The 3rd, formerly known as The Well, is a Columbia-based 501(c)(3) for female entrepreneurs of color, aimed at building cooperative workspaces and networking opportunities. In 2020, the founder and CEO of both ventures, Laura Bacon, set out to meet and speak with as many people as possible to spread the reach of The Well. Then, the pandemic changed everything, necessitating a pivot into a new idea. The challenges of the pandemic helped the nonprofit evolve from its original idea, The Well, to something Bacon felt was more in tune with her ultimate goal. The 3rd is derived from the concept called “The Third” coined by sociologist Ray Oldenburg where home is the first space, work is the second space, and the third space is the areas where ideas are exchanged, a space to have a good time, and build relationships.

“My talent is putting all the right people in a space to make something special,” says Bacon. “We definitely have high expectations of The 3rd.” The switch to virtual business has been the focus for the majority of us working from home. The key is seeing the switch as an opportunity, one that Bacon recognized, helping The 3rd grow during a time where the outside world seemed to pause.

“I get to be more one on one; I feel most (like) myself when I get to introduce people to The 3rd. And as much as I don’t like constantly being on Zoom, I can meet 16 people in a single day,” she says of the switch to virtual meetings. Women of color are introduced to the virtually limitless potential of Bacon's cooperative workspaces, designed to support their businesses. The 3rd will host a café, small stores featuring local women of color owned brands, dedicated office spaces and conference rooms, a podcasting studio and a commercial kitchen.

The incorporation of retail spaces into the proposed workspaces is intentional, lending itself to increased visibility for locally made goods as well as enriching the networking potential of The 3rd. “Sometimes concentrating your focus and adjusting the scope is the way to go. I feel anything we invest in women of color and whatever we’re starting...benefits everybody in the community," says Bacon, "It's a gift back to the community.”