Two ARE better than one: the Benefits of Shared Space

By Lisa Marie Blinn, PWP™, L. Marie Events, Locust Valley, N.Y.Timing is everything. This was just the case when John Goolsby of Godfather Films and I decided on sharing an office in New York. Here are a few things we learned along the way.Find the right partnerThe most important thing for me, was that I was connecting my business to someone who shared my work ethic, commitment to providing clients with great service, and passion for the industry. Having known John throughout the years through the Association of Bridal Consultants, and knowing his role in the organization, my initial thought was that it would work out well. John had his own requirements in an office partner. “For me, based on past experiences, I knew it was crucial to share a space with someone you trust and respect,” he says. “You need to know that you are working with someone who will be honest and responsible in business dealings. I was also aware that when you connect your business with another’s, their image reflects on yours. I never have to worry about a client getting a bad first impression if they are greeted by Lisa Marie in my absence.”Create an impression with the right spaceOnce you find the right partner, taking the time to find the perfect space is worth it. In our case, we looked at a number of spaces that just didn’t feel like the right fit for what we wanted to create—a functional, yet inviting space that would allow our clients to feel at home when they walked through our doors. The search was a little discouraging. Finally, we stumbled upon the Locust Valley office, and everything, from the date of availability to the proximity to the train station to the layout of the space, was exactly what we wanted.Shared space = shared expensesSharing office space with another business or entrepreneur is not something to take lightly. While there are many benefits to partnering with another professional, there are also risks. Immediately, we knew that sharing the expenses, and there were quite a few, was one of the greatest benefits to shared space. That means more money for working capital and more take home pay. However, it also means that if one of the companies runs into financial trouble, the other is responsible for it all.Courtesy and respect are rule #1Working out a mutually agreeable schedule and respecting each partner’s ownership is the key to success. Although, if needed, our space can accommodate both of us with clients, we worked out a schedule so we weren’t crowding the other person during work hours or consultations. John is based in California, so I am the one most often in the office. As a result, it would be easy for me to make decisions without consulting John, but I won’t hang up a picture without speaking with him first. I’d want the same input if I were in his shoes. It comes down to consideration and respect.Make the boundaries clear to clientsJust as imperative as the rest is the agreement that our clients are never made to feel as if we are a package deal. There are no hurt feelings. It is one office, but we are still completely separate businesses. John and I enjoy working together on events, but scheduling and client needs don’t always make that possible. We both work with experienced and talented planners and videographers whom we love. Each of those professional relationships are important to us, and we wouldn’t want to do anything to jeopardize that.Coming upon the end of our first-year at 4 Buckram Road in Locust Valley, N.Y., we’re looking forward to the next. And we agree that the decision to share office space has been very rewarding. ••