Solopreneurs and startup business owners are finding coworking spaces to be the perfect solution to help their businesses grow and succeed. Rather than renting a full office building, the ease of renting a desk in a communal space may be more practical and rewarding. The benefits of this growing trend of coworking are plentiful. If you are in the process of looking for a new home for your business, consider the following advantages of a coworking space.
The cost benefit is a major motivating factor for entrepreneurs taking advantage of coworking spaces. Rather than taking on unnecessary overhead expenses, business owners can assume the luxuries of an office—e.g., ergonomic chairs or comfy couches, Wi-Fi, printers, electricity, and refreshments—without the high expense. While the costs and amenities of coworking spaces vary, ultimately coworking provides an office atmosphere without the investment of major startup costs.
Being your own boss can be lonely and let’s face it, scary. Whether you are starting your own business or working as a solopreneur, working for and by yourself can be isolating. Coworking spaces provide the chance to network and meet other like-minded business owners. Smart coworkers often rely on the support of those around them for moral support, advice, and simple camaraderie.
Many coworking spaces provide users the option of either paying on an as needed basis or month-to-month. This flexibility eliminates the risk and worry of being obligated to an office lease. Your business needs change—why not rely on a working environment that can be adapted to these changing needs? There may be times when a desk and outlet is all that you require; there may be other times when client meetings call for the use of a conference room. Coworking allows for the comfort of an office without rental restrictions.
Gives Your Office a Home
Startup businesses often rely on a coworking space for the simple reason of having a tangible working address. While not all coworking spaces offer this benefit, there are many that do. A street address, rather than the use of a PO Box, is often preferred for a more professional and established business appearance. It also provides an outlet for receiving mail.
Helps You Stay Motivated
Look around you. If you are currently working in a coworking space, chances are the folks around you are hard at work, focused, and deep in concentration. Coworking spaces are filled with creative and productive energy that can feed your own motivation and stamina. Contrast this to business owners working in a solo environment . . . these individuals may find it easier to give into the temptation of being distracted or disengaged. In a different working environment (e.g., their home), business owners may have a harder time resisting the urge to turn on the television or visit their refrigerator for the third time in an hour. Coworking offices infuse a productive environment.
Network and Promote Your Business
Smart coworkers take advantage of the networking opportunities inherent in a coworking space. Coworking offices are filled with business owners that may have need of your service. Strike up a conversation with the person beside you; you may be surprised to find that they are looking for someone with your specific expertise. You, in turn, may have a need for theirs. This business exchange – even in a bartering capacity – may be ideal to help with your business growth. Your fellow occupants can also be a source for referrals, so don’t be shy—reach out to those around you and let them know what you do.
Sets Working Boundaries
Working at home has its pros and cons. Sure, you have the ability to stop at will and throw in a load of laundry. But, you may also find that you are surrounded by things – and people – that can distract, interrupt you, or interfere with your productivity. Children, for example, are frequent culprits of disrespecting work boundaries. For them, your work-at-home status means that you are accessible, free to stop what you are doing at a moment’s notice to tend to their needs or answer their questions. Coworking spaces affords you the opportunity to go to work each day, providing your day with structure, a plan, and a refuge from household disruptions.
Helps with Growing Pains
Grow your office space as you grow your company with the convenience and affordability of coworking spaces. Solopreneurs can take advantage of a furnished and equipped space and then expand into a coworking suite as the company and payroll grows. The flexibility of coworking spaces allows you to work in an environment that can grow right along with the growth of your company.
Serves as a Reminder that You are Legit
Solopreneurs take note—your work is a business and not a hobby. Don’t fall into the trap of treating it as such. Coworking spaces have the magical ability to shift mindsets; working each day in a coworking environment can serve as a reminder that you are, indeed, legit—helping you to keep your eye on the prize and achieve all your business goals. The confines of a coworking space can give structure, routine, and accountability to your workday.
Coworking may not be for everyone, but it does offer a lot of advantages that are worth consideration. The wonderful thing about coworking is that you can try it out – give it a test run – and see if it something that works for you. Should you find that coworking is not your thing then you can simply stop without penalties attached. However, you may be pleasantly surprised.