Guest Blog – 5 Reasons to Grow Your Startup Business in Coworking Space
If you have been working on your business idea out of your home office, garage, or at a coffee shop, you might have noticed that the setup isn’t always working for your business.
There are not so many times that you can invite your clients to your garage or the not-so-private coffee shop for a meeting. Also, when distractions from your kids, loving husband, or the pets become frequent at home, you lack enough time to concentrate on growing your startup. This is precisely why coworking spaces exist, and they can help provide the much-needed environment for the expansion of your business.
Coworking spaces are office spaces that are shared by entrepreneurs working from different companies. They are ideal for the startup phase of businesses that need a working station for their team but cannot afford a rented office. Here are five reasons why coworking can be a superb way to grow your startup business.
1. Provision of Basic Amenities
Whenever some people think about the concept of a shared office space, the first things that come to their minds are free coffee or beer, lounging sofas, ping pong tables, and other luxuries. While these items are available in most of these spaces, other available amenities can benefit your business. Most of them provide individual workspaces with defined coworking space rules, shared printers, internet access, shared equipment such as photocopiers and printers, and 24-hour access to the facility.
At an affordable monthly rate, you get to work on your business in a comfortable environment with equipment that you may otherwise not have been able to afford. Access to the Internet makes it easy to market your startup business on social media platforms and sell your products online. With 24-hour access to the facility, you can also choose your most convenient working hours, even if it’s during the night.
2. Access to a Variety of Business Services
Running your own business from your home can be difficult, especially if you have to meet existing or potential clients. one of the major benefits of a coworking space is that there are conference rooms where you can hold professional business meetings. Additionally, the conference rooms provide equipment such as visual displays, AV equipment, and whiteboards for interactive business meetings and engagements.
These spaces also provide essential business services such as photo booths for private conversations, mailboxes and mail delivery services, billing services, reception and office supplies, package holding areas, and training spaces. Most of these services are difficult to acquire or coordinate when you are operating your startup at a coffee shop.
3. Availability of Networking Opportunities
Since the coworking industry comprises of office spaces that are shared by people from various sectors, you may find a lawyer, real estate agent, graphic designer, interior decorator, freelance writer, and career coach working in the same shared space. The diversity of industries and companies gives you a chance to network with the various individuals and their circles, gain insight, and create business opportunities for your startup.
For example, an interior decorator can meet a real estate agent who just closed a deal with a contractor. He can make connections with the contractor who may be seeking interior decoration services for the new construction. Similarly, a graphic designer may also meet a photographer requiring high-quality online ads for their social media. You never know who you will meet at the coworking space and how you can collaborate to build your businesses.
4. Flexibility to Grow
Most small business owners that can afford rental spaces start out with small offices with long leases. However, if the firm picks up quickly and expands before the end of the lease, owners often find themselves with crumbled and stuffed spaces that can limit growth and present new challenges. Since it’s hard to predict the growth of the company, it is a good idea to consider shared office space for your business.
Coworking spaces provide businesses with the flexibility to grow without lease limitations. Most of these spaces have adequate room to accommodate expanding businesses. If you feel that you need a more spacious room, you can find a bigger coworking space without having to wait for the end of the lease.
5. Source of Positive Energy
Starting a business can be exhausting and emotionally draining. When it seems like the enterprise is not picking up, one can easily give up if they are working in alone in a garage or home office. But if you are surrounded by startup owners who are facing similar or worse challenges than you, they will motivate you to keep working. Coworking spaces provide the positive energy required to sail through the difficult periods of dealing with a small business. After work, you can chat over a beer, play games, or hang out with other workers, and this will ease away the day’s pressure.
If you have been thinking about how to take your business idea to the next level, joining a coworking space is the first step to achieving your goals. Find one near you and begin enjoying the benefits of working in a comfortable business environment with other startup entrepreneurs.
Emily is a freelance writer, working closely to many entrepreneurs from various companies. At the moment, she writes for The Work Loft, a shared office space in Bangkok. Emily always spends time reading books about business to support her writing skills.