Why Co-working Spaces Are A Fool proof Solution To Your Business

Date:   Friday , December 30, 2016

Headquartered in Bengaluru, CoWrks is an innovative real estate company offering Co-working Spaces, Commercial Real Estate, Office Space, Office Rentals, and other similar services, thus enabling people to work with like-minded individuals.

Chances are that, if you\'re an independent entrepreneur or are a startup founder with a small team, you don\'t have a lot of funds to spare. Many solo entrepreneurs might simply choose to turn their bedroom into an office. And that\'s understandable because getting a traditional office space, especially in major metropolitan cities can drain your resources. Adding to that, setting up an office and getting the basic amenities in place is not a small feat.

You might just make yourself believe that working remotely is just as good, that this is the tech age, and you don\'t need to be physically present together to work. While that may be true in essence, the fatigue of working in isolation is sure to catch up on you, and maybe on your team as well, and it will get increasingly difficult for you to keep each other motivated through the inevitable rough patches. This is one of the reasons for co-working spaces to have become such an attractive alternative. It doesn\'t have to be one or the other. If you\'re someone who puts a lot of stock on research, it is worthy to note that startups that use a co-working space are four times more likely to succeed and earn higher income as a result of that change.

Why is Co-working a Game Changer?

There are a ton of benefits available at co-working spaces that effectively marry the best of both worlds and offer itself as a fool proof solution to your business:

Reasonable Office Spaces: Being a shared economy service, in the long run, co-working turns out to be the more economical answer to working. You cut down on your operational expenses significantly by saving up on rent, office expenses, utilities, consumable overheads, manpower and up-front costs.

Flexibility: Co-working spaces are ideal for startups because you don\'t have to jump into long committed relationships that are bane of every millennial\'s life immediately, you can opt for a daily or monthly rental as it suits you. You don\'t have to get locked down for several years to a space when you haven\'t even completely realized where your business is moving, or how much it\'s going to grow or contract. The month-to-month lease gives you the flexibility to upgrade or downgrade your space as you need, when you need.
Networks: This is a benefit unique to co-working spaces, one which you can\'t avail of in any other setting. Since co-working spaces are usually full of professionals from different industries, different employers and different skill-sets working together, you have a chance to network and achieve a vast set of goals; maybe you would like an impromptu focus group for your new product; maybe you\'d like an outsider opinion on your app design; maybe you discover a freelancer with the exact skill set you\'ve been looking for; or maybe you find an investor for your company.
A lot of co-working spaces offer a variety of recreational activities in a separate zone or other events to help foster a community. If you\'re not into that, you have the complete right and authority to simply not participate, without fear of a backlash as in an office.
Happiness: A happy employee is a productive employee. Grilling employees like in traditional office setups to maximize output might work in the short term, but most likely it will shut down all forms of creativity and lower morale to a barely functional level. But co-working spaces offer an environment which seems relatively free of hierarchy, thus allowing people to simply let their shoulders down. But don\'t take our word for it; here\'s some select verifiable Deskmag statistics for you:

  • 71 percent people who co-work are more creative

  • 74 percent people are more productive

  • 70 percent feel healthier than the ones working in traditional office spaces

  • 80 percent reported having grown their business network

  • The concept of shared, collaborative spaces has gained a tremendous thrust in India in the recent years. The innovation possibilities that this category brings with it remains a key driver for the industry.