10 Smart Goals for your Coworking Space: How to Set & Achieve Business Objectives

Coworking is synonymous with creativity, collaboration and productivity. Businesses and freelancers love coworking spaces because (by surrounding themselves with fellow workers) they’re more likely to achieve their goals. The coworking environment, while social, is set up to facilitate focused, distraction-free working. 

But how do the people who run coworking spaces stay on the right track?

If you manage a coworking space, you’ll know only too well that the challenge often lies in the multi-faceted nature of the role. 

You have to foster a sense of community, and handle memberships, marketing and finances, all while creating a positive environment for members, visitors and employees. With all this going on - often against the backdrop of fluctuating occupancy and expenses - your wider coworking business goals can get sidelined. 

That’s where goal setting for coworking comes in. Specifically, SMART goals. 

What are SMART goals?

A guy called George T. Doran came up with the idea for SMART goals in the early eighties when he penned a paper titled “There's a S.M.A.R.T. Way to Write Management’s Goals and Objectives." In it, the consultant and former director created a framework to help businesses craft clear and achievable objectives.

Today, SMART goals are used universally to improve goal-setting and productivity. Goals, when articulated in this way, are often more effective because the way they are structured makes it easier for people to visualise the outcome. There is less room for ambiguity and so people are more likely to stay on track.

Here’s what SMART stands for:

Specific – A clear definition of what the intention is.

Measurable – The method through which progress is tracked (e.g. numbers).

Achievable – Realistic goals that are challenging but attainable.

Relevant – How it aligns with the company’s overall objectives.

Time-bound – A deadline or milestones for accountability. 

Crucially, for those of us operating in busy industries like coworking, clearly outlined objectives help us to prioritise tasks and aim for consistency in progress, which can result in better decision-making. Even the act of writing down SMART goals and revisiting them can make a big difference. In short, we think SMART goals should be one of your go-to - and ongoing - coworking success strategies.

10 smart goals examples for work

SMART goals provide a structured way for coworking operators to achieve success, from increasing memberships to developing an engaging social calendar. The first step is to clearly outline and define your objectives.

Remember, SMART goals should always be flexible. After all, even as you’re working towards a goal, circumstances might change or new insights (or even better opportunities) may emerge. Embracing flexibility will enable you to respond to what’s happening in the real world. 

Here are some practical business goals for shared offices looking to work smartly towards their targets, to ensure long-term sustainability and a thriving, collaborative workspace for professionals and entrepreneurs alike.

1. Increase membership by -% 

Every square foot of a coworking space contains value, and optimising space is crucial when it comes to operational sustainability, profitability and community growth. Increasing membership is one of the more obvious SMART goals a coworking space owner might choose to adopt. 

The percentage of growth aimed for will vary. For instance, a smaller space might aim for between 25-30% growth, while a larger more established coworking operation may aim for 10-15% growth. It also depends on the competitiveness of the market in which your coworking space operates. 

A simplified example of how this SMART coworking goal could look:

• Specific: Acquire 20% more members through targeted advertising.
• Measurable: Track new signups and renewals through your coworking CRM.
• Achievable: Run ads on social media and in local media outlets.
• Relevant: More members equals greater revenue.
• Time-bound: Achieve the 20% growth within 6 months.

2. Increase virtual membership revenue by -% 

Remote work’s popularity has led to an increase in demand for virtual office solutions. If you aren’t already doing so, now could be the perfect time to tap into the virtual market. 

These memberships provide home-based businesses and digital nomads with a notable business address, access to ad hoc workspace and all the benefits that come with being part of a wider coworking membership network.

A simplified example of how this SMART coworking goal could look:

• Specific: Acquire 25% more virtual members through marketing.
• Measurable: Track new signups and renewals in the CRM pipeline.
• Achievable: Add more benefits to your virtual office package.
• Relevant: Virtual memberships boost reach and revenue.
• Time-bound: Implement a new virtual strategy within 3 months.

3. Host a monthly skill-specific networking event

Monthly networking events can work wonders for community engagement and - if opened up to the public - could attract interest from potential new members. Regular, consistently branded events can help build routine, making it easier for members to remember and make them a regular feature in their busy calendars. 

A simplified example of how this SMART coworking goal could look:

• Specific: Host 12 skills-based coworking events in the year.
• Measurable: Track attendance member feedback through Nexudus Events.
• Achievable: Invite existing members and guest speakers to host.
• Relevant: Expands reach and adds value.
• Time-bound: Start next month and review after 3 months initially.

4. Reduce Single-Use Plastics

It’s no secret that fit out is responsible for around 40% of an office building’s entire carbon footprint. Single-use plastics also harm the environment by polluting oceans and contributing to landfill waste. Unlike alternatives, they take centuries to decompose and harm nature through toxic chemicals and microplastics.

Reducing and eliminating microplastics is an easy way to make your coworking space more eco-friendly, and for many it’s the first step to becoming greener. 

A simplified example of how this SMART coworking goal could look:

• Specific: Implement a no single-use plastics policy.
• Measurable: Track waste reduction manually.
• Achievable: Provide reusable alternatives, such as reusable cups.
• Relevant: Promotes sustainability and boosts reputation.
• Time-bound: Implement in 1 month, achieve 6 months.

5. Introduce an AI-Powered Helpdesk 

Responding to member queries can be time-consuming, but with OpenAI it doesn’t have to be. The Nexudus platform uses OpenAI to automate help-desk responses, providing quick and accurate responses to queries. An AI-powered helpdesk can ensure 24/7 availability and provide accessibility for members submitting tickets outside of traditional ‘working hours’, or those living in a different time zone.

A simplified example of how this SMART coworking goal could look:

• Specific: Use OpenAI to automate member query responses.
• Measurable: Get member and employee feedback on efficiency.
• Achievable: Use your CRM’s AI integration.
• Relevant: Reduces workload and improves response time.
• Time-bound: Implement within 3 months.

6. Enrol on a Nexudus Academy course

Providing both yourself and your team with opportunities for learning new skills can significantly boost morale as well as the overall efficiency of your coworking space. One of the easiest ways to implement learning is by leveraging what’s on offer through your existing partners and providers. 

For example, The Nexudus Academy offers a range of learning pathways and self-paced e-Learning courses for coworking spaces. There are more than 50 courses to choose from and each is designed for you to implement your newly acquired skills in your own Nexudus account.

A simplified example of how this SMART coworking goal could look:

• Specific: Enrol on a Nexudus Academy course.
• Measurable: Complete the course.
• Achievable: Facilitated through Nexudus.
• Relevant: Expands the coworking team’s skillset.
• Time-bound: Everyone completes a course within 6 months.

7. Create a digital nomad package

In a 2024 survey, the results of which are explored in a Harvard Business Review article, over million workers in the US identified as digital nomads - an increase of 131% from 2019. These digital nomads come from a range of age groups and industries. 

Digital nomadism is being fuelled by remote working opportunities and new digital nomad visas, as well as wider access to coworking. If you’re in a digital nomad hotspot, you might be thinking about how to position your space for this new market. 

A simplified example of how this SMART coworking goal could look:

• Specific: Develop a membership option for digital nomads.
• Measurable: Track sign-ups and engagement through your CRM.
• Achievable: Offer flexible pricing, virtual office services and travel perks.
• Relevant: Attracts remote workers who require short-term desk space.
• Time-bound: Implement within 3 months.

8. Get 5 PR Features in a Year

Media coverage - which could be as simple as a ‘mention’ in a blog or social media post - can really boost your visibility and brand awareness, especially if the publisher has a lot of engagement. Positive media exposure can lead to new opportunities and partnerships, but a strategic approach is usually the most effective. 

A simplified example of how this SMART coworking goal could look:

• Specific: Get featured on five industry websites or social media accounts.
• Measurable: Use a spreadsheet to keep track of any mentions.
• Achievable: Work with your own marketing team or a freelancer/ agency.
• Relevant: Builds trust and brand credibility.
• Time-bound: Secure features within 12 months.

9. Introduce a member rewards programme

Rewards incentivise people to use your space frequently, and improve member satisfaction and retention by adding value.

Membership rewards should align with your space and clientele, so don’t be afraid to get creative. Teaming up with nearby businesses to offer exclusive discounts or perks can help get your name out into the local area. 

A simplified example of how this SMART coworking goal could look:

• Specific: Offer incentives to members and additional perks for referrals. 
• Measurable: Track participation and claims through your CRM.
• Achievable: Provide discounts at local businesses.
• Relevant: Increases member retention.
• Time-bound: Introduce within 3 months.

10. Pivot to a podcasting

Got an underutilised meeting room? 

Podcasting is booming, and many entrepreneurs, content creators, and businesses seek high-quality recording spaces. Offering a fully equipped podcast room can draw in new members and creatives. Your podcast room can be part of the overall membership plan or be rented out separately to both members and non-members. 

A simplified example of how this SMART coworking goal could look:

• Specific: Create a soundproof podcasting studio with equipment.
• Measurable: Track room usage through Nexudus Explore. 
• Achievable: Soundproof room and buy equipment.
• Relevant: Supports members to collaborate and create content.
• Time-bound: Open in 6 months.

Your coworking SMART goals template

Goal Statement: (Clearly define what you want to achieve.)

S - Specific

• What do you want to accomplish?
• Who’s involved?
• Why is this goal important?

M - Measurable

• How will you track progress?
• What metrics or milestones will indicate success?

A - Achievable

• Is this goal realistic with available resources?
• What steps must be taken to achieve it?

R - Relevant

• Does this goal align with our wider objectives?
• How does it fit with the bigger picture?

T - Time-bound

• What’s the deadline?
• Are there any short-term milestones?