How a Coworking Space Can Help Your Business Grow

Posted October 6, 2017 by Manu Aggarwal

Over the last few years, coworking spaces have been growing exponentially in popularity. Whether you’re a solopreneur that lives behind the computer screen, or a small startup with a team of enthusiastic employees, coworking spaces can introduce your business to a number of new growth factors that inspire continuous forward momentum.

At first, the idea of working within a conglomerate of individuals and businesses may sound strange, but once you experience it for yourself, you’ll understand why so many professionals and entrepreneurs have flocked to the concept. Now that we’ve captured your attention, let’s take a look at exactly how coworking spaces can grow your business exponentially.

1. The Ability to Control Your Overhead

As a small or new business, office space easily commands a large portion of your overhead. Often times, even if you find the ideal layout and location, the monthly cost and contract requirements can cause significant financial stress.

Coworking spaces by nature offer flexibility. Customers have the free ability to cancel their rental space whenever they please, and can even scale or downsize as needs change over time. In fact, coworking spaces have been proven to reduce the expenditures of small companies by as much as 75 percent.

2. Work in a Distraction Free, Professional Environment

It doesn’t matter if you work from home or in a busy corporate office that houses dozens (if not hundreds) of employees. Sometimes, it can be hard to stay productive. Not only can coworking spaces help to remove you from the common distractions that hinder productivity on a daily basis, but they also promote the “get stuff done” attitude by surrounding yourself with hard working, like minded people.

Studies show that people in coworking spaces are 74% more productive and up to 70% healthier than those in traditional office environments. If that’s not enough, another study by Harvard Business Review shows that individuals using a coworking space reported levels of thriving success averaging 6 points on a 7-point scale.

Think about it this way, you do not have to hear a barista yelling out that someone’s mocha soy latte with skim milk and whipped cream on the side is ready, every two minutes. Instead, you get a conducive environment filled with individuals who are also working hard to grow their business.

3. Collaborate and Learn

Have you ever run into what’s commonly referred to as “the wall”? Coworking spaces can give you the unique opportunity to meet and learn from other business professionals. Being in such a productive, high-energy environment, it’s easy to gain new inspiration or even foster a mutually beneficial business relationship that opens the door for collaboration.

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Coworking spaces make it that much easier to grow and develop your professional network while also allowing you to further hone and expand skill sets. If you find yourself stuck in a rut, the kind of communities that these spaces inspire are great for overcoming walls and breaking through productivity plateaus.

With coworking spaces still being a fairly new concept, their rapidly growing popularity alone speaks to the benefits that solopreneurs and small companies can reap. If you’re serious about growing your businesses and escaping the restrictions of a standard office, a coworking space may be just what you need.

If you are interested in learning more about coworking spaces, or would like to actually see one for yourself, Book a Tour below.

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