You might have heard of co-working spaces but wonder what they are all about. Basically, it’s a working style that replicates an office environment without some of the negative attributes of being a solopreneur. From helping with low cash flow to giving you more social time, co-working has some positive benefits for your small business if you’re just starting out. Here are a few ways it can be helpful.
More Human Contact
As humans, we are inherently social creatures. While it’s all well and good to spend a few days, or even weeks, working alone, it can negatively impact your mental health if it continues for too long. Being around other like-minded individuals can help you feel less lonely and as though you are a part of a team. This can certainly help during the beginning stages of a new company.
This doesn’t mean that you need to socialize all day long, or even feel like you have to talk with the people around you unless you want to. The idea behind working in a shared office space is that you can focus on running your business while maintaining social links to the world outside of your home.
In terms of cost-efficiency, co-working spaces are excellent. Shared spaces provide you with a suitable working environment and even some things to make working easier. You can save money on renting office space, internet costs, utilities, maintenance, etc. Co-working spaces range in price, depending on the amenities offered but usually are far more affordable than leasing space for new, small business owners.
Helps to Build a Network
You will likely be working alongside other entrepreneurs and freelancers in a co-working space. They could be important to you now and in the future. After all, you never know who they are or who they will become. It’s always a good idea to broaden your reach by meeting new people.
Who knows, you might find yourself talking to someone that could offer you a service you need like a small business accountant or another entrepreneur who wants a partner. Whatever the case may be, it is always a positive thing to surround yourself with like-minded individuals who can broaden your outlook on life, whether professionally or socially.
Gives More Flexibility and Structure
Another great thing about co-working space is that it’s often available 24/7. This is designed to cater to everyone’s schedule needs and means that you can drop in and out whenever you need to. This could be especially helpful for women with young children at home and need somewhere to focus on work.
Additionally, small business owners need to adopt some type of structure for optimal success. Having a place to go to that is designated for work helps to establish structure. Too often, self-employed people find their work running into their personal life. While that can sometimes be unavoidable, it helps to be able to differentiate between the two.
As your business grows, you may find you have less time to spend with friends and family, and when you have downtime, you will want to spend time with the people closest to you. You might even miss the office parties or the after-work drinks on Friday from your previous job. Co-working spaces often have mixers and socials, and if they don’t, you can always create your own and make the space a little more of a social hub.