Advantages Of Working From A Co-working Space
Co-working spaces have sprung up in major cities around the world and their popularity increased due to the benefits enjoyed especially by freelancers and entrepreneurs & also business owners. Co-working spaces are shared offices where different small companies and individuals share an office space, but work on separate projects.
The benefits of these co-working spaces are numerous, especially with the reduction in cost of renting an office space for a single business or an individual, and the availability of conference rooms, internet services, office furniture, as well as the possibility of collaborations among the entrepreneurs.
There are many undeniable benefits of working in a co-working space such as the professional space that impacts the individual (at various levels) and business, business growth, and the low overheads. However, there are other less-tangible benefits. These include;
i) Boost to productivity and creativity
Working from home or alone in an office can reduce productivity and pose many distractions as opposed to working in a co-working space. Such a space has a lot of people focused on meeting deadlines and goals, which can be motivating and lead to an increase in productivity. Additionally, you can experience a surge in your creativity by getting inspiration from others in the office, and from advice that is readily available due to the different professionals in the office.
ii) Networking opportunities
A co-working space hosts a lot of different professionals where one can improve their network, gaining clients, friends and even employers. The community of members also introduces each other based on shared interests, careers, and niches, where you can easily build a network of people to work with. In this space, it is also possible to get new employees, freelancers as well as employers to collaborate with on different projects, elevating your network. In addition, the co-working space exposes you to like-minded people who can connect you to industry events as well as offer advice or critique on your projects. Since most people in such an office are working towards building their startups, it is easier to learn from each other and build strong networks.
iii) Improved accountability
Many self-employed people find it hard to hold themselves accountable for their time and money especially those who do not have an office. A co-working space means that you will pay for the office space as well as the shared amenities. Therefore, you are more likely to keep time and update all expenses. Additionally, you have other people who can hold you accountable especially after building relationships and setting team goals. The space also provides motivation for an individual to keep up with the rest and ensure their business does well.
iv) Availability of a comfortable business-friendly work-space
Working from home poses a lot of challenges such as poor internet service, poor quality furniture, lack of appliances, and lack of conference room for meetings. However, a co-working space has excellent business-friendly amenities that can make working easier, and enjoyable for a startup. You are in a better position to schedule meetings with clients and incur no extra costs while in a co-working space. This can be advantageous since some clients can decline working with a business that has no office.