The co-working boon has created millions of opportunities for people who are in business to expand and relocate, to start a business or to move from a home office to a professional one. One of the reasons so many have been able to take advantage of co-working is because it offers a wide range of office amenities but at a much lower cost than traditional office leasing. In many cases, co-working professionals might find themselves working in some of the most prestigious locations and all on a dime.
However, the benefits of co-working are numerous and varied. For many, it has allowed them more flexibility with time management, whether it means managing your own time or that of your employees. More importantly, it so much easier to grow a business out of a co-working fit out than in some of the other leasing plans. Check out Servcorp Australia site at www.servcorp.com.au/en/coworking to see one example of the way this particular office style works.
Let’s take a look at some of the benefits of co-working and how they can help you grow your business.
Networking And Collaboration
The office set up is a catalyst for engagement among professionals, and more significantly, these professionals come from a wide array of industries. Whether you are grabbing a coffee in the morning or chatting up your ideas during your break, there are so many informal opportunities for you to engage with other professionals. These contact points can culminate in further business, referrals, and more significantly, collaboration opportunities.
Furthermore, some of the better co-working spots will sponsor formal networking events that introduce professionals to movers and shakers in their industry. Collaborative opportunities spring from these networking activities that can help you create further contacts. Ultimately, all of this networking and collaborating culminate into business growth for you.
Co-working spaces also provide professionals with opportunities to get mentoring and other assistance with learning how to build their business. These incubator programs act like cocoons for your start-up, and for the most part, they work in part by pairing experienced business owners with start-ups in mentoring relationships. Unfortunately, while some of these programs are a part of your package, many of them require you pay a nominal fee. However, the investment is worth seeing your idea come to fruition.
Another great benefit of co-working is that many of these little communities are industry-specific. This is great for people who are in the tech industries because everything they need is under one roof. More importantly, these industry-specific spaces also are a great support network for those starting a business.
Because of the diverse industries you might find housed in one co-working space, you have the benefit of working with a professional encyclopaedia of information. As opposed to having to do the footwork of tracking down information for your business, your co-workers are a valuable resource from which you can pull much information and easily. In terms of time, you can save oodles by using your co-workers’ expertise and knowledge to your advantage.
One last benefit of the co-working space is that many of them are community-minded with some requiring an interview to be accepted. The sense of community is conveyed in not only the layout but also the organisation’s ability to get its professionals to engage with each other in ways that promote entrepreneurial pursuits. Not quite a corporate office but not quite a hangout, the co-working office provides professionals with a place where they connect to the greater business community.
Business Growth As A Benefit
Networking and collaborating form the foundations of making connections with others. With connections to everyone from the diverse Australian business community, you have the opportunity to share your expertise while learning from others. Ultimately, the above benefits translate into a stronger business model for you, and more importantly, more business too.