Operating a coliving business is immensely valuable to me and all those involved and this article will help you understand why.
For me, the business is valuable in several ways.
- Lower cost of living
- Good environment
The last thing is so valuable to some people that they are willing to pay lots of money for that. They’re even willing to sacrifice other things for that. Taking responsibility and providing this service has brought me and my clients many benefits.
Let’s talk about what it means to have a good environment. Everyone has their own perspective, so here’s mine.
A good environment encourages one to take positive action. It minimizes negative stimuli while maximizing positive impact. A stoic philosophy is taken to maintain this valuable asset.
Having consistent exposure to an optimum environment will increase the chances that you will come across more opportunities. This isn’t very complicated. It comes down to who your tribe is. Who are your 5 closest people? (Tribe, Sebastian Junger)
A good coliving space will have a variety of guests. I run mine at 30%/30%/30%. Short term, medium term, long term. I do not rent out further then 3 months, I prefer monthly stays. This system filters out the low-quality people, ensuring exposure to more good quality people. It allows for a consistently diverse and fresh tribe.
A good number of my guests mention how nice it is to be around good people with one even leaving a note,“it’s all about the company”.
Of course, there’s always the chance that you’ll get some weirdos. Good thing is that if there will be a weirdo, they’ve been qualified at least a little by the filters. What are the filters you may ask?
These filters can be anything and they don’t necessarily have to be in any particular order. Some examples that I feel that make the biggest difference to me:
- Being located on the 4th floor, without an elevator
- Filters out people that are unwilling/unable to take stairs, which are likely to have other underlying problems
- Encourages daily exercise
- Taking payments through Airbnb
- Ensures trust (review system)
- Exposure to a big audience
- Allows for marketing towards your specific niche
- Renting out only a private bedroom with the rest being common areas
- Minimizes people that don’t know how to interact with other humans (the worst kind of weirdos)
- Minimizes people that lack common sense
- Provides natural daily exposure to your guests
- Ambassador online presence
- Gives a potential guest an understanding of who the ambassador is and what to expect.
- Personality. My “about me” on my site literally starts with “Ioan in Romanian, Johnny is everything you could ever want in a person.” This shows personality, eliminating people who lack a sense of humor.
- Easter eggs. My business email is firstname.lastname@example.org. 1337 is nerdy internet speak. This gives me magic internet karma points with other internet nerds.
- Presence. I carefully curate my online and offline presence.
Let’s take a look at how this pans out.
I’ve already identified my ideal market as the green clients. It is very important to understand who your clients are. I don’t want to spend time qualifying so my filters eliminate the other potential clients, which are not ideal for my type of service (blue, maroon, orange, purple).
This leaves me with just a few good quality clients, minimizing the time I spend qualifying my leads. My leads being people that I am going to live with. People that I will be spending a lot of time around and am likely to pick up on their habits just as much as they are likely to pick up on mine. Taking this into account, I accept all reservations if there is availability on the calendar.
Taking steps to create filters in my life to optimize my exposure to people has brought me immense value. Unique value is created in the presence of more individuals, bringing exponential potential for all involved. The value that I sought to bring myself is only possible in the presence of others and fortunately all participants benefit from this.
Yeah so if you find yourself face-to-face with me then you’ve been filtered.