ProVision Coaching Networ Fall 2016

Shared Workspace Supporting Tenant Success

An incubator is not a building, it’s a program. So just locating in a building that calls itself an

incubator is not enough.

Contents

Page 2 Happy, Successful Tenants

Page 3 ProVision Coaching Network Solution

Page 4 Landlord Solutions

Page 4 Tenant Solutions

Page 5 Contact Us

Running a Successful Shared Workspace Running a successful shared workspace business requires more than just the provision of space, a mailing address and general business services. Successful co-working operations:

1. recruit the right mix of tenants 2. provide an appropriate level of service and 3. keep them.

Lower turnover rates in tenants mean you spend fewer resources recruiting new tenants and also have lower vacancy rates – all contributing to your profitability.

Collisions is the word we use. People of different backgrounds and purposes colliding and sharing ideas.

Incubators, accelerators and co-working spaces provide start-up firms and small businesses with an entrepreneurial environment, professional network, savvy mentors and critical resources to develop and grow successful businesses. They serve as a forum for entrepreneurial development, where new companies co-habitat in a physical space or join a virtual network to exchange ideas, access key business support services and test-drive their ideas.

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ProVision Coaching Network

Fall 2016

Successful, Happy Tenants

Tenants will leave for five main reasons:

1. They don’t like the management / landlord 2. They don’t like the other tenants 3. They aren’t getting a return on the investment 4. They re-locate their business (move to another geographic

area) 5. They out grow the space.

Two of these reasons are emotional and about relationships, communication and trust. The third reason is often the reason cited in an exit interview; however, the real reason is generally #1 or #2. They rationalize it with #3. Reasons #4 and #5 are natural reasons for a business to move to a new space. Your facility may be able to address this reasons with changes to the tenant program and tenant mix.

Design a tenant program that exceeds their expectations and WOWs them. Whether it’s access to a bookkeeping service, home baked cookies, gourmet coffee, group buying, discounts on sporting and cultural events or fundraising for a charity of choice. You can decide if you want to be the discount end of the continuum or the luxury brand. Design a WOW program accordingly.

Collisions is the word we use. People of different backgrounds and purposes

colliding and sharing ideas.

68% of Customers leave for perceived indifference (Lack of communication or processes)

14% Because of dissatisfaction 9% for competitive reasons

5% referred to a competitor by their friend

4% due to natural attrition

Shared Workspace Services At one end of the spectrum, tenants pay rent, have a place to work from and access to general office equipment. At the other end of the spectrum a full service incubator provides business development support as well as access to technology and financial support.

In the middle, programs differ greatly with a program designed to attract, develop and retain the target tenants.

ProVision Coaching Network customizes the program to meet the needs of the tenants and the

vision of the landlord.

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ProVision Coaching Network

Fall 2016

ProVision Coaching Solution

Our program provides two-tiered solution for the landlord, the tenants or both groups.

Benefits:

1. Focus on impactful activities 2. Reduced stress 3. Improved productivity 4. Accelerated growth and value 5. Rely on systems and routines

Landlords benefit from an effective strategic plan, effective policies and procedures, tenant intake process that aligns with their vision and impactful tenant program.

Tenants benefit from a peer community, an accountability partner, and access to services and expertise.

Get started on your path to success today!

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ProVision Coaching Network

Fall 2016

Landlord Solutions ProVision Coaching Network’s first tier of service supports the landlord. Services include strategic planning and business advising to supporting the selection of tenants and the design, development and evaluation of a tenant program.

1. Strategic Plan & Board (or Advisory Group) Development – Key Performance Indicators, policies & procedures, accountabilities, strategies and tactics

2. Tenant Selection – Target tenant, Optimal tenant mix, Application and selection Process 3. Tenant Program – Onboarding, Retention & Development

Tenant Solutions ProVision Coaching Network provides wrap around business support services such as bookkeeping, marketing, human resources and advising. We partner with trusted, vetted and certified business professionals, providing an integrate service package for the client. Your tenant program can select services that meet the needs of the tenants, fulfill your contractual responsibilities and work within your budget. Our CASE program includes key success factors that are customized for each client, thus ensuring a unique experience for your tenants.

ProVision Coaching Network Fall 2016

What Other Say… Laura cares deeply for the people she works with and understands the importance of relationships with all stakeholders. She is a leader of change and her insatiable thirst for knowledge is exemplified through her creative solutions to problems- problems the client might not even know they have yet. I would highly recommend Laura as she brings with her extensive experience and leaves behind a team that is more aware of the real issues, the root causes and the path that leads to a long term solution.

Shannon King, Suncor Energy

Contact Us:

ProVision Coaching Network

www.provisioncoaching.ca

Laura Bechard MBA MEd CPA-CGA

laura@provisioncoaching.ca

(403) 650-6519