Where should you develop your startup company? Should it be in
a traditional office? In a loft or garage? Or at home? The choices are numerous.
We all require the social interactions and energy that an
office can bring us, however many start-ups simply don't have the budget to
rent out office space. But there is another option.
With an eye on their wallets, many startups are turning to
co-working spaces to develop their companies. These offices allow freelance contractors, micro-businesses
and startups to share an office, with fully functioning conference rooms,
photocopiers, and most importantly access to other entrepreneurs and peers.
For contractors and startups, co-working can provide a great
opportunity to work with peers, develop a support network, have office space to
show off during sales meetings, and all without the cost of a more expensive
lease.
Here are some advantages to a co-working space for your
startup:
1. Saving your money.
It can be costly to rent an office for a new startup –
especially if you’re bootstrapping. You not only have to account for the rent
but all the utilities and extras that you will need as well. This can take a large bite out of your
company’s budget.
Co-working office
spaces reduce your need to sign an expensive lease or buy office equipment,
such as photocopiers and fax machines, as they are shared at a fraction of the
price. Rent is cheaper too, as you will
be sharing the cost between all of your co-workers.
2. Networking, collaborating, and making friends.
The most praised benefit of a co-working space is the
ability to network and build strong relationships with the people you work alongside.
You will learn about your co-workers’ background and skills, sharing business
experiences and even new ideas.
Working with other entrepreneurs and freelancers will put
you in proximity with individuals who could help your business. You could meet
new clients, prospective investors, or you could even meet your next partner.
3. Creative
collaboration and problem solving.
You will be working side-by-side with a broad group of
entrepreneurs in the office. If you ever have a challenging problem that you
can’t solve, you can easily have a conversation with someone who may have faced
the same issue.
You can discuss your ideas with others who have different skillsets
and possibly can provide you with an alternative view. The combination of
different experiences, approaches and personalities often provide new ideas and
solutions that you simply couldn't have come up with on your own.
