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Natasha Guerra tells The Times: 'What I Learnt...'
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Natasha Guerra, CEO of Runway East, spoke to Richard Tyler at The Times about her decade of running the company. She speaks about how she initially borrowed £100k against her flat to start the business:
"It was our first proper building and things don’t always go to plan. When I took the money out I didn’t really think that I might not get it back. I was 26 and quite naive. I thought I’d just borrow the money and pay it back in a few years and it would be no problem.
We had made a load of assumptions about the business model and a lot of them were wrong.
We started to see the strain of running out of cash. It dawned on me that I might not be able to pay the money back."
Natasha goes on to talk about the differences between the tech industry, which is more reliant on venture capital funding, and the property industry. She also mentions focusing on how cash flows through the business:
"On the customer side, what has made a difference is being really on top of when people are paying, how they are paying. Those things are sometimes given less attention.
Every month we are looking at our numbers and thinking about how we can optimise them."
Natasha continues by talking about how not raising funds since the initial borrowing has forced Runway East to be an outlier in the flexible office market. She mentions the importance of getting the model right before scaling, and using a profit share model to ensure a shared risk/shared reward strategy with landlords.
"We now work in partnership with landlords where we both invest capital in the project and then both have a profit share model. When things are going great, the landlord is making more income than they would otherwise, and when things are tougher the landlord is making less income. That means we can ride downturns much more successfully than people on a leaseholder model."
She finishes by giving the advice she would share with her younger self, looking at other ways of treating cash, customers and structuring the business model.
Don’t think of finance as something you outsource. Really focus on having good reporting, that you understand your numbers and challenge your assumptions."
You can read the full piece at The Times (paywall).
Got Questions? We've Got Answers
We've put together some FAQs to help you settle into life at Runway East.
What’s included in the price?
Our pricing is all inclusive, so as well as access to your own private office space, your price includes business rates, utilities, cleaning, tea and coffee, a program of professional and social events for your team, and (all importantly), Cake on a Wednesday and a Drinks Trolley on a Friday.
What will my quote include?
Your quote will include all currently available office space that meets your requirements, along with the information you need to decide if we might be right for you - images, floorplans, and full details of our services.
Do you offer free meeting room access to members?
Yes, if you become a member with a private office at a Runway East site, you get free meeting room access for your team across 100+ meeting rooms we have, with industry leading allowances. To make sure members use space fairly, overages are charged only in the event you go over your allowance.
I have specific needs - can you meet them?
Almost all our members have specific needs - and we pride ourselves on aiming to meet them. Reply to your quote with them, and we’ll give you a speedy response - or call us on 0203 1379 953.
How long are your office space agreements?
Our standard pricing is on 12 month terms, but if you want a shorter or longer agreement, those are also available, with custom pricing to reflect your commitment level.
Can I customise my office?
Yes - we have a range of office customisation options you can choose from, and we want to deliver a great environment for your team. Options include your logo on the wall, to your own phone booths in office, through to building meeting rooms and custom requirements.
I’d prefer to speak to someone on the phone or via email?
No problem - you can give us a call on 0203 1379 953 or you can email us at membership@runwayea.st.
Are Runway East expensive?
We provide a range of options for all budgets, and always aim to work with your budget where we can. If we can’t meet your needs - we’ll be upfront about that with you from the start.
Can I speak to someone on the phone/over email?
No problem - you can give us a call on 0203 1379 953 or you can email us at membership@runwayea.st
How flexible are the length of the agreements and notice periods?
We price most of our memberships on desks, or the equivalent number of desks within an office.
Are there any hidden fees we should be aware of?
We price most of our memberships on desks, or the equivalent number of desks within an office.
What are the membership criteria?
We price most of our memberships on desks, or the equivalent number of desks within an office.
How does the meeting room system work?
We price most of our memberships on desks, or the equivalent number of desks within an office.
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