After you have had a brilliant idea that can make you a successful business person, you can’t wait and keep your excitement to setup your work desk to get started. You want your own small office where you will start your operations from. But you think about the finances involved and it pulls you back. Funds are the key drivers of any business as you would be spending on space, team members, utilities and every small thing. To keep off startups from failing or young-preneurs from getting demotivated, coworking spaces for entrepreneurs are there to help.
A shared office space supports new businesses in setting up and existing ventures in their expansion plans. An opportunity can come to any business at any time and coworking extends its services to anyone who wishes to thrive without having to worry about hurdles of finances. Coworking is basically sharing of the same office space by multiple businesses, teams and individuals who work together yet independently. Everyone has their own job to do and while they work, they form business connections and share opportunities as well. This type of office model is ideal for entrepreneurs in many ways.
The idea of being your own boss, having the flexibility to choose your working hours, pace and place of work is very liberating. The number of freelancers and independent businesses is multiplying every year. People feel proud of being self-employed. While working from home could be advantageous, it can also be monotonous and can lead to isolation in the long run. The coworking spaces for entrepreneurs are built for people with passion. These shared offices offer every facility that will let you work better and be more productive.
How is coworking helpful in improving the performance and growth of new businesses?
One of the major reasons that give coworking spaces an upper hand over traditional spaces is that the membership is all-inclusive of the services that would otherwise be taken care of by the entrepreneurs themselves. The members of a coworking sign a basic agreement that includes the membership plan, fee, space usage rules and basic legal aspects while everything else is in the package.
Membership usually includes the following:
- High-speed internet
- A desk and a chair (or even an entire cabin)
- Access to a shared landline, printer, photocopy machine and scanner
- Fresh beverages and pantry snacks
- Use of the meeting room as and when required
The best thing about working from a coworking is that you are away from all the responsibilities of managing a workspace. You just have to focus on your job and your team against a monthly invoice. This model makes work lives so simple, even bigger firms are shifting to managed spaces.
Cooperation and collaboration
As we all know that a shared workspace has people from various backgrounds and companies along with freelancers working on their respective projects. When there are so many minds operating from the same place, they would naturally connect. Business relations and even friendships tend to be formed. Not just this, they become your first test market to suggest and give feedback. Oftentimes, there is an exchange of opportunities amongst the coworkers. For instance, a business might need a graphic designer and a freelancer is present in the premises and here happens the collaboration. They help each other however they can thereby cooperating.
Access to a premium business address
Whether you sign up for the coworking space or just the virtual office, you get access to a prime location in the city where you can invite your guests or future team-mates for important discussions. This adds to your credibility and even your customers are sure that you are a real and reliable business. Gone are the days of working from home and coffee shops. Also, you can’t just put your residential address on documents and here coworking spaces for entrepreneurs play a big role.
At home, you don’t have the environment, the space, the facilities and on top of that you can easily get distracted by doorbells, power cuts, TV noise and other sounds and chores. The vibe and décor of a coworking space is exactly the way it inspires you to think out of the box and love your work.
Being part of a community
An entrepreneur would agree that it’s not easy being one and sometimes so you get lost in work that you isolate yourself from everyone. Social life is very important for your mental health. All the members of a coworking group form a community that is basically having all the like-minded people in the same place sharing thoughts and networking. It’s like having a social life within your work life. Having lunch together, attending events, taking feedback/suggestions and enjoying small tea breaks has proven to keep people mentally active and productive. Coworking spaces for entrepreneurs provide them with a platform where they can connect and collaborate.
No capital investment and easy expansion
Since the coworking spaces are managed offices, you’ll find everything an office must have to be effectively functional. The necessary desks, chairs, internet, electricity, cafeteria, housekeeping, IT assistance, scanner/printer, landline and security is present in the same place so that members can only concentrate on their main job and look at basic utilities and repairs. There is no capital investment involved to run a business when you’re in a shared space contrary to a traditional office space that won’t provide you anything else than the property. Also, if in future you feel like expanding your team, you can always speak to the management and get the arrangements made for the new members that you would otherwise worry about if you were managing an office by yourself.
Inspire your creativity and motivate yourself
Working from home can slowly hamper your energy and creativity. Sitting in the same room, around food and coffee mugs, in oversized clothes eventually infuses laziness and lethargy in the body. There comes a point when the dear solitude becomes hurtful loneliness because you are not going out or meeting anyone. There is nothing and nobody to be inspired from.
Whereas, when you work alongside so many talented and smart individuals, you wish to be like them. One inspires to be like those they work with because you see each other’s achievements. Watching others working passionately will give you the motivation to work and create better. This is not possible when you are at home all the time.
Easy contract and simple agreement
One of the most amazing things about joining a coworking is that you are not bound into any hard and long term agreements. You can start with a monthly membership that you may renew if you wish to continue and no huge money deposits as security. As discussed, you can easily plan to change your team size without having to worry about the arrangements. Traditional spaces would always tie you in long contracts and a workspace that may either be too big or too small for your team in future. There would never be any hidden charges or terms in the agreement. It has a simple list of terms which both parties will mutually agree to be in.
Starting a business, your home would always be the first place in your mind. But keeping in view all the benefits that coworking spaces have for the emerging entrepreneurs, we know what the best option is.
Starting your own venture? Contact us today and we shall discuss the best membership plan for your business. Call us, book a tour and get started with Let’s Connect India!