De-Risking Entrepreneurship: How SpaceCadet Rethinks Commercial Space and Short-Term Renting To Enable Entrepreneurs
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Deciding to go into business is a big decision and one that involves a great deal of unknowns and high risks. At SpaceCadet, we strongly believe entrepreneurship drives essential innovation, and aim to make entrepreneurship as accessible as possible for those who choose this difficult but rewarding path.
A good deal of entrepreneurial risk for new businesses comes from lacking the proper tools and resources upfront. For entrepreneurs who don’t have ample resources, a single shot may be all they get. This means a misstep can be devastating, and result in a financial and emotional hole.
SpaceCadet’s solution – micro-renting for commercial space – provides tools and resources that reduce the risks associated with renting space for one’s business. In the following post, we delve into the SpaceCadet product to illustrate how we enable entrepreneurs and de-risk their journey.
Risks to Entrepreneurship
When it comes to a small business, getting started often means taking a lot of risks. While risks vary depending on the industry and business type, they often include the following:
- Planning for Unforeseeable
- No Differentiation
- Ignoring Customer Needs
- Financial Management
- Premature Scaling
- Poor Location
These upfront risks can be mitigated by creating a risk map (which we’ll delve into in our next post), and by finding a solid foundation on which to start.
Disrupting The Existing Model
As any business owner knows, differentiation and disruption are important. At SpaceCadet, we do things differently to enable our clients and give them a strong foundation from which to grow.
Test Ideas and Grow
By reducing the financial risk associated with renting or purchasing their first space, we allow entrepreneurs to test and grow their ideas. A micro-rental enables you to vet your business model, establish a customer base, and determine if the selected location is beneficial for business – without signing onto a long-term or financially-prohibitive contract. Micro-renting also allows businesses to scale at their own pace, and stay in control of when and how they grow.
- Sublease Extra Space
- Activate Vacant Space
We all know the old adage “time is money,” and for entrepreneurs time especially is valuable and in short supply. We aim to reduce avoidable hassles and time-sucks by simplifying and streamlining the process, so you can focus on what matters most – your business. We help streamline your deal by offering support in processing both paperwork and payments.
A Step Further: Key-Value Propositions That Mitigate Risk
We take things a step further, and at SpaceCadet our key value propositions (a key ingredient for any business) allow us to offer a unique and exceptional product. They also allow our clients to reduce the risk they take when going into business.
We implement the latest technology so you can view available spaces instantly and from the convenience of your phone. Those renting out space can leverage a unique, 3D interactive experience with VR and drones to showcase the space and increase sales. Digital tours allow you to view available commercial spaces and determine if they may be right (or wrong) instantly rather than wasting time visiting inappropriate spaces. They’re also perfect for team members in other areas needing to provide feedback or approval on a rental location. Removing the traditional, in-person meetings associated with renting increases convenience and eliminates the time needed for scheduling and other logistics.
Insurance Partner Coverage
To reduce risk and also streamline the process, we partner directly with leading insurance providers to offer comprehensive coverage. This makes things easier for you – our clients, and ensures you stay protected against unforeseen events that can be devastating to your business.
We offer a variety of spaces to meet any and every business need, whether you’re looking for a standard office to something much more unique. Our spaces are flexible, allowing you to customize the space in a way that fits your business’ unique needs. Whether you need office space, an event space, room in a warehouse, or a spot for a pop-up event, we’ve got you covered. With lots of highly-flexible options, you can make any space your own.
We offer a wide variety of flexible spaces available on demand. From a one-time rental for an event to month-to-month options, our spaces are available when you need them and – if you need space urgently – we are glad to help! Once you find the space you like, it’s quick and easy to move in – no lengthy waiting periods or hassles involved.
These are just a few of the ways SpaceCadet has designed our product around our customers and aims to reduce some of the risk associated with entrepreneurship. Keep reading for part two of our series, De-Risking Entrepreneurship, to learn how to create a risk map and mitigate your risks upfront!
Ready to find Space?
Contact us to learn how micro renting can help your business today.