WHY ENTREPRENEURS THRIVE AT COWORKING OFFICE SPACES?

Coworking Space

There is no denying the fact that any successful business is nothing but a courageous decision made by an entrepreneur. It is said that entrepreneurship is not just about ‘Being your own boss’, but also, a long and lonely journey that one undertakes to reach the goals. There are a lot of complexities and uncertainties attached with setting up a new business and taking it forward. The whole concept of entrepreneurship comes with its own set of risks and innate aspects which comprises of:

  • The long and long working hours
  • Being accountable and responsible for each and everything done to the business
  • Costs aspect of every decision
  • Almost no family life

None of the above mentioned aspects of entrepreneurship can ever be eliminated, however, we can mitigate some of them. Entrepreneurship does provide incentives in the form of the flexible working hours and a choice of place of work.

The coworking spaces are the spacious setting equipped with desks and other necessary utilities including the internet. The entrepreneurs are quickly moving towards the shared office spaces, considering the cost benefits and the refreshing environment present there.

Let’s deduce why the coworking spaces are the ideal match for the ambitious entrepreneurs:

1. Cost effective

The entrepreneurs starting their small venture don’t have the big pockets like the Multinational companies, hence, the cost factor is one of the major concerns. In the coworking solution, the clients are required to pay in accordance of the seat occupancy. Say, if one entrepreneur takes one seat, he/she has to pay only for one seat and say, if he invites his/her entire team to the space, then he/she has to pay for the seat occupancy of each of the staff members. This reduces the operational and infrastructural cost to a great extent. Hence, for a lean team or for a short duration projects, entrepreneurs should always opt for a coworking solution instead of a full-fledged office.

2. Shared resources

Today is the era of shared consumption, considering the limited availability of resources. The concept of coworking works on the principle of shared resources only. The coworking solutions have a superior network infrastructure which includes firewalls, servers, WiFi etc and all these IT procurements are on the shared basis, thus, the cost of using these resources does not fall on the shoulder of one entrepreneur, which may have been the case had the entrepreneur set up his own office. Thus, there is a lot of savings with shared resources.

3. Grow your space as you grow your size

When it is about the startup, nothing can ever be static. And when it is about the coworking spaces, they are designed in such a manner that they are always flexible in infrastructure. Because of the flexibility attribute, they can accommodate you even when you were 5 in number, and even when you grew and reach 15 in number. So, instead of switching to a bigger office, you can opt for a bigger team room in the shared coworking location.

4. Ideas for your startups

The ideas for startups are usually epiphanies. They occur mostly during the random conservations/debates with like-minded people and the coworking solutions are considered ideal for these things. Working with people from completely different backgrounds and skill set can indeed help in discovering new ideas. Thus, you will ever find people from such varied backgrounds at one place, and such place is only the cowork locations.

5. Breaking the comfort zone

When you join the cowork group, you tend to break out the comfort zone and give yourself a chance to devish into the fresh solutions to the existing problems. When you join the coworking group, you allow yourself to enter into the unknown space. This way you will release your fear and socialize with other set of people.

6. Flexibility

The fixed office space brings with it a great baggage in terms of the fixed term lease, infrastructure and utility bills. But, when it comes to coworking space in Gurgaon and other prime Indian cities , there is a lot of flexibility as the entrepreneur need not sign any contract and just have to pay as per the seat occupancy.

7. All inclusive facilities

When you hire a private office, there are a number of startup costs in terms of furniture, service charges, utilities and a number of appliances such as coffee machine, microwave, fridge etc. The coworking solutions provide the required amenities such as furniture, high speed internet, bookshelf, printers, scanners, photocopier, coffee machine, meeting rooms, team rooms and conference rooms. The entire responsibility of maintaining and cleaning the premises lies with the owner of the coworking location. Thus very few responsibilities get passed on the shoulder of the budding entrepreneur.

If we take a look at the statistics, then we find that many of the prime multinational companies were incubated not in a big multi-storey office, but in a coworking space. Coworking can in a great way ease up the path of starting the new business venture and provide the needed flexibility to the business when it is in its growing stage.