Starting a business is exciting. You’ve exchanged a boss and a commute to a corporate office for self-employment with the freedom schedule your own hours and working where you choose. Over time, though, home offices can create distractions leading to low productivity and cut you off from the rest of the business world. And coffee shops, they were never meant to be business environments. This is where coworking spaces come into the picture.
Studies show that running your business from a coworking space may improve your odds of successfully growing and sustaining your business. In a September 2018 study, researchers discovered that coworking creates more positive interactions and boosts productivity for entrepreneurs.
Coworking spaces are on the rise too. Small business owners are quickly seeing the benefits of using flexible workspaces. They allow you to build your company within a community with like-minded professionals motivated to succeed. If you’re an entrepreneur looking to build your small business, here are a few ways coworking can help you achieve that:
Low Overhead
Coworking is plug and play. Once you’ve located a coworking space and decided on a shared space or private office, you simply pay for that month and immediately occupy it. There are no expensive long-term leases, maintenance costs or janitorial expenses. Included in the cost many coworking memberships is access to conference rooms, as well as office supplies and equipment like fax machines, printers, audio/visual equipment, and conference phones. Plus, meeting with clients in our conference room adds a layer of professionalism that coffees shop can’t provide. Depending on the terms of your membership, you may even have 24/7 access to your office space.
Easy Expansion
Since the terms of your membership agreement are monthly, if you want to scale your business, you can easily go from using a shared workspace one month to occupying a private office the next. The best part is you don’t have to leave the building.
Daily Networking
Running your business from a coworking spaces puts you stocked pond of entrepreneurs looking to grow their businesses. Seeing and engaging other professionals daily creates familiarity and trust. Dr. Ivan Misner, founder of BNI (Business Networking International) says referral-based business growth and profitability stems from continued visibility and credibility. Getting to know your fellow community members and what they do allows you to become a great referral partner for them and vice versa.
Educational Opportunities
Many coworking spaces invite guest speakers from the business community to host educational seminars. Take advantage this opportunity to learn from experts hand-picked to teach on topics your business can benefit and grow from.
Collaboration
You’ll find entrepreneurs from various industries within a coworking space. Getting to know what each person does and finding those with complementary services is great way to build your business. On top of that, you can brainstorm with other business owners or seek business management advice from those around you.
Work-Life Balance
When working from a home office, the lines between work and family can be blurry. Building your business from a coworking space means—more often than not—that when you’re home, you’re home.
At Work/Place, our flexible coworking space allows self-employed small business owners like you the chance to do all of the things mentioned above. With all of these perks and amenities at your fingertips, you can focus on growing your business on a solid foundation. If you’re ready to leave the home office or ditch the coffee shop, contact us today to see our facility.
