What Are the Benefits of Coworking Spaces?


benefits of coworking spacesBeing your own boss is great – you get to avoid the morning commute, choose when and where you want to work, and set your own hours. Nothing could be better than getting to do what you love on your own time while making money, right? Yes and no. It can be extremely challenging, and it is often glorified by those who haven’t experienced it.

Working at home or a coffee shop sure sounds like the dream, but it has its own challenges and disadvantages for business owners who are their own bosses. How many times you had trouble finishing a piece of work while sipping your favorite coffee due to noisy customers, a visual distraction from passersby, or unsteady internet connection? Or lacked concentration working from home due to non-stop TV programs and dogs barking all day long?

If you are having difficulties working at home, in the coffee shop, or in similar places you’ve tried before, why not consider coworking spaces? Although it’s a shared workplace, it is a healthy atmosphere filled with young professionals and ambitious entrepreneurs just like you.

Increase your productivity

It’s easy to lose track of work if you’re at home and constantly be preoccupied with things such as renovation projects, family members talking to you every minute, or unwanted inconveniences that interfere with your productivity. A decrease in productivity often leads to unsatisfactory work output that might result in a decreasing number of clients, which sooner or later will affect your income.

One of the many benefits of coworking spaces is that it increases your productivity by eliminating all possible distractions present at home or in public spaces. Since you’re working with other professionals from different industries, it can also help boost your creativity and drive your motivation to finish work as scheduled. Being surrounded by diverse people who share the same goal creates a positive working environment.

  • It separates your work and personal life without the toxic setup of traditional corporate offices.
  • Coworking spaces help you get fixated with growth and success, which is critical for your trade.
  • The structured environment offers a great reason to get out of bed every single day.

 

Avoid loneliness or moodiness

Let’s face it. Working alone has its advantages, but when the only voice you hear is your own, it can get lonely. Ask work from home entrepreneurs about their experiences, and they’ll tell you that it’s only good at the start. But as time goes by, the thought of working alone and the feeling of isolation becomes worse. Working at home removes one of the most important aspects of professional and personal growth: human interaction. As with all things, there’s a balance, and while time can be wasted with too much interaction, no interaction at all isn’t always healthy for us either. Keep in mind that humans are naturally pack animals and most of us find that sense of belongingness when we’re in the company of others.

Coworking spaces bring us back into the social limelight and create a healthy balance of working solitarily and social interaction. The disconnection is removed and replaced with a productive community of equally engaged individuals. A room full of working people is visually enticing as opposed to than a quiet space with no one else but you.

  • Get to know new people and make friends with your fellow coworkers.
  • It encourages creative collaboration with others through brainstorming and empowerment.
  • You’ll get to discover new perspectives from real people, not via the internet or computer.

 

Network like a pro

For your business to grow, you need to spread the word and let people discover your new venture. While working alone is effective for some people, it is unproductive for those who need to widen their consumer base. It creates a barrier between you and the people who could help grow your business. Since a coworking space is a room full of great and like-minded people and entrepreneurs, it is a treasure trove of endless networking opportunities.

Before discussing your business, make sure to build a trustworthy relationship first. You’ll want to be respectful to others before asking for referrals or recommendations. It would be wise to give referrals in return for the favor as well as a way of saying thank you. Below are some more tips:

  • Create branded promotional materials that people from your workspace can use. This could be a stapler, reusable food containers, or pens with your business details visible on the item.
  • Be a conversationalist but know your limits, initiate small talk that will lead to referrals.
  • Use the magic of swapping services to establish and broaden your connections.

Coworking Statistics

Rent space on your terms

Other benefits of coworking spaces include saving yourself from costly rent and complicated lease requirements. If you are unfamiliar with renting an office space, it usually requires a huge down payment for deposit purposes and payment guarantees. Depending on the landlord, the cost of renting an office space is based on cost-per-square-foot, and premium location commands a higher price tag.

Aside from avoiding skyrocketing fees, with coworking spaces you don’t need to think about complicated lease requirements such as municipal paperwork, arranging utilities, setting up your own station, or funding renovations and repairs. In comparison with a shared work environment, you just need to sign up and pay for the membership and you’re good to go.

  • Coworking spaces have no long-term contracts, you can use them as long as you need them.
  • Great for start-up businesses since it requires little financial capital.
  • A wide variety of choices that can go as low as $5 per day and up to $15 for premium spaces.

 

Meet with clients in a professional space

Want to meet a client for a potential project but don’t have a fancy office? Is your home not suitable for personal discussions due to being an unconducive environment? Is the noise and distraction of public places not favorable either? Shared working spaces give you the convenience of having a professional location for your clients to come and check out your business.

Most coworking spaces are equipped with facilities that are conducive for client meetings. A standard shared working environment usually provides conference rooms and private spaces complete with tools such as a projector, whiteboard, and speakers for personal discussions. Here are some tips to achieve that professional client space:

  • Make sure that the coworking space is accessible and easy to locate.
  • Check the capacity of the parking lot and reserve a space if you are expecting a client.
  • Premium coworking spaces often have complimentary beverages for clients, if they don’t offer this then provide refreshments.