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Is Shared Office Space a Smart Decision for Startups?

Posted on Nov 13, 2017 9:00:00 AM by Ryan Ring

shutterstock_513893389.pngStartups and shared working spaces are a match made in heaven. It’s easy to see why these two concepts work together well. Both are atypical, outside- the-box approaches at the working norm. Hootsuite, Instagram , Uber, Duolingo, Weebly, Spotify, and Indiegogo are all tech giants that started out by using coworking spaces. If that list isn’t enough to convince you, here are a few reasons why startups and shared working spaces go hand in hand.

Cost Effectiveness

By nature, a startup is a small business and anyone who runs a small business knows that cutting costs is always important. Renting an office is a huge expense, and if your business isn’t at the place where having your own full office is necessary, deciding what to do is a huge hurdle. On the one hand, you don’t want to waste money on an office space that is too big for your current needs. On the other hand, having all your employees work from home can make it hard to collaborate and can cut down on productivity immensely. On top of saving money on rent, most coworking spaces include a ton of perks that are included in the cost. Coffee, high-speed Wi-Fi and printing are all resources that are made available and can save you money every single week.

Networking

Especially for small businesses like startups, meeting new people can be the key to moving ahead. You never know how much you can benefit from meeting another professional and motivated person. They could become your next employee, collaborator or even investor. Working out of a coworking space provides you the chance to come into contact with working and innovated people on a daily basis which opens up the opportunity for you to get your name out there and make important, possibly life changing connections.

Innovative Environment

Being surrounded by motivated and innovative people can do wonders for you and your employees. There’s a certain energy in the air that encourages us to push ourselves creatively. Coworking spaces are designed for one purpose: to get work done. The décor and layout of coworking spaces are set up in a way that will keep your day on the right track, and inspire you to work harder and smarter. Just think about it, being trapped in a cubicle all day and asked to come up with creative solutions? It can be incredibly difficult to get inspired when you’re staring at the same grey wall every day. Never underestimate the benefit of working in a space that is designed to inspire and motivate.

Startups are small businesses that plan on making bold moves and changing the way we do things. Don’t waste money renting a huge office space. Allocating those funds into something more important. Rent a space that will help push your creativity and innovation forward, as well as lead to important interactions. To read more about how to select the perfect coworking space, check out our free eBook “What to Look For in a Co-working Space”

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Topics: Coworking