Client: Fortune 200 Benefits Carrier

Challenge: How do we access freelancers and the gig economy? How do we leverage the rise of coworking spaces?

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Overview:

Stepwise Innovation collaborated with a prominent benefits carrier and a startup to delve into the world of freelancers, solopreneurs, and coworking spaces. The goal was to understand the unique needs and behaviors of these segments to identify new product and distribution opportunities.

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Approach:

Our exploration began with a comprehensive research phase aimed at gaining deep insights into the lives and careers of freelancers and solopreneurs. We focused on understanding their wants, needs, pains, and motivations. This involved recruiting a diverse group of participants from various coworking spaces, including WeWork, WorkBar, and Impact Hub. Our participants ranged from wedding photographers and diversity consultants to biotechnology entrepreneurs and music educators, providing a broad perspective on the gig economy.

To capture rich, nuanced data, we conducted in-depth interviews and group discussions. These sessions were meticulously documented, with notes categorized into themes such as personal background, anecdotes, insightful quotes, underlying motivations, design questions, and potential solutions. This thorough capture process allowed us to synthesize valuable insights and identify patterns in the data.

Through our research, several key themes emerged:

My First Choice: Freelancers and solopreneurs view their independent work as a deliberate choice, driven by a desire for flexibility, autonomy, financial freedom, or societal impact. Despite the associated trade-offs, such as income inconsistency and financial uncertainty, they embrace this lifestyle wholeheartedly.

Community Specificity: While valuing independence, these individuals rely heavily on their communities for support, advice, and validation. Specific, purpose-built communities, such as coworking spaces, provide both transactional value and emotional support, fostering a sense of belonging and trust.

No Measure of Good: Solopreneurs often lack clear benchmarks for success. This ambiguity extends to financial protection, leading to confusion and inaction. They frequently question their pricing models, business strategies, and insurance coverage, seeking constant validation from peers.

Innate Optimism: Despite the uncertainties, freelancers and solopreneurs remain inherently optimistic. They believe in their ability to navigate challenges independently, often relying on a network of savings, family, friends, and temporary gigs to cushion against potential setbacks.

These themes guided our identification of opportunity areas. We focused on how these insights could inform the design and distribution of new products tailored to the gig economy and coworking environments.

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Outcomes:

• Ethnographic Insights: We gained a profound understanding of the motivations, challenges, and behaviors of freelancers and solopreneurs.
• Opportunity Areas: We identified several promising opportunity areas, including personalized product offerings, trust-building through co-design, and aligning products with business growth.
• Concept Development: Our research led to the development of multiple product concepts designed to meet the specific needs of freelancers and solopreneurs.
• Strategic Recommendations: We provided a comprehensive report outlining strategic recommendations for new product offerings and distribution approaches.

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Conclusion:

Our collaboration with the benefits carrier highlights the importance of understanding emerging work trends and adapting to new market realities. By deeply engaging with freelancers and solopreneurs, we uncovered valuable insights that can drive innovative product development and effective distribution strategies. This case study exemplifies our commitment to making ideas that matter happen, delivering impactful solutions through empathy-driven research and strategic innovation.