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The Tech Industry is Booming, Here’s How to Hire Top Talent

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According to a Tech:NYC study published in Bloomberg, New York-based tech jobs increased  30% over the past 10 years; twice the city’s economic growth in the same time period. Politicians are funding major Tech Accelerators and Institutions to further drive the tech boom, one of biggest initiatives being Cornell University and Technion-Israel Institute. More commonly known as Cornell-Tech, the campus opened in September 2017 on Roosevelt Island with the help of a $100 million grant from the city. With the industry growing rapidly, the question is, how do you choose the right talent for your company. Below are the top five questions  Inc. lists as the “must ask”.

Top 5 Interview Questions Startups should ask: 

1.   Tell me about a time there was no clear answer to a project. What did you do? How did you move forward?Startups succeed when comprised of an enterprising team, a team that thrives on the challenge of brainstorming, analyzing, testing, refining. Look for resourceful, action-oriented talent. Candidates that are comfortable with building as they go.

2.   Tell me about a time when you worked in a fast-changing environment. What did you do when priorities shifted? Since the nature of a startup is to disrupt an industry, there will not always be a clear plan for how; it will take some trial and error. Entrepreneurs that are  agile and react quickly are great hires.

3.   Tell me about a time you were given constructive feedback. How did you respond? Feedback is pivotal for any job – there’s a reason professional athletes spend hours watching Game Day tapes; it’s important for personal growth to learn from any mistakes or to recreate any good plays. Employees that do well with honest, transparent feedback as part of the constant learning process are the best employees.

4.   Tell me about the last time your day ended before you were able to get everything done. This is a clever way of asking if the prospective hire will be okay working long hours. Of course, determine what your company culture is before asking this question – is it an occasional late night or two, or is your company a 24/7 type culture? You’ll also learn insights into the candidate’s soft skills; how do they communicate if their workload is too much or if the deadline will not be met.

5.   Tell me about a time you had to raise an uncomfortable issue with another employee. Then tell me about a time you praised a coworker. What did you do? Culture is extremely important. Particularly when hiring for a team that works closely together, and on challenging projects, which is pretty much how every startup operates. “In a challenging environment like a startup, people tend to be closer-knit and form tighter bonds. The best startup teams support each other, embrace a common purpose, feel that they are in it together… and in the process, transform what was a collection of individuals into a real team.”

Once the talent is hired, the next step is retention. The office environment is frequently cited as a big factor in retention.  According to Business.com, 74% of coworkers are more productive in a coworking space. In our coworking space, we definitely see that productivity is the norm.  Most of our members are so productive that they achieve work/life balance, leaving the office by 6pm, and throughout the day they make the startup life look effortless and fun.

Workville’s office design and personal, hospitality approach to helping members leads to productivity. This is a primary reason Workville has a high membership retention rate, 95% of our member companies stay with us, with the 5% moving out largely because of location change to a new city or because they are moving into an accelerator program. The member companies themselves have high retention rates too. Member companies often feature Workville in promotional videos for employee prospecting, as a showcase of the happy, productive, inspiring culture.

The Workville team loves supporting our scaling member companies. Contact info@workvillenyc.com to learn more about our member retention rate and the best practices our members use to successfully hire and retain leading talent.

Workville Coworking Space Member Company in Conference Room

Entrepreneurs Can Learn From Facebook’s Mistakes

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Mark Zuckerburg’s Congressional hearings, the power of Facebook as an advertising vehicle, the affect Facebook had on national elections…there is so much to digest when it comes to the news about Facebook. It’s only a matter of time before business schools write “mandatory reading” case studies, and Aaron Sorkin produces the sequel to The Social Network.

The Workville team is paying close attention to it all. We decided to break down Facebook’s rise and mistakes from our own angle. What are the key lessons entrepreneurs should learn from Facebook’s mistakes? 

Aaron Sorkin The Social Network movie poster image about Facebook

Founded in 2004, Facebook’s mission statement was to make the world more open and connected. Facebook now has more than 2 billion active users internationally. Mark Zuckerburg pioneered the social media industry and with it, the advent of targeted advertising algorithms. Facebook has since skyrocketed from a social network to internet dominance. Meanwhile, Facebook made the same mistakes repeatedly but never implemented a system of checks and balances. Repeated mistakes become monumental errors, which they are now facing in court. Here is a timeline of their biggest mistakes, and how it all adds up:

2004: Facebook establishes the mission statement “Facebook’s mission is to give people the power to share and make the world more open and connected.”

The Problem: As summarized by Tech Crunch, this mission statement  “had one fundamental flaw: it didn’t push for any specific positive outcome from more connection. Technically, it could encompass digital voyeurism via the News Feed, trading in-person friendship for online acquaintanceship or the filter bubbles and echospheres that have further polarized the United States.”

2007: Facebook introduced the tracking program Beacon, an innovative way to use their technology across websites. This enabled fifty Million Facebook users’ activities to be tracked on other websites (Travelocity, Fandango, The Knot, Overstock.com, and so on). Users purchasing behavior was then posted on their Facebook newsfeed.

The Problem: Beacon tracked behavior without clearly asking for user approval This violated Facebook’s terms and conditions, and basic consumer privacy. So much for that surprise vacation booked on Travelocity or that surprise birthday gift purchased from Overstock.com…

Facebook apologized for the release and recalled Beacon.

2008: OpenID is introduced, enabling users to sign into other sites with Facebook credentials. OpenID is so user-friendly that it became hugely popular, helping skyrocket Facebook’s internet dominance.

With the success of OpenID, Facebook decided to also make the “like” button available on other sites. The “like” button is twofold, it’s fun and it tracks individual browsing history across these sites. Even for non-Facebook users.

Next, a year after OpenID’s successfully launch, Facebook added another update in which users profiles were public by default, and could be searched by anyone.

The Problem: Behavior tracking and making private profiles public violates privacy. In 2012 Facebook settled with the FTC, implementing a privacy policy which a) asks users permission before broadly sharing their information and b)enforces third-party privacy audits for a duration of 20-years. The regular audits were put into effect to prevent Facebook’s habit of “share first, ask later”.

2013: 6 million Facebook users had their contact information, including phone numbers and emails, inadvertently exposed. Even non-Facebook users had their contact information exposed if it had been listed in their friends’ contact information.

Facebook issued an explanation; they experienced a bug that led to the data breach. Here is a snippet of their response: “It’s likely that anyone who saw this is not a stranger to you.”

The Problem: Users did not know that Facebook inadvertently stored contact information they shared with other websites. More importantly though, once the mistake happened, the response was remarkably pragmatic and unapologetic.

To take a page from Elon Musk’s recent tweet about Tesla errors. “Yes, excessive automation at Tesla was a mistake. To be precise, my mistake. Humans are underrated.” Or in the case of Facebook, excessive innovation without consideration is a mistake. Empathy is underrated.

2016: Facebook miscalculated performance metrics of the videos published on their platform, inflating the average amount of time videos were viewed.

Facebook Advertising dollar graph

https://techcrunch.com/2018/04/25/facebook-q1-2018-earnings/

The Problem: In 2015, Facebook announced that they made-up 19% of the $70 billion mobile advertising spend worldwide. This means 19% of the market reviewed inflated metrics, resulting in skewed analytics, decision-making, and ad-spends.

2017: Facebook discovered tens of thousands of fake accounts created on their platform. Facebook introduced a news feed for publishers, but through this feed viral fake news spread faster than real news. Facebook sold users data, without consent, to the political data firm Cambridge Analytica, which was then used to create targeted political ads.

Whoa. 2017 is one big problem year.

Problem #1: Fake People. Facebook deletes tens of thousands fake accounts that were inflating the number of “likes” on news outlets. This was determined during the run-up national elections in France and Germany.

Similarly, in the US, Facebook nixes millions of fake “likes” and followers that targeted news outlets. USA Today alone lost nearly six million overnight. The FBI is now involved in identifying the source of fake accounts, and the spam purpose behind these accounts.

Problem #2: Fake News. Facebook rolls out a new feature; publishing news stories. The sources though are not vetted – fake election news stories outperformed real ones. Many of the viral fake election stories were run out of Russia.

Facebook revealed that during the U.S. presidential campaign, it unwittingly sold about $100,000 of ads to fake accounts linked to Russia. The ads were estimated to have reached as many as 126 million people. In response, Facebook rolled out a tool to allow users to check who’s behind the ads.

Facebook fake news line graph

Problem #3: Cambridge Analytica acquired data on 50 million Facebook members. The data was subsequently used to develop “psychographic” profiles, and create targeted political campaigns, which were used in the U.S. presidential campaign.

In the acquisition of detailed data by Cambridge Analytica, privacy policies are once again violated.  Facebook did not properly vet the data deal and the integrity of their new partner company.

In sum, the leadership and technology mistakes made by a young company were never corrected, and so, the molehill grew into the mountain. Now, Facebook is on trial for what can be summed as astronomical negligence at the cost of users privacy, advertisers dollars, and national elections.

Taking the entrepreneurial perspective – course correcting internal processes while simultaneously scaling new technology from startup to unicorn, well, that is a hefty challenge. Therefore, the biggest takeaway for entrepreneurs is simple: do not wait until unicorn status; learn and improve as you go so that challenges and changes are surmountable. Build your company with the most important foundation of all, integrity.

For Facebook, this means the lessons they should have learned are to invite users to have a say in major upgrades/platform changes, create internal checks and balances, vet partner companies, and act with integrity. 

Here’s the Workville commitment to our coworking members:

  1. Major updates and upgrades are member-approved. We run big decisions by our members first.

In the example of Facebook, surely someone would have said “bad idea” if they had run Beacon tracking by anyone outside of their internal team.

  1. Integrity is more important than the rush to market.

Facebook was a young company when they introduced Beacon technology. Rather than learning from the mistake though, they did it again. Introducing the “like” button across sites was a similar violation of member privacy. This rush to market, aka do first and ask later,  exploits implicit trust between customers and company.

3. Act with empathy. This is a big one for Workville.

We add improvements to the member experience by first asking what they want, and then backing into the “how can we make this happen”.

Data guides decisions, but we also take the time to listen. Too much data creates a disconnect between what the member is actually feeling and why. Data can also be skewed by unreliable sources (or in the extreme version of Facebook – skewed, unqualified, and even fake sources.)

With the launch of OpenId Facebook had the capability to make private profiles public, but that doesn’t mean anyone liked it or wanted it.

Mistakes happen, but what happens next is character defining. For us, it’s important to acknowledge, apologize, and course correct.

In Facebook’s case in which 60 million phone numbers being inadvertently revealed, a proper apology is due. Saks Fifth Avenue exemplifies how to act on a proper apology when a mistake does happen.

4. Commitment to the member experience.

This means we vet every partner company to ensure they align with the Workville mission.

Every decision remains steadfastly centered around our goal of creating a happy, productive, workspace for New York City’s thought leaders.

Email info@workvillenyc.com to learn more about Workville’s commitment to their members.

Workville NYC Coworking Space entpreneurs

Fortune 500 companies embrace Coworking

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Coworking has achieved a new level of disruption to the commercial real estate industry.

According to a Q3 Occupier Survey published by brokerage firm CBRE, 44% of corporations use a form of flexible office space solutions. Brokerage firm JLL projects that by 2020, 30% of all office space will feature flexible terms and open layout design. Flexible work schedules and financial incentives are spurring this change, as well as productivity advantages of working in a collaborative, innovative environment.

This is a huge evolution from when the industry began in 2008. Ten years ago coworking spaces were little-known, fledgling operations. The perception was that it was a millenial-driven trend of affordable office space for freelancers and small start-ups.

Now companies like Microsoft, IBM, and Barclays are backing incubators and leasing offices in coworking spaces. There is a clear benefit to funding incubators – it provides direct access to ideation, innovation, and talent. Coworking space offers similar benefits. Teams accustomed to internal office politics can now be immersed in the creative energy of dynamic coworking spaces, which leads to innovation and networking with leading disruptors.

The shared cost-benefit of coworking is also a driving force in its exponential growth. Shared workspace makes sense for any company entering a new market. From Fortune 500’s to startups, expansion strategies usually start with small, agile teams. Agile growth plans require flexible office space and low overhead. Brokreage firm, Colliers, sites flexible shared office space as a 25% savings on rent alone. There is, of course, the additional savings from the shared amenities.

Coworking space design is also leading innovation, with floorplans that emphasize human-centric design to generate collaboration. Or more simply, sometimes employees just want to move around during the day to keep their energy fresh and productivity levels high.

The question is – how well do corporate personalities and entrepreneurs mix together in one workspace?

Workville’s midtown coworking space bridges the gap between leading startups and corporations. Experienced entrepreneurs and founders choose the Workville shared space.

Having previously held executive-level corporate positions, or previously launched a startup that was acquired by a corporation, Workville’s members are well connected. They embrace coworking for the entrepreneurial spirit it fosters. Ideation and innovation are driven by an inherent love for problem-solving. Entrepreneurs see industry gaps and enjoy pushing the limits in order to pioneer solutions. In addition, experienced entrepreneurs understand the value of knowledge, resources, and mass market appeal that corporations offer.

Workville’s welcoming workspace fosters the synergy between growth stage startups, Fortune 500 companies, and the Venture Capitalists funding startups. Workville achieves this by maintaining the very essence of NYC’s tech scene – a shared, friendly experience with an incredibly smart, tight-knit community in which everyone’s value is appreciated.

workville nyc coworking space lounge area

Email info@workvillenyc.com to learn more about Workville’s ecosystem of industry leaders.

Coworker Lab names Workville most luxurious NYC coworking space!!

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Thank You to Coworker Lab for naming Workville one of the four most luxurious coworking spaces!!

Here is the full feature:

Best Coworking Space NYC Workville article

Workville

With dozens of coworking spaces in New York City, the local coworking competition is stiff. It’s hard to stay in business, let alone thrive. Workville seems to be doing just fine, however, with its over 300 members. It isn’t difficult to see why so many thought leaders and industry disruptors love Workville.

The coworking space has an airy environment comparable to any 5-star hotel. Moreover, its 21st floor outdoor terrace offers a spectacular view of the entire city. Working 75 meters (246 feet) above Broadway and taking in a sunset from your private balcony is sure to be one of the working highlights of your year.

Workville's NYC Coworking Space Loft Style Open Desks with offices along perimeter

Best of all, Workville’s management keeps things classy. In the New York City coworking scene, Workville is known for having some of the most hands-on and personable management. Space managers are also accommodating of the evolving needs of coworking members. Recently Workville launched a new coworking floor with offices exclusively for large teams of 8 to 25 members after repeated member requests.

The staff at Workville also help maintain a coworking atmosphere which is the perfect blend between professional and friendly. Whether it’s the sweet location on Broadway, the airy coworking environment, or a cafe lounge highlighted by white marble and sculptural lights, Workville offers NYC residents a luxurious coworking experience they won’t soon forget.

Email info@workvillenyc.com to experience the luxurious environment featured in Coworkers Lab!

Front of Workville

The Design Winning View from a Coworking Space

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Winners of 2017 Best Office Design Award have four things in common: human-centric design, flexible communal spaces, ergonomic workspaces, and natural light.

Natural light is an especially important design element. A study conducted by the Department of Neurology at Northwestern University and the School of Architecture at the University of Illinois found that the old adage about natural light is not only true, it has far-reaching effects: office workers with more natural light exposure slept longer, had better sleep quality, more physical activity, and rated a better quality of life than those with lower levels of natural light exposure.

One workspace in the Big Apple fully embraces the award-winning design approach. Enter Workville.

Workville is located smack dab in the middle of hustling, bustling midtown Manhattan, steps from Times Square, Penn Station and Grand Central this coworking space realizes that embracing a holistic approach to workplace wellbeing leads to members success. An added perk for Workville is their location high up on the 21st and 22nd floors; their space clears the lower buildings and equates to sunny, city views.

Here’s how Workville embraces award-winning design trends to create a premiere workspace:

Focus On The Human Aspect

They define human-centric approach as letting member companies maintain their own culture, while also offering vibrant, inspiring common spaces that evoke the Workville vibe of thriving professionals.

“We are committed to our member experience and to providing a thriving workspace; which we define as a happy, productive, well-designed workspace. Features include natural light, private team offices, comfortable lounge spaces to break-out into smaller meetings, outdoor workspace, and of course, ergonomic furniture. As far as our management style, we’re inspired by the experience at a Four Seasons Hotel, or a Danny Myers’ restaurant – we know all of our members and we are always here to help, but we also leave teams alone to do their thing. We foster a supportive and respectful culture,” says Sue Bernstock, President of Workville. “The bones of our space are an asset too, the 21st and 22nd floors have clear views so natural light floods in all year. The 21st Floor has 3 terraces. The 22nd Floor views look like your office is floating above midtown west.”

Strategic Lounge Spaces

Workville opts for warm and inviting lounge spaces and cozy nooks where members can connect, relax or work. This includes strategically designed breakout spaces where teams can collaborate or work independently. “There’s a great vibe here” says Gary Riger member, Founder of Bklyn Co, “where collaboration is encouraged and you feel you have the support to really grow your business. At the same time, the Workville team has ensured a culture where your personal space is valued.  It’s a really nice balance.”

It’s All In The Ergonomics and the Natural Light

Workville places their members comfort as top priority.  The floor layout emphasizes windows and lighting, and even the small details like quantity and placement of outlets and ports are ergonomically friendly. From standing desks to flexible furniture, the Workville team ensures all furniture is tested and approved by their members.

“We invite all of our members to try-out the desks and chairs we bring in to the office space during our testing phase.  These mini-focus groups, as well as individual member feedback help us to make the final decision on our furniture purchases.  We recently made a large ergonomic furniture acquisition, now furnishing our private and open spaces, based almost entirely on user-feedback” says D.J. Dashti, Workville Co-Founder.

Addressing the deeper and more subtle needs for supporting healthy, sustainable living has also been good for business.  “When members are happy, they are simply more creative and productive,” states Dashti. “They choose to stay in our space as their teams grow, often moving from open workspaces to private offices or both.  That’s the beauty of Workville, we work around our members’ needs, they don’t work around us”.

Workville Coworking Space NYC Private Office with Windows

To experience Workville’s shared office design, contact info@workvillenyc.com

Female Entrepreneur Month: Workville’s President, Sue Bernstock, Gets Candid

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Ever wonder what really goes on behind-the-scenes of a top coworking space in NYC?

In honor of Women’s Month, we’re bringing you an interview with Workville’s President, Sue Bernstock. She spills it all, including what it’s like to be a female entrepreneur working for all men, in the predominantly male tech and real estate industries.

Workville coworking space NYC

 

Q: HOW DID YOU BECOME PRESIDENT OF WORKVILLE? 

It was quite the career change!  I actually spent my 20’s working in fashion –  working in the top buying offices at Saks Fifth Avenue, and then for the vertical retailer Vince during its IPO year. Working in fashion was incredible training; I learned from the industry’s best. At some point though, I noticed how much tech was changing the world, and I wanted to be a part of the change. I took a leap of faith and quit my fashion job.

In order to learn new skills, I accepted consulting jobs in new industries and took a lot of tech-based classes. One serendipitous day I literally wandered into a construction site at 1412 Broadway, 21st Floor.

The guy giving the tour had this really great energy, so I blurted out “I would like to work here!” and said a few quick points proving my credentials. At the time I didn’t realize I was speaking with the co-founder, DJ Dashti. Next thing I knew, I was meeting with his eight business partners. Eight thank you notes later, I was hired!

Q: WORKVILLE IS KNOWN AS THE PREMIER COWORKING SPACE FOR GROWTH STAGE STARTUPS. HOW DID YOU ESTABLISH THIS NICHE? 

The niche found us. Growth stage companies thrive in our sunny, modern, chic workspace. They also like our layout which features team offices and plenty of lounge space to spread out.

Founders of our member companies are experienced entrepreneurs. They love the energy of coworking with like-minded thought leaders.

Our central location is an easy commute, so it’s easy for these companies to attract talent and to host clients from all over. Well, we also have the added bonus that we’re a central location with three terraces.

Women entrepreneur in coworking space cafe

Sue chatting with members during Workville’s Holiday Party.

Q: WHAT IS IT LIKE WORKING WITH ALL MEN?

It’s a great team – and that’s important. The partners are experts in Real Estate; each one has a diverse set of skills. That means I have a strong support system guiding me to achieve excellence.

DJ, the co-founder, is my biggest advocate. We do see some things differently, and I do attribute some of that to male vs female…especially when it comes to the smaller details like food, presentation, chic signage…

Whether it be a female dominated industry (like fashion) or male-dominated industry, I believe the most important factors are simply “Who is in my corner? How much can I learn? How much can I contribute?”

 

Q: WHAT IS THE DAY-TO-DAY OPERATING EXPERIENCE LIKE? 

Exciting! There is this crazy hum of productivity at Workville. You can just feel the energy of people creating all around you. Workville’s coworking space is like being in a spy movie it’s so exciting.

My favorite part of working around so many disruptors and thought leaders is sourcing solutions for them. I strive to stay ahead of their needs, to create a really seamless, forward-thinking experience.

women entrepreneur in NYC coworking space office Q: BEST MEMBER STORY? 

Oh boy. There are so many small moments each day. I love the day to day laughs with members – we have a lot of great personalities in the workspace.

My favorite thing is introducing members with compatible skills to partner together, and knowing that in any other situation they would never have met. It makes me feel like a proud Mom.

My favorite experience has been watching DropCar scale so quickly – they recently IPO’d! They are a diverse team of dedicated and ridiculously smart disruptors. I am truly in awe of their vehicle support program; what they have accomplished is no small feat. Lampix too. That’s another company that blows me away with their crypto-funded AI hardware and software.

 Q: DREAM MEMBER COMPANY?

More of the same! If I could clone our members into 1000 more companies, I would.

We look for professional, friendly, smart, experienced growth stage companies who thrive in the shared office experience.

Contact info@workvillenyc.com to learn more about Workville’s coworking space, led by Sue and DJ.

 

Manhattan Skyline night where coworking space booms

NYC has 7,500 tech companies, $38.4 billion of investments!

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According to Crain’s, New York now has 7,500 tech companies fueled by $38.4 billion of investments supported by accelerators, incubators, meet-ups, and universities – a trend we experience from the front lines here in our coworking space. The tech sector has grown 60% over the past decade, now employing 120,000 people, and the number continues to grow steadily.

The time is ripe for New York’s tech boom. A few key factors make New York’s tech eco-system particularly special.

  1. Experienced executives understand mounting challenges facing legacy companies, and are branching out on their own to fix these holes. (Jon Steinberg formally of BuzzFeed founded Cheddar, Arianna Huffington former editor and chief of Huffington Post founded Thrive Global, Marcela Sapone and Jessica Beck over-scheduled Finance execs founded Hello Alfred, and the list keeps going.)
  2. Startup founders tend to be second generation entrepreneurs, which equates to fostering an effective, professional, culture of success in the companies they found.
  3. Silicon Valley entrepreneurs are coming home, creating a powerful Silicon Alley. Our friends over at Grand Central Tech summarized the migration back east by highlighting NYC’s diverse industries and culture: ” ‘In San Francisco, tech is the only conversation,’ said Matt Harrigan, who runs a no-equity accelerator called Grand Central Tech. ‘The richness and vibrancy of New York is calling to people.’ “
  4. New York entrepreneurs scale together, it’s a shared experience and tight-knit community where everyone’s value is appreciated. “Venture capitalists, founders and employees describe the New York tech culture as inclusive and tight-knit, perhaps because tech feels like the underdog twice over…They value me here.”
  5. The focus is on building great products, rather than worrying about IPOs and garnering media attention. Many experienced executives and second generation entrepreneurs know the pitfalls of focusing on Wall Street and shareholders rather than focusing on what really matters, what drives the bottom line: great product plus staying ahead of customer needs. “ ‘Some people say IPOs are not as important for New York tech companies. Because they pioneer new ways of doing business, they say, they will eventually be acquired by legacy companies at sky-high prices. [For example] Earlier this month pharmaceutical giant Roche paid $1.9 billion for complete ownership of Flatiron Health, whose technology could transform how doctors treat cancer. The total value of the agreement was $2.1 billion.’ ”

Our coworking space is part of this tech eco-system, home to experienced executives and second generation entrepreneurs. We scale with our members in what we term “shared growth”, which is the same philosophy as the NY tech scene.  As our growth stage startups expand quickly, we have the agility to expand with them – building larger offices, installing servers plus additional networking for them, helping onboard their new hires, and so on.

Similar to our talented members who are committed to developing the best of their industry (rather than focusing on media attention, short-term shareholder goals, and so on), we are steadfastly committed to ensuring each and every member has a productive, happy experience. Workville is in the unique situation in which our partners own the building. So, while we do receive outside offers for buyouts, expansion locations, and so on, we never let this hoopla deter us from our mission. Workville is building a special and productive shared office experience for NYC’s tech leaders.

Contact us to learn how Workville is a coworking space that supports your growth stage needs, and about the talented community, you will be working alongside. Email info@workvillenyc.com or call us at 646-982-0080.

coworking space members working in their office. talented community

Workville's shared office space

Take this Mad Lib’s Inspired Shared Office Space Quiz!

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Workville’s team is frequently asked the question, “As a company scales, should they stay in a shared office space or build-out their own office space?”

Workville's Shared Office space open desks

Our answer is simple: shared office space is to the future  what the internet was to the 90’s. Right now shared office space may feel like the wild west of Real Estate, but it will soon be the norm because it offers a flexible solution to office needs, and serves as a value-add to the everyday office experience.

Katie Couric and Bryant Gumbel circa 1994 trying to figure out what internet is and how to use the @ sign in email.

Now, office space is a serious investment and has a huge effect on a company’s productivity + bottom line, so assessing shared versus owned office space is an important question. Here at Workville, our job is to make your office life easier. This means helping you determine your company needs.

More importantly, our goal is to make decision-making more fun and less cumbersome. 🙂 What’s a better way to do that than a handy-dandy game of Mad Libs?!

Take this Mad Libs inspired quiz we created, and it will help your scaling company answer the conundrum of shared office versus own office space.

Here’s how to play: Fill in the blank by choosing an answer from the prompts listed below the blank. Ready, set, go!

 

 

 

 

 

 

 

 

 

What conclusions did you draw from your answers? Let us know if you have questions; we’ll help you assess coworking versus private office space based on your parameters!

Workville’s goal in providing shared office space is to support your everyday needs. You focus on the bottom line; we take care of the rest.

 

 

 

google office headquarters

Google Office Design is Out, Shared Office Space Design is In

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Remember when Google headquarters were the gold standard for workspace design? Change is underway again; open floorplans and playground style amenities are on their way out. Turns out workplace slides and kegs of beer are not helpful for the bottom line or for a flexible work schedule. So, with an increasing emphasis on work-life balance, the new workspace gold standard is shared office spaces with a modern, inspirational decor.

shared work space advances from Google office layout

Here’s some quick data:

68% of workers interviewed by Money Magazine say that the future of working will be flexible hours, and working remotely on scheduled days. This means the workspace needs an update – the office will feel empty if only part of a team is onsite every day!

Enter the shared office space; teammates who work on different days can simply share a desk. The benefit is efficiency of space and comadarie on the team. A shared office always has people and energy in the workspace rather than overcommitting to a large space that feels like a ghost-town – the aforementioned is key to both cost efficiency and productivity.

shared office space with modern decor

77% of people interviewed on LinkedIn said that design profoundly affects their state of mind, and art in particular increases their happiness. They favor modern industrial decor with a hybrid workspace layout. People like having a variety of spaces to work throughout the day. Large team offices foster that sense of commaderie and company culture, comfortable break-out areas are conducive for brainstorming and smaller team meetings, while private workspaces are ideal for confidential and focused meetings.

Technology is of course, a large factor driving shared office space – “it’s also influencing the footprint and construction of the areas in which we perform our work duties. As technology has shrunk and grown more mobile, it’s also shrunk our workplaces. The modern office is less likely to have large personal areas…and the workplace is becoming far less centralized — we’re having meetings all over the place now [taking] technology with us” – Forbes.

Workville members love our modern, hybrid layout. Email us to learn more about what members have to say about the benefits of Workville’s shared office space.

How Millennials Created CoWorking

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Workville coworking spaceCoworking spaces have become a big thing for ALL ages, and the first choice for many millennials.

In 2007, the United States had only 14 registered coworking spaces. The number has since skyrocketed, with over hundreds of thousands of coworking spaces opening across the globe, which equates to over 1.7 million choosing shared office spaces. With the numbers steadily increasing at a 41% compounded annual growth rate, all eyes are now on coworking. So, how did millennials kick-start this coworking trend?

  1. Choosing small enterprise or startups versus corporate – Unsure of the job market and unsatisfied with traditional job descriptions, many millennials choose startups or freelancing. Coworking spaces support their flexible lifestyle – offering cost-effective, flexible membership terms. Traditional commercial real estate leases are a daunting, long-term three – five-year commitment. Startups can scale and downsize at the drop of a hat, so the idea of a long-term commitment does not match the needs of their business model.
  2. Millenials embrace the shared economy – Shared offices are like the best of a Netflix and Uber experience: select a service plan based on your actual needs, share the cost of service with like-minded peers, in a user-friendly, comfortable environment.
  3. Networking and mentoring – Startups and small enterprises tend to be very lean, so the shared workspace is an opportunity for cross-communication and outsourcing.  Millenials also have the opportunity to interact with more seasoned professionals but without the intimidating office politics. This creates great mentor opportunities, and for seasoned professionals, a chance to connect and learn from a generation of innovative thinkers.
  4. Productivity over office politics – Coworking members enjoy a collegiate feeling in their workspace. Working around motivated, energetic people is infectious. Creativity and drive is the norm for the coworking atmosphere, which may explain why so many successful disruptors choose coworking.

coworking space trendsVisit Workvillenyc.com midtown Manhattan coworking space to experience the new way of working. Our space supports the needs of growth-stage startups and thought-leaders.

 

 

 

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