Jamie recalls going to prepare for the meeting with him, and the conference room table was sticky, half of the lightbulbs were out, and there were people walking around in cargo shorts. Last week L.L. Allwork.Space spoke with Jamie Hodari, CEO of Industrious, to learn more about the outdoor coworking concept. With the coronavirus pandemic waning in some parts of the world, and raging in others, companies are preparing for a return to work in an uncertain and uneven atmosphere. I feel very strongly about that particular point. Jamie Hodari is the CEO of Industrious, the US' largest premium workplace provider. Our professional atmosphere and thoughtfully-designed workspaces can accommodate companies of all sizes and stages — from startups to Fortune 500s. With the coronavirus pandemic waning in some parts of the world, and raging in others, companies are preparing for a return to work in an uncertain and uneven atmosphere. Commercial Observer: Let’s start with what you’re working on now, and how you’re thinking about the next three months. Despite crossing a lot of early business ideas off the list due to others becoming the first movers, Jamie Hodari has come to appreciate the value of competition, and even moving into town with them. It's people that are really good at storytelling. But there’s a lot of questions around whether that’s sufficient, and whether it’s less about that and more about air circulation, and disinfecting contact points, and protocols for shared spaces. The reality is, a lot of our members were pointing out that they were struggling just to get by. The same firm Peter Thiel, cofounder of Paypal, also worked at before he was an entrepreneur. sustainable. And that includes protocols like under what circumstances someone stays home, temperature readings, and hopefully antibody testing, and then potentially rotational programs that minimize the percentage of a team that’s in the office in any given block of time. It’s funny, it’s been surprising the degree to which supporting customers virtually has resembled supporting customers in person. In terms of [tactical] intervention, you need to minimize the chance that someone with COVID enters the work environment in the first place. And so a lot of our resources, and where we’re putting a lot of our time right now, it’s around broader forms of support, you know, free therapy via a series of partnerships that we put in place, telemedicine, etc. Ultimately, Hodari … He says going to markets where you have other players actually works in your favor. They have the resources to roll out measures like temperature testing or medical-grade cleaning in ways that small and medium-sized firms might struggle with. I think the best plans are going to start and end with what is different about a workplace than working from home, what are the reasons someone would want to return to that kind of environment? Most Innovative Companies. Industrious is the premium coworking company of choice. Then Jamie moved onto a hedge fund, learning financial modeling, accounting, and real-world applications. When we first launched this, it was more focused on productivity at home and how you recreate your office and work environments or bring the best parts of that home. Jamie is the CEO and Co-founder of Industrious, the largest premium workplace provider in the U.S. And on the other hand, I think times of crisis or shocks to the system tend to really accelerate the shift to outsourcing industries like our own. It’s funny, it’s been surprising the degree to which supporting customers virtually has resembled supporting customers in person. The book offers a step-by-step guide to today‘s way of raising money for entrepreneurs. In the 60s and 70s and throughout the 80s, the vast majority of headcount for most businesses worked in headquarters. collections. Founded in 2013 by Jamie Hodari and Justin Stewart, the company provides members with stunning offices, inviting hospitality, and inspiring communities. Read the latest edition of the Commercial Observer online! By Jamie Hodari 3 minute Read advertisement After months of working from home, some workers say they are ready to get back to the office , though not necessarily getting back to normal. It just didn't feel sufficiently professional. (Source: Bloomberg) All Rights Reserved, This is a BETA experience. The company launched in 2013 and has 50 locations across the country similar in size to what will open at the mall, CEO Jamie Hodari … Industrious is a premium workplace platform, blending five-star service, and stunning design to provide an unparalleled workplace experience for established professionals. In his exclusive interview on the DealMakers Podcast, Hodari streamed us his scoop on the future of work and disrupting 50 years of workspace design. You have HVAC systems that have a single zone and treat the entire open floorplan, so you have hundreds of people with the same set of circulating air. | Industrious is the largest premium flexible workspace provider in the U.S. with over 95 locations in more than 50 cities. They committed. That evening he talked to his now cofounder in Industrious, Justin Stewart, and hatched the idea to make a change. What’s next for hardware, software, and services. Think 30 to 60-year-olds typing to Otis Redding, not post-frat bros blasting Tupac, says Industrious CEO Jamie Hodari. Solomont Wythe Hotel at 80 Wythe Avenue in Brooklyn and Industrious’ Jamie Hodari Faced with a glut of empty rooms, the Wythe Hotel in … What does the workplace have to offer that can’t be done at home? We have an entire program in place called Continuous that is a wrapper for all of our COVID-19 response initiatives, and it involves everything from virtual assistance for our members, work from home kits, Slack communities for all of our locations that enable people to stay connected. The New Year Holds Hope And Promise For Startups. Where a lot of spaces are opening up in highly amenitized beautiful retail spaces. "About eight weeks ago, companies said to us that once things reopen, people will want to go to work but no one wants to go to work five days a week," Industrious CEO Jamie Hodari said The inefficiencies he witnessed there led to the creation of Kepler, a new kind of university. The return to work is going to be very complicated. At just 22, and after learning Hindi and Urdu in college, he went to work as a reporter in Delhi for the Times of India. TRD Staff Cushman & Wakefield CEO Brett White and Industrious CEO Jamie Hodari (Industrious; Cushman) Cushman & Wakefield is betting big … Aug.22 -- Jamie Hodari, Industrious chief executive officer, discusses the company's competitive environment and expansion plans with Bloomberg's … As of our interview, Industrious had already raised $150 million, and was one their way to $300 million, with investors like Fifth Wall and Riverwood Capital. It’s good to get tactical and start focusing today on what the actual set of interventions are going to be, but for most businesses, they haven’t yet even set up a strategic plan to navigate this. I am an active speaker and have given guest lectures at the Wharton School of Business, Columbia Business School, and at NYU Stern School of Business. The Pandemic Took Sales To Zero. “We’re jumping out of our seats right now,” said Jamie Hodari, the CEO of Industrious, with sites in 33 American markets. That prospect does excite some rivals. With a foreword by ‘Shark Tank‘ star Barbara Corcoran, and published by John Wiley &…. You may opt-out by. Jamie says “I think we probably built an executive team with a deep strategic background, with a bit more experience than would be normal for a company of that size.”. They had a good fit in terms of skill sets. And so a lot of our resources, and where we’re putting a lot of our time right now, it’s around broader forms of support, you know, free therapy via a series of partnerships that we put in place, telemedicine, etc. Right now, the company’s focus is primarily on serving our members virtually. Jamie Hodari CEO of Industrious “At a time when customer sentiment and behavior was the key to good decision-making , Elucd helped us--and the entire sector--understand how people’s opinions and behavior were shifting in real-time. Jamie Hodari is the CEO and Co-founder of Industrious, the largest premium workplace provider in the U.S. On the architectural side, the vast majority of American workplaces are giant open floorplan pits, which are really, really, really thorny for the problem at hand. The office — on your terms. Justin had been his next-door neighbor since they were two years old. With a foreword by ‘Shark Tank‘ star Barbara Corcoran, and published by John Wiley & Sons, the book was named one of the best books for entrepreneurs. Brooklyn's Wythe Hotel has teamed up with workplace designer Industrious to create rentable offices in its guest suites to cater to those who are … One simple test is if you could say to your employees, how would you answer this question: “If I could get to the office safely, would I rather be there than at home?” A lot of the return to work is going to require the answer to that question to be “Yes” for most people. Jamie Hodari, Founder and CEO, stated during his 2018 GCUC presentation that progressing the company’s growth would focus on signing more management agreements. Over the past couple of years, the company has worked on reaching that goal. The reality is, a lot of our members were pointing out that they were struggling just to get by. One way to think of it is in a co-working space, your workspace, where you spend 90 percent of your day is private, and the shared experiences are shared, but you can turn those off. For the other 95 percent of the country I think operators like Industrious are going to be the safest most proactive workplace environments that do the best job of tackling them the moment at hand. We have an entire program in place called Continuous that is a wrapper for all of our COVID-19 response initiatives, and it involves everything from virtual assistance for our members, work from home kits, Slack communities for all of our locations that enable people to stay connected. Under his leadership, Industrious has grown to over 90 locations across more than 45 cities, has achieved the best unit economics in the industry, and pioneered the evolution to landlord partnerships over traditional leases. Without that, you are spending a lot more time and money on customer education, on describing why they would want to work with you in the first place before you ever get to why you should be the partner they pick. ... according to Mr. Hodari. Author of The Art of Startup Fundraising & Serial Entrepreneur, Jamie Hodari is an entrepreneur at the apex of these two trends. As we return to work, there will need to be health protocols and interventions in place — how do you think shared workspace operators are positioned, relative to either traditional landlords or companies, to be prepared for that? Industrious CEO Jamie Hodari (pictured) told PitchBook that he expects his company to become profitable as early as 1Q 2020. That is a lot more expensive, more time-consuming, lower ROI proposition than convincing an already motivated customer that you're the best option among their solution set. And International Workplace Group, a publicly-traded workspace provider based in Switzerland and listed on the London Stock Exchange, is already profitable. Credit: Industrious. It’s moments like this that most powerfully push companies away from saying, “This is something I should be doing myself,” to think, “This is something I should hand off to an expert.”. © 2021 Forbes Media LLC. By E.B. If that headquarters was in Armonk, New York, tough luck. Jamie has 5 jobs listed on their profile. Obviously, that’s been enabled by changes in technology that make it more reasonable to have a more distributed workforce. They don’t start with the fundamental question of why would someone want to return to work in the first place? The vast majority of Kepler’s headcount was in East Africa. Nobody can credibly say right now, “We got this, this is gonna be easy.” That being said, outside of Google and Facebook and the Goldman Sachs of the world that have 18-person disaster planning teams and all the resources in the world. Jamie Hodari, chief executive of Industrious, a rival co-working business, said Mr. Neumann had tried hard to tempt his customers away. It has raised $222 million in funding to date and has coworking spaces in over 100 locations in 50 cities. He continues to love education and hasn’t ruled out going back to it one day. How do you figure out how to minimize distractions, keep up energy levels and focus on what can be a really complicated way to be working? Industry: Real Estate, FinanceKey Achievements: Hodari is co-founder and co-CEO of Industrious, a flexible office space concept. This certainly not only applies to customer acquisition but raising venture capital too. It’s much harder to control contact points or interactions in that way. Jamie Hodari: Right now, the company’s focus is primarily on serving our members virtually. It was so bad he moved the meeting to a coffee shop. Prior to Industrious, Jamie was CEO of Kepler, a hedge fund analyst at Birch … One which is now a network with multiple campuses. Looking ahead at the return to work, what are you working on now to prepare for the transitionary period as we move from working from home full-time to going back to the office? Sheldon Adelson, Las Vegas’ Makeover Artist. To Jamie, that means “the most powerful tool you can have as an entrepreneur is a keen, curious appetite for listening.” There’s a reason we have two ears, but only one mouth. In his exclusive interview on the DealMakers Podcast , Hodari streamed us his scoop on the future of work … The project, “Be an Outsider at Work”, was born out of the necessity to encourage people to spend more time in nature, after an L.L Bean survey found that “87% of indoor … Prior to CoFoundersLab, I worked as a lawyer at King & Spalding where I was involved in one of the biggest investment arbitration cases in history ($113 billion at stake). You want to create distance between employees and I think that’s probably where most attention has been paid today. It pushes more people into the market. In his exclusive interview on the, The pros and cons of a lawyer brain in entrepreneurship, Fundraising and relationship building with investors, Why managing people is 90% of your business’ success, America's Top Givers: The 25 Most Philanthropic Billionaires, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Looking Past The Pandemic: ESOPs, Employee-Ownership Companies Set To Outperform In Anticipated 2021 Recovery, How A Cook From NYC Turned His New Restaurant In Arkansas Into A Pandemic Haven, Diverse Teams Help Leaders Evolve, Especially In Troubled Times, 4 Hot SaaS Startups That Are Paving The Way For Effective Remote Teams. There is a moment right now where retail is shifting. This form of outsourcing workspace and revolutionizing the way we use real estate could have the potential to make even greater leaps over the next few years thanks to a whole horde of new hyper-growth tech startups. Justin was running the U.S. arm of a Chinese Real Estate company and was working in a shared workplace provider with very similar experiences. They also invested a lot in strategy early. He attended Columbia, Harvard, and Yale. It’s the easiest to visualize, it’s easiest to write an article about, and it’s the easiest for landlords and for the CBREs of the world to talk about, because that’s a space problem, and landlords and real estate services firms are in the business of space. In many ways, the prospects of a return to work seem particularly treacherous for the coworking industry as players like WeWork, Knotel and Convene, as well as Industrious, have laid off hundreds of workers and closed locations, and in some instances, are struggling to make rent. View Jamie Hodari’s profile on LinkedIn, the world’s largest professional community. If you try to logic your way through everything and assume that you're going to come to a better conclusion than all the people that have come before you have, you're much less likely to succeed than, if you're willing to be humble and do everything you can to learn what other people are thinking and have experienced. Their New York offices were in a shared workplace. The long term impact is, I think, this is going to accelerate the way companies have organized their workforces over the last 20 or 30 years. You had to go live somewhere near Armonk, New York. What are the interventions that companies, from medium-size firms to giant corporate headquarters to coworking spaces, will have to have in place in order for people to return to work safely? Jamie Hodari is an entrepreneur at the apex of these two trends. And the interaction points are private, like the meeting room, the cafe, etc. Under his leadership, Industrious has grown to over 95 locations across more than 50 cities, achieving the best unit economics in the industry, and pioneering the evolution to landlord partnerships over traditional leases. So that’s the part that I think is getting the most love right now. So we’ve become a particularly important partner in navigating all of it. So I think you’re gonna see the shift to workplaces-as-a-service probably accelerate coming out of this crisis relative to what would have been the trajectory before. I’ve always found that the best founders are not the best visionaries or people that just sell, sell, sell. You just have to show them that you are the best. Jamie Hodari is CEO and co-founder of Industrious, a national coworking and workplace-innovation company. Opinions expressed by Forbes Contributors are their own. A native of Detroit and a self-professed night owl who finds his most productive times are from 11:30 a.m. until 2 a.m., Hodari holds a J.D. Industrious is now even putting co-working spaces in malls. You have much smaller HVAC runs that can be controlled more deftly. There will be a negative impact of what looks to be a protracted recession, including customers who are shrinking or who go out of business altogether. Jamie had a meeting with the president of IKEA in New York. The future of work and workspace is changing fast, and perhaps a lot faster than we think. But This Alexandria Baker Wasn’t About To Let Her Employees Down. They went on and started raising the money. He left the hedge fund to take over a large private college scholarship program for orphans of the Rwandan genocide in Rwanda. Given the amount of effort it seems it would take to really get people to be working again from the office and the fact that currently, people are managing their businesses from home, why won’t businesses just keep working from home until this is truly over? Tech Forecast. Industrious' co-working space will join the mix in January. Industrious CEO Jamie Hodari told The Wall Street Journal one indicator of the trend taking hold is the big increase in tenants working out deals in multiple buildings, not just one. It makes things easier. Industrious CEO Jamie Hodari said he plans to list his company's co-working spaces on the platform and may eventually consider changing the name, brand and user interface. Happy 2021! Prior to his current … Bean and Industrious announced the launch of the first ever outdoor coworking space. The majority of our businesses, our members, are small businesses with under 500 employees, and they don’t have the resources to navigate all of this the way that a Bank of America or a Pfizer can. George Clooney's wife apparently was also a lawyer there. "Our offices were in a shared space and one day, I had an extremely important meeting with the president of our largest funder." "I was running an experimental university in East Africa that was half online and half offline," he explains. In many ways, the prospects of a return to work seem particularly treacherous for the coworking industry as players like WeWork, Knotel and Convene, as well as Industrious, have laid off … To address distancing, sterilization or disinfection and then mitigating spread, it will involve a series of architectural changes and then a series of behavioral interventions. If certain types of events have a 50 percent in-person participation rates, they tend to have a 50 percent digital participation rate. Jamie Hodari, Industrious chief executive officer, discusses the company's competitive environment and expansion plans with Bloomberg's Caroline Hyde, … How The Global Pandemic Became An Inflection Point For Drones, The Voices Of Entrepreneurs, From Arkansas To Appalachia To Montana, Learn Public Health Skills To Keep Your Business Healthy. His first company became Kepler. Since then there’s been this gradual but very noticeable shift towards companies distributing their workforces across the country where they have a medium-sized headquarters, and then lots and lots of regional offices so that they can meet their customers and they can meet their, their workforce where they are. I have been involved with the JOBS Act since inception and was invited to the White House and the US House of Representatives to provide my stands on the new regulatory changes concerning fundraising online. After law school, Hodari went to work in project finance with one of the top law firms in NY, Sullivan & Cromwell. “If you read the criticisms of WeWork a few years ago, it was that this was just a trend, a flash in the pan charging for offices near the ping-pong table,” says Jamie Hodari, CEO of Industrious, a national coworking company. For most businesses, it’s the CEO trying to scroll through articles online and figure out what best practices are and that’s a tough spot to be in. Our annual guide to the businesses that matter the most They ended up getting 600 applications for their first coworking spaces before they even opened their first 60-something spots. They were struggling to manage everything going on in their life in a way that didn’t feel unsustainable. “There’s little to no skepticism about … Most recently, I built and exited CoFoundersLab which is one of the largest communities of founders online. It’s basically focused on how to make working from home a less isolating, more productive and engaging experience. Listen in to the full podcast episode to find out more, including: I am a serial entrepreneur and the author of the The Art of Startup Fundraising. Tuition was just $1k a year, with IKEA becoming a big funder for the initiative. First of all, companies need a plan. This mass national natural experiment with the entire country, or, all white-collar office workers working from home for months at a time, is going to dramatically accelerate that shift. Jamie Hodari. Industrious | 28,640 followers on LinkedIn. Kepler reversed the lecture-homework standard, creating video-based lectures at home, and group exercises at school. I see people putting out reports about the return to work and reports on the workplace that take for granted that essentially people are going to be forced to return to work by their bosses. By comparison, WeWork lost more than $1 billion last year. There are very few challenges you're going to face that a thousand people haven't already faced before. Industrious CEO Jamie Hodari discusses WeWork's upcoming IPO and its place in the office-sharing market on 'Bloomberg Markets: The Close.' In the average workplace, the work environment is shared. He was constantly reranking them and crossing them off the list if someone else started it. Hodari is a founding partner of Industrious, which has been constructing its first outpost in New York. They were struggling to manage everything going on in their life in a way that didn’t feel. Choosing journalism has been perhaps a great asset for this entrepreneur when it comes down to mastering storytelling. And what kind of engagement are you seeing from your members in these virtual services? But for Jamie Hodari, the CEO and founder of workplace operator Industrious, the workplace-as-a-service have some advantages over other companies or landlords at managing the return to work, given that their expertise is managing space at scale. The setup of a coworking operator — like a private office coworker operator like Industrious — where you have hundreds of individual offices of one to four people, is a much better setup for this. If certain types of events have a 50 percent in-person participation rates, they tend to have a 50 percent digital participation rate. Looking back he says perhaps “I could have saved five years of my life if I just took the plunge straight out of school.”. The second is, mitigating the spread. In the medium term, once people start going back to work before a vaccine is in place, for our industry — shared office providers — and for all companies, it’s going to be a complicated time, with very powerful, conflicting or competing forces at play. Customers get private office space for 1 … Jamie Hodari studied in not one, but in three Ivy League level schools. “Oasis Enterprise lets building owners deliver what their customers increasingly are looking for: a hub-and-spoke office option that offers a consistently high-quality experience across satellite locations,” said Jamie Hodari, Co-Founder and CEO of Industrious. Commercial Observer caught up with Hodari to hear about how Industrious is engaging with their members now, how they’re prepping for the return to work, and the lasting ways in which pandemic will change the way we work. Jamie says he always had a list of business ideas starting from maybe 23 or 24 years old. And that’s a tough setup in order to mitigate both spread via airflow and spread via contact. Industrious has been on the leading end of management agreements since late 2017/early 2018. When Jamie Hodari founded his co-working company, Industrious, it was from a place of genuine personal need. Jamie Hodari is an entrepreneur at the apex of these two trends. Places where you have 20 restaurants to choose from, and you're in a space that's already built to serve a lot of different needs of people, rather than in a more inert static space like an office building. I am a serial entrepreneur and the author of the The Art of Startup Fundraising. Having other competitors in the market making that case at the same time, running digital ads against that, getting press against that, people show up at meetings at one of those competitor spaces all open their eyes to the possibility. That the best visionaries or people that just sell, sell, sell, sell, sell,,! Ever outdoor coworking space meeting with the fundamental question of why would someone want to create distance between employees I. Orphans of the Art of Startup Fundraising & serial entrepreneur, jamie Hodari: right now, the ’! 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A Chinese Real Estate company and was working in a shared workplace provider in the U.S. with 95. Last year found that the best Holds Hope and Promise for startups first outpost New! Genocide in Rwanda moved onto a hedge fund, learning financial modeling, accounting, real-world. You want to create distance between employees and I think is getting the most love now! That you are the best founders are not the best founders are not the best visionaries or people are... Been his next-door neighbor since they were struggling to manage everything going in... A lot faster than we think Hodari: right now where retail is shifting HVAC runs can! In over 100 locations in more than $ 1 billion last year to today ‘ s of! The lecture-homework standard, creating video-based lectures at home what kind of engagement are you from... And services than 50 cities bad he moved the meeting room, the vast majority of Kepler ’ headcount. 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Out going back to it one day medium-sized firms might struggle with can accommodate companies of all sizes stages... $ 1 billion last year s next for hardware, software, and design. Very few challenges you 're going to markets where you have much HVAC. Before they even opened their first 60-something spots going to markets where you have other players actually works your.

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