What are co-working spaces?
Similar to office spaces in infrastructure, co-working spaces provide all the facilities including receptionist services, wifi, printers, refreshment services, etc.
Co-working spaces are gaining popularity among freelancers, entrepreneurs and remote workers due to the affordability and the availability of various options to choose from.
Independent workers may find it easier to thrive in an environment free from office politics and the pressure to put on a work persona throughout their office hours.
These spaces provide a lot of scope for personal growth as everyone in the room has different skills and qualities to learn from but the quality of the space mainly depends on the values of the community.
Why are they successful?
Liberty to choose locale
Workers have the freedom to choose the location of their liking. They have the autonomy to choose whether they want to work in a private workspace or in a conventional environment. This liberty appeals to independent workers as they usually don’t like being restricted.
Working in your preferred environment strikes creative ideas and promotes innovative thinking. Thus making these spaces even more desirable.
Networking is a crucial part of an entrepreneurial journey, when people are working independently, they don’t have as many networking opportunities as someone working in a corporation. Co-working spaces serve as excellent spots for mingling with people with different expertise and backgrounds. There are several opportunities to market your product or service in the community.
The cost is much less than owning or renting an office. Startups and small businesses find these spaces very convenient as they usually don’t have the budget to rent workspace in the starting years of their businesses.
Co-working spaces provide an environment similar to an office space at lower membership and operational costs. The money saved up by renting a co-working space can instead be invested in your venture. Choosing wisely and sticking to your budget definitely ensures cost efficiency as the prices/rents vary depending on the service and infrastructure provided.
It is often challenging to maintain focus when there are a lot of distractions and distractions also affect the quality of work. For most people, working from home affects their productivity and speed. Co-working spaces provide privacy and an obstruction-free environment which results in increased productivity and a clutter free mind to think clearly and innovatively. Especially for people working in creative fields, a peaceful environment is very important to boost creativity.
With changing times, people are moving to a place where they value personal growth, sanity of mind and flexibility in working. As a result of the increase in entrepreneurial ventures, the demand for spaces where people can work effectively is also rising and co-working spaces are the next best thing after that people are looking for. They provide similar space for growth that one would have working in the office of a corporation while keeping your independence in mind. Many co-working spaces are providing theme based workspace to meet the aesthetic needs of the workers.
Networking events are encouraged to mingle with the community. Many of them even provide facilities such as cafes.
The concept is not even three decades old and it’s already gaining so much popularity and will continue to do so in future.