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Insights from Great Work Presentation
Sep 11, 2024
Notes on Great Work Presentation by Nikita Yu
Introduction
Presenter:
Nikita Yu
, Chief Fitness Officer of
Great Work
Founded in
2017
Origin of idea: Difficulty in finding affordable workspaces addressing startup needs.
Needs identified:
Internet
Good work desks
Presentable office
Meeting spaces
Conference rooms
Pantry
Business Model
Great Work
stands out from other co-working spaces by offering more than just workspace.
Unique features include:
Napping houses
Shower facilities
Bike stations
Fully stocked pantry
Event spaces conducive for collaboration.
Mission Statement
Create a community for people to:
Create
Collaborate
Connect businesses for growth and profitability.
Locations
Currently operating
two branches
in Quezon City:
Quezon Avenue
Scout Rallios
Each branch tailored to a specific industry:
First branch: Formal setup (BPOs, consultancies)
Second branch: Creative sector (freelancers, marketing agencies)
Challenges and Learning
Initial challenge: Educating the market about co-working spaces in Quezon City.
Took
3-4 months
to gain traction.
Importance of maintaining a good community and listening to client needs.
Financial Overview
Great Work
has been operational for
two years
and is currently earning.
Initial rough patch due to market education on co-working concepts.
Steady growth after establishing community and client care.
Market Insights
Co-working spaces are becoming more popular but need ongoing education and awareness.
Need to target various demographics, including millennials and older generations starting new ventures.
Opportunity exists due to different business generations wanting to upgrade their environment.
Key Takeaways for Success
Understand your consumer's preferences and needs.
Provide value beyond physical space to differentiate from competitors.
Stay ahead of trends and keep educating the market regarding co-working benefits.
Questions from Nikita to Mentors
To Miko
: How to maintain market share in a competitive environment?
To Myrna
: Key points for women in business and how to inspire others.
Mentor Insights
Myrna
:
Know yourself and your market.
Have a clear vision and direction.
Miko
:
Stick to fundamentals of the business.
Ensure a conducive work environment and onboard the right people.
📄
Full transcript