If you ask any successful entrepreneur about their journey to the top, there’s a decent chance that they will respond with a story on how they started in a garage or basement at home and went on to conquer the world. But, although these humble beginnings are inspiring, a time comes when change is necessary. Scaling up a startup means escaping the numerous distractions at home, creating more space for your employees, and giving your clients a place to find you that is better than restaurants and coffee shops. Of course, you could get an office, but if the rent is likely to strain your business, a co-working space can be the perfect alternative.
Co-working spaces are more than just vast areas with desks and high-speed internet connectivity. They’re made to be affordable, convenient and exciting work environments that can significantly improve your productivity. If you’ve been thinking of moving your startup out of your house, here are five ways you can benefit from a co-working space.
Co-working spaces offer a much better deal than offices, even the one at your home when it comes to day-to-day management. By handling everything, be it the electricity bills, internet service providers and cleaning services, a co-working space will give you the chance to manage your limited time and resources more efficiently so that you can devote as much attention to your business as possible.
Startups usually struggle to find a workplace that gives them the flexibility to grow their team while not wasting expensive office space in the early stages. If you reckon your business will have some new staff members in a few months, you wouldn’t want to sign up for a two-year office lease. With coworking, you can get the precise amount of space you want presently, and then acquire more as your startup grows.
Networking is vital for startup founders that want to build solid partnerships and clienteles. Therefore, it makes sense to find a workplace that encourages business connections. Co-working spaces foster networking and collaboration by bringing people from different companies under one roof and enabling them to interact while they share office resources. Modern coworking spaces also organize regular networking events, where you can build business contacts, meet potential customers and generate word-of-mouth references for your products or services.
New companies rely a lot on outsourcing because they’re not stable enough to sustain permanent staff. However, finding the right team of freelancers and consultants comes with its fair share of challenges. The good news is that co-working spaces are known for their thriving communities of freelancers across various industries, which means that you will have a full team that is within easy reach.
Whether you need help with web design, content creation or online marketing, it’s very likely that you’ll find a coworking member that can do the job. Moreover, since these professionals will be in the same office you’re in, you can discuss your needs with them and see how they implement them at any time.
Startup life can be tough, and you’ll probably doubt yourself more times than you can count before you finally achieve the success you want. When your bank rejects your business loan application, a supplier delays your shipment, or a client pulls out of a deal at the last minute, you’ll want smart, dedicated and hard-working people around you to motivate you to keep going. Sharing your problem with someone that knows the struggles of entrepreneurship can be an effective cure for the startup blues.
Garages and basements may be the archetypal home of new ventures, but today, startup founders have a better option. Find your business a suitable co-working space, and give it a real shot at success.