178. Virtual Offices as Your Revenue Foundation: David Steyn on What IWG Knows About Profit

IWG doesn't give away free beer. And that's exactly why they're profitable. This week, Giovanni Palavicini and Kurt Patrick sit down with David Steyn, Senior Commercial Director at Anytime Mailbox and Anytime Postage, for a conversation about virtual offices, international coworking markets, and why adding revenue streams matters more than free perks. David spent years at IWG running their global virtual office business before joining Anytime Mailbox. And he's got perspective on what actually drives profit in coworking—from London's dense, prestige-address market to rural Scotland where a coworking space might also be the village bank, post office, and doctor's surgery. We talk about: Why IWG passed on free beer while WeWork gave everything away—and what that teaches operators about profit How virtual offices underwrite coworking businesses (especially in markets like London where privacy + prestige = demand) The three pricing tiers for virtual mail services—from $9.99 privacy addresses to $69+ premium bundles Why coworking works differently in the UK vs North America (density, leasehold history, GDPR compliance) How rural Scotland is deploying flexible hubs that serve as banks, post offices, and coworking spaces The postage kiosk play—1,500 deployed at IWG locations to turn mail into self-service revenue Why operators should focus on product mix and revenue streams, not just competing on space This conversation is proof that the best operators don't just lease space—they think strategically about every revenue stream, every compliance risk, and every service their members actually need. If you're wondering how to add revenue without adding staff, or how virtual offices fit into your business model, this episode is for you. Resources Mentioned in this Podcast: David Steyn on LinkedIn Kurt Patrick on LinkedIn Anytime Mailbox's website Anytime Postage's website Connect with your Hosts: Connect with Giovanni on LinkedIn Connect with Jamie on LinkedIn Find Jamie on the Everything Coworking Podcast