Shared space business models have become the new basis of standing out from the crowd, most spaces share a similar model but individually can represent a structure unique to the businesses they serve. Niche or hybrid spaces require specialized consideration of clients and products or services. Outlining, innovating, and scaling a coworking business model is key to running a successful space.
The webinar will be a forty-five minutes in length – you can watch it now!
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Joe Payton is President at GeniusDen where he coordinates learning opportunities so members can meet with advisors, mentors, and investors with core startup knowledge. When he can, he connects GeniusDen Members to customers, vendors, and capital.
Joe is a real estate developer, serial entrepreneur and angel investor. Payton began his career selling advertising and publishing and moved into investor relations getting a graduate degree in 1994 from the University of Denver and working in-house in the mid 1990’s for Corporate Express, a startup that grew from $50M when he joined to $1B in sales through acquisition and multiple public offerings. Joe was on the core Investor Relations team for the IPO and four secondary offerings. As a real estate investor Joe began buying and selling single family homes and parlayed his capital into larger developments and then small startups of his own and as angel investor, Joe was a member of the Rockies Venture club in Denver Colorado and the Central Texas Angel Network in Austin. Nothing he invested in went “big”, but he’s seen several hundred deal pitches, run diligence on a couple of dozen investments and gotten to know the process from the Angel side as well as the IPO experience when he was in corporate.
In Dallas, Joe is focused on his business startups and real estate developments. The building at 3106 Commerce is his first purchase in Deep Ellum. “I believe in Deep Ellum neighborhood. It is very much like 4th street and 6th street in Austin and Lodo in Denver in the 1990’s. Deep Ellum is going through a renaissance. With the massive redevelopment of Main Street and Elm Street 3 blocks away, we are looking forward to dozens of new restaurants and night spots opening in the coming months. Pecan Lodge has lines out the door every day and Brain Dead Brewery is opening soon, AND we have Ellum.net – a redundant fiber optic super-high speed internet ring here.”
Selling Alaskan salmon and Himalayan rock-salt lamps didn’t work out for Lance Pinn after he graduated from Babson College in 2006, so he opened a climbing gym in Gowanus, Brooklyn, with a pair of friends. Pinn is not a climber, but his vision for a space scrawled with graffiti, packed with quirky workout gear and playing host to a steady stream of events and competitions became a sensation, with more yearly visitors—60,000—than any other climbing gym in the country.
About Brooklyn Boulders – Now Pinn has built an indoor climbing chain to push the sport into the mainstream. An investment last year from North Castle Partners, the venture-capital firm that helped build gym chain Equinox, let him plan new facilities in Denver and Los Angeles. A second New York space opened in Long Island City late last year, joining locations in Chicago and outside Boston.
The company’s rapid rise hardly seems to mirror the laid-back personality of Pinn, who grew up in Los Angeles and suburban Virginia. Pinn’s focus on creating features and events beyond climbing—a coworking space, for instance—has propelled the company’s success. He’s also developed a projection system that transforms climbing walls into life-size video games. Next up: a climbing wall inside the concrete caisson of a Hudson River pier.
Pinn says his business is valued at more than $50 million and growing. In the next five years, he hopes to hit $100 million in revenue, up from $15 million currently.