Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Hugo Tylor, Co-Founder of Area Coworking, located in Madrid, Spain.
What's your business, and who are your customers?
Our business is Area Coworking, a coworking and events site in Madrid, Spain. Our customers are a mix of Spanish locals from our neighborhood, start-ups, ex-pats living in Madrid, and some digital nomads.
Tell us about yourself
My partner and I had talked for a long time about making the most of living abroad (we're British but live in Madrid) and taking advantage of the opportunities here. We came up with the idea of a coworking space after rejecting a load of other ideas and narrowing down what we thought we could offer that others maybe weren't doing so well here. And we wanted to create some kind of community in the process, so it was the best idea for us out here.
What motivates me is the people here - we've created a happy little community here of lovely people from all over the world. We always ask for feedback to constantly upgrade the experience that we offer, and they're happy to provide it!
What's your biggest accomplishment as a business owner?
Opening during the covid pandemic and surviving! We opened in 2021 when things were very difficult, and the idea of 'co' anything was not very appealing to anyone. When we opened, we struggled and weren't sure if it was because of the pandemic or of a lack of demand for what we were generally providing.
Luckily, we had some film shoots here in our first empty months that kept us afloat, and then the clients came trickling in. And when 2022 started, everything exploded here as people had more confidence and started leaving their homes.
What's one of the hardest things that comes with being a business owner?
Always being connected. Finding someone you 100% trust to delegate to so you can take time off is really hard, but in the end, essential!
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Firstly, do your research before deciding on launching anything. It may turn out there isn't the demand you thought there would be for a certain product or service, or you need to make some changes to your initial ideas.
Get ready for the long term; nothing happens overnight. Our building works took much longer than expected, for example.
Be flexible: as time passes and you encounter various challenges, you'll have to adapt!
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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