The serviced office industry is built on challenging the traditional office model; continuing to redefine the boundaries of the modern workplace, by providing plug and work environments for new businesses or established multinationals expanding into new markets, especially those in pilot mode ahead of making bigger capex investments in setting up. These shared office environments focus on encouraging collaboration between entities that belong to these vibrant ecosystems. Availing to them the type of services that are standard with established corporates – featuring the latest technology for the end-users. Ultimately, enabling the entities within the ecosystem to save on costs and access unmatched convenience.
This is a fast growing industry, demand is intensifying in emerging economies; with the market leader in the business averaging 2.86 billion US dollars in annual revenue there is definitely money to be made and great impact to be exerted across the property sector. Having worked for the market leader in their overseas market, our client: the founder of the new start-up, returned home equipped with the industry’s essential tools and went on to establish his own business to service Southern Africa, pitching himself against the conglomerate across two strategic metropolitan regions.
The new shared office start-up was meeting shareholder expectations, expanding and capitalising on opportunities but unfortunately the growth pace was still a bit slow. One of the drag factors was the start-up’s preference to sell to walk-in clients, web-based enquiries and online advertising; with the occasional entry into local print ads. We were contracted by the start-up to rethink its business development strategy, sales and marketing. The brief involved: evolving the entity’s growth-trajectory by remodelling the sales approach to encompass relationship building (Joint-Ventures) and referrals based sign-ups.
We achieved this by building strategic bridges on behalf of the start-up: aligning the entity to like-minded partner entities that hosted the type of high volume traffic that the start-up needed to boast sales and revenue. By the time we handed over the project: our own revenue had doubled, a residue effect from the client’s success.