7 Benefits of CoWorking Spaces for StartUps
Co-working spaces have started attracting most of the entrepreneurs and startups. A good working space is a must as; otherwise, a startup may not be able to get success. By having a proper working space, startups are able to make more profits and achieve growth in a short period of time. Every startup may not be able to afford rent, and that’s why getting a co-working space has become highly beneficial. I’m listing down the different benefits of co-working spaces for entrepreneurs and startups.
Even if the trend to go for a co-working space is very new, it is definitely attracting entrepreneurs. If you’re an entrepreneur or thinking of becoming one, then you should definitely think about the idea of starting your entrepreneurship journey with a co-working space.
Image Credits to toonsteb at FreeDigitalPhotos
Table of Contents
What are the Benefits of Co-working Spaces for StartUps?
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Saving Up on Office Lease
If you can’t afford to get an office on a lease, then definitely a co-working space shall be the best option for you. Co-working space shall cost you much lesser than what you’ll end up paying for getting a good office on lease for a particular time frame. You can yourself compare the monthly lease amount and the expense that you’ll be incurring for getting a co-working space.
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Helps in Networking
A co-working space is very advantageous when it comes to networking. Many professionals will be surrounding you, and that will definitely make networking easier. Finding a new client or an investor may not be difficult for your startup if you’ve got a good co-working space having some of the best professionals working on their startups.
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Proper Internet Connection
An online startup won’t survive for long team if the team members are not provided with good internet connectivity. Most co-working spaces have good internet connectivity, and even getting a broadband connection shall be much easier. You won’t have to waste your time finding out the different internet providers in that locality.
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Other Entrepreneurs Will Bring Motivation
Making a startup become successful may not be as easy as you think. When there are other entrepreneurs around you working in the same co-working place, then definitely your startup team will also get some motivation. Having like-minded people in the same place has been one of the reasons making some startups get more success than what the co-founders expected.
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Office Essentials Easily Available
Many co-working spaces come with office essentials, which are very beneficial. You won’t have to waste time in arranging a good desk space or a conference room. Before you finalize a particular co-working space, try to know the different office essentials you’ll be getting with space. Some co-working spaces are also equipped with shared facilities, including printers, the internet, etc.
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New Ideas for Your StartUp
Collaborating with other entrepreneurs working in the same place may help you in getting some new ideas for your startup. You can’t keep working on the same ideas as sometimes implementing some changes becomes a must. Some of the experts working in the workplace you’re sharing may often suggest you the best ideas for your startup.
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Increased Productivity
Productivity is something that most of the founders of startups stress for achieving success. If the people working for the startup are not hard-working, then the startup can face failure. One may not like to waste time when there are highly professional people working around.
Choosing the Right Coworking Space is Important
One of the mistakes which some entrepreneurs do is that they choose the wrong co-working space. Before you finalize a coworking space for your startup, make sure that it is not overcrowded and has all the facilities that you require.
If there is no proper internet connection available or the internet speed is very slow, then that place may not be suitable for your startup.
You should completely avoid a co-working space which is not equipped with proper facilities.
A good location is a must as then only the team members will be able to commute easily and reach the working place at the right time. Most of the founders prefer co-working space, which can be easily reached by using different modes of transport.
Some of the startups wish to share the co-working space with startups, which are already successful.
Don’t be in a rush to get a co-working space as a good co-working space could make your startup achieve success in a short period. It is a must that you should spend some time knowing everything about the co-working space that seems to be the perfect one for your startup.
After knowing all the benefits of a co-working space, you may definitely think about getting the best co-working space for the first startup. The increasing advantages of coworking space have become one of the interesting topics to talk about among entrepreneurs. Do you prefer a co-working space or getting an office on lease for a particular duration?
Interesting idea, and helpful. Good article!
Thanks Eva. Coworking spaces are very useful for startups who can’t invest much in the start. Small teams may easily be able to work properly by getting a coworking space.
I am too looking for sharing space, till the time I could afford my own. The advantages mentioned are really good.
Nice Mohit, I always reading your blog. Because you always posted a great content and article title. Thanks and keep it up !!
Coworking spaces are, in many ways, exactly like the stereotype you’re probably picturing — free organic coffee (and sometimes beer), couches for lounging, ping pong or football tables and a sea of young people busy on Apple computers. While these kind of amenities may be the first thing that jumps to mind when you consider joining a coworking space, the real value is under the hood. Here’s a list of key benefits you should consider.
Nice article and give complete information about coworking space and it benefits. If you have free space in an office or at home list and let it be used by others. Sharing economy and coworking is a great way to share ideas and maximise creativity.
I am already sharing the space and really helps me a lot.
Thanks for the article.
There are many like you who have become successful because of the co-working space that they have been sharing….Keep on achieving success in your life.
Interesting post. Great idea shared. Thanks a lot.
A very interesting article and one that really dissects the whole industry and option of co-working spaces. I have always been in two minds about them thinking if they really are important as one would be scared of their ideas getting stolen. But, in terms of cost sharing and networking this can really be beneficial. Obviously as you said choosing the right space is very important. Thanks
Mike Lee you’re right that co-working spaces have some advantages as well as disadvantages. Some totally like co-working spaces, while some don’t like it as they feel that their ideas may get copied or the workers won’t be able to focus on their own work. In future many bloggers and startups will go for co-working spaces as they are cost friendly.
Its necessary for an entrepreneur or a startup to have an office from where they can conduct meets and any other office components. Here comes the coworking space to help such entrepreneurs and startups, there are many benefits one can get by choosing the coworking space.They are-
1. Coworking space working hours are flexible as yours-
2. Coworking spaces facilitate in developing valuable professional connections
3. Coworking spaces offer the great companionship in the workplace
4. Beautiful interiors and modern office amenities will inspire you
5. Providing stability