Should you consider working in Coworking space?

Posted by manuj on December 4th, 2018

Coworking spaces are pre-planned and fully equipped workspaces beautifully crafted like a piece of art.Coworking spaces are designed in such a manner that it supports and motivates the entrepreneurial spirit of innovative minds behind new startups. Coworking spaces are changing the office ecosystem with passing time. Not only startups but many old and established companies are migrating from traditional office culture to coworking spaces. In coworking spaces people not only share the workspace rather they share ideas, experiences, services and expertise which helps young entrepreneurs to understand the market and consumers effectively. One gets an opportunity to collaborate with co-workers and emerge with innovative ideas. Coworking spaces are employee friendly and offer them a comfortable and productive environment with engaging environment and various skill development workshops.

Pros and Cons of working in a Coworking space

Pros

Budget Friendly

One of the most important advantages of coworking is that it is relatively low cost as compared to traditional offices. Almost 20-40% of the cost can be saved with comparison to the lease of regular office as setup cost and overheads is avoided.

Hassle Free

While setting up or moving into a new office, one have to take care of setting up of desks, printers, electricity and even a coffee machine. Coworking spaces take care of that. Just carry your system or laptop and just move in. You just have to pay membership fees and need not to care about any administrative tasks.

Collaboration

As so many different companies, startups, entrepreneurs and creative minds are working under a same roof, one get to interact, collaborate and innovate with these like-minded people. 63% of the companies get into coworking office space just because of the ability to collaborate.

Events

Many coworking spaces organize special seminars where they invite guest speakers and industry leaders to share their experiences and give industry insights to help the members to learn and progress. If your motto is work hard and party harder then coworking is the right place as most of the coworking places have networking / party nights on weekends.

Perks and Amenities

In typical work place you as a company owner is the deciding factor of what perks or amenities you require. But in a coworking place you get game rooms, coffee machines, vending machines, conference rooms, meeting rooms and even a kitchen besides the basic requirements of an office that are printers, scanners, phone, fax, high speed wifi and internet connection.

Flexibility

Coworking spaces provide a short and long-term flexibility for occupants. Coworking gives the ability of scaling up or down as the company expands or shrinks which is much easier when a company is not bound to a long term lease. One can get different desk options like hot desk, dedicated desk or even a private desk and will have to pay as per the requirement. If you are a traveler want a workplace for few days, coworking also provides that option. Almost any company can find a suitable plan in coworking space according to its needs.

Culture

Established businesses, startups, entrepreneur, solopreneur, small business all these coexist within these coworking spaces therefore one will witness a mixture of different communities under the same roof that is not found in any traditional office space and as mentioned above different events are organized to utilize these connections to collaborate and innovate.

Capital investment

If you are a startup or a new small emerging business, investing huge amount on the setting up of new office can be risky task. As we know that a lot of startups establish and shut down in a day so all the efforts in creating a new office go in vain. In this scenario coworking can be a huge helping hand, just move in there with your system or laptop and you are ready to go by just paying the monthly membership fees.

Short leases

Leasing of traditional offices is not less than 11 months but coworking has an upper hand in this scenario as the coworking spaces provides flexible lease terms starting from a week to month or even an year. If you are a traveller and need a workplace for a day or two coworking spaces can also help you in that.

Learning

Learning in a coworking space can happen in variety of ways, even a simple conversation with the coworker of different startup or company can result in sharing of ideas, clearing one's doubts whick can lead to innovation. Experience and knowledge of one coworker can be shared and utilized by others at different professional levels.

Infrastructure

Most of the shared spaces have beautifully designed interiors with finest furnishing that adds up as the "wow factor" that you'll not find in a traditional office space. The environment provided in the coworking space motivates the worker to come to the office daily and work efficiently.

Home Distractions

If you are a freelancer or a small startup working from house then you know how easy it is to get distracted by chores, housemates, family, pets or even by neighbours. The environment needed to work efficiently for a business cannot be achieved from a house therefore coworking is the ideal way to get a dedicated place to work at an affordable cost.

 

Cons

Security

Cyber security is one of the growing challenge for organizations working in coworking space as these organizations share same network.

Coworking solutions need to implement effective cyber security concerns. Though not a major concern as CCTV cameras are available but still premises security can be another potential challenge.

Customizations

Customization according to your taste is very limited as the space is already designed, furnished and equipped with every necessity you need to be operational. But there are so many coworking places around so you can chose the workplace in accordance to your liking.

Lack of privacy

Downside of so many companies working under same roof is that there is very little privacy and quiet. You can hear people talking, laughing, talking, discussing, coffee machine making grr grr sound that leads to distraction and can result in sudden drop in productivity. This can be the biggest deal breaker for some. If you need to make a call you'll have to move to quieter place that's why most coworking place have phone booths. But there's always an option to have a private cabin if you are ready to spend more for privacy. Also, many companies fear a loss of intellectual property, ideas and other sensitive information.

Competition under same roof

When so many companies coexist in same place, there is a probability that you'll run into people you are competing against for business and it can result in uncomfortable moments. But it can turn into a pro if you are like minded and agree to collaborate.

Reputation can be hampered

When a client visits the office for a meeting then he/she may judge your company by your connection with the coworkers which could have been seen talking, sharing jokes, laughing, playing, having coffee, chugging beer in the common area. It can result in hampering of your company's reputation in the eyes of the client which is not good for your brand.

Like it? Share it!


manuj

About the Author

manuj
Joined: December 4th, 2018
Articles Posted: 1