How Coworking Will Save Corporate America

In CoreNet Global’s own words (and mine)

On the flight back home from an inspiring GWA conference1 in Denver last week, I read an article by CoreNetGlobal2 which reported on various research projects that revealed a profound change of mindset by Corporate Real Estate leaders, with the concept of “coworking3” in the middle of it all.
corenet-gwa-fusion
That’s when I realized that the GWA and CoreNetGlobal conversations, which until recently were taking place in parallel universes, are now on a course to unavoidable nuclear fusion.

Here is what CoreNetGlobal is saying in a recent issue of “The Leader”:

  • The average life of an S&P500 company has dropped from 60 years in 1960 to under 15 years in 2014.
  • Two-hundred Fortune 500 companies are projected to disappear in the next five years.

In other words, there is more “job security” with freelancers who are able to work with multiple clients than there is with most corporate jobs. Employees at large corporations spend a significant amount of time and energy worrying about their job security and looking for their next activity, while multiple coworking surveys have shown that the vast majority of coworkers are happy with their activity and find they are more productive in a coworking environment, as reported in Denver.

More from CoreNetGlobal:

  • 70% of the [corporate] workforce would rather be any place than at their current workplace
  • 20% of employees are toxic and better off being paid staying at home. That loss of productivity is estimated to be $1.6 trillion a year

Contemplate that for a minute: one out of five employees actually dilute value?

Expect the trend towards outsourcing major segments of the workforce to resume. We heard from Chris Hood, with CBRE, last week in Denver that Hewlett-Packard has informed many of their developers that they could continue to work for HP as independent contractors, but that the company no longer wishes to keep them on the payroll (Chris is an HP alumnus, like me).

  • The organization that changes the fastest with the least disruption wins
  • When we create a process that is social and engaging, the results produce an engaging workplace

This led the CoreNetGlobal folks to conclude that a social and engaging workplace produces tangible increases in creativity (which gives a better chance for the companies to reinvent themselves) and measurable increases in productivity (which keep successful companies competitive).

Social and Engaging: that’s what coworking is all about, isn’t it?

That kind of thinking is what is driving SAP to implement their own coworking experiment in downtown Palo Alto, or Verizon to partner with Grind in multiple locations, as Benjamin Dyett and I reported on a panel in Denver.

Laurent’s panel on the secrets to fruitful partnerships also featured Benjamin Dyett (Grind), Diana Rothshild (Nextspace), Kris Eliott (Preferred Office Network), and Mark Burke (Premier)

 

Jamie Russo, Founder of Enerspace, and Bill Jacobson, a Principal at Workbar, in their “New Users” panel highlighted the diversity of users in coworking places, including remote corporate workers.

Jamie Russo GWA Panel
Jamie Russo (Enerspace) and Bill Jacobson (Workbar) were joined by Sherry Romello (Hilton) and John Carey (Regus) for an enlighting panel on New Users.
  • Over the life of a building, a company will spend 5% on design, construction and FF&E, 3% on operation, 10% on technology, and 82% of the cost on the people.

Now, think about what a 1% increase in productivity does to the bottom line versus a 1% decrease in building costs. Do the math, and you will see that the people cost are more than 4 times higher than the workplace infrastructure costs over the life of a corporate building.

That realization lead the CoreNetGlobal research group to rightfully conclude that their focus should be more on investing in a workplace environment that will improve productivity, and foster serendipity, rather than on cutting down on infrastructure support cost.

All of this leads us back to the concept of coworking … the savior of Corporate America, as we don’t know it (but will discover soon)! 🙂

Join the LinkedIN Workplace-as-a-Service ™ group for more discussions on the convergence of the GWA and CoreNetGlobal conversations.

By Laurent Dhollande, CloudVO CEO


Notes:

1: GWA stands for Global Workspace Association and is the Shared Office and Coworking Space providers Trade Association

2: CoreNetGlobal is the international organization of Corporate Real Estate Executives and Managers

3: The “term” coworking here is used in a larger context and includes all forms of shared office space that focus on building active communities, including WeWork-type of locations and Hybrid business centers with a keen focus on building active work communities.

With WeWork’s Valuation at $10 billion, When Will The Workspace-as-a-Service Industry Reach $1 Trillion?

Is WeWork worth $10 billion? The answer is clearly yes for Fidelity Management & Research Co and other repeat investors who have invested $400 million in the company, making WeWork’s valuation roughly $10 billion, according to the Wall Street Journal and MorningStar.

Is WeWork worth $10 billion? The answer is clearly yes for Fidelity Management & Research Co and other repeat investors who have invested $400 million in the company, making WeWork’s valuation roughly $10 billion, according to the Wall Street Journal and MorningStar.

Ten billion is four times as much as Regus’ current market capitalization. When WeWork was valued at twice Regus’ just a few months ago, I wrote: “pretty impressive for a 4 year-old company that is surfing the coworking wave exceptionally well. We can only watch in awe.”

WeWork Cofounders
WeWork Cofounders, Miguel McKelvey and Adam Neumann
Now we need to look outside of the shared office industry to get a sense for the enormity of this achievement.

Ten billion is more than half the valuation of the largest publicly traded office landlord in the U.S., Boston Properties. When considering that WeWork leases 3.5 million squarefeet of office space, while Boston Properties owns 45 million square feet, it is clear that we are comparing apples and oranges, and that the main value here is not in bricks & mortar.

WeWork is not valued by its investors as a real estate firm. Rather, it is valued as a company that will disrupt traditional real estate. In the same way that Uber is not valued as a taxi company, but as a company that disrupts taxis. Or in the same way that AirBnB is not valued like a hotel, or like a simple reservation system, but as a company that disrupts the traditional lodging supply chain.

Landlords beware! Your world is changing.

The Morningstar article indicates that the WeWork valuation was about 100 times its operating income. This would suggest an operating profit of ~$100 million, or $28 per square foot per year. Most observers of the shared office space industry who have taken the trouble to reverse-engineer the WeWork operations, like myself, seriously doubt that they generate that much operating profit already.

This is why the story is even bigger than what the Wall Street Journal and Morningstar articles suggest. We believe the WeWork investors’ bet is a bet on a long-term model, with no expectation of achieving massive profitability any time soon.

WeWork Golden Gate
WeWork San Francisco – Golden Gate
We also believe that whether they will prove to be right or wrong, investors in WeWork have done their homework. Do not think, like I have heard some suggest, that this fundraising success is just the result of a good PR campaign, where naïve or lazy investors fell for smoke & mirrors. It would be way too simple.

Instead, it is the sign of a fundamental belief by these investors that the traditional office space is on a verge of a major disruption, the scale of which may even exceed what we have seen in the worlds of AirBnB and Uber and a belief that WeWork is well positioned to take advantage of this disruption.

We agree with this belief, particularly the first part of it. The disruptive value proposition of the sharing economy is real and the shared office space industry is one of the most logical and most valuable implementations of the sharing economy. This is true for coworking, as well as for other flavors of the Workspace-as-a-Service ™ industry that focus on convenience such as Virtual Offices or Proworking. Office Business Centers have a role to play in this change as well, particularly as their model evolves towards hybrid private offices and coworking space, with more focus on curating their communities.

On the other hand, we do not believe that WeWork could ever achieve a monopoly on the shared office space industry. That’s where the comparison with players in other sectors of the sharing economy ends. That’s where $10 billion represents a more significant leap of faith than we would be willing to make (even though we are believers!). Whereas Uber and Airbnb can build a credible case that “the winner takes all”, such won’t be the case in the shared office space. The barriers to entry are not that hard to overcome and users desires for spaces and types of communities will remain diverse.

WeWork is not a market place. It is a workplace provider. It only represents one of the many flavors that users want. Other providers will be successful proposing different flavors, in a large scale. Regus and now WeWork have shown the path.

In that sense, Starbucks is a better analogy to understand where WeWork may end up, if successful. Starbucks is the strongest, largest, most successful coffee shop company in the world. It is ubiquitous. But it does not have a monopoly. There are others, big and small. In the process Starbucks has helped change the way people drink coffee and it has raised the traffic to coffee shops, particularly their own. They also pushed out some of the local coffee shops that often –quite frankly- were not that great. But many local coffee shops, with good cofffe and personality, managed not only to survive but also to thrive.

WeWork Boston
WeWork Boston
We believe the same will happen to the Workspace-as-a-Service ™ industry. We believe that WeWork is only one of the several franchises that will establish their names in the industry. Meanwhile, WeWork, like Regus before them, greatly helps raise awareness of the shared office space, to the benefit of all operators, large and small. We believe investors have other ways to tap into this opportunity than to bet on a $10 billion valuation for a marginally profitable company. Other serious contenders are emerging, at less scary valuation levels and with possibly safer business models.

In the end-state, the traditional office space world will be significantly disrupted, but landlords who will ally themselves with Workspace-as-a-Service ™ operators to help evolve their space offering can take advantage of this massive change too.
Finally, we do believe that it is only a matter of time for the shared office space industry to reach a $1 trillion valuation, which is still a fraction of the entire commercial real estate space valuation. Give us a little bit more time for a prediction as to when. To be continued…

Author: Laurent Dhollande, CloudVO CEO

See you at GCUC!

Headed to GCUC? Look for our CloudVO™ team members attending! We can increase your meeting room bookings, expand your reach, and expand your revenue-base. Best of all, our partnership program is free! Getting started is simple, we just need basic information on your location!

CloudVO & CloudTouchdown

Headed to GCUC?
Look for our CloudVO™ team members attending!

Laurent Dhollande Tracy Wilson Keith Warner Jamie
Laurent Dhollande
Chief Cheerleader, CloudVO
Tracy Wilson
Chief Problem Solver, CloudVO
Keith Warner
Chief Social Personality, CloudVO
Jamie Garbisch
Chief of Partner Relations

CloudVO US Map
Grow your Coworking Community with CloudVO™!

We can increase your meeting room bookings, expand your reach, and expand your revenue-base. Best of all, our partnership program is free! Getting started is simple, we just need basic information on your location!

The Last Rush Hour (and why Google, Facebook, and Apple may become premature dinosaurs)

In the ebook, The Last Rush Hour, there is a striking analysis of the irony of seeing big Silicon Valley companies dis-intermediating time and distance, being the poster children for obsolete 20th century thinking of Centralized Corporate Offices.

In Frederick Pilot’s last book, The Last Rush Hour, available in an ebook format today, there is a striking analysis of the irony of seeing big Silicon Valley companies, which invented the technology tools that have empowered mobility, dis-intermediating time and distance, being the poster children for obsolete 20th century thinking of Centralized Corporate Offices.

Rush Hour

The mega campuses that Google, Facebook, and Apple continue to grow, with all possible amenities a worker may want, are of another age. Just more colorful, with free smoothies, free Hint mineral water, a chef, and a dry cleaner. But in the end, they are just Big Corporate Centralized Offices. They don’t eliminate commute time. In fact a few large Silicon Valley companies, like Yahoo! and HP, have actually reversed liberal telecommute policies, to get “all hands on deck.” Some say out of desperation, trying to treat symptoms rather than the deeper root cause of their problems.

This approach constrains these great companies to only access a workforce that want to live in this environment. Silicon Valley, where I write these lines, is a great place to live, but not all the best and brightest engineering minds want to live here. You’ll also find them in Florida, Michigan, India, or New Zealand too. On the other hand, many surveys have shown that most everyone is happy to work remotely, and that collaborative work does not require daily physical proximity to be effective, not to mention that work teams are increasingly cross-functional, cross-companies, and cross-geographical, which makes the concept of daily physical proximity obsolete in this century.

As a result, the San Francisco Bay Area is the 3rd most congested area in the nation and thousands of workers, and their companies, are wasting hundreds of thousand hours with unproductive commute.

Are Google, Apple, and -sadly– also Facebook on their way to becoming premature dinosaurs? Will they soon be replaced by the increasing vitality of smaller, distributed entrepreneurs, working with each other in more dynamic informal circles, often out of coworking places, a more attractive work environment, for many millennials? The future will tell. It will be interesting to watch.

http://www.lastrushhour.com

Author: Laurent Dhollande, CloudVO CEO

A Coworking Safari

On July 9, 2014, we asked 27 CloudVO associates to spend their entire day in a coworking place and to share their experience on Yammer real time. This article presents a summary of some of the raw observations made by our group on that coworking safari day, without interpretation or judgment.

Methodology

The safari was designed to increase our organization’s knowledge of the coworking landscape. Fifty six percent (56%) of the participants had never coworked previously. The rule was for all participants to check in a location that promotes itself online as “coworking,” pay for a day pass, and share his or her experience and observations throughout the day via a moderated discussion forum on Yammer. Most of the discussions were structured – the moderator sent questions to the group throughout the day every ½ hour or so – but the participants also engaged in impromptu and highly interactive online conversations throughout the day. All data reported in this article was strictly based on those field observations.

Locations

The group checked-in 26 different coworking places in California and Nevada:

  • In 17 different cities
  • 16 locations were in the San Francisco Bay Area
  • 5 were in the Sacramento area
  • 4 were in other California areas (including LA & San Diego areas)
  • 1 location was in Reno, Nevada.

For the most part, participants picked locations close to their home or place of work. Since the majority were CloudVO employees, it is no surprise that the observations were skewed to Northern California, where the company main offices are located.

The vast majority of the operations visited by our group were dedicated coworking operations, with names like Hacker Dojo, NextSpace, The Port, The Hub, SandBox, Comerge, Enerspace, Urban Hive, San Leandro Coworking, Reno Collective, SpherePad, Hacker Lab, LapTop Lounge, ThinkHouse, Sillicon Valley Pad, Get Smartworkplaces, Sattelite, Comerge. One operation was a coworking place specifically designed for legal professionals (Thirty33 Legal Suites). Two locations advertised themselves as coworking places but were effectively touchdown space for professionals (e.g. MediaPod, with Courtyard by Marriott). The majority of the operations were for-profit operations, focused solely on coworking, but at least one was a non-profit operation, managed by and for its members.

Capacity & Usage

Half of the coworking places were small, with less than 40 coworking seat capacity, but 30% had more than 80 open coworking seats. Close to 40% of the locations offered private offices (ranging from 5 to 20 private offices). Most had collaborative space. Two-thirds provided private or semi-private conference rooms, ranging from 1 to 6 meeting rooms per location. 

Distributio of Coworking Seat Capacity Number of Users at Peak Time

Demographics

Whereas the majority of the coworkers on our safari day seemed to fall in the 31 to 39 years old age group, all ages were represented, including Millenials, Gen Y, Gen X, and Boomers. 

Population Age Breakdown

Pricing

Day Pass prices ranged from $10 to $75, with $25 as the median rate. A few locations offered free passes to “test drive” the coworking places. These free pass opportunities were not factored into our statistics.

The median monthly membership, with unlimited access was $295, also with a wide range from $79 to $475 per month. Many operators offer ten-day or five-day access at reduced prices. Dedicated desks, where users often leave their monitor, ranged from $300 to $550 with a median rate at $433/month. 

Published Prices

Amenities 

While a few of the smaller locations seemed to have spotty internet connections, most provided decent but not exceptional Internet connectivity. More surprisingly, only half of the locations seemed to provide some form of network printing. When available, printing was often free of charge.

Internet Connection Speed

Ambiance

Whereas community events are said to be the critical fabric of their place by most coworking operators, our observers could find events prominently posted in only 58% of the locations.

What really struck our safari participants is that the coworking locations were places to get work done. The image of informality some coworking places promote, with folks lounging on a couch with a beer on hand and a laptop on the knees, were no where to be seen. What the group observed instead were studious, library-style, work environments, where folks are by and large respectful of each other’s space and sound privacy. For example, most folks while making cell phone calls are careful not to do this in a way that disturbs other coworkers.

Coffee and beverage were very simple for the most part –no luxury!- but seemed to achieve their purpose.

Sound Level

Coffee Rating

Coworking Ambiance

Rate Your Coworking Experience

Join us for ‘Workspace-as-a-Service Safari Day’ in the Spring of 2015.

We would like to engage our entire industry in a Workspace-as-a-Service Safari Day in the spring of 2015. Let’s cover 100+ cities worldwide! Take one day out of your busy schedule to join our global field trip and in the process:

  • Help gather incredibly valuable data and help understand our changing industry.
  • Gain deep insights into the operations of other players in your space.
  • Enjoy the highly interactive format and benefit from the experience of hundreds of other participants in real time.

Here is how we would like to organize that day:

  • If you are a business center operator then check into a nearby coworking place or incubator for the day and offer other participants of the Safari a flat $40 rate to check into a day office at your center for that same day.
  • If you are a coworking operator, check into a nearby business center day office or an incubator and offer participants of the Safari a regular day pass at your center, not to exceed $40 for that day.
  • If you work for an incubator, check into a nearby business center day office or a coworking space for the day and offer participants of the Safari your regular coworking day pass at regular cost, not to exceed $40 for the day.

If you are interested in participating in the Spring 2015 World Workspace-as-a-Service Safari Day, please fill the following form.

We anticipate requesting participating operators to cap their Coworking Day Pass (coworking location), or Day Office Pass (Business Centers) at $40 max for any participants in the safari.

First Name

Last Name

Company Name

Your Email

Phone Number

Enter Address

Your Main Activity

For more information, consult our Workspace Provider Resource Center. Join our Workplace-as-a-Service ™ LinkedIN Discussion Group for more data-driven discussions with our community of workspace providers, one chewable data-bite at a time.

CloudVO ™ Team

Is Coworking For Enterprise Workers?

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Part of a series designed to sort through coworking, teleworking, virtual offices and other touchdown workspace options available to mobile workers.

Coworking places came out of nowhere about 5 years ago in the San Francisco Bay Area. They host local communities of freelancers with a workplace environment that is affordable and designed to maximize social and networking opportunities.

Today there are close to 1,000 coworking locations worldwide. Coworking providers constitute the most informal segment of a workspace-as-a-service industry which also includes, on the most professional end of the spectrum, office business centers, with an estimated 9,000 providers around the globe according to John Jordan, President of the Global Workspace Association.

Coworking is a response to a social need by independent workers who find that “working alone sucks”. In an ideal way, coworking is about bringing the workspace and a loosely coupled business community into the “third place”, i.e. that place that is not home, is not the dedicated workplace, but that can be a multifaceted place in-between, preferably located at the center of a re-enacted village in an urban environment, a short walk away from home.

The success of coworking is a reflection of increasingly loose boundaries between business and personal lives. People want to work where they play, play where they work, and above all, do this within the context of a community they chose to be part of. Substitute “study” for “work” and we are talking about college sororities and fraternities. Not a terribly new concept after all!

But the question is whether this model, which works well for freelancers, has any application to enterprise users in their company workplace management mix.

Let’s explore the relevance of some of the benefits of coworking in an enterprise context:

Social Needs: Human beings are social beings and like to feel part of a community of folks with shared interests. This is true in our business as well as our personal lives. At the same time, enterprise users are by definition part of the community formed by their company. Who they work for helps define them. When that company culture no longer works, they leave. Thus, the community aspect of the coworking value proposition carries a relatively lower utility for enterprise workers who are a good fit for their company culture.

To their credit, many companies do make valuable efforts to bring the center of the village into the corporate campus, by deploying noisy lounges, on-site restaurants, and by encouraging on-site non-work related activities. Monday morning Fantasy Football conversations by the water cooler have similar social utility.

Mobility: Whereas Enterprise workers are increasingly mobile, the corporate campus is not. Yet mobile workers still need to access an office infrastructure with collaborative space and meeting rooms. Coworking places are an option, but when road warriors need to focus their energy on a stressful customer presentation, the last thing they need is a spontaneous beer bust breaking out in their space. This is a time when the functional aspect of a touchdown space, in a highly professional and controlled environment, becomes more important than its social aspect. In that respect, virtual office solutions offered by on-demand workplace providers such as CloudVO are more adapted to the needs of enterprise mobile workers.

Serendipity: At a recent Corenet Global summit in Atlanta, Joe Ouye with New Ways of Working, pointed out the enormous value of the serendipity which takes place in the corporate campus where people bump into each other every day. New ideas or unexpected solutions to seemingly unsolvable problems can emerge through unplanned and unstructured conversations. While this is true, another kind of serendipity can be found in coworking places, stemming from exposure to different business and life experiences. The sparks of creativity can be more abundant, and the learning richer, when people meet folks that come from vastly different backgrounds in a high energy coworking environment like at NextSpace. This might be especially beneficial for folks in outward-facing functions such as sales, marketing, or customer service, but also helpful to internal functions that benefits from external learning and out-of-the box thinking such as R&D and some engineering functions.

Cost Effectiveness: Virtual Office plans that include access to hours of day offices and conference rooms with providers of on-demand workplaces such as CloudVO can be purchased for $200 to $300 per month in many locations. This is clearly an inexpensive way to supplement a work-from-home program, possibly eliminate un-necessary dedicated offices altogether, and give remote workers access to a professional space where they can bump into other professionals at the coffee bar. Day pass access to a hot desk in an office business center or a coworking place can be as low as $20, or less, and a significant step up from working at Starbucks. An increasing number of companies are eliminating expensive satellite offices, while supplementing telework with virtual office subscriptions as part of a plan to reduce portfolio-wide occupancy costs. When a dedicated office is needed for a small group of remote workers, a no-term lease solution like those offered by the Preferred Office Network helps eliminate the long term and costly nature of traditional occupancy decisions.

Corporate Real Estate managers would be well served to keep a keen eye on what is going on in the world of coworking. The coworking popularity is a sign of changing priorities and changing values in the workforce, where social considerations, flexibility, and work/life balance becomes increasingly more important. At the same time, enterprise road warriors may be better served accessing virtual offices or touchdown space in a more controlled and professional environment, where the level of amenities and privacy carry a higher level of utility than the highly social and informal nature of coworking places.

How to identify these workspace choices and book them real-time while on the road will be the topic of a forthcoming article which will feature the Liquidspace app and services available to corporate real estate organizations to optimize their options with workspace-as-a-service providers.

 

Laurent Dhollande
CEO of Cloud Officing Corp

Warming Up to the Officeless Office


As companies seek to cut costs and accommodate an increasingly mobile work force, some employees have had to say goodbye to their personal work areas. Unassigned workspaces, sometimes called “free address” or “nonterritorial offices,” have long been a fact of life for consultants or employees who do their jobs mostly on the road or from home. But a growing number of workers, including some who spend more time at the office, have had their cubicles replaced by communal tables or unassigned desks they share with a sometimes shifting cast of colleagues.

Instead of assigned desks, employees often get storage lockers to hold their files and supplies. Spots can be reserved in advance—a practice called “hotelling”—or snagged on a first-come, first-served basis, depending on company policy. Most companies that have embraced unassigned workspaces have done so to cut real estate and other costs, in some cases by placing workers closer together. Shrinking an office’s footprint can save millions of dollars annually in rent and energy expenses. But the new configurations also have brought some unexpected benefits—from encouraging workers to collaborate to reducing internal email.

Read the full article here
By Rachel Emma Silverman and Robin Sidel via Wall Street Journal

Growth In Virtual Office Shifts To Enterprise

January 31, 2011 (Palo Alto, CA) – Hoteling and Alternative Workplace Solutions were the buzzwords of the last decade in the corporate workplace. They may soon be replaced by Virtual Office and On-demand Workplaces.

Large corporations started to drift away from standard office settings in the 90’s when large firms like Accenture, Sun Microsystems, or Cisco Systems pioneered non-dedicated office space. Employees would show up at work and reserve a workstation on a first come first serve basis or via an online reservation system. A new “hotdesking” world was born.

Asset utilization surveys have shown that an average workstation in a traditional office environment is used only 35% of the time during business hours. From the perspective of the CFO, this means that two third of the time the under-utilized asset is wasted. Companies that have implemented hotdesking environments have reported increased in asset utilization ratios from 35% to 65%, thereby reducing the waste in half. What is good news for the CFO may not be as good news for office building owners. Companies now need a smaller footprint to accommodate the same employee base. A large segment of Fortune 500 companies have implemented programs with non-dedicated office space. At IBM, already 42% of the workforce does not have a dedicated office.

The next frontier will be to achieve 100% utilization, simply by outsourcing the workplace altogether and eliminating company (not just employee) dedicated office space.

Laurent Dhollande, CEO of Cloud Officing Corp, explained: “It makes a lot more sense for Cisco and Hewlett-Packard to rely on a network of on-demand office spaces, available in thousands of locations around the globe on a pay-per-use basis, rather than to rely on a few captive touchdown spaces. We are building this network for them”.

None of this is new to start-ups and bootstrap entrepreneurs. The use of Virtual Office space, one form of on-demand workplace, is widespread in the small businesses world as it enables them to cut costs, yet still give them access to professional offices and conference rooms to meet with clients or business partners when necessary. Today, larger companies are realizing the benefits of accessing similar forms of on-demand workplaces for their remote employees. In California, providers like Pacific Business Centers, a sister company to Cloud Officing Corp, are thriving on this new corporate demand.

Dave Evans, Futurist and Chief Technologist, Internet Business Solutions for Cisco stated in a recent Press Release “Employee mobility is a fact of life, and the business advantages are clear across many industries. Work is not a place anymore. It’s a lifestyle.”

Both small businesses and large enterprises realize the necessity of being mobile, but also need the business functionality of professional workplaces. Today’s business professionals need to cover more territory with fewer assets, whether they are bootstrap entrepreneurs or they work for a Fortune 500 company. On-demand Workplaces enable them to do this without sacrificing functionality and professionalism. In the end, both productivity and profitability are increased.

About Pacific Business Centers and Cloud Officing Corp

The Pacific Business Centers group of companies (PBC) operate on-demand office space in California, with access to over 650 locations worldwide, under a hosted model the company refers to as “Workplace-as-a-Service ™“. Cloud Officing Corp, an affiliate of PBC, operates the Cloud Virtual OfficeTM brand and is building a ubiquitous network of Virtual Office touchdown locations for mobile workers, in partnership with owners of commercial office buildings.