Connections and Collaboration
Collaboration is a benefit cited by many entrepreneurs who have gone this route. Coworking spaces house a multitude of industries and skill sets that can come in handy when you need assistance, and entrepreneurs are more likely to offer free or heavily discounted assistance to others in the same workplace. Also, this essentially fosters affordable innovation and growth in a market where endless funding and expensive expert assistance isn’t always available or attainable.
Here is a quote from the founder of a company which uses coworking spaces around the globe: “In Vietnam, I was able to hire a fantastic branding expert & graphic designer I met coworking. In Thailand, I formed a mastermind with an Amazon seller and taught him traditional e-commerce marketing while he showed me the ins and outs of Amazon. In India, I met a photographer and potential future business partner, and the list goes on and on.”
Built In Clients
Coworking helps you find new clients and facilitates new introductions that you would have never made otherwise. If your target customer is entrepreneurs, and there is no shortage of them in these spaces. Are you a marketing firm? There are plenty of companies looking for ways to market themselves. Financial firm? Again, you’ll find almost every place needs your help to handle their finances. So you get clients more easily in a coworking place than anyplace else.
A Productivity Boost
Feeling scattered? Unmotivated? A coworking arrangement may be just what you need. For someone with anxiety and depression, being in a coworking space rather than in somewhat isolation reinvigorates your sense of purpose and belonging.
Unlike many office workers who wish they could work from home, people in coworking spaces actually looks forward to going to the office. And that’s because you have fun while working here, which amplifies your productivity.
For many entrepreneurs, hiring their first employee is a major milestone and it can be terrifying. How do you know you’re hiring someone you’ll work well with? For people in coworking spaces, it is easy. We found our intern —an engineering student—for marketing and content writing this way. The intern we hired told us that venue was one of the reasons he came on board. He told us that “Coworking space is …. a big plus over working in a corporate office”.
You may find a coworking space isn’t just a place to work—it may offer opportunities to bond out of the office as well. At WorkAmp, we often use coworking outings to build stronger team relationships at the company. Not only do you get to work together from a new spot, but you also get to explore new neighborhoods, try exciting restaurants, and discover bars and other venues you would otherwise have ignored.
A Cool Factor
There’s an unexpected perk of working from a coworking space: it’s cool. The meeting and common areas provide an extremely upbeat and trendy environment for your team to work and host meetings and events. Your clients are often impressed when you bring them to such a cool workplace. And for a company that’s part of the sharing economy, it probably doesn’t hurt to participate in such a visible way.
An Entrepreneurial Education
Coworking spaces can be learning spaces as well. The people who are running the coworking space can learn about a new field like ‘Business credit’ and ‘Financial management’ to support you in your endeavors. You can learn about different topics from your coworkers to help grow your business.
Entrepreneurship can be a rocky road, and getting stuck in a long-term office lease can sometimes be financial suicide.
The ability to tailor space to current needs is another reason why this option is very attractive to young and growing companies. Coworking spaces allow for the flexibility for growth, as leases are short and changing office space is usually simple.
An Empathetic Ear
Above all, most entrepreneurs seem to value the social interaction they get from these places.
Running a business is freaking hard. It has the highest highs and the lowest lows. Having people around you that understand and can talk through issues is surely a blessing.