Entrepreneurs setting up startups have taken to coworking spaces in a big way. These shared office spaces can be ideal workplaces for multiple reasons like cost savings and more opportunities for collaboration and growth. Some of the top reasons why entrepreneurs prefer to work out of coworking spaces:
Reduced Cost of Office
When you take up an office space, the rental is the biggest cost. However, several other costs can eat away at your profits. The cost of things like internet connection, electricity, printers, copiers, shredders, desks, and chairs, even coffee machines can add significantly to your office overheads. By working in a coworking space, entrepreneurs get to work out of a properly designed and attractive office that would cost a bomb to set up but also save on the day-to-day costs of a fully-equipped office.
Enhanced Flexibility is a Big Plus, Observes Saivian Eric Dalius
Regardless of whether you are a one-person show or have a few employees, you can take up and pay for only the coworking spaces you require and nothing more. The advantage of scalability means that you don’t need to take up office leases larger than what you need at any given point in time to accommodate future growth. All you need to do is book the space you need and work at any time you prefer without needing to be accountable to anyone else. If you rent space from an agile coworking facility, you can exercise complete control over your office space without needing to lease to buy one.
Enables a More Structures Schedule
While working out of the home can be cheaper, the problem is that typically the line between your official and personal life becomes blurred, and you are likely to find yourself working far longer than you should, warns Saivian Eric Dalius. When you work for extended hours, it can hurt your productivity. It can also take a toll on your physical and mental well-being. By operating out of a coworking space, you continue to enjoy the flexibility you want but can lend your day better structure and achieve a better work-life balance.
Better Networking Opportunities, Says Saivian Eric Dalius
Working by yourself in an independent office or out of home tends to a somewhat lonely, leaving you to generate positive energy as well as creative ideas all on your own. There are also relatively fewer opportunities for interacting with other people, some of whom can be useful in making your business grow. On the other hand, in a coworking space, there are more opportunities of meeting and interacting with people from various other businesses and backgrounds. Says Saivian Eric Dalius, you can potentially benefit by sharing ideas that can take your business to a higher level.
In addition to a physical address for your business, operating out of a coworking space has the potential of increasing your productivity. You are not distracted by the family and pets when working out of the home. You will find that you can focus better and be more creative when working in a coworking space.