Is finding a reason to move into a coworking location difficult? One of the advantages of shared office spaces is establishing a productive and creative environment and boosting inspiration. Combine this with cost efficiency, extensive networking opportunities, business branding, productivity, flexible lease agreements and meeting room facilities. The reasons are endless for moving into a coworking office. Most startups focus on the cost of renting or the cost of leasing and overlook the additional benefits of a coworking space. You have to ensure that the chosen office space obtains ideal conditions to develop the business to scale up.
Manage business cashflow
The expenditure on operating an office decreases 70% or more if you join a coworking space. Leasing an entire office is more expensive than renting for a shared office. Moreover, businesses can leverage from the economies of scale because coworking spaces provide the essential office facilities such as printers, WiFi and air-conditioning. Your business can get straight to work without worries about electricity bills or office supplies.
The relationships in business play an essential role in developing an entrepreneur. Coworking spaces gather several companies in the same location opening opportunities to meet during on-site workshops, lunch and learn and educational seminars. Being in a coworking environment exposes you to a vast number of similar successful business owners and entrepreneurs, you’ll otherwise not meet in a traditional office environment. Joining monthly events such as after-hour business networking events and attending the lunchtime entrepreneur QnAs will increase your connections.
Where your business is located and how your customers interact with you is important so you can attract the right customers. Your business is the sum of the customer experiences and the first impressions when walking into your office. The aim is to gain recognition for all the right reasons. Entrepreneurs who set up inside a coworking space want their brand to communicate with the atmosphere, lighting, furniture and surrounding companies. This makes all the difference of appearing technology orientated, friendly vibrant or customer service focused. Compare this to running a multinational business from a home office with background family noises, kitchen cooking and children running around, will your clients felt appreciated and have the right positive experiences?
Sources of inspiration
By participating in a collaborative workspace, you have the potential to construct relationships with coworkers. Furthermore, you have the opportunity to approach experts in a specific field with their knowledge and experience with whom you can interact and get advice. People from all different industry types and professional backgrounds freely share their ideas in the coworking environment. This allows you to digest ideas from other people and develop your ideas. The creativity and comprehension that you gain from the communal office spaces are one of the most valuable benefits of working in the coworking space.
The surrounding distractions that occur when you work from home can be an obstacle to your creativity and decrease your productivity. Working from home offers you flexibility while working in offices gives you discipline and determination. As you don’t need to make a coffee for every 30 minutes to keep yourself awake. Employees become more productive when they have interaction with people who also perform to achieve similar targets. Therefore, you attain the motivation to concentrate on your goal and boost productivity.
Flexible lease agreements
There are no complex terms in the leasing contract to bind you for a long-term period. Coworking spaces provide you with a different level of membership in which you can make a yearly or monthly payment for the rental. For this reason, you can modify the number of your team members or move to a new office without the high cost.
(Read: Check out our flexible office spaces at Paya Lebar Link, Anson Road and Thomson Road)
Meetings and conferences
Another benefit of the shared workplace is that you can arrange a meeting with your team members in a professional conference room instead of a noisy public place such as cafes or outdoor tables. Also, some coworking spaces supply beverages just like an ordinary coffee shop at no cost. The efficiency of face-to-face communication without having to wait and pick an item or find a table is increased while employees can still enjoy freedom and relaxation in the coworking space.
Surrounded by success
“To be successful, you must surround yourself with successful people.” Shared workplaces are full of talented, intelligent and hard-working people. The people in this positive atmosphere will motivate you to focus on the target. Coworking spaces combine entrepreneurs and startups who have revenue, customers, graduated from accelerator programs or incubators and have a winning spirit.
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