My presentation to the GCUC Canada conference on starting a coworking community.

1. Hello

2. THE FACTORY
Better together. A coworking (not co-working) space in downtown Grand
Rapids, MI designed for collaboration. In the process of coming to get work
done, independent workers, small teams and corporate groups often
stumble into unexpected conversations with one another. Serendipity,
packaged in a trendy space with comfy chairs.

9. coLEARNING
Learning together. coLearning is a facilitated and contextually based
learning environment that moves learning out of individual isolation into
building collective communities where students are challenged by
teachers, content, and peers. Beyond formal instruction, coLearners
support each other in developing diversity in thinking and build
knowledge, skills, and abilities in a given area of study.

13. ELEVATOR UP
Creating together. We are a design firm helping
companies create better products, services and overall
experiences. (Acquired in 2019)

15. 6 TYPES OF BUSINESSES
Stanford University. outlined and taught by Steve Blank

16. Lifestyle
Work to live their passion. Freelancers, Independents,
Solopreneur, etc…

17. Small Business
Work to feed families. This is the the most common type
of business.

18. Scalable
Born to be Big. Often swinging for the fences, raising
large rounds of VC capital and striving for IPO.

19. Buyable
Acquisition Targets. Building something that grows but
bypassing VC and able to walk away with millions (but
not billions).

20. Enterprise
Innovate or Evaporate. Large organizations that are
often institutions and pillars of efficiency but may have a
hard time innovating.

21. For Good
Driven to make a difference. With less focus on profits
and more on the good they are able to create in the
world. Social Innovation, Non-Profits, etc…

22. FIND YOUR COMMUNITY
You’re gonna be spending a lot of time with them.

23. Your People
Building a community isn’t just about you but feeling and
doing better things when done together.
✦ Who do I like being around?
✦ Who do I want to help?
✦ What do I share an interest in?

24. FINANCING OPTIONS
Who’s going to pay for it all - and for how long?

25. Bootstrap
One of the most common options but one of the hardest.
Requires stretching resources - both financial and
otherwise - as far as you can.

26. Customer Financing
Getting your customers to pre-buy from you in exchange
for early access, special deal(s), prestige, etc…

27. Debt
Get the money now (if you can) and pay later with
interest. Using either personal debt, business debt or
both. From bank loans, lines of credit, borrowing against
receivables, leasing options, credit cards, etc…

28. Grants
Grants are non-repayable funds or products disbursed
or given by one party (grant makers), often a
government department, corporation, foundation or
trust.

29. Investors
Getting others to invest in your future growth with the
goal of getting a good return later. Examples like
Friends, Family & Fools, Angel, Venture Capital, etc…

30. Cash
Have plenty of cash to weather the storms because
growth sucks cash. Don’t just focus on the P&L, make
sure you understand cash flow.
✦ Financial Leavers
✦ Cash Flow
✦ Accounting

31. Income Amounts (each month)
Expense Amounts (each month)
Total each
line item
Total each
line item
TOTAL of all expenses (each month)
TOTAL of all income (each month)

32. Your Power of One
Change you would
like to make
Annual Impact on
Cash Flow $
Impact on
EBIT $
Price Increase % %
Volume Increase % %
COGS Reduction % %
Overheads Reduction % %
Reduction in Debtors Days day(s)
Reduction in Stock Days day(s)
Increase in Creditors Days day(s)
Your Power of One Impact
You can increase the price of your goods & services
You can sell more units at the same price
You can reduce the price you pay for your materials / labor.
(Operating Expenses) You can reduce your costs.
(Accounts Receivable) You can collect $$ faster.
(Inventory) You can reduce the amount of stock on hand.
(Accounts payable) You can slow down payments.
7 main financial levers

33. GET ORGANIZED
Tighten up your execution habits and stop relying on the “heroics” of you
and your team.

34. Identify Processes
Identify 4 to 9 processes that drive your business and
focus on making those better, faster or cheaper to
deliver.
✦ Tours
✦ On-boarding & Off-boarding
✦ Billings (1st of the month, prorations, snacks)
✦ Phone & Email Inquiries
✦ Social Media Engagement
✦ Member Animation
✦ Community Outreach

35. Write it down
Take time to write down how you do things and where
you put things. This will allow others to keep the same
quality while also letting them find ways to refine your
practices over time and share with others.

47. Scaling Up
Free your time to focus on the important activities
necessary to grow your business while getting everyone
aligned to execute your plan.
✦ People
✦ Strategy
✦ Execution
✦ Cash

49. MANAGING YOURSELF
You can’t always put yourself last.

50. Take Care
Having a strong and fulfilling personal life provides an
important foundation for sustaining your efforts in the
business.
✦ Finances
✦ Fitness
✦ Friends
✦ Family
✦ Faith

51. THANK YOU!
aaron@workthefactory.com
@schaapy