13 Advantages of a Co-Working Space for Businesses
Co-Working Spaces
Coworking spaces offer a range of benefits for entrepreneurs that can contribute to their personal growth, business development, and overall success. We often utilize flexible spaces and co-working spaces while traveling. We also utilize community conference rooms for client workshops or a place to change the scene for our internal Same Page Meetings. What’s a Same Page Meeting? It’s a monthly meeting where we lock ourselves into a room - we check in, personally and professionally, knock out to-dos, and make decisions - it gives us a chance to have dedicated work time and conversations.
There are numerous reasons a coworking space might be the right fit for your entrepreneurial journey.
13 Advantages of a Co-Working Space for Businesses
1. Cost Savings: Coworking spaces provide a cost-effective alternative to traditional office spaces. Entrepreneurs can save money on rent, utilities, and office equipment since these expenses are shared among all the members. This is always a great perk, especially as you start a new venture. Keeping your overhead expenses low is key, my friends!
2. Flexibility: Coworking spaces offer flexible membership plans, allowing entrepreneurs to choose the best one that suits their needs. Whether you need a dedicated desk, a private office, or occasional access, you can find a plan that fits your requirements. We use flexible spaces likes these often for bigger client meetings, strategic planning retreats or just a place to “get away” for a bit.
3. Networking Opportunities: Coworking spaces create a vibrant community of like-minded professionals from various industries. This environment fosters networking, collaboration, and knowledge sharing, potentially leading to partnerships, clients, and valuable connections. If you are looking for some great networking tips, check out episode #21 Machaela Clark's Networking Tips: Going Beyond the Business Card with Authentic Connections
4. Collaboration: Being surrounded by diverse individuals and businesses can lead to unexpected collaborations and partnerships. Entrepreneurs can find experts in different fields who can contribute to their projects or offer insights they might not have encountered otherwise. It’s refreshing to bounce ideas off of other people and think about your business in different ways.
5. Productivity and Focus: Coworking spaces are designed to provide a productive work environment. So if you are easily distracted working out of your home or in a busy coffee shop then a co-working space may be just right for you! They often have amenities like quiet areas, meeting rooms, and ergonomic furniture, helping entrepreneurs stay focused and motivated.
6. Access to Amenities: Many coworking spaces offer amenities entrepreneurs might not have in their home offices, such as high-speed internet, printers, scanners, and professional meeting rooms. These resources can help entrepreneurs operate their businesses more efficiently without you having to put out a bunch of cash for expensive office equipment. Score!
7. Professional Image: Meeting clients or partners in a well-equipped, professional environment will enhance your credibility and leave a positive impression. This can be particularly valuable for startups that are still building their reputation. We have found this true over and over in business over the years. Where you meet clients does matter!
8. Work-Life Separation: Coworking spaces can provide a clear boundary between work and personal life, as entrepreneurs can physically leave their workspace when the day is done. This separation can improve how you juggle your work and personal life. Being able to “walk away” at times is huge. Check out this blog post for more on why we think Work-Life Balance is a Lie.
9. Learning Opportunities: Many coworking spaces organize workshops, seminars, and events to help entrepreneurs develop new skills, stay updated on industry trends, and learn from experienced professionals.
10. Global Reach: Some coworking spaces are part of international networks, allowing entrepreneurs to access workspace and resources in different cities or countries. This can be advantageous for those who need to travel for business purposes. Vivian has utilized co-working spaces worldwide while traveling and working and her “chance” encounters have been incredibly beneficial and enriching.
11. Motivation and Inspiration: Working alongside other motivated and driven individuals will inspire you to set higher goals, overcome challenges, and maintain enthusiasm for your ventures. You don’t need to do this on an island; surround yourself with people who will lift you up! Be sure to follow the Riding Tandem Podcast for more encouragement and inspiration too!
12. Reduced Loneliness: Entrepreneurship can sometimes be isolating, especially for solo founders. Coworking spaces provide a sense of community, reducing loneliness and providing emotional support.
13. Scalability: As your business grows, many coworking spaces offer the flexibility to expand your space or upgrade your membership to accommodate your evolving needs without having to buy, sell or rent property on your own, which can be a complicated distraction.
Coworking spaces offer a dynamic and supportive environment that can benefit entrepreneurs by providing them with resources, connections, and a conducive atmosphere to nurture their businesses. Your experience can vary depending on the coworking space's culture, location, and the nature of your business. Tell us your experience with co-working spaces in the comments!
Check out this story by Channel 3 News in Omaha, which features our very own Vivian Kvam giving her thoughts on co-working spaces. https://www.3newsnow.com/money/consumer/business-news/co-working-space-coming-to-council-bluffs-entrepreneurs-feed-off-each-other