This is a guest post written for the MELD Coworking Blog by Regina del Rosario.
In the process of creating your own company, one significant factor you have to consider is where you’ll run your operations.
Leasing your own office space might give you more control, but it can get expensive and limit the actions you can take. On the other hand, giving your employees the option to work remotely may boost productivity and be affordable, but the nature of your work may require face-to-face interactions.
Luckily, there’s a way you can experience the benefits of both set-ups. Whether you’ve just started your own company or if you’re already established, joining a coworking space can be one of the best investments to make. Just to name a few, here are four notable perks of running your business in a coworking space:
1. Lower your overhead costs
It’s a fact that coworking spaces are way cheaper than leasing your own office.
Your budget may allow you to rent a space of your own, but when expenses such as water, electricity, and maintenance costs come into play, you may end up walking on a financial tightrope. For newly-established businesses, working in a coworking space will greatly lower your overhead costs.
If you have other costs lined up, you can gain more financial freedom by merely renting a coworking space.
2. Provides flexibility
Coworking spaces offer flexibility to both employers and employees.
Most coworking providers have several service options readily available. Other than giving you financial flexibility, working from a coworking space also allows you to set your own conditions. You can choose your work schedule, the amount of space you want, and when your contract will end.
A coworking space will also pose psychological benefits to your employees. Maintaining a good sense of work-life balance can be a lot easier with a flexible environment. Some spaces are pet-friendly, have fitness areas, and even provide free snacks. Considering the needs of your employees inside and outside of work, a coworking space can help your employees maintain their well-being.
3. Equipped with modern amenities
Most coworking spaces are ergonomically designed. To boost your company’s overall productivity, they’re filled with comfortable furniture, designed functionally, and boast state-of-the-art facilities.
With a reliable internet connection, impressive amenities, and an office structure that makes communication seamless, a coworking space will help your employees perform their daily tasks with ease.
4. Promotes networking and collaboration
Surrounding yourself with like-minded entrepreneurs will open up a number of opportunities for you. You may not be working directly with other business owners, but you can make an effort to socialize and establish connections with them. You may gain new ideas on how you can elevate your business and build partnerships that you may need for bigger projects in the future.
Big companies such as Apple have benefitted dramatically by moving some of their employees to coworking spaces. By being surrounded by entrepreneurs with fresh ideas, they’re always able to innovate and develop their products further.
Global office culture has evolved over the years. Office hours have become flexible, work arrangements are more employee-centric, and opportunities for growth can be found everywhere. With trends such as the sharing economy and the start-up boom influencing the way we work, running your business in a coworking space is a modern approach that can yield a number of benefits.
There’s no one-size-fits-all approach when it comes to handling the customer care preference of your target audience. In the same way, there’s no such thing as a one-size-fits-all coworking space. If you’ve decided to rent one, you should take all the time you need to accurately reflect on your current financial condition and the needs of your business.
To make things easier, you can ask yourself the following questions:
- How much space do I need?
- How often do I need to be in the office?
- How long will my contract be?
- What are the amenities I need?
- What can my budget afford?
- Which space provides the greatest number of benefits?
Once you’ve created a list of options, keeping these questions in mind will aid you in your decision making. Always remember that successful investment is one that is beneficial in the short-term and the long run.
About the Author:
Regina del Rosario is from Arch Offices. With a solid background in conducting interviews with multiple candidates to identify the one with the most potential, she has hired over 100 applicants for positions in dozens of industries and campaigns at levels ranging from interns to upper-level management.