Why “Location, Location, Location” No Longer Works
Ian Minor, Chief Operating Office at neospace, joins Bold Founder Caleb Parker for our Season 5 Finale to discuss why hotels are poised to take market share from office buildings. They talk through 2 of the 5 pillars of Space-as-a-Service: hospitality and community, and why they will be the differentiators that will transcend the old “location, location, location” mantra. Ian shares the ingredients for success he learned from his time creating the Hoxton’s coworking brand, and he spills the beans on a new Work, Rest and Play upscale Space-as-a-Service brand in Scotland. Connect with Ian Minor on LinkedIn https://www.linkedin.com/in/ianminor/ Connect with Caleb Parker on LinkedIn https://www.linkedin.com/in/calebparker/ If you have any questions or feedback on this episode, email podcast@workbold.co Value Bombs Can the office become a place people want to go to? I believe the answer is yes, if we create experiences that support good company cultures – Caleb Parker Where you've got the 15 minutes city element, I think it works very well to combine your home life, your leisure life and your work life all in one – Ian Minor I think we will see a lot more hotels taking up elements within the office environment – Ian Minor Across our company we couldn't open up locations fast enough close to where people live, but the hotels are already there. So it just makes sense that they would be able to accommodate some of these workers – Caleb Parker It's quite clear that we need a different way of operating – Ian Minor Why should hospitality not be in the office life? Office life is part of life and I think hospitality coming into that is going to be a crucial. I think it's logical. – Ian Minor You have to become a destination experience now, people have to want to go through the commutes to get somewhere special – Ian Minor You need a hospitality team to deliver hospitality, and that's a more expensive element. So you model a staff-cost percentage against revenue of about 14-15% – Ian Minor Events sell F&B, F&B helps close deals on desks, desks sell F&B – Caleb Parker I think community is the most crucial thing – Ian Minor It's about building the workplace with the curious kind of people that want to be members – Ian Minor We are in a day in age where become a media driven, content conscious organization is important. – Caleb Parker If we attract fans as members, even if they're on flexible terms, the lifetime value of those members sticks around for a long time. – Caleb Parker How can we give employees the gift of not only a community with their own colleagues, but also a broader ecosystem? – Caleb Parker It's a dynamic multifunctional space with community at its core – Ian Minor Resources neospace website www.neo-space.com Hoxton Coworking Space workingfrom.thehoxton.com Ennismore Hospitality Property Developer www.ennismore.com Shout Outs Dave Cairns Dror Poleg Anthony Slumbers Jamie Russo Tushar Agarwal at Hubble Keith Evans Jeff Shapack John Preece at Hub Australia Simon Sinek Infinite Game: https://www.youtube.com/watch?v=3vX2iVIJMFQ About Ian Minor https://www.linkedin.com/in/ianminor/ Ian Minor is Chief Operating Officer for neospace, an upscale Space-as-a-Service brand in Aberdeen Scotland, offering a work, rest and play concept. Ian is a future of work and hospitality specialist who partners with CEOs, enterprises, and start-ups to create inspiring collaborative workspaces and hospitality operations from concept development and design through project management to operation. Committed to developing destination experiences where members can get on with the work that matters, Ian is regarded as a thought leader who develops and operates the very best of collaborative member workspaces. Sponsors Fortune Favours the Bold Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co) Future Proof Your Portfolio with NewFlex NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com) Launch Your Own Podcast A Podcast Company is the leading podcast production company for brands, organizations, institutions, individuals, and entrepreneurs. Our team sets you up with the right equipment, training, and guidance to ensure you sound amazing. (https://www.apodcastcompany.com) Subscribe to the #WorkBold Podcast https://workbold.co.uk/podcast/