Why Do People Work Better in Shared Office Spaces?

Co-working is one of the perfect alternatives to working at your own office or from your home. A co-working space offers numerous perks and a complete environment full of dedicated and hardworking professionals spread across various industries. The decision to work along with a few strangers can be intimidating but at the same time rewarding.

The main question that boggles one’s mind as a startup founder is that renting an office space is better or should one share an office space? There has been a tremendous increase in the number of multinational corporations resorting to working as coworking communities. What was once seen as only a freelancer’s domain has become an extremely viable option for most of the business houses.

It should not come as a surprise that most of the tech startups are resorting to co-working office spaces at an increasing pace.

Below are listed some of the reasons due to which people are preferring shared office spaces:

1. Flexibility

One of the major benefits of shared office space is that it offers flexibility in three main areas:

1. Flexible plans: If you plan to go for a shared co-working space, you need not worry about a year-long lease formality. Most of the private office memberships, private desks or hot seats are available on a month-to-month basis.

2. Flexible costs: With no deposit or fees requirements, and a variety of plans, co-working spaces offer many opportunities to the new entrepreneurs to keep their expenses and costs down.

3. Flexible spaces: You can increase the count of your team by five overnight! You can ditch a private rented office space if you feel you will not be available at your desk most of the time. 

Are you not sure about how much fund your startup will have six months from now? The complete flexibility provided by the co-working office spaces can lead to extraordinary peace of mind, as compared to the hassles of typical lease requirements. 

2. Tremendous opportunities to build with the newly setup startups- 

Sometimes, building a startup can create a feeling of loneliness. Irrespective of the stage of growth, there are always so many opportunities to learn new things and do new activities to grow the business and networks. Surrounding yourself with positive and well-established entrepreneurs can help in learning new skills- especially of those individuals who are working in the same industry.

Most of the well built shared office spaces host so many events for networking, mingling, and learning from the other individuals from the same industry. Whether this is done in the form of guest speaker events, educational workshops, or happy hours- locating yourself at a place where you just can’t help yourself but meet entrepreneurs who could create a difference in your business. 

Certainly, working with like-minded people will assist you in growing your startup with huge leaps and bounds. 

3. Greater access to major partnerships- 

What do you think is another advantage of working in a co-working space? You will have enhanced access to major players who can assist you in growing your business. 

When you are in a space where you are working with other startups, you will be in a better position to attract the attention of venture capitalists and angel investors whenever you are exploring new opportunities. An added advantage to this is that you will also be able to hit up networking events that might come at a later stage. These networking events will enhance the growth of your business at a greater speed.

In addition to this, co-working spaces can also serve as incubators and such co-working spaces are also able to connect their associates with other corporate partnerships. 

Many startups are hesitant to take up corporate investments, but with the right pairing, it can become a match made in heaven. Most of the large investors are looking forward to joining hands with fresh and new startups to capture new markets of relevance. When a new tech startup collaborates with an already established large corporate investor, the new ideas and knowledge reach the best limit.

4. World-class amenities and services-

When you consider leasing a private space, you will not have the luxury of just coming, showing yourself and getting to work. Mostly, you will have to purchase furniture, enhance the décor of the place, get a phone and an internet connection and try to get as many amenities as possible for the new joins and employees. 

Not only this, but there is so much do to initially. A lot of initial set-up arrangements have to be made along with the maintenance requirements that need to be taken care of well. For instance, your wireless network goes down you as well as your employees will waste a lot of your valuable time as you will be facing troubleshooting problems. You will not be able to do your work properly or perhaps you will not be able to meet the deadlines. 

The advantage of co-working space? In case of any breakdowns, you need not worry about hiring someone to complete the task for you. Most of the operational, as well as administrative tasks, are well taken care of in such co-working shared spaces. 

To conclude, most of the people prefer to work in shared office spaces to take the cost savings, networking, and flexibility advantage.