What is Coworking?
Coworking is working in a shared, collaborative environment with a diverse yet like minded group of small business owners, start-up entrepreneurs, remote workers, and freelancers. It’s not just Coworking – it’s community.
A Coworking community is one of the many reasons these spaces are becoming more and more attractive to business owners.
You’re not just working alone; you’re working with a group of people, which stimulates creativity, innovation, and production. Because the members of such a community all work for or own different businesses, the atmosphere is non-competitive. Instead, members are mutually beneficial and bring in business opportunities for each other.
Many people find they are more focused when working around or with others. The atmosphere of support and knowledge is exactly what you need to have a stable business.
As Liz Elam, founder of Link Coworking in Austin, said: “Opening your own business is scary. It’s a huge risk personally and professionally. Coworking members will support you…It’s a ready-made, diverse support mechanism just waiting for you to walk in and join.”
Cost efficiency and resource sharing, community learning and creativity, greater productivity, networking, and expansion of contractor base are all benefits of Coworking that will help your business grow and become successful.
Thanks to cost efficiency and resource sharing, you won’t have to spend as much time or money on setting up and creating your environment. Instead, you can focus your attention on business. The community created by Coworking allows for greater learning between community members and greater creativity. Your coworkers bring inspiration to the innovation your business needs! This supportive atmosphere leads to more productivity, so your business can be more efficient and profitable.
Coworking also leads to the expansion of your networking and contractor base. You can get more involved in the business world and connect with like minded leaders.
Thanks to these five things, Coworking can bring your business future success.
Cost Efficiency and Resource Sharing
The cost to rent out a shared space is very low, especially considering there is no cost for office management, and the office is already equipped with the required materials. Instead of spending money on furniture and printers, you can work and allow your business to grow in a space that already has them – convenient, right?
Since Coworking spaces are large, your business can grow unhindered. There’s also month-to-month leasing instead of first and last month rent on Coworking spaces. This allows for flexibility, which is necessary for a start-up. Coworking is easy, relaxed, and will help you save money on resources so that you can allow your business to grow at the right rate.
Community Learning and Creativity
The Coworking community allows for the exchange of ideas and skills. Each member has their own unique skillset and background. If you need help with something, you can always ask another person in your community, rather than paying a full consultant price or spending time learning the answer to something that another professional could simply answer for you.
Who knows when you may need an artist’s or an engineer’s perspective? The value of a second opinion in business cannot be overstated, which is why Coworking is becoming increasingly popular. Though each person may have their own skills, they all have that same passion which stimulates creativity. Your business can be current and innovative by being surrounded by this kind of creativity, inspiration, and passion. Ideas are what keep businesses alive!
Coffee houses are too chaotic, your home is too isolated, and traditional work places like cubicles are too boring. Coworking spaces are the perfect business environment to increase productivity. Though not as isolated as your home, a Coworking space still provides areas for quiet work and focus, while also providing the potential for interaction, which will keep you motivated.
In addition, this autonomy, independence, and flexibility found in Coworking spaces decrease stress. Working around or with others also creates a routine and a balance between work and life, as you can choose when to interact with others and when to quietly work. No more boring, repetitive desk job – shape your schedule to your own needs and your business needs to increase productivity and efficiency. Greater productivity means greater profits and a thriving business!
Working with and around other business owners provides you with more leads and business opportunities. It is a non-competitive environment, so each member supports and spreads the word about each other’s businesses; you become “brand ambassadors” for each other. Your brand will be more well-known through this network. You can’t be immersed in the business world if you don’t know people, so get your company known!
A Coworking space can also host networking events, which will provide even more business opportunities. These spaces make your business look more professional which is excellent in terms of marketing, and the members in such a space can share marketing materials and thus be more efficient. It comes down to this; Coworking allows you to form a network, which leads to more opportunities and results in the growth of your business.
Expansion of Contractor Base
Working with a group of highly skilled entrepreneurs allows you to expand your contractor base; instead of having to hire many people, you can simply contract out your coworkers. This saves money and is more efficient, as the contractor and the contractee will be in the same space. One of your coworkers could also contract you out, and your business can get more well-known. The more well-known your brand is, the more opportunities you will have!
Coworking is the future of business. Specifically, the future of your business. Surrounding yourself with driven and like minded people will stimulate the exchange of ideas. Innovation is the root of business. In fact, 71% of participants in Deskmag’s annual Global Coworking Survey say creativity was boosted. The flexibility and independence of a Coworking space help productivity; 62% say the standard of work improved. Being around other creative business owners and freelancers who are facing the same problems helps you to build your confidence and identity; 90% got a confidence boost from Coworking. When you are confident and driven, you can not only meet but exceed your goals.
If you need to cut costs, get your company well-known, or become the best entrepreneur possible in order to have a thriving business, contact Cowork Hudson!