Common working environments are becoming increasingly popular across the globe. With many small businesses, startups, freelancers and entrepreneurs choosing to work together in the same space for their day to day activities, and to connect with like-minded professionals, this is a phenomenon not to be ignored.
A co-working space is a shared environment where individuals or teams from different origins work in an open office environment owned and run by an independent agency. Co-working spaces are often rented out to individuals by the hour, day, week or any other negotiated time frame, and are vital in saving small business and individuals on major lease commitments and help to greatly save costs on office space.
In many cases, this technique is used as a strategy to save dollars by smaller organizations or freelancers. For example, if a small business is growing in a particular city and receiving client work a on a regular basis, but not enough to open a second office, an organization may choose to rent a shared location for project work or meetings in that city to achieve localization, and provide a higher quality service without long-term commitment.
Another use of a joint space is to operate a very small team in the startup phase until a steady income stream is achieved that can support growth. Often co-working spaces see seed-funded startups and independent freelancers as residents which can result in a very strong entrepreneurial environment. Many spaces will be flooded with technology start-ups in particular, and have proven able to raise some of the most successful and sustainable technology firms from across the globe.
Collective work environments offer excellent cost savings and unmatched opportunities, but you must consider whether such an environment is right for you. You must ask the following questions:
– Am I able to work independently with potential distractions?
– Do I have a goal in place while I am at a shared work location?
– Have I outgrown a mutual work site, or am I simply not ready for one?
– Is this joint work space the right one for me, or is there a more suitable location in my local region?
– Even though co working spaces are affordable, can I afford it?
– How long do I intend to use the space for? Short-term, long-term or temporarily?
If you are a freelancer or start-up then a co-working space can help you in a number of ways.