Do co-working spaces really help startups to structure their growth plan?.
While for any new business, working from home or someone’s garage maybe a good way of cutting expenses, eventually you may be faced with a desire to grow out of your own shadows. When you graduate to the thought of having a decent official address, the uphill task of finding and leasing workspace in a desirable location begins.
Investing in a full-scale office is not everyone’s cup-of- tea. When you are a startup, funding is a big concern and owning or leasing office space can leave deep dents in your financial plans. This is where co-working spaces offer tremendous ease and a wide opportunity for growth. Some of the reasons why co-working spaces are so popular in today’s business environment are given below.
There’s a space for every budget. There are lots of shared-work space options across all big cities in India and it is easy to find the ones that suit your needs online. Even though it doesn’t cost peanuts, it is definitely more cost-effective compared to leasing your own space, given the WiFi and other facilities that these co-working spaces offer.
Room for expansion
No business is a one-man- show. As you grow along your entrepreneurial journey, so will your need for space. With more employees on board, you have to plan for at least the next one year or so. These shared corporate centers offer switch-overs to bigger spaces in their own facility.
Co-working is all about networking. With so many different businesses and people under one roof, the opportunity to learn, exchange knowledge, and collaborate is diverse. Connecting with like-minded people enables you to feel as a part of a growing community. This also helps individuals to reach out to larger organizations, investors, lawyers, chartered accountants, and other service agencies that can prove beneficial to your company.
Besides providing basic facilities like WiFi, computers, phones, and copiers, these co-working companies have enough experience to understand the intrinsic needs of a startup. They often present a variety of services ranging from setting up investor meetings to simple things like help with accounts. These services help you grow as a business in the initial days. Besides, you can always take your neighbor’s advice.
Most budding entrepreneurs find co-working to be a source of happiness, productivity, and inspiration. You may not have a friend working with you on those late night ideas, but you will definitely find a neighbor to share your startup blues with. You will get enough motivation and strength to face challenges from being surrounded by other hard-working individuals.
Flexibility of work
Devoid of internal politics and direct competition, co-working provides employees the mental space they need to grow as part of a growing business. These shared office spaces are often accessible 24 hours a day, which gives you the option to work outside a conventional 9 to 5 work system. It also helps you to create structures that work according to your professional beliefs, while giving you complete control over your work.