How to compete with WeWork
Competing with a billion dollar company when your profits are in the thousands can be a frightening idea.
Who would have the audacity to think they could compete with such a force?
We all want to work in a place that matches the aspirational versions of ourselves. Our aspirations are—after all—tied directly to our identities as people and professionals. Your coworking space is an extension of that identity.
WeWork has a pretty distinct identity. Young, hip, passionate, whatever you want to use to describe it.
In order to compete with WeWork, you need to have an identity, too.
And in order for that identity to lead to more members, it needs to be unmistakable and aligned with the identities of your ideal members.
It needs to evoke a unique feeling, and it needs to take a hard stance.
We all make decisions based on how we self-identify. “People like me do things like this.”
It works the same with the car you drive, the clothes you wear, and the food you eat. Most of it happens without thinking and is driven by subtle emotions.
What message is WeWork conveying by announcing their 4-beer limit in their New York locations? What message does it say about its members and community?
Let me be clear that I don’t think unlimited all-day beer in a coworking space is inherently bad. That’s up to you and will depend on what your ideal members want and expect.
But having it tied to your identity sends a message. What is a benefit to some is a liability for others. You attract and repel people based on several identifying factors like this one.
So what message are you conveying to your prospects about the identity of your coworking space?
What do you believe and do uniquely that sets you apart from the rest of the crowd?
Chances are, you started the business because you saw something that others did not. You believed something a bit different. Tap into that.
In order to compete with WeWork, you need to not be just like WeWork.
“People like me work in places like this.”
What does “this” mean to your members, and are you taking that stance loudly enough?