Wealth Enhancers moves into co-working offices

With more of the firm's employees now based overseas, Wealth Enhancers has recently moved into modernised co-working offices as a way to save money on space.

Speaking to ifa, Wealth Enhancers co-founder Sarah Riegelhuth said the co-working spaces – Desk Space in Sydney and Revolver Creative in Melbourne – are flexible since they operate under a desk-for-hire basis without lengthy leases.

They also offer upgrades or downgrades should her company need more or less room, she said.

"We used to have more staff in Australia whereas now we're a bit more global. So we had too much space where we were," Ms Riegelhuth said.

"[The co-working space] is much more flexible. You pay month to month rather than being locked into a 3-year or 5-year lease. As you grow or shrink, you can upsize or downsize your rent so you're never wasting money on space."

In addition to having the flexibility, Ms Riegelhuth said it was important to surround her staff with like-minded entrepreneurs. In the new offices, her small team can socialise and learn from other businesspeople sharing the space, she said.

"Four people in a little office by themselves is not really social. Whereas if they're in a bigger office with 50 or 60 people, they've got all these different people they can talk to and they get that nice sense of community.

"For us, it's great to have the team in a really creative, entrepreneurial environment and around other people who they can learn from and talk to," she said.

"We like it because it stimulates our ideas, thoughts and creativity."

However, the Wealth Enhancers staff are not required to work out of the co-working spaces. Ms Riegelhuth said she allows her team to choose their own work environment so long as the targets are met.

"We work very flexibly and are outcomes-driven," she said.

"Every quarter we do planning with the team and work out what their KPRs and priorities are for that quarter and they just do it however they want to do it.

"So people can work from home, they can work from the co-working spaces. It doesn't really matter."

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