If you have a startup idea brewing in your mind but the cost of owning/renting an office space, hiring employees, overhead costs etc. keeping you from following your dreams then co-working spaces can be the fuel your passion needs to soar.
Co-working spaces are an innovative and economical way for startup owners or small to medium sized entrepreneurs to launch their businesses without the burden of intimidating setup costs. These spaces offer the flexibility to pay-as-you-go or affordable monthly subscriptions that can be easily cancelled at your convenience.
We have jotted a few of the many factors co-working make running a startup easier than ever before.
- COST-EFFICIENCY: You want to chase your dreams and bring that great startup idea you have to life but your bank account doesn’t seem to agree with you? It is a very common scenario for startup owners to shelve their ideas simply because of the costs involved in setting up and running a business. You can of course create a small office in your house or basement but when you need additional help in areas such as accounting, graphic design, sales etc. that is where you might run into trouble. Co-working spaces offer easy monthly subscriptions, sometimes for even as low as $250 a month, which is all that you might need in the initial stages of your entrepreneurial journey. They also offer shared office equipment including printers, copiers, notebooks, Macbooks, shredders etc. the cost of which can be shared amongst the tenants making it an economical and smart investment.
- NETWORKING: Co-working spaces provide you the opportunity to meet like-minded individuals in the form of freelancers or fellow startup owners who may in future turn out to be partners or employees or even customers. You can also do product trials with your neighbours to gauge market response and consumer behavior.
- PROFESSIONAL APPEAL: So you have your sales pitch ready and sent to a few clients and you have already started receiving feelers for meetings, where do you call them? To your basement? A coffee shop? Your friend’s office? No! Co-working spaces make you and your business look professional and responsible in front of your clients and investors. You can easily book one of their conference rooms for small or large meetings to impress your clients. Looking the part is half the battle won and co-working spaces definitely give your startup a professional image.
- MOTIVATION: Co-working spaces act as a brewing ground for ideas of various types and magnitudes that motivate you to keep your passion alive if you are going through a low phase. It provides a positive atmosphere and encourages you to push your limits if your startup is not able to garner the kind of response you hoped. It also keeps you free of negative elements such as office politics and hierarchy issues, making it easier for you to focus on your business and its growth.
Some of the other services offered by Co-working spaces also include cafeteria, pantry services, office equipment installation and setup, rent-to-own equipment or even fitness classes. If you haven’t made up your mind already about co-working spaces being an inventive solution for your startup, then we suggest you take a tour and experience it yourself.