Interested in starting your own entrepreneurial journey in real estate but unsure what to expect? Then read up on our interview with Paul Stephen, Director of Strategy of Stephen Development, located in Clarence, NY, USA.

What's your business, and who are your customers?

We are proud to announce Main Stage, Clarence's first coworking space, now offering memberships starting May 2024. We are in the process of converting existing modern office space on Main Street in Clarence into a flexible, modern coworking space for innovative professionals.

Tell us about yourself

We were inspired to take a new approach to the space based on the currently soft demand for large office spaces used by single tenants. We feel there is, by contrast, intense demand by local startup companies and sole proprietors for professional-grade office space that will allow them to meet with clients and even maintain a small staff, which isn't feasible with a pure home office setup.

What's your biggest accomplishment as a business owner?

Stephen Development has already excelled in multifamily residential projects, retail plaza development, and hospitality. We are excited to branch out into this new form of office real estate.

What's one of the hardest things that comes with being a business owner?

Rising costs due to inflation combined with increasingly onerous regulations.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Have a clear plan.
  2. Know your customer base and its demands.
  3. Design a distinctive and memorable brand.

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