Shared Workspace – What’s in it For Business?

The concept of shared workspace, commonly known as co-working, is an ingenious alternative to traditional office environments. This innovative idea allows entrepreneurs and freelancers to share resources in an open workspace as opposed to the traditional cubicle or the makeshift setups in the coffee shops.

This concept has proven to be valuable in not only running a successful business but also maintaining a professional career. In that light, we highlight some of the benefits of investing in shared workspace.


Business Network Growth

Porte Gale once said: Your network is your net worth.

In the world of entrepreneurship, who you know is just as significant as what you know. Sometimes, who you know is even more important. In light of the fact that every person in a shared workspace is a professional in their own right, co-working is extremely valuable when it comes to building business and professional networks.

Therefore, it will be unwise not to capitalize on the opportunity to create connections. In any co-working space, you can be sure of finding like-minded individuals who are just as zealous and goal-oriented as you are. You’ll always find someone to share ideas with, and you can even grow to become business partners.


Cost-Efficiency

Many shared workspaces offer very affordable rent, especially when compared to leasing out a whole corporate office. In fact, most of them don’t even ask for a lock-in contract. They are also largely flexible – you can find a place that offers daily, weekly, or even monthly contracts. In other words, you don’t have to be committed for a long period of time. That’s why co-working spaces are an excellent breeding ground for start-ups, which can move out any time they become stable.

In addition, many shared workspaces offer essential facilities. This means that you don’t have to worry about getting things like printers, scanners, internet etc., which usually require significant amount of money to put in place.

 


Community Spirit

Working by yourself can very exhausting and it sometimes comes with absolute loneliness. Every human being is a social creature at heart and will always appreciate at least a little company. Sometimes, you will need someone with whom to share your achievements, discuss your defeats, and ask for some guidance. In this light, shared workspace provides an excellent environment to nurture the entrepreneurial spirit, thanks to the opportunity to work with like-mind individuals.


Over-flowing Talent

Shared workspaces are a haven of talent as they normally attract a vast variety of individuals from various industries and fields. As such, you can rest assured that for any part of your business that is giving you problems, and you need some help, the person next to you may have an effective solution.

Therefore, you need to capitalize on the opportunity to do business while sharing skills as you can’t tell who you will find. Most often, you will be amazed by how valuable they are to you and your business.


Accountability

One of the most challenging things for an independent professional, is finding the drive get started for the day. This is largely because you are answerable to no one but yourself. Sometimes, having like-minded individuals around will help fire up your enthusiasm and inspiration. By sharing your strategies and objectives with others, you will be held accountable for the progress of your business.

Finals Thoughts

Shared workspaces are becoming increasingly popular for providing freelancers and small businesses instant networking opportunities and comradeship. This is in addition to a plethora of valuable unexpected encounters that can’t be recreated in traditional office environments. The Hive at 55, located in lower Manhattan, is a perfect example of shared workspace.

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