization?

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The Real Story Behind The Closing Of Work Better’s Broadway Location

byCecilia Amador de San José
July 18, 2017
in Business
Reading Time: 3 mins read
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“It was a strategic decision that will allow us to invest and grow our business and brand in  keeping with our vision.” – Harsh Mehta, CEO at Work Better, on the closing of Work Better’s Broadway location

A couple of months ago, Work Better announced that it would be closing its 1440 Broadway coworking location. The 21,000 square-foot workspace was officially closed June 30th, after 10 years in operation.

And although on the surface this might seem like bad news, Harsh Mehta, CEO of Work Better, told Allwork that the closing of the location was actually a strategic decision that will allow the coworking brand to grow more effectively.

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“Good businesses evolve and update their product offering, including pulling products or services from the market when they aren’t working any longer.” Mehta commented during a phone interview with Allwork.

“To be honest, we could have continued operating the location, but we saw an opportunity to evaluate whether this particular location was contributing to our portfolio. We realized that it really wasn’t; there wasn’t any sense in continuing to operate the location when it was no longer reflective of our brand and where we want to be in the future. Our next locations and our growth plan will be focused on larger locations – 40,000 to 70,000 square-feet with a product mix more representative of professional workers’ needs today.”

The decision came after careful conversation with Work Better members and staff. “After listening to our members, it became evident that what they would want in the future, our Broadway location would not be able to provide. So we decided to grow elsewhere.”

The decision wasn’t taken lightly, and Mehta confessed that the biggest challenge was the emotional hurdle that came with closing their long-standing location.

Looking Ahead

Though the NYC market is temporarily ‘oversupplied’, Mehta believes that there is still ample opportunity for growth in the Big Apple, especially when looking at the industry in the long-term.

“We’ve seen a lot of growth over the last few years and consolidation of the industry is on the horizon. Though if I had to guess, I would say we are still 18 to 24 months away from seeing any meaningful consolidation.”

Still, Mehta believes that operators need to start preparing themselves for stronger competition and a more mature and demanding market. Growth strategies need to be carefully planned out, and for this, Mehta recommends focusing on existing clients.

“Operators need to realize that only by securing their existing clients can they grow their business and their footprint. It’s about evolving your business, your service, and your product based on what your customers need, and not based on what other operators are doing.”

“The single-biggest opportunity for small and independent operators is differentiation via service. A trend I’ve observed with larger operators is that they keep launching new things, but they aren’t going deep with them.”

Commenting further regarding independent operators, Mehta stresses the importance of focusing on business key performance indicators and realizing that “you cannot compete against the biggest players on their turf. You have to be very specific about your unique value proposition, and you have to be really good at delivering on it.”

The lesson from Work Better is, know your value proposition, know where you want to go, and don’t be afraid to let go of the things (locations) that you believe no longer contribute to your brand identity and values.

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Tags: Coworking
Cecilia Amador de San José

Cecilia Amador de San José

Cecilia Amador de San José, Senior Associate Editor of Allwork.Space, is based from wherever her laptop is. She enjoys traveling and visiting new flexible workspaces.

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