Written by Usman Ali of TheDesk Coworking Space.
Running a startup is undeniably one of the most challenging career paths to take, because it comes with a huge factor of risk. It all starts with an idea that you are working on, which grows into an investment, with a certain level of faith in it turning out to be a success.
To increase your chances of success, a startup will need to consider both the external and internal factors affecting its product, service, and business overall. One of the most important external factors that plays a large role in the success of a startup is your “workspace".
Benefits of coworking spaces
The concept of coworking spaces is growing at a rapid pace, with almost all entrepreneurs considering it as part of their business journey. If you find yourself in a similar situation, and you are currently working from your home office, take some time to weigh up the benefits of a coworking space, and whether it’s right for you.
Whether you are a digital nomad, a freelancer who wishes to work in a productive and creative environment, or an entrepreneur looking to grow a team, you can realise all of these dreams in a small coworking space that’s right for you.
1. Work more flexibly
The very first reason why coworking spaces are trending right now is the flexibility they offer. A coworking space can provide you with more than extended working hours, too: you will be working on your terms, with an official place of business, and you'll also have the flexibility to choose what times you work. On top of everything, there's no long-term contracts involved in coworking spaces, which can be a significant relief for the new startups.
2. Network in your industry
Innovation doesn’t often come from a single brain doing all the work; in fact, there’s always at least several people, joining their heads together and working together on an idea, to make a business really work. Having your own office is an excellent place to start, but what about the networking? Perhaps you’re looking for a mentor, or someone to partner with. Many coworking spaces are focused on a specific industry or interest - you may also wish to socialise with people in your industry, and sitting with those who are struggling with a business idea, the same as you?
In a coworking space, you can surround yourself with people who can bring new ideas, different skills and creativity levels, which will all come in handy to you and your business.
3. Learn from others
Similar to the above, when you surround yourself with people who are in similar situations to yourself, you can also learn from them, and spark innovation too. For an innovation to be successful, collaboration is imperative, and that's exactly what a coworking space provides. You get to share ideas with other people, you get to learn the types of struggles they are facing and the different experiences everyone is going through. When you are working with likeminded startups and other entrepreneurs under one roof, you can truly benefit from their collaboration.
4. Share team spirit
Being surrounded by professional, passionate people who are always motivated can be great for you and your team. Believe it or not, team spirit matters a lot when you are working on a startup. By opening yourself up to the opinions and ideas of others, you can benefit from testing your product, marketing ideas, and similar ventures with people you trust first. You can make the most of your coworking space by similarly speaking to people who you trust, and get their opinion on things before you go out to your customer base. Sit with people who are passionate and motivated, interact with them and get the best out of them, and in turn they can help get the best out of you. Look around, and you'll find that some of the most successful startups today started with small coworking spaces instead of significant investments in big office setups.
Summary
These are just a few things that explain how a coworking space can impact and change your startup game. The truth is that there's a lot more than just these four benefits as to why you could opt for a small coworking space right now. Coworking spaces may be a trend, though it's predicted that in the next few years, we’ll be surrounded by shared offices spaces for flexible businesses.