Coworking is becoming more and more popular as prices of independent office spaces are soaring. Buying office space, especially in New York, is getting quite expensive these days. When exploring options for yourself or your company you are surely going to come across a few coworking spaces. When considered one of these spaces, make sure to take note of these advantages and disadvantages first! To find out if a coworking space is the best option for your startup, analyze its pros and cons.
If you enjoy the convenience that state-of-the-art offices offer but don’t have the cash to pay for it, a co-working space may be the solution. You’ll have access to copiers/scanners, fax machines and possibly freelancers willing to perform helpful tasks. Because it is a shared environment, the costs will be far less than a private office. You also won’t be forced to sign long leases and you’ll maintain freedom and flexibility.
You can never make too many connections while you’re building your business. What better place to construct a solid network than a communal work environment? Besides being around other self-starters, many co-working spaces provide access to venture capitalists, angel investors and professionals, like lawyers. Who knows? Maybe you’ll discover your next colleague while having a coffee in the break room or land your first investment.
Sometimes, it can take an extensive amount of time and energy to figure out solutions to our problems. By being in a collaborative work environment, you can reach out to other entrepreneurs to get their advice. Often times, they will have experienced a similar issue and may offer a creative solution or practical suggestions.
You get support for technical challenges
It is always nice to have a team who is up for taking on technical challenges and swapping insights. For example, if you’re sharing office space with a tech startup, you will be able to deal with various problems without having to spend any extra money.
A co-working space is supposed to increase productivity -- it’s not an excuse to watch hilarious clips online or have nuanced conversations about last night’s basketball game. Remember, you’re there to work. Keep the socializing to your scheduled breaks.
It is possible that you’ll find yourself in direct competition with someone sharing your co-working space, and it can be a bit uncomfortable. Stay focused on what you want to achieve. If you can, try to turn a potential competitor into your ally. If you’re both talented and have similar goals, maybe the best way forward is to put your heads together.
The people at your coworking space become your coworkers, in a sense. This means dealing with personality quirks and annoying behaviors, just like any office space. Most people are pretty great, but one rotten apple can spoil the whole experience.
Now that you’re equipped with all the facts, are you still stoked about a coworking space? Or would you rather work from your bed in your pajamas? Let us know.