Since the launch of WeWork in 2010, there has been an emergence of shared working space. Shared working spaces like WeWork, SOMAcentral, and others are much more than just a place to work but rather a community where people come together and share ideas. There are many advantages of working from a shared working space such as reduced costs, a better networking space and a more relaxed atmosphere.
If you are just starting out with your startup or are planning on reducing work space related costs then it is a great idea to join a shared working space. New shared working spaces have opened up in just about all parts of the world, from San Francisco to Karachi. You are never too far away from a shared working space.
Cost Effective
The main reason behind the popularity of shared working spaces such as SOMAcentral is the relatively low cost of working at such a place. For just a few hundred dollars a month, you get complete access to the facilities of a shared working space and a separate desk for working. Digital nomads and new entrepreneurs around the world are ditching the traditional working space and are more interested in working from a shared working space. You will end up saving thousands of dollars working from a shared working space as compared to having your own office. The possibilities of a shared working space are endless.
Profit Maximization
As cost reduction can be achieved by working from a shared working space, you will be able to focus on profit maximization. Every business should focus on reducing costs and managing an office can be difficult as there are many costs related to running an office.
Collaboration
Working at a shared working space provides you with one of the best advantages, which is collaboration. You will be working from a space where there will be fellow startup founders or new entrepreneurs and you will have the opportunity to collaborate with them. Furthermore, working from a shared working space will motivate you and your employees to work harder as everyone would be exposed to emerging startups and learn from their latest techniques. Collaboration is vital for thriving. We live in an increasingly tech-savvy world which relies on disruption through new platforms. Therefore, when you work from a shared working space, you will be able to amplify your business growth and achieve new levels of success.
Networking
Startups work at a shared working space for the networking benefits. Shared working spaces are filled with brilliant minds and venture capitalists who would be interested in investing in your idea if you have an amazing one. Hence, working from a shared working space could even help you raise much needed capital for running your business. Networking is one of the most important things which a business needs to think about.
Availability of Much Needed Capital
When you work from a shared working space, operating costs will decrease and there will be more working capital available. This capital can be used for investing in other ideas and improving the services, quality or other core competencies of the business. Capital is scarce and cost reduction due to low office space costs will open up much needed capital. Therefore, think about the opportunity cost of not working at a shared working space and how that money can be spent elsewhere.
The Future
It is believed that the future of working is from shared working space. People have started to think about work-life balance and working from an environment which is interesting and fun. Shared working space is the future of working spaces. Whether you like them or not, they are here to stay and will eventually replace existing structures.
Conclusion
If you want to cut costs and amplify your business growth then there is no better way to do that then by working from a shared working space. There are shared working spaces or co-working spaces throughout the United States and the entire world.
The trend of working from a shared working space is only likely to increase. It is only a matter of time until all businesses realize the importance of working from a shared working space and shift to the new model of work. Think of the future and look at innovative ways of solving problems if you want to get ahead in the competitive world of today. Shared working spaces are a treat for businesses that want to cut working-related costs.
