Running a startup is as exciting as it can get for entrepreneurs in the making. The endless stream of fresh ideas, boundless opportunities, and immense learning are all part of what makes growing a business so exhilarating.
Compared to established businesses, however, startups face some disadvantages such as limitations in space, money, and human resources. To cope with these challenges, many of them seek the unique benefits provided by a coworking space or office for rent like Common Desk.
Looking for a way to grow your business? Here are several reasons startups should consider coworking.
Saves Money
Starting a business in the middle of the city can be expensive. Apart from the difficulty of finding a location, commercial spaces are getting harder and harder to afford, especially for startups and family-run businesses – who might not have enough capital at first.
In New York, rising rental costs are driving local shops and retailers out of the city and out of business, which is why many of them are moving into coworking spaces.
A coworking space provides the comfort of an office (and much more) minus the expensive overhead and rental costs. Some even come with amenities like showers, play areas, lounges, libraries, and gourmet cafeterias. Not only will you be able to save money, you’ll also gain access to high-quality facilities and amenities. Talk about a good bargain!
Boosts Productivity
Research by DeskMag and DeskWanted shows that 74% of coworkers are more productive and over two-thirds are more creative. For a startup, whose main assets is its people, productivity is one of the main drivers of a business. It’s simple, really: productivity leads to growth, and growth leads to more opportunities.
Want to get the most out of your team? Give them shared space that allows them to produce meaningful work together instead of apart–like this West Plano office space. As the saying goes, “two heads are better than one”.
Improves Happiness
Today’s generation of employees are looking for more than just work; they’re looking for work that gives them happiness and fulfillment.
Studies show that 89% of coworkers are happy. Moreover, a survey by Google reported that companies who value employee support experience a 12% boost in productivity and a 37% increase in employee satisfaction.
Set your employees up for success and give them the right environment to succeed. Invest in a coworking space that allows them to be productive, successful, and, most importantly, happy.
Promotes Work-Life Balance
Unlike offices that are usually open during the workday, coworking spaces are open 24/7 or at least until midnight.
Give your team the opportunity to work in their own time and according to their own schedules. Each person has a different sleep pattern, which means we shouldn’t force anyone to adjust to the cookie-cutter nine-to-five schedule.
According to FastCompany, people are productive at different times: some are more useful during the morning while others, at night. Give your employees the freedom they need in order to succeed–let them work when they are most productive.
A startup should be dynamic, and it should start with how well they adapt to employees.
Coworking is one of the most powerful tools to grow your business. The next time you need to something done, consider getting a coworking space. You’ll be surprised how much you can get out of yourself and your team.
Cheers!
