A co-working space is a setting that resembles an office. The whole idea was to have different individuals coming together and sharing an office. It was intended to increase productivity and create a community-like environment. In co-working arrangement, the desks and other amenities such as conference rooms, free Wi-Fi, coffee, printing and video conferencing facilities are provided. According to an investor at a reputable Coworking San Francisco, the concept is increasingly becoming popular to business startups because of its numerous benefits. Here are some
There is no denying that leases are expensive to draw and service. The additional cost of buying office furniture and other amenities may be too capital intensive for a startup. Co-working will provide the start-ups with the access to high-end offices.
In the months when business is low, an entrepreneur can decide not to take space or just sign contracts for a short-term period. This is advantages compared to commercial leases which are supposed to be paid for regardless of the level of business.
For any business to grow well, networks are needed. These networks cannot be created when somebody is working alone in the house or coffee lounge. Apart from other starters, co-working spaces will have angel investors, venture capitals, and professionals from other diverse fields. You might find yourself striking a business deal at the water dispenser.
Secondly, when working alone, you may take a lot of time and money trying to work out a solution to a problem that is always nagging you. This cannot be the case since you can talk to other start-up founders and get a tip on how they solved theirs.
Other entrepreneurs’ advice may provide you with a platform to come up with other better ideas.
Enhances Communal Spirit
Working alone creates loneliness and is also tiring. Human beings are social creatures and enjoy companionship. Studies show that when you work alone, your mental well-being is negatively affected. In a co-working environment, interactions are critical since they make you social, happy and energized. You are likely to turn to the person in the next workstation to share your experience and seek advice. Since most people who use co-working spaces are entrepreneurial, these could be the incubating grounds for more brilliant ideas.
Self-employment brings the challenge of lacking somebody to supervise you. You are only answerable to yourself. If you have no self-discipline, you may veer off the track. When you are at home, there are so many distractions such as pets, TV, family members, and music systems.
In a co-working space, the presence of other people will give you motivation and inspiration to take an extra step every day. It also provides the much-needed structure to work properly.
When people work together, they tend to create a mindset and energy that become infectious. Corporate world is also penetrating into co-working at a fast pace as well. You will not only work like them, but also their success will make you aspire to be like them. From the advantages enumerated above, co-working is the way to go.