Co-working spaces are an environment where people who work for different companies are working together. It might as well be a group of associates working together. It is a bit different from the traditional office concept in terms of flexibility. You do not need to sign a long-term lease, for example.
In fact, co-working spaces offer you several opportunities. They may provide various tools and equipment you might need. We’re not talking about WiFi or coffee but printers, conference rooms, snacks, fruit bars, and even 3D printers.
Why Are Co-working Spaces the Future of the Business World?
If we consider the global financial turmoil the world has gone through during the pandemic, most companies have encountered serious problems. Numerous companies laid off a great number of employees went downsizing and even went bankrupt. They had to take measures and cut down budgets to survive. As most employees switched to remote working, shutting down office buildings has become a common solution to reduce costs. For some companies and many self-employed people, co-working spaces proved to be a cost-effective and flexible way to replace traditional office buildings.
Let’s dive deeper to understand why co-working spaces are a good option apart from their economic advantage.
Opportunity to connect with people
Good teamwork makes the dream work. Learning from others’ mistakes and experiences is helpful for us. While working in a co-working space, we have the chance to connect with others, learn from them, and exchange experiences.
Think about the little coffee breaks, where you have an opportunity to socialize and build a network. Co-working spaces are considered as the future of the business world because meanwhile basic business needs are provided, workers have an opportunity for social interaction, collaboration, and networking.
Co-working spaces are designed to optimize productivity. That can be seen in details such as ideal lighting, comfy chairs, ideal temperature, air quality, and ergonomic desks. When people are in an environment that allows and encourages them to work, they tend to focus better.
Working with people from different fields and backgrounds will help us widen our horizons. And this is exactly what co-working spaces aim for! With more social interaction and exchange of ideas, creativity is likely to boost when working at a co-working space.
Co-working spaces let workers kick off the day in a good mood since they provide everything workers need in one place. They get to socialize with each other, brainstorm, and find new ideas together. In that regard, co-working spaces have lots of potentials. Working together encourages supporting each other. Also, it means sharing and spreading knowledge.
How to Attract a Team to Your Co-working Space?
Basically, co-working spaces have many positive aspects that might help improve both overall comfort and the work environment. To begin with, co-working spaces break the prototypical office image, which is boring and gloomy. They are flexible, have a nice interior design, and comfortable tools at your service.
However, these reasons by themselves are not enough to attract a team to work at co-working spaces. After all, these can be provided in a traditional office as well. So, you need to offer more relatable incentives. Think about it, why do people choose your co-working space over others? What makes a co-working space special?
Create a brand
For the sake of the metaphor, let’s think of co-working spaces like social media apps. Each social media app has a different function. For example, while Facebook is generally used as a social platform by the elderly, Twitter is used for writing down your thoughts and is kind of “younger”. So, each platform has a different type of user profile, different purposes, and different functions.
We know that, but why? Because each of these apps has created its own brand, offering different functions. So why should a team choose a certain co-working space over others? What are the perks? Entertainment, communication, a nice environment?
To attract workers’ attention and adapt a team to your co-working space, you need to differentiate your brand. Your co-working space’s perks might be high-tech tools, might be a cozy place, or other services. You should do your own research and learn what do other co-working spaces lack. In this way, you will be able to create a unique space to attract people.
Create membership benefits
Most probably the prices of your co-working space are more or less the same as others. So, why should people choose yours? You need to spice things up, give them something to go for your co-working space.
Well, you may bind them to your co-working space by offering membership benefits such as gift cards, discounts from local shops, or anything else that can be considered as a perk.
Care about entertainment
You can market your co-working space with the word of mouth technique. That is perhaps the predominant way to attract new members and keep your current members with you. You need to organize events to make members feel it is not just an office but an ecosystem. If they get bored or don’t feel any commitment, there is nothing you can do about it. So, to prevent this, you should organize social events such as happy hours, game nights or parties to increase members’ loyalty.
Which Types of Businesses Use Co-working Spaces?
We think that there is no sector that does not benefit from co-working spaces. Many professionals such as writers, programmers, and lawyers use this kind of office. Co-working spaces are preferred mainly because they give flexibility while providing many opportunities.
Let’s have a look at which types of businesses use co-working spaces the most.
Small to medium businesses
The number of employees of SMEs can change at any time – the most relevant example of this is the pandemic. Needing a smaller or larger workplace may put business owners under a financial burden. In this way, co-working spaces offer flexible office spaces that will financially relieve SMEs dealing with such difficulties. Co-working spaces are invaluable to small businesses in a variety of industries from lawyers to web designers. It is an ideal and easy way for business owners to keep their employees satisfied while reducing office costs.
Although startups and SMEs are similar, many startups have had to deal with problems SMEs do not face. It is not difficult to imagine the financial burden that startups face, given that they are really young companies. Expenses such as buying or renting a new space, hiring employees, or hardware costs put startups in a difficult position. For this reason, co-working spaces are optimal for startups.
Large businesses with remote workers
Covid-19 has helped us understand the benefits of working from home with a sudden and unfortunate transition. Medium-sized companies could switch to co-working spaces for their remote workers, providing a benefit to those who are unable to work at home due to several reasons. So, co-working spaces are also an ideal choice for larger businesses as a way of helping their employees work in a proper space.
Freelancers and digital nomads
People working as freelancers or digital nomads always need a proper workspace. It is sometimes not possible or ideal to work at home for several reasons. Similarly, for people who have difficulties in maintaining work-life balance, separating home and office will be a good option. For this reason, co-working spaces are a great alternative for freelancers and digital nomads as well.
Why is a co-working space preferable to normal office space?
Why do small start-ups prefer co-working office spaces?
Can co-working spaces be a profitable business, and how?
What is a ‘co-working space’?
Originally posted on January 14, 2022 @ 2:00 pm