Is Co-Working Right for Your Business?
Freelancers and digital nomads seem to be living the
absolute dream. They wake up when they want, set their own hours and get to
work from the comfort of their own homes every single day. Complete isolation
might seem like a dream to some, but to others it’s a complete nightmare. Some
of us need to be around others to thrive and working in utter silence for 8
hours a day just doesn’t cut it.
Other than giving freelancers and nomads a chance to speak
to other people in person, co working spaces are becoming more and more popular
for a variety of different reasons.
Pros
Cost effective
You might not know that office space is unbelievably
expensive. Keeping the lights on every day is one of the biggest expenses a
business faces, and some owners are using co working spaces to combat this.
Sharing an office with other companies/employees not only drastically lowers
your rent, but you’ll also be able to access more resources (like a boardroom,
or a fax machine, or break rooms etc) than you had before.
Networking opportunities
Imagine being able to meet with like minded people every day
without having to set up tedious meetings or scouring the web for new
opportunities. In a co working space, you’ll be meeting people from all walks
of life (or in this case, business) who need different services. Maybe the
designer next to you needs someone to edit their CV, or the accountant on the
next floor is in desperate need of a new website. Whatever the case might be,
you’ll have the chance to share your services with a group of people right next
door after having a chat in the break room.
Flexibility
One of the best things about co working spaces is the fact
that you can decide what you need. If you only need one desk, then there’s no
need to rent out a whole floor. You can manage how large or small you would
like your space to be.
Human connection
Networking is one thing, but people need people. Whether
your socialising quota can be filled after smiling at someone in the elevator,
or if you crave human interaction every other hour – you can do both at a co
working space.
Cons
Noise
The downside of working in a shared space with people who
don’t actually work with you, is that you cannot control your environment as
much as you’d like. There’s no way to ask an entire floor to quiet down while
you take a phone call.
Lack of Privacy
You might be able to rent out a board room for an hour or
two, but you won’t have your own office in which you can meet potential clients
or make sensitive phone calls (as we’ve mentioned above). This lack of privacy
is one of the biggest reasons why business owners prefer working in their own
spaces.
Restrictive
As a freelancer, you might be able to work comfortably from
the same spot for years. As a growing business, you might not have that luxury.
Groups of 3 to 5 people might work well in a shared space because teams that
small don’t necessarily need an entire office to themselves. But once your team
starts growing, you’ll need more space, privacy and control.
So, there you have it. Co working might not be for you or
your business, but there’s no denying that it definitely has its place in our
ever-evolving futures. Are you someone who prefers working in the silence of
your own home or in a hive of busy individuals? Let us know why in the comments
below!
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