Coworking Space Benefits | Why Most Startups Thrive In Coworking Spaces
If you’re curious about coworking space benefits for your startup, you’ve come to the right place. In this article, the experts at Bond Collective show you why your business will thrive in a coworking environment.
10 Coworking Space Benefits That Will Help Your Startup Thrive
1) Low Overhead
The necessities of today’s modern office space make it one of the largest expenses your fledgling startup will face. Furniture, decor, technology, repairs and maintenance, cleaning — these costs add up quickly and can put a serious dent in your working capital.
But with coworking spaces, everything is taken care of. You and your team can walk in, find a place to gather, do your work, and leave. All for a low monthly fee that is considerably less than you would pay if you maintained your own office.
When you weigh the benefits of coworking space against the benefits of owning and operating your own office, you’ll quickly see that a coworking space makes good sense (and cents).
When you work on one product or service hour after hour, day after day, you tend to form a tunnel vision of sorts. It’s necessary to focus on building your startup, but when you’ve repeatedly looked at the same problem, your creativity and drive can begin to suffer.
In a coworking space, there’s never any shortage of inspiration. You’re always surrounded by unique individuals with new and innovative ideas. Strike up a conversation in the kitchen or the lounge with a freelance coder, writer, or entrepreneur, and you’re likely to find ways of thinking that you hadn’t considered before.
Chances are, your startup could benefit from the insights of an expert in another field. Maybe your product or service is prime for an app. Or maybe your value statement could use a bit of tweaking. If your startup occupies its own office space, you have to go out and find someone with the skills you need.
A coworking space, on the other hand, puts you in close proximity — often side-by-side — with professionals from a wide variety of business types. This close proximity allows you to collaborate with CEOs, marketing reps, graphic designers, editors, photographers, and specialists of all sorts.
What is infrastructure in an office environment? It’s all those little things that make work easier but aren’t obvious at first glance. Look around every office space and you’ll see the furniture, the decor, and the technology.
But who stocks the pantry? Who fills the water cooler? Where do team members store their gear (e.g., bikes, bags, coats, etc.)? Who cleans the kitchen and tidies the lounge after everyone’s gone home? Who controls the heating and cooling?
These unseen factors can have just as profound an effect on the quality of your work as the technology you use. And when you maintain your own office, this infrastructure is all on your shoulders.
At a coworking space, those infrastructure details are handled for you. At Bond Collective, for example, members enjoy amenities like daily on-site cleaning, bike storage, concession food market, complimentary spa water, and much more. It’s like having a concierge taking care of your needs every day.
5) Professional Image
As a startup, it’s crucial to dedicate as much of your capital toward product or service development as possible. That means your office space takes second place (or even third or fourth place) on your list of necessary expenses.
Because of those priorities, the appearance of your office may suffer at the beginning. That can seriously deter you from entertaining or meeting with clients at your office.
But with a coworking space, you get a professional image right from the start. At Bond Collective, all members benefit from guest reception and greeting, beautiful decor, luxurious workspaces, and 24-hour access to conference rooms and multiple locations. With a coworking space, you can keep your capital where it needs to be — focused on your product or service — without sacrificing the professional image you desire.
The comfort of your office space is essential for helping your team members stay focused, engaged, and productive while they work. That same comfort can go a long way toward impressing the customers and clients who visit your office.
As a startup, can you afford plush settees, comfy sofas, adjustable-height desks, and ergonomic chairs? Probably not at first.
In a coworking space like one of Bond Collective’s six locations, comfort is built in. We decorate and appoint all of our coworking environments with the finest that luxury has to offer. That way, your team members and guests will be happy and productive all day long.
If you’ve ever worked at home or by yourself in a rented space, you know the difficulty of staying motivated and productive. That’s because working alone (even if you’re in a coffee shop surrounded by others) means that you’re only accountable to yourself for your productivity, making it hard to complete necessary tasks.
When you work in a coworking space instead of at home alone or in a coffee shop, you’re more aware that you are indeed there to work. You now need to consider what you wear rather than staying in your pajamas or throwing on a pair of shorts and flip-flops.
This simple act of dressing professionally and walking into an office where others are working can greatly increase your focus, productivity, and efficiency.
Startups usually begin with the efforts of one or two individuals. Some startups even stay that way — with only one or two workers — for quite some time, which can make developing your startup into a full-fledged business an extremely lonely endeavor.
That isolation can have a negative effect on your focus, your mental well-being, and, ultimately, your product or service.
Moving your operations to a coworking space opens the door to a vast community of like-minded individuals. This gives you the social interaction you need to keep yourself energized, engaged, and inspired to do your best work.
As a startup, you’re acutely aware of the importance of networking. You need those connections — those resources — to help your business prosper. But with all the time and energy you’re putting into getting your enterprise off the ground, who’s got time to attend networking events?
Imagine if you could network with other professionals while you work? Running your startup out of a coworking space makes that possible. Day in and day out, you’ll be surrounded by entrepreneurs, freelancers, business owners (and their teams), consultants, and experts of all sorts.
You can use those connections to improve, evolve, and refine your product or service. You won’t get that working out of your own office space.
Flexibility is essential for developing a successful startup. One day you’re running smoothly with 10 employees, and the next you suddenly need 20. A few months later, you’re ready for 30 employees (or to go back to 10). Packing 20 employees in an office meant for 10 (or vice versa) can put a serious damper on the productivity, creativity, and overall happiness of your team.
One of the many coworking space benefits is the ease with which you can expand and contract the amount of space you use. Start with space for 10 in May, then expand to space for 25 in June. Monthly membership options make upsizing or downsizing easier than ever.
Find A Coworking Space Tailor-Made For Your Startup
Finding a coworking space for your startup doesn’t have to be a monumental task. Reach out to Bond Collective. Whether you’re a business of one or 100, we can help you find a space that is tailor-made for your brand.
Tour our gorgeous office spaces in New York (55 Broadway, 60 Broad, Gowanus, Flatiron, and Bushwick) and Philadelphia (The Station House) to experience the best that modern coworking spaces have to offer.
To get started or to learn more about coworking space benefits for digital nomads, startups, remote workers, and businesses of all sizes, visit BondCollective.com today.