Adam Segal thinks an office environment should make your job easier, not harder. That's why he founded co-working space startup Cove back in 2013. Since then, Cove has raised $6.2 million in funding, $3.4 million just last month, and expanded to seven locations in the D.C. area. Cove also opened three spaces in Boston last year, but is closing two of them as part of a reorientation strategy there.
How do you keep yourself from falling prey to common assumptions and stay creative and original?
I try to focus on thinking about improving an experience. Not just looking at what works, or what seems to work, but what could be better. With Cove I say let's not think of the office and its problems, let's think of people's behavior how it changes. It's more thinking about lifestyle.
Where do you find inspiration that's special to you?
I take notes when I think of ideas and two to three times a week I send myself an email with the new ideas to decide on. Typically they're about pain points we can solve, something complicated that could be simplified, things like that. The ideas come from conversations, things I'm reading, really everywhere.
What job have you had that has had the greatest impact on your career?
I worked at an investment bank and it was stifling, just the opposite of creative. It clarified the type of environment that's better for me. I realized I could be an entrepreneur and make that environment happen. There was a progression and now I'm here. I don't think I could ever go back.
How will your industry change the most in the next five years?
"The office will be a hub, not a destination."
I think commercial real estate is going to go through a lot of changes. The way it interacts with organizations is going to change in every way. It will reduce its footprint because there will be less of a need for office space in general. Convenience is becoming more important. The office will be a hub, not a destination.
How is Washington D.C. unique when it comes to innovation?
It does feel like there's an unbelievable level of intelligence here. It feels like we're on the precipice of unlocking more of that for startups. The environment has so much untapped potential because it attracts a certain type of intelligence. People here aren't just interested in maximizing their dollars, they're thinking about the impact and significance of what they do. That feels really unique.
What’s something that you do every single day, no matter what you have going on?
Most every day I have to exercise in some way. It's like my disconnect from work, the moment when mind and body connect. And I'm always writing short list of things I have to do. Those go to the emails I send myself.
Who in D.C. do you admire?
It's not really one person but I really admire the [Capital] Bikeshare program and the people behind it. It's amazing how integrated it is into the city and the behavior of people here.
What would you change about D.C. or D.C. Tech if you could snap your fingers and make it happen?
I'd like if the local government had a stronger customer focus for small businesses. There are so many steps for a business and each touch point is an opportunity for support.
What does it mean to be 'on fire?'
It means there's something an organization is doing that's resonating with people. For me that means making the complicated simple. Simple is always easier to understand and wrap your head around and that means more people get what you are trying to do.
