The Benefits of Co-Working Spaces for New Businesses
Definition of Co-Working Spaces
Co-working Spaces often refers to sharing office space with other people who are either independently working persons or small businesses and is a very good alternative to conventional or home offices. Co-working spaces offer the same amenities you would find in a traditional office, along with a lot more. A major differentiator is flexibility since you don’t need to sign a long-term lease in a co-working space. Every co-working space will always have basics like Wi-Fi, printers, usually, some type of conference room… and some will have tea, coffee, and snacks available.
In this article, we’ll discuss about the basics of a coworking space, how to choose a good one (some things you should look for, some things you should avoid), what types of people can benefit from this sort of space, and we’ll go over any other common questions you might be thinking about.
5 Benefits of Co-Working Spaces for New Businesses
1. Cost-Effective Solution
Price points are one of the most important factors, and often restraints when looking for a space to work for a startup company. Renting, operating and decorating an office can become extremely expensive but is required to create a functional working space.
However, co-working spaces come with all the necessary furniture, electricity and device connectivity arrangements, and other immediate prerequisites that the business needs to start operating on the go.
2. Networking Opportunities
The primary purpose of a co-working space is to encourage networking and collaboration. During a professional development workshop, for example, people can easily engage in conversation over a cup of coffee. which allow them to expand their professional contacts and potentially gain new customers. Especially for startups that rely on word-of-mouth marketing, this increased visibility can only be a good thing.
3. Improved Productivity
Professionals often find the most creative solutions by interacting with different people. New thought processes and unique perspectives are a significant benefit of working around a multitude of teams in various fields and industries and also will develop a healthy work-life balance between your workspace and your personal space. Some workers are more motivated when the people around them are productive and rely on a fast-paced office environment to ensure their deadlines are met.
4. Access to Essential Office Amenities
The co-working communities offer their members verities of amenities and services like rooms for conference calls and meetings with potential clients, outdoor porches, pool tables, lounge chairs and a balcony for relax and workplace supplies like dry erase walls, power desks and other office furniture. Some companies offer much more than the free coffee and biscuits. Anything extra is welcome and will make your employees happier.
5. Flexible Leasing Options
Another benefit of co-working space is that it allows for flexible use to your enterprise’s needs. If you need only two or three desks – you can feel free to just book these desks alone. If you need a whole wing, you can hire it. Meeting rooms are often paid per use, so you can pay for them as required, meaning that you’re never paying for more than you need.
How to Choose the Right Co-Working Space
1. Determine Your Needs
The first step in choosing the right co-working space is to define your goals. What are you looking to get out of a co-working space? Do you want a place to meet with clients? Do you need a space to store inventory? Are you looking for a space with plenty of networking opportunities? Or one with quiet, private rooms for conference calls? Make a list of your top priorities and use that as your guide when narrowing down your options. Answering these questions will help you narrow down your search and find a space that suits your needs. For example, if you’re looking for a place to meet with clients, you’ll want to find a space that has meeting rooms and is located in a convenient location.
2. Location and Accessibility
When considering the location, it is important that you not only consider a space that is convenient for you but your clients and team members as well. You should choose a workspace that is not only convenient but is surrounded by a variety of restaurants, shops and other entertainment facilities as well.
3. Office Amenities and Services
Amenities and facilities are important considerations when it comes to choosing a co-working space. Plenty of shared office spaces provide different amenities and have state-of-the-art facilities that make for a more productive place to work. It should have the necessary facilities, furniture, meeting rooms, printers, and internet access for you and your business to succeed.
4. Access to Essential Office Amenities
The co-working communities offer their members verities of amenities and services like rooms for conference calls and meetings with potential clients, outdoor porches, pool tables, lounge chairs and a balcony for relax and workplace supplies like dry erase walls, power desks and other office furniture. Some companies offer much more than the free coffee and biscuits. Anything extra is welcome and will make your employees happier.
5. Community and Culture
In many cultures people say that when you marry someone you also marry their family. Likewise, when you join a co-working space you also join its community. It’s important to understand that being surrounded by other entrepreneurs, digital nomads, and talented independent professionals is one of the biggest benefits of joining a co-working space. Making friends at your co-working space and seeing others hustle to build their businesses will encourage you to come to work each day.
Finding the coworking space where can perform well and leverage the amenities of the office space to boost your performance is extremely critical. The right decision will affect your company’s growth in great ways. However, the decision lies in your hand. You are the one who can determine what kind of coworking space works best for you. Keep the above mentioned golden rules in mind and I’m sure you will be able to successfully implement this change for a better future.
If you’re curious about trying out co-working, the best thing you can do is just to give it a shot. If you just want to go in, get your work done and then leave, and you’re concerned about any social obligations: don’t be. It’s like the gym. Everyone is there to do a very specific task, and if you are in the zone, nobody is going to bother you. If you’re open to chatting and being approached, you’ll meet some great local entrepreneurs and build a co-working community.