In this interview episode of the This Week in Coworking Podcast, Hector Kolonas chats with Flip Howard, a veteran in the coworking industry who is owner of Lucid Private Offices. The conversation spans Flip's almost quarter century long journey, beginning with acquiring Meridian Business Centers in 2001, through several rebrands, and evolving business models. Flip shares insights into the industry's past and future, from fax machines and T1 internet lines to virtual offices and hybrid memberships. He discusses Lucid's strategic shift to emphasize private offices, maintaining a customer-centric approach, and their resistance to management agreements in favor of traditional leases. The discussion also delves into operational philosophies, like treating team members well and focusing on unit economics for business longevity. The episode concludes with thoughts on the future of coworking, touching on e-commerce integration and the importance of maintaining a balance between personal and professional lives.

00:00 Welcome and Introduction

00:51 Flip Howard's Journey into Coworking

01:37 Evolution of Office Space and Services

03:34 Rebranding to Lucid Private Offices

04:15 Current Offerings and Demographics

06:05 Changes in Business Models and Revenue Streams

10:07 The Importance of Physical Office Space

15:46 Team Dynamics and Employee Retention

18:01 Employer-Employee Relationship Dynamics

18:26 Leadership Style and Employee Satisfaction

20:17 Lucid's Business Model and Leasing Strategy

21:43 Management Agreements vs. Leases

24:42 Expansion Plans and New Markets

25:42 Technological Shifts in Coworking

26:56 Virtual Offices and New Product Trends

28:26 Core Principles and Company Rebranding

30:50 Advice for Building a Lasting Business

33:18 Final Thoughts and Personal Insights