The Rise Of The Third Space

The Rise Of The Third Space
Feb 2021 , by , in Interviews

POST LOCKDOWN THERE HAS BEEN A SURGE IN FLEXIBLE OFFICE SPACE DEMAND DUE  TO COST AFFORDABILITY, CAPITAL EXPENDITURE, AND FLEXIBILITY. SMARTWORKS  FOUNDER- NEETISH SARDA SHARES HIS VIEWS. 

HOW ARE CO-WORKING  SPACE PROVIDERS RETHINKING THEIR BUSINESS STRATEGIES?

Pandemic has accelerated the need for managed office  space providers. Premium facility  management and de-densification  have led enterprises to consider  flex operators as they have become  crucial to their return-to-work  strategy. Flexibility has become  essential for enterprises, and by the  sheer nature of flexible managed  workspace, we are poised to cater  to the demand coming in for ‘third  space’.  

WHAT ARE THE WAYS  COMPANIES ARE LOOKING  TO ATTRACT RISING, REMOTE WORKING CONSUMERS? 

The priority for every business  currently is a safe return to the  workplace to continue operations.  We foresee an amalgamation  of Work near home and remote  working concept, taking shape in  the near future. The future will be  about a holistic experience that the  workspace providers offer and will  go beyond just office spaces.  

“TECHNOLOGY  INTEGRATION WITH  WORKSPACE DESIGN  WILL CONTRIBUTE TO THE RADICAL TRANSFORMATION OF  THE WORKSPACES IN THE  YEARS TO COME. THE  FUTURE WORKSPACES  WILL BE A NETWORK  OF CONNECTED WORKPLACE   STRATEGIES, TOOLS &  TECHNOLOGIES. WITH  THE EVER-EVOLVING  EXPECTATIONS, DELIVERING AN OMNI CHANNEL CUSTOMER  EXPERIENCE WILL  BECOME A KEY PRIORITY.”

WHAT ARE THE CHALLENGES IN TERMS  OF FINDING THE RIGHT  PROPERTY AND THE RIGHT  TARGET MARKET? 

The challenges associated with finding the right commercial  property can start with identifying  and finalising the target market,  followed by the right business  property and commercial partners.  Since not all commercial properties  are advertised, one needs to work  with the right property consultants  to identify the key properties.  Location is crucial when it comes to  choosing office spaces as it should  be convenient for your clients,  partners and employees. It is vital  to look for a well-connected space,  without any delivery restrictions,  ample parking space and most  importantly, the business rates that  suit your requirements.  

HOW CAN A FLEXI-SPACE  PROVIDER CREATE ITS  NICHE AND A PLAY TO ITS  STRENGTHS? 

Flex spaces are no longer just  an option for corporations but  have become a crucial part of their  future strategy. In such a scenario,  every player must identify their  strengths and stand out to survive  in the increasingly saturated co working market. We believe the  player should believe in its product  and offerings, and the niche should  have the potential and uniqueness  to coexist in a competitive market  condition like India.  

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