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Advantages of Using a Co-working Space
Learn how to use a co-working space and its advantages, including pricing, amenities and much more.
Deb Moher
Despite the advantages of being your own boss and however idyllic it might sound to work from home in your pajamas, starting your own business can be isolating and full of endless distractions. This is why an increasing number of entrepreneurs are now embracing the co-working space, where self-employed individuals come together and share a range of facilities. Co-working spaces have become extremely popular, with new spaces popping up worldwide.
A structured co-working space can give entrepreneurs control over their working life. But more than that, it can provide support, opportunities for networking, and potential for business growth. Co-working spaces offer a positive vibe, encouraging productivity and a positive working environment. Read on to discover more benefits of a co-working space.
Economically Smart
Although working in a coffee shop might seem like a smart economic move, you’re more than likely to find yourself paying for a few coffees and maybe even something to eat to keep up your energy.
A far better investment would be to pay a small monthly fee for a co-working space that offers you access to a desk area, meeting rooms and in many cases unlimited coffee. Some co-working spaces also offer flexible, weekly, and sometimes hourly rates, so you’re never locked into a scary contract. More established co-working spaces can charge up to $125/month, depending on location and amenities, but there are still many who charge as little as $25/month.
Fewer Responsibilities & Flexibility
Renting out office space requires a host of responsibilities, ranging from long and expensive leases, to building maintenance. Co-working spaces remove that headache and allow you to enjoy the services that come with it—hassle free. Select co-working spaces offer yoga classes, a gym membership, networking events, business seminars and happy hours.
Most co-working spaces are available 24/7, which means you can decide exactly when you want to put in a long day, schedule your meetings, or choose to take a break and visit the gym.
Networking and Collaboration
A disadvantage of working in an isolated environment is the lack of like-minded people around you. When entering the world of startups and entrepreneurship, it’s vital to have experienced individuals around to bounce ideas off — not to mention the networking factor. Most co-working spaces offer open plans and are an effective way to exchange information and knowledge with those around you.
Another convenience of being close to other businesses is the opportunity to expand your own company. There will likely be co-workers around to give you advice or assistance and at the same time offer up your services to those in need. You don’t necessarily need to spend the day schmoozing, but by starting up authentic conversation with co-workers, you’ll be able to figure out your target markets, and how to potentially generate leads.
Provides Structure
Some people can work well from home with the TV in the background and an overflowing laundry basket, but for most of us, a neutral space away from personal obligations is a more productive environment. A co-working space encourages you to get up early and have a concrete location to go to, just as you would in a 9-to-5 office job. It can also help you establish an important separation between your work life and personal life, so you’re not left scrolling through emails on a dinner date. A co-working space doesn’t limit you to sitting at one fixed desk, most co-working spaces allow flexibility in terms of seating so you can move around the space as you wish, promoting creativity.
Be Part of a Community
We tend to thrive as part of a group or community and when you join a co-working space you attach yourself to a ready-made community of mutually-supportive digital nomads, freelancers, and remote workers. Your business might be your first priority but your mental well-being is just as important, and working in an environment where members want to help each other allows you feel a strong sense of identity. Even if you don’t necessarily interact with people around you, just having some human contact can be energizing and inspiring.
Make a better impression
Working remotely means you might have video meetings with clients or colleagues, but without a quiet space, these meetings might leave the wrong impression. Imagine taking a call in a noisy coffee shop for instance. Most co-working spaces understand this need and have private conference rooms on rotation for members to take advantage of.
They are set up with conference calling equipment and can be a fantastic resource for those working with clients. If you wanted to set up a physical meeting with potential clients, a co-working space offers a professional environment to host them in, with a private room to make presentations. When reaching out to business partners or investors, leaving the right impression could make all the difference when it comes to the success of your venture.
How to find the right co-working space for you
Not every co-working space is going to fit your needs. Naturally you’ll want to find the ideal location combined with the rental price you can afford. Before you sign up, check out what amenities are included in the rental fee so you won’t be left paying extra. Most co-working spaces have a website where you’ll be able to either request more information or directly sign up. Make sure you ask about networking events and any other benefits.
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