How much is a new member worth to you?

In the last few years, I’ve been changing the way I look at money. See, you’re always going to spend money. C’est la vie. Nothing’s free in this world. But owning a business made me realize that money is a tool. One that, when used correctly, creates leverage—creates more money. As such, it’s not something you want to waste. My business spending decisions are a constant weighing of investment versus payoff... … Spending $X on a business coach is worthwhile if it helps me land one new client worth $X... Spending $X on a course is worthwhile if I learn a skill I can use to win one project worth $XAnd as a coworking space operator and a savvy businessperson, I know you go through the same process daily. Overheads are sky-high. Churn is a constant challenge. Capacity is a priority. So, when you invest in a service, it should have a pay-off. This is a conversation I frequently have with coworking operators debating whether they need my services. It’s also one that I, as a small business owner, completely understand.And my answer is always this: how much is a new member worth to you? What’s their lifetime value? And what would you be willing to spend to sign them up?Let's say...... a private office membership is worth X REVENUE per year... they stay for 2 years on average... their Lifetime Value = X REVENUE times two years... you hire a content strategist for X COST per year... they help you secure 3 private office memberships per yearIf X COST is lower than Lifetime Value times 3, then your investment has paid off big time.To see an example of successful content marketing in real life, check out this client case study I wrote.Believe me when I say that, like you, I scrutinize every dollar I invest in anything. As business owners, we need to.But as they say, if it makes dollars, it makes sense. And in my experience, the investments I’ve made in my business have paid off many times over.If you’d like to learn more about content marketing and whether it's the right choice for your coworking space, just get in touch with me today. I’m here to help out.

Join the Newsletter

Sign up for digestible tips to build your brand, make your space stand out, create word-of-mouth buzz, and attract new members.

    We won't send you spam. Unsubscribe at any time.

    Can ChatGPT find a coworking space that passes the vibe check?

    Can ChatGPT's Agent Mode recommend a coworking space based on both subjective and objective factors? If so, how can you send the right signals about your space?

    Read more

    What Rolex, Omega, and coworking have in common

    What does the coworking world have in common with Rolex and Omega watches? In one nerd's opinion, a valuable marketing lesson about understanding your audience and acting accordingly.

    Read more

    What's the true cost of outsourcing quality content?

    What's the trust cost of outsourcing quality content in the age of AI? In this article, I share my two cents on why quality still costs and why great content is worth the investment.

    Read more