+
Power of Collaboration:
Centers for Entrepreneurs
Jasper Welch, DurangoSpace
www.jasperwelch.org
+
What is going on out there?
When did the following companies get started?
FaceBook? Twitter? Apple? Starbucks? Costco? Jet Blue?
What is the
average age
of a
Fortune 500
company?
What percentage of
IBM
employees work
independently
? Remotely?
Coworking locations and spaces worldwide?
+
What is happening
in Durango?
Entrepreneurs create companies, innovate
new ideas, create jobs and diversify the local economy – Company creation = job creation
Within Durango’s economy County metrics
91% of Companies have 9 or less employees
Durango micro enterprises create 53% of
our jobs (5X as many as Stage 3+4 companies in the County)
Stage 2 companies (based in Durango, such
as Stoneage, Inc.) represent just 5.4% of companies, but they are creating 34% of the jobs!
+
Durango, Colo -Company Metrics
Source: www.youreconomy.orgDurango, CO Companies
Self Employed Stage 1: 2-9 Stage 2: 10-99 Stage 3&4: 100+
7,174 38% 56% 5.4% 0.23%
Self-Employed Stage 1: 2-9 Stage 2: 10-99 Stage 3: 100+ Stage 4: 500+
38% companies 56.3% 5.4% 0.2% 0.03% 10% of LPC jobs 42.7% 33.8% 8.1% 5.3% Most jobs per Company Stage in La Plata County (Durango area)?
A) Self-Employed: Start, support, sustain & launch
B) Stage 1: Innovation, Marketing, Financial Viability, Initial Jobs & Growth
+
What companies create jobs?
Donald Walls, PhD
6/13/2012 Jasper Welch, www.jasperwelch.org
6
Economic Development
Strategies & Options
•
Let’s look at
Option 6
–
Entrepreneur Ecosystems
–
Start-Ups & Coworking
–
Launching
Stage One Co’s to
create Stage 2 (use Incubators)
–
Focus on Stage Two (grow jobs)
–
Retain Your Stage 3 & 4 (100+)
–
Recruit
where there is a match
(best fit) with your city/town
–
Best practices & next practices
1. Do Nothing & Hope your local Economy works out. 2. Say that everything is OK, and
we’ll just let the
marketplace decide.
3. Hang on to the Companies
you have, and ignore the rest (start-ups, recruiting,
expanding, virtual)
4. Retain what you have, & try
to expand as well.
5. Big 3: Recruit, expand &
retain companies
6. Start-ups, grow Stage 2, retain key Companies,
+
Entrepreneurial Service
Providers
(Continuum of Support)
Coworking
: Support for solo, remote/virtual, location neutral
workers (who are now in home offices, coffee shops, libraries)
Incubators
: Support for
Start-ups
&
Emerging
companies (Stage
One), who are now in cheap unsupported office space
Accelerators:
Support for Technology & Quick
Launch
companies that thrive in virtual team, IT & web-based economy
Economic Development Organizations
(EDOs):
Self Employed Professionals Small Teams & Meet-Up Space Location Neutral Workers
Coworking
Business Plan Model & Start Flexible Leases, Training Support Start-Ups (Phase 1 Companies)
Business Incubation
Minimum Business Viability Equity Stake (2% to 8%) 90 Days to Demo Day!
Accelerators
Innovative
Strategies
to
Create
Jobs?
Hint
: Create
a Company!
Then Grow it!
+
Why coworking?
Why incubation?
Self-employed & independents
Flexible & accessible workspace
Daily & monthly: coworkers
Independent programming
Early start-ups, some lifestyle
Virtual & Location Neutral
Start-Ups (Stage 1 companies)
Short term leased space
Monthly & yearly: companies
Incubator directed programs
Start-ups, emerging companies
Team HDQ, Company HDQ
+
Where do coworkers come from?
Research from
www.deskmag.com
Home Office
58%
Traditional Office
22%
Remote/Virtual Office
8%
Small Shared Office
5%
Coffee Shop
4%
Library
2%
+
Five Reasons Why?
Coworking vs. Virtual
More
interaction
, less e-mail
More
sales
(other coworkers)
More
social
time, less alone time
More
economical
than traditional
(& expensive) office space
Face-to-Face
Team
Dynamics
www.dailymuse.com+
Principles of Coworking
Management
Limited Leasehold Improvements Fixed Cost Model – Rent as CoG Build Community, then add Space Business Model & Cash Flow Est Anchor Tenants & Flex Workspace Local EDO support (Membership) Downtown Space, Not Remote
Space Catalyst Space Owner
Short Term, Flexible Lease
Member Development (interaction) Monthly Recurring Revenues Key
Concierge Model of Staffing Coworking Space Owner On-Site & Coworking Technology-better than home, coffee shop Create Advisory Board to help owners Likely You’ll need to Self-Finance
+
Coworking in a smaller
community?
Community first, Space second Special Events, Training, Social Time Flexible (wheels): tables & chairs Connected - 10Mbps+ Internet Word Press updated web site Relationship w- EDO, Chamber
Why Your Community needs
Coworking?
Lessons learned at DgoSpace
Home offices are limited
Integrate “solo” entrepreneurs into the community workforce
Independents need workspace, remote workers need community Accelerated serendipity
Full Service offices are pricey for solo entrepreneurs & remote workers
+
So What Does Coworking have
to with Your EDO?
Front End of the Business & Job
Creation Process
Distributed Workers & Remote
Workers Already in EDO area
Web-Based & Cloud Technology
enabling Rise of Coworker & Quick Start Companies
Stage 2 Companies launch from
Self-Employed & Stage One companies
+
Questions &
Answers for Panel
We’ll address those once the
initial presentations are done
Jasper
+
Power of Collaboration:
Centers for Entrepreneurs
Jasper Welch, DurangoSpace
www.jasperwelch.org
