A co-working space for underestimated communities

When she was just a teen, Alex Steinman would spend her summers working at her father’s insurance business answering calls as his receptionist. Watching him operate and grow his business planted the seed of entrepreneurism in Steinman’s mind. 

“I just loved the idea of creating something of my own,” she recalls of her teen years. 

Now, as an adult, Steinman has seen that idea materialize. She’s the CEO and one of the co-founders of The Coven, a Twin Cities-based co-working space centered on women, non-binary, and trans people that is quickly expanding its footprint across the region. 

She credits her parents and her experience in the advertising world for having paved the way for this venture. 

After studying journalism and advertising at the University of Minnesota, Steinman pursued a job at Carmichael Lynch Spong, now known as Carmichael Lynch, a Minneapolis-based advertising and marketing firm. She would continue her career working at another agency—Fallon—as an account manager.

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She would learn early on in her career the importance of fostering relationships as she worked directly with corporate clients. However, being in an industry with little diversity became a challenge for Steinman. 

“As a Black woman in the industry, there weren’t very many of us at my agency,” she said. “There were a lot of initiatives to try to get more students of color into the industry, but there weren’t a lot of initiatives meant to keep people.”

Steinman would work with some of her colleagues to host events and promote an inclusive workplace to entice more women and people of color to join the industry. They found that the issue was deeply rooted and would take a larger shift in culture to make significant change. 

Cutting the corporate cord

In 2017, Steinman would go on to launch The Coven alongside Bethany Iverson, Liz Giel and Erinn Farrell. The four affectionately referred to their group as “the coven,” having confided in one another about the unwelcoming nature of their industry. 

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“We wanted to create a world in which you could show up to work as any version of yourself,” she explained. “We wanted to create the world that people deserve to work, learn and grow in. That’s kind of the impetus for The Coven.” 

To set themselves apart from the existing options, Steinman and her co-founders aimed to foster a sense of community that was lacking in traditional office culture. 

“This is a place where you can sit next to somebody that you’ve never met before. A place where activists and bankers can sit next to each other and have a really fruitful conversation, solve problems, approach solutions, and maybe even just experience some joy together,” she said. 

They successfully crowdfunded $350,000 to open their first space in 2018. The money raised was mostly incentivized through promoting pre-sold memberships. This served as a proof of concept for the team and showed future investors that there was a need for spaces like The Coven. They opened their second location in St. Paul in early 2020, just before the onset of the pandemic. At a time when many businesses struggled and even closed their doors, The Coven saw their business grow. 

Surviving the pandemic

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“During the pandemic our membership doubled because people were willing to keep paying for their membership because they wanted us around,” Steinman said. “I feel so grateful for our community who kept us alive during that time.”

Since their launch, The Coven has raised over $3 million from various venture capital firms and foundations.

According to Steinman, the commonality among members of The Coven is that many of them find themselves at transitions in their lives. Some are starting their own business ventures or just getting back to work and experiencing a change in their lives. 

Members have also seen an added benefit in joining a workspace centered on women, non-binary and trans people. In creating a space that breaks the usual office culture, those outside of the target audience have felt just as welcome. Things as simple as art, fresh fragrances, and room temperature were a big enough shift for those new to the space. 

“One of the biggest insights is seeing men come into this space and feeling seen themselves, even though we didn’t build it for them,” Steinman said. “Black men in particular come in and they feel seen by the art that we have represented in our space.”

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Those interested in joining The Coven have a range of options for membership. There are individual plans, teams, those looking for dedicated desks, and even single-day passes. 

The company also offers members rates for private offices and digital memberships. There are also free professional development courses available on their website for those looking to launch or grow their existing business. 

Investing in underestimated communities

Much of the thinking leading Steinman’s work at The Coven is showcasing what happens when you invest in underestimated communities, a phrase popularized by investor Arlan Hamilton to describe marginalized communities that often don’t receive a chance at opportunities due to having limits placed on the. 

“It puts the onus of creating inclusive spaces on the other side,” she said. “It’s the other people who are underestimating my abilities, and all I can do is continue to show up as my whole self and continue to fight for other people.”

With three locations in the metro, The Coven is planning to launch more locations in Minnesota and across the Midwest. They opened their fourth location in Eau Claire, Wisconsin, earlier this month, marking their first franchise outside of the state.

The Coven team chose Eau Claire for its creative community because they were interested in markets similar to the Twin Cities, what Steinman describes as “blue dots in red states.” 

Their focus is still the Midwest with possible options in the South. “We’ve got interest in North Carolina, South Carolina, Denver, [and] 15 different states that have reached out,” Steinman said. 

As they look to empower more communities across the country, The Coven has firmly planted its roots in the Twin Cities metro as it announced its plans to open a new location in St. Louis Park in 2024. 

The Coven Eat Street in Minneapolis is at 2429 Nicollet Ave; contact them at (612)-699-0850. The Coven headquarters in St. Paul is at 165 Western Avenue North, Suite 8; contact them at (651) 207-6979, or visit www.thecoven.com/community.