• Events
  • Marketplace
  • Resources
  • Press Releases
  • Business Directory
  • Advertise
  • About Us
  • Contact
  • Submit to Allwork.Space
Friday, February 3, 2023
Allwork.Space
The FUTURE OF WORK® since 2003
Find A Flexible Office Here
  • All Topics
    • Business
    • Biophilic Design
    • Career Growth
    • Coliving
    • Collaboration
    • Coworking
    • CRE
    • DE&I
    • Digital Nomads
    • Future of Work
    • Home Office
    • Human Resources (HR)
    • Hybrid Work
    • Investment
    • Leadership
    • Marketing
    • Mental Health
    • Mergers & Acquisitions
    • Office Furniture
    • Productivity
    • PropTech
    • Remote Work
    • Self-care
    • SMBs
    • Social Impact
    • Space-as-a-Service
    • Technology
    • Virtual Office
    • Work-life Balance
    • Workforce
    • Workplace Design
    • Workplace Wellness
  • News
  • Business
    Flexible Work and Investment in ESG are Driving Profitability for this Global Brand

    Flexible Work and Investment in ESG are Driving Profitability for this Global Brand

    Disney’s Imagination Has Failed

    Disney’s Imagination Has Failed

    Can COVID Booster Shots Save Your Business?

    Can COVID Booster Shots Save Your Business? 

    Three Culture-Building Steps To Create A World-Class Company

    Three Culture-Building Steps To Create A World-Class Company

    How To Manage Partnership Risks In The Future Of Work

    How To Manage Partnership Risks In The Future Of Work

    What It Takes To Be A Hybrid LeaderWhat It Takes To Be A Hybrid Leader

    Dr. Gleb Tsipursky CEO Of Disaster Avoidance Experts | What It Takes To Be A Hybrid Leader

    HR Leaders Share How New Salary Transparency Laws Have Changed Everything

    HR Leaders Share How New Salary Transparency Laws Have Changed Everything

    Don’t Be Adidas: Making Better Decisions Fast Is Important For Business Leadership

    Don’t Be Adidas: Making Better Decisions Fast Is Important For Business Leadership

    Are Productivity Paranoia and Lack of Trust the Real Obstacles to Hybrid and Remote Work?

    Are Productivity Paranoia And Lack Of Trust The Real Obstacles To Hybrid And Remote Work?

  • Tech
    3 Steps To Build A Three-Dimensional Hybrid Workplace

    3 Steps To Build A Three-Dimensional Hybrid Workplace

    PETER MISCOVICH

    Peter Miscovich JLL Global Future Of Work Leader | The Hybrid Workplace Evolution: Unlocking The Future Of Work

    AI Is Transforming The Future Of Industrial Work

    AI Is Transforming The Future Of Industrial Work

    Reimagining Offices for Hybrid Work

    Reimagining Offices for Hybrid Work: Frameable.com CEO on the Future of Virtual Offices

    How AI Can Help The Humans Within Human Resources

    HR Professionals Are Burned Out. Can A.I. Help?

    FOWP Adam Riggs

    Adam Riggs CEO Of Frameable | Can a Virtual Experience Really Replace the Office?

    Five Ways Tech Will Change The Ways We Work In 2023

    2023 Future Of Work Forecast: Five Ways Tech Will Change The Ways We Work In 2023

    Six Steps To Start A Coworking Center In The Metaverse

    Six Steps To Start A Coworking Center In The Metaverse

    Could Meta Be the Solution to Zoom Fatigue?

    Meta Wants To Fix Ongoing Zoom Fatigue — But You’ll Be Waiting A While

  • Marketing
    Instagram GenZ

    2023 Instagram Trends Reveal How To Market To Gen Z

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

    Want Your Coworking Newsletter to Actually Convert

    Want Your Coworking Newsletter to Actually Convert? Start by Keeping It Simple, Fun, and Consistent

    5 Pros Share How To Use Instagram To Grow Your Coworking Business

    5 Pros Share How To Use Instagram To Grow Your Coworking Business

    Want To Wow Coworking Members

    Want To “Wow” Coworking Members? It All Starts With (The Right) Insights

    6 Free, High-Quality Photo Sites To Level Up Your Marketing

    6 Free, High-Quality Photo Sites To Level Up Your Marketing

    The Creator Economy Is Dramatically Changing Marketing Practices, Here’s Why

    The Creator Economy Is Dramatically Changing Marketing Practices, Here’s Why

    Everything You Need To Know About Google My Business, And How To Ace It

    Everything You Need To Know About Google My Business, And How To Ace It

    Nothing Beats In-Person Communication, But These Online Tools Come Pretty Close

    Nothing Beats In-Person Communication, But These Online Tools Come Pretty Close

  • Design
    The Secret Formula To Determine How (And How Often) Your Employees Should Work In The Office

    The Secret Formula To Determine How (And How Often) Your Employees Should Work In The Office

    Create A Neurodiverse Friendly Office In Just One Minute

    Start Creating A Neurodiverse Friendly Office In Just One Minute

    Get Employee Buy-in To Make Office Redesigns Matter

    Get Employee Buy-in To Make Office Redesigns Matter

    How To Make Your Hybrid Office Accessible To All

    How To Make Your Hybrid Office Accessible To All

    Design Of Smart Office Spaces In The Post Pandemic World

    The Future Of Work Demands Futuristic Office Tech

    Designing Leadership Spaces for Hybrid Work

    Designing Leadership Spaces for Hybrid Work

    Resources And Tips To Harness The Power Of Interior Design For Environmental Impact — And Employee Retention

    Resources And Tips To Harness The Power Of Interior Design For Environmental Impact — And Employee Retention

    Designing Human Centric Workplaces Is Key To Hybrid Program Success

    Designing Human-Centric Workplaces Is Key To Hybrid Program Success

    2023 Future Of Work Forecast: Designing Offices For Evolving Workforce Needs

    2023 Future Of Work Forecast: Office Design Is Ever-Evolving; Here Are 5 Trends For 2023

  • Work-life
    5 Brain-Boosting Snacks To Power Your Work Day

    5 Brain-Boosting Snacks To Power Your Work Day

    City-sized Buildings Are On The Way. How Will The Line Change The Future Of Work?

    City-sized Buildings Are On The Way. How Will The Line Change The Future Of Work?

    What’s Your Job Worth In The Future Of Work?

    What’s Your Job Worth In The Future Of Work?

    3 Ways To Burn Fat At Work

    3 Ways To Burn Fat At Work

    Key

    Unlock Your Hidden Benefits

    8 Crucial Tax Filing Tips For Freelancers

    8 Crucial Tax Filing Tips For Freelancers

    Update Your Home Office For A Fresh, Focused New Year

    Update Your Home Office For A Fresh, Focused New Year

    gift ideas for digital nomads

    12 Last-Minute Gift Ideas For Digital Nomads

    A Guide For Workspace Mental Health Communication

    A Guide For Workspace Mental Health Communication

  • CRE
    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    San Francisco Skyline

    The Future of Commercial Real Estate in San Francisco Doesn’t Look Good

    3 Things CRE Players Must Do To Stay Relevant In 2023

    2023 Future Of Work Forecast: 3 Things CRE Players Must Do To Stay Relevant In 2023

    The Office Space Sector Is Projected To See A Strong Fourth Quarter In 2022

    The Office Space Sector Is Projected To See A Strong Fourth Quarter In 2022

    Meet Flex Space More Chaotic Cousin Gray Spaces

    Meet Flex Space’s More Chaotic Cousin: Gray Spaces

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

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

    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?

    What Can We Expect For The Future Of Office Occupancy?

    What Can We Expect For The Future Of Office Occupancy?

  • Coworking
    Revive Your Coworking Space With A Wellness Program

    Revive Your Coworking Space With A Wellness Program

    How To Apply For Digital Nomad Visas In 4 Idyllic Work Destinations

    How To Apply For Digital Nomad Visas In 4 Idyllic Work Destinations

    I'm an Independent Coworking Center Operator Thriving in a City with 9 WeWorks

    I’m An Independent Coworking Center Operator Thriving In A City With 9 WeWorks

    Data Tracking Software Gives Coworking Operators Competitive Advantage

    Data Tracking Software Gives Coworking Operators Competitive Advantage

    The Story Behind WeWork’s Failed Locations

    The Story Behind WeWork’s Failed Locations

    What Is An “Open” Coworking Space? 

    What is an “Open” Coworking Space?

    The Pandemic’s Lasting Impact on the Future of Coworking

    The Pandemic’s Lasting Impact on the Future of Coworking

    What Does “Community” Mean In Coworking?

    What Does “Community” Mean In Coworking? Your Answer Matters

    Is WeWork Going Bust?

    Is WeWork Going Bust?

  • Workforce
    Is Marc Benioff of Salesforce Right That You Can't Integrate Junior Staff Remotely?

    Is Marc Benioff of Salesforce Right That You Can’t Integrate Junior Staff Remotely?

    4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

    4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

    What To Do If You’ve Been Quietly Promoted

    What To Do If You’ve Been Quietly Promoted

    Nurture Skills To Retain Employees

    Nurture Skills To Retain Employees

    The Four Horsemen of the Mandated Return to Office

    The Four Horsemen of the Mandated Return to Office

    Indeed & Glassdoor Economists Predict Continued Hiring Challenges

    Indeed & Glassdoor Economists Predict Continued Hiring Challenges

    Will Remote Work Be A Mandated Right In The Future Of Work?

    Will Remote Work Be A Mandated Right In The Future Of Work?

    Why It’s Time to Retire the Term Hybrid Work

    Why It’s Time to Retire the Term “Hybrid Work”

    Reverse Mentoring: The Benefits Of Learning From Your Employees

    Reverse Mentoring: The Benefits Of Learning From Your Employees

  • Podcast
  • Subscribe
  • All Topics
    • Business
    • Biophilic Design
    • Career Growth
    • Coliving
    • Collaboration
    • Coworking
    • CRE
    • DE&I
    • Digital Nomads
    • Future of Work
    • Home Office
    • Human Resources (HR)
    • Hybrid Work
    • Investment
    • Leadership
    • Marketing
    • Mental Health
    • Mergers & Acquisitions
    • Office Furniture
    • Productivity
    • PropTech
    • Remote Work
    • Self-care
    • SMBs
    • Social Impact
    • Space-as-a-Service
    • Technology
    • Virtual Office
    • Work-life Balance
    • Workforce
    • Workplace Design
    • Workplace Wellness
  • News
  • Business
    Flexible Work and Investment in ESG are Driving Profitability for this Global Brand

    Flexible Work and Investment in ESG are Driving Profitability for this Global Brand

    Disney’s Imagination Has Failed

    Disney’s Imagination Has Failed

    Can COVID Booster Shots Save Your Business?

    Can COVID Booster Shots Save Your Business? 

    Three Culture-Building Steps To Create A World-Class Company

    Three Culture-Building Steps To Create A World-Class Company

    How To Manage Partnership Risks In The Future Of Work

    How To Manage Partnership Risks In The Future Of Work

    What It Takes To Be A Hybrid LeaderWhat It Takes To Be A Hybrid Leader

    Dr. Gleb Tsipursky CEO Of Disaster Avoidance Experts | What It Takes To Be A Hybrid Leader

    HR Leaders Share How New Salary Transparency Laws Have Changed Everything

    HR Leaders Share How New Salary Transparency Laws Have Changed Everything

    Don’t Be Adidas: Making Better Decisions Fast Is Important For Business Leadership

    Don’t Be Adidas: Making Better Decisions Fast Is Important For Business Leadership

    Are Productivity Paranoia and Lack of Trust the Real Obstacles to Hybrid and Remote Work?

    Are Productivity Paranoia And Lack Of Trust The Real Obstacles To Hybrid And Remote Work?

  • Tech
    3 Steps To Build A Three-Dimensional Hybrid Workplace

    3 Steps To Build A Three-Dimensional Hybrid Workplace

    PETER MISCOVICH

    Peter Miscovich JLL Global Future Of Work Leader | The Hybrid Workplace Evolution: Unlocking The Future Of Work

    AI Is Transforming The Future Of Industrial Work

    AI Is Transforming The Future Of Industrial Work

    Reimagining Offices for Hybrid Work

    Reimagining Offices for Hybrid Work: Frameable.com CEO on the Future of Virtual Offices

    How AI Can Help The Humans Within Human Resources

    HR Professionals Are Burned Out. Can A.I. Help?

    FOWP Adam Riggs

    Adam Riggs CEO Of Frameable | Can a Virtual Experience Really Replace the Office?

    Five Ways Tech Will Change The Ways We Work In 2023

    2023 Future Of Work Forecast: Five Ways Tech Will Change The Ways We Work In 2023

    Six Steps To Start A Coworking Center In The Metaverse

    Six Steps To Start A Coworking Center In The Metaverse

    Could Meta Be the Solution to Zoom Fatigue?

    Meta Wants To Fix Ongoing Zoom Fatigue — But You’ll Be Waiting A While

  • Marketing
    Instagram GenZ

    2023 Instagram Trends Reveal How To Market To Gen Z

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

    Want Your Coworking Newsletter to Actually Convert

    Want Your Coworking Newsletter to Actually Convert? Start by Keeping It Simple, Fun, and Consistent

    5 Pros Share How To Use Instagram To Grow Your Coworking Business

    5 Pros Share How To Use Instagram To Grow Your Coworking Business

    Want To Wow Coworking Members

    Want To “Wow” Coworking Members? It All Starts With (The Right) Insights

    6 Free, High-Quality Photo Sites To Level Up Your Marketing

    6 Free, High-Quality Photo Sites To Level Up Your Marketing

    The Creator Economy Is Dramatically Changing Marketing Practices, Here’s Why

    The Creator Economy Is Dramatically Changing Marketing Practices, Here’s Why

    Everything You Need To Know About Google My Business, And How To Ace It

    Everything You Need To Know About Google My Business, And How To Ace It

    Nothing Beats In-Person Communication, But These Online Tools Come Pretty Close

    Nothing Beats In-Person Communication, But These Online Tools Come Pretty Close

  • Design
    The Secret Formula To Determine How (And How Often) Your Employees Should Work In The Office

    The Secret Formula To Determine How (And How Often) Your Employees Should Work In The Office

    Create A Neurodiverse Friendly Office In Just One Minute

    Start Creating A Neurodiverse Friendly Office In Just One Minute

    Get Employee Buy-in To Make Office Redesigns Matter

    Get Employee Buy-in To Make Office Redesigns Matter

    How To Make Your Hybrid Office Accessible To All

    How To Make Your Hybrid Office Accessible To All

    Design Of Smart Office Spaces In The Post Pandemic World

    The Future Of Work Demands Futuristic Office Tech

    Designing Leadership Spaces for Hybrid Work

    Designing Leadership Spaces for Hybrid Work

    Resources And Tips To Harness The Power Of Interior Design For Environmental Impact — And Employee Retention

    Resources And Tips To Harness The Power Of Interior Design For Environmental Impact — And Employee Retention

    Designing Human Centric Workplaces Is Key To Hybrid Program Success

    Designing Human-Centric Workplaces Is Key To Hybrid Program Success

    2023 Future Of Work Forecast: Designing Offices For Evolving Workforce Needs

    2023 Future Of Work Forecast: Office Design Is Ever-Evolving; Here Are 5 Trends For 2023

  • Work-life
    5 Brain-Boosting Snacks To Power Your Work Day

    5 Brain-Boosting Snacks To Power Your Work Day

    City-sized Buildings Are On The Way. How Will The Line Change The Future Of Work?

    City-sized Buildings Are On The Way. How Will The Line Change The Future Of Work?

    What’s Your Job Worth In The Future Of Work?

    What’s Your Job Worth In The Future Of Work?

    3 Ways To Burn Fat At Work

    3 Ways To Burn Fat At Work

    Key

    Unlock Your Hidden Benefits

    8 Crucial Tax Filing Tips For Freelancers

    8 Crucial Tax Filing Tips For Freelancers

    Update Your Home Office For A Fresh, Focused New Year

    Update Your Home Office For A Fresh, Focused New Year

    gift ideas for digital nomads

    12 Last-Minute Gift Ideas For Digital Nomads

    A Guide For Workspace Mental Health Communication

    A Guide For Workspace Mental Health Communication

  • CRE
    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    San Francisco Skyline

    The Future of Commercial Real Estate in San Francisco Doesn’t Look Good

    3 Things CRE Players Must Do To Stay Relevant In 2023

    2023 Future Of Work Forecast: 3 Things CRE Players Must Do To Stay Relevant In 2023

    The Office Space Sector Is Projected To See A Strong Fourth Quarter In 2022

    The Office Space Sector Is Projected To See A Strong Fourth Quarter In 2022

    Meet Flex Space More Chaotic Cousin Gray Spaces

    Meet Flex Space’s More Chaotic Cousin: Gray Spaces

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

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

    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?

    What Can We Expect For The Future Of Office Occupancy?

    What Can We Expect For The Future Of Office Occupancy?

  • Coworking
    Revive Your Coworking Space With A Wellness Program

    Revive Your Coworking Space With A Wellness Program

    How To Apply For Digital Nomad Visas In 4 Idyllic Work Destinations

    How To Apply For Digital Nomad Visas In 4 Idyllic Work Destinations

    I'm an Independent Coworking Center Operator Thriving in a City with 9 WeWorks

    I’m An Independent Coworking Center Operator Thriving In A City With 9 WeWorks

    Data Tracking Software Gives Coworking Operators Competitive Advantage

    Data Tracking Software Gives Coworking Operators Competitive Advantage

    The Story Behind WeWork’s Failed Locations

    The Story Behind WeWork’s Failed Locations

    What Is An “Open” Coworking Space? 

    What is an “Open” Coworking Space?

    The Pandemic’s Lasting Impact on the Future of Coworking

    The Pandemic’s Lasting Impact on the Future of Coworking

    What Does “Community” Mean In Coworking?

    What Does “Community” Mean In Coworking? Your Answer Matters

    Is WeWork Going Bust?

    Is WeWork Going Bust?

  • Workforce
    Is Marc Benioff of Salesforce Right That You Can't Integrate Junior Staff Remotely?

    Is Marc Benioff of Salesforce Right That You Can’t Integrate Junior Staff Remotely?

    4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

    4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

    What To Do If You’ve Been Quietly Promoted

    What To Do If You’ve Been Quietly Promoted

    Nurture Skills To Retain Employees

    Nurture Skills To Retain Employees

    The Four Horsemen of the Mandated Return to Office

    The Four Horsemen of the Mandated Return to Office

    Indeed & Glassdoor Economists Predict Continued Hiring Challenges

    Indeed & Glassdoor Economists Predict Continued Hiring Challenges

    Will Remote Work Be A Mandated Right In The Future Of Work?

    Will Remote Work Be A Mandated Right In The Future Of Work?

    Why It’s Time to Retire the Term Hybrid Work

    Why It’s Time to Retire the Term “Hybrid Work”

    Reverse Mentoring: The Benefits Of Learning From Your Employees

    Reverse Mentoring: The Benefits Of Learning From Your Employees

  • Podcast
  • Subscribe
No Result
View All Result
Allwork.Space
No Result
View All Result
  • News
  • Business
  • Tech
  • Marketing
  • Design
  • Work-life
  • CRE
  • Coworking
  • Workforce
  • Podcasts
  • Subscribe
Find a remote job with Flexjobs
Home Business

Can Crowdfunding Work For A Coworking Space?

by Cat Johnson
November 8, 2017
in Business
Reading Time: 7 mins read
A A
Different Currencies Crowd Funding

Crowdsourcing a coworking space can work, but it needs to be done right.

Share on FacebookShare on TwitterShare to Network
ORND office Image Leaderboard

The most successful crowdfunding campaigns to-date include an e-paper watch, the Coolest Cooler, a travel jacket with 15 features, and the Flow Hive, which collects honey directly from your beehive.

Cool products, to be sure. We think coworking is also cool, but can crowdfunding be used for a coworking space?

The short answer is yes. Ironfire, a coworking community and planned coworking space in Long Beach, California, is currently running a crowdfunding campaign on Kickstarter.

The longer answer is that you have to do it right.

Success in New York City

In 2010, Tony Bacigalupo, founder of New Work Cities, surpassed his Kickstarter crowdfunding goal of $15,000 to create a coworking space in New York City—a space he described at the time as a “self-sustaining local community center…that will be open to startups, hackers, freelancers, students, artists and those who can work anywhere to collaborate, socialize, teach, learn, play and work.”

Bacigalupo had signed a lease on a space and launched the campaign to help pay for construction and outfitting costs. At the close of the campaign, Bacigalupo and his team had raised $17,911.

“If you do the homework and build a strong following, crowdfunding can be an amazing opportunity to capitalize, literally, on your organizing efforts,” Bacigalupo says. “If you just throw a campaign up there without getting people excited and onboard first, you’re likely to end up wasting a lot of time.”

Closing the Gap

Jerome Chang, founder of Blankspaces in Los Angeles, had a different experience in 2013 when he ran a crowdfunding campaign to open his third location. He had some of the funding for the new space, but needed to “close the gap.”

Chang chose a new crowdfunding platform because he knew the owners. He had what he describes as a decent video and decent incentives, but the campaign “went nowhere.”

“People aren’t used to crowdfunding coworking spaces,” he says.

Silver Linings

In Chang’s case, however, there was a silver lining. A member of Blankspaces saw the campaign and invested in the company with significantly more than Chang was asking for in his crowdfunding campaign.

He compares the experience to what happens on the television show Shark Tank. Companies use the show as a way to market their product to millions of viewers—not simply to secure an investment from one of the sharks. Chang points out that Ring, the company that provides home security products, turned his Shark Tank “failure” into a $28 million investment from Richard Branson. The same logic proved to be true for Chang’s crowdfunding campaign.

Failing Forward

Chang’s failed crowdfunding experience became a valuable resource for Jenny Poon, founder of CO+HOOTS, an award-winning coworking space in Phoenix, Arizona. When the rent at her original CO+HOOTS location was going to double, Poon and her team decided to move. They found a building they liked, but the owner wanted to sell the building, not lease it.

“Never in [their] wildest dreams” had they considered purchasing a building Poon explains, but they did some research and found that it was a great revenue model for them. They talked to a banker who helped them navigate the process of purchasing the building.

At the time, CO+HOOTS had already been around for seven years and had a proven business model. However, the bank loan they were offered had a higher interest rate than what they had projected and they needed $50,000 to make up the difference. They turned to crowdfunding and spoke with Chang about what he did with his campaign, what went wrong, and what he would have done differently.

CO+HOOTS ran a successful campaign, coming in several thousand dollars over the crowdfunding goal. With a background in design, marketing and communications and a husband who is a marketer, Poon already had a head start that Chang admits he lacked. She was able to create a professional marketing campaign around the CO+HOOTS crowdfunder.

“The marketing part could take people months to figure out,” Poon says, “but we’d already done it for hundreds of clients.”

Success Factors

Other factors contributing to the success of the CO+HOOTS campaign include:

  • One of the CO+HOOTS members is a crowdfunding expert who gave them advice and helped oversee the project for a percentage of what they made
  • They had a built-in team working on the campaign, including a social media professional on staff and a social media-savvy community manager
  • They had strong community relations they had built from years of supporting other businesses, city officials, nonprofits and community organizations. “We are committed to our community,” Poon says, explaining that their commitment extends to the entire Phoenix community, not just her coworking community.

Poon offers the following tips for people considering crowdfunding a coworking space:

  • Frame the campaign as something that extends into the larger community
  • Partner with local artists, designers and photographers on the incentives. This way, campaign backers get a cool piece of art from a local talent, and the creatives get their work promoted to a larger circle
  • Create incentives that people want: t-shirts, water bottles, bags, art, posters
  • Purchase incentives you can use for future promotion if you don’t use them all during the crowdfunding campaign
  • Don’t underprice valuable incentives. Poon and her team promised to make thank you videos for everyone who donated at the $250 level. They did “a ton” of videos and eventually called it quits. No one who donated at that price was upset—the incentive wasn’t why they gave at that incentive tier—they just wanted to donate. (Note: Their crowdfunding expert had warned them not to do the videos.)
  • Crowdfund outside of your member community. Find people who are interested in supporting the space as a community resource. Target organizations interested in being innovative and in supporting new businesses. Poon and her team asked a lot of corporations and people who had attended events at CO+HOOTS.
  • Have a plan for the first week, the second week, the third week, etc. Assign tasks for the different aspects of the campaign. This should all be laid out before the campaign launches.
  • Do a pre-launch. Before you publicly announce the campaign, launch it to friends and family and have them donate to it. Email people who you know will give to the campaign. This way, by the time you launch to the public, the campaign already has momentum and people are more likely to contribute.

“If it’s really early on and the campaign is already halfway there,” says Poon, “people want to be part of it.”

Don’t Start From Scratch

Bacigalupo offers the following tips from his experience funding New Work City, which was the first dedicated coworking space in New York City.

0. Don’t start from scratch.

The biggest reason for our success was the years of community building we did before launching the project. In many ways, the success of the Kickstarter was validation for the work we had done to that point, more than a successful campaign unto itself. As such, I have little experience mounting a successful Kickstarter project without the aid of a dedicated community.

1. Be extra cautious offering any prizes that don’t scale well.

Especially at the low levels, you don’t want to commit to giving away things that increase your labor as more people pledge. It’s a scary thing. Ideally, you should try to offer things that cost little or nothing and can easily be reproduced and distributed in unlimited quantities. Digital things and soft services are obviously great.

2. Only offer things that cost a tiny fraction of what people pledge, if anything.

It doesn’t make sense to offer stickers, for example, to everyone who pledges $1. It might make sense at $10.

3. Be ready to wait forever for payment…and not get as much as you thought.

Receiving payment once the campaign is over takes weeks. Kickstarter takes its cut, but you will also get some declined payments from people who pledged but then either rescinded or something went wrong with their credit card. Set expectations accordingly.

4. Your best times will be the beginning and end.

Prepare to make big pushes accordingly, and brainstorm creative ways to maintain some momentum during the middle phases.

5. Send regular updates to your pledgers.

At least once per week, let them know how things are going. These people can be your evangelists and, if properly motivated, are often in a position to easily increase their pledge amounts. People love getting updates.

6. Line up some ringers.

If you have a close personal friend who wants to pledge a large dollar amount to you (say, $500 or $1000), have them hold off until you know whether they really need to boost the Kickstarter campaign. Ideally, they could circumvent Kickstarter and give you the money directly—but if you need them to get the campaign funded, they can be at the ready.

7. Look at other successful campaigns.

I learned a ton by finding other campaigns that were similar to mine, though I couldn’t count on any of them for a comprehensive strategy.

Have you crowdfunded a coworking space or project? What was your experience?

Later Ad
Tags: CoworkingMarketing
Cat Johnson

Cat Johnson

Cat Johnson is a content strategist and creator focused on coworking and the shared workspace industry. Founder of Coworking Convos and the workspace Marketing Lab, Cat publishes the Coworking Out Loud Newsletter and hosts the Coworking Out Loud Podcast.

No Result
View All Result

How will work change in 2023?

Subscribe today to know what's changing tomorrow.

* indicates required
100% FREE. You can unsubscribe or manage your preferences at any time.
Yardi
UltraSoft June
FOWF - MR Ad Red
Top online courses in Career Development

Listen to the experts themselves

News and Features

Business

Tech

Marketing

Design

Work-life

CRE

Coworking

Workforce

Daily Digest

Podcast

Resources

Marketplace

Events

Press Releases

FlexSpace, Coworking
and Office Space

Los Angeles

New York

Chicago

Washington, D.C.

Houston

Dallas

Miami

San Francisco

Atlanta

Philadelphia

Seattle

Austin

Company

About Us

Submit to Allwork.Space

Contact

Advertise

FlexSpace

Terms Of Use

FlexSpace FAQs

Privacy Policy

Connect with Allwork.Space

Twitter

Linkedin

Facebook

Instagram

YouTube

Apple Podcasts

Spotify

Google Podcasts

©2022 Allwork.Space  l  Exploring the FUTURE OF WORK® since 2003.

No Result
View All Result
  • Daily Digest
  • Podcasts
  • Events
  • Resources
  • Marketplace
  • Business Directory
  • Subscribe
  • Advertise
  • Find Space
  • About Us
  • Submit to Allwork.Space

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00