Five Lessons To Learn In A Sharing Economy Start-up

Co-founder of Weroom – Five Lessons To Learn In A Sharing Economy Start-up

Thomas Villeneuve co-founded Weroom in 2013 with the aim of building a marketplace, which connects the community of tenants, landlords and agencies in harmonious flat-sharing experiences.

I came up with the idea to launch a website to help match people to their ideal flatshare after a bad experience when flat sharing in London.

It made me realise that it was not just about finding the right place but also about being matched with the right people.

The launch was a success and we have grown rapidly with 300,000 users globally and properties in five countries, including the UK, which is our biggest market.

The Five Lessons I’ve Learn’t As A Startup In A Sharing Economy

People belong at the heart of your business

When starting out, it is important to remember that people are at the heart of your business and the economy that you are creating. Without them the sharing economy simply does not exist.

The community of people that you create and grow are the ones that are carrying out your peer-to-peer exchange.

When we first launched Weroom, we focused on growing our flat sharing community through social media and word of mouth in order to reach out to the people that we intended to help.

Think about the value you want to create

This is not necessarily about the financial value of the business, but rather the value your business model holds in the market and how it makes significant changes for the better.

Our valuable sharing economy allows budding renters to find affordable accommodation in the midst of a housing crisis, whilst also ensuring that tenants were paired with the right landlords for a positive flat sharing experience.

Think about what makes your start-up stand up above others that may be trying to disrupt a similar space, and ensure your business holds the most value in its industry.

Make your ecosystem efficient

To work and to grow the system it operates in, your start-up needs to be efficient and function in a way that makes life easier for consumers.

Allow easy communication and eliminate the need for using a third party.

Empower your community

In order to make sure you have the loyalty and support of your users, it is important to empower your community financially and socially.

Providing the benefit of saving money through the set-up of your peer-to-peer exchange will empower financially.

Social empowerment is key for your start-up’s ecosystem to run efficiently and well. The social element makes your business a sharing economy that people will actively want to involve themselves with over other competitors.

Look ahead

No matter how successful your start-up is, it is crucial to always be thinking of ways to improve the business and the experience of those within your sharing economy.

Positioning your start-up, as a business that goes the extra mile in its respective market, is what is going to establish customer loyalty and transform your start-up into a sustainable, and successful enterprise.

Interested in sharing your story of how you’re adding into the sharing economy – Email editorial@iamnewgeneration.co.uk