Pro­duc­tive day at the of­fice

The Daily Telegraph - Business - - Business -

In just eight years since Adam Neu­mann and Miguel McKelvey opened their first lo­ca­tion in New York, WeWork has ex­panded to 335 of­fices in 83 cities across two dozen coun­tries.

Some 320,000 global mem­bers pay hun­dreds or thou­sands of dol­lars a month to hot-desk or host their teams in pri­vate of­fices, which has en­abled the busi­ness to achieve global rev­enues of $1.5bn (£1.2bn) in the 12 months to Septem­ber 2018.

A $4.4bn in­vest­ment by Soft­Bank last year val­ued the com­pany at $20bn. But in Novem­ber it was an­nounced that the Ja­panese multi­na­tional will pay an ad­di­tional $3bn in 2019 at $110 a share, which would value WeWork at $42bn, mak­ing it the sec­ond most valu­able start-up in the US be­hind Uber.

Com­men­ta­tors, how­ever, ques­tion the sus­tain­abil­ity of its growth, af­ter the firm said that its net losses in the nine months to Septem­ber had al­most quadru­pled from the pre­vi­ous year to $1.2bn.

Oth­ers add that it is overly ex­posed to an eco­nomic down­turn, when small com­pany res­i­dents would go bust or re­turn to work­ing from home.

at­mos­phere and res­i­dents. “Cowork­ing is bril­liant be­cause of the peo­ple who work in them, so make sure that they’re right for you.”

Kof­man’s tip is to keep ask­ing whether a space is re­ally work­ing for your en­ter­prise. “You’ll want to start do­ing things on your own terms as you grow,” he says.

A busi­ness should not find it­self co-work­ing be­yond 40 em­ploy­ees – not least be­cause a rented of­fice will prob­a­bly be cheaper, he adds.

Un­til that mile­stone, all the founders rec­om­mend co-work­ing.

“There are so many les­sons to be learnt from the way that other peo­ple run their com­pa­nies,” says Piri­ankov.

Bunkham adds: “Run­ning your own busi­ness can be lonely, so hav­ing oth­ers with whom to cel­e­brate, com­mis­er­ate and bounce ideas off is in­cred­i­bly use­ful.”

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