In our latest Growth in Focus interview, Bronwyn Williams talks with Paul Keursten, co-founder and CEO of Workshop17.
Offering hotdesking, offices, and podcast studios, Workshop17 is a "workspace for everyone": shared office spaces for innovators, entrepreneurs, and companies of all sizes to naturally foster collaboration. This model allows entrepreneurs and start-up businesses to grow and thrive by eliminating the overhead and administrative burden of renting office space.
In September 2019, WeWork was considering buying Workshop17 for R1 billion. But then the COVID-19 pandemic hit, and WeWork, facing its own challenges, terminated the deal.
COVID-19 also forced Workshop17 to close its offices, a pending death sentence for a company that relied on providing office space. Paul explains, "We found ourselves at home from one day to the next, all our locations closed. So, it was a crisis for our business."
So, Workshop17 restructured its business model, becoming an asset-light service and management business.
In addition, during the lockdown, Workshop17 created W17 World, an online platform to inspire its then-2 000 customers. The company also introduced 'blind dates': as Workshop17 community coordinators knew most customers personally, they set up online meetings between individuals and businesses they believed could co-create or leverage off each other.
"We thought it was very interesting if this person met that person, we would create a moment online that they could meet together."
W17 World also became an app, offering users a community database that provides a directory of skills incubated within the trusted Workshop17 environment.
Unfortunately, as many businesses can relate, Paul is concerned about state-owned logistics, particularly at ports and rail transport.
Another factor limiting economic growth is the red tape surrounding work visas for digital nomads and business permits, which can sometimes take up to five years to be processed.
"If the international people can come in quite easily and work together with local people, they can grow their business. Everyone benefits."
"I have people who are curious. So, you look for curiosity; the CV doesn't tell me much."
According to Paul, the key to growing a successful business is to focus on developing curiosity and learning abilities in employees rather than just technical skills. Paul insists employers must look beyond paper credentials when hiring and prioritise curiosity, interest, and effort.
"What people call soft skills is the hard stuff.” Paul believes entrepreneurs don’t necessarily need all the answers; they need the skills to find and connect with the right people.
Paul further highlights the importance of fostering a child's entrepreneurial spirit.
"An entrepreneurial spirit, looking for opportunities, creating solutions, that kind of mindset starts at an early age.
I think schools should be a meeting place… which is the same thing that we try for Workshop17... There's room to experiment. There's room to find your passion'".
This is why Paul is adamant about creating environments that foster "accidental meetings" and organic collaboration. It's all about understanding people’s potential beyond their current roles, says Paul.
Growth across South Africa and into Africa. Paul is confident that, despite its challenges, South Africa's combination of first-world and developing-world characteristics creates unique opportunities for innovation and growth.
And growth across South Africa and into neighbouring countries is precisely what Workspace17 is planning.
"The whole idea is to create a dense enough network to attract most of the people that could come." And with global players focusing on the United States, Europe, and Asia, Workshop17 has the space to grow.