15 August

Coworking Spaces: So Much More Than a Rental (and Other Myths Debunked)

If you’ve ever considered trying out a coworking space for your business, you’ve likely heard several “myths” surrounding them. There seems to be a lot of misconceptions and confusion out there in regard to shared spaces, but the truth is, most offer invaluable benefits when compared to traditional spaces. To better understand what coworking spaces are (and if they’re right for you), it helps to know what they aren’t. Here is a look at some of the most common coworking myths and why they are debunked:

Myth #1: Coworking Spaces Are Only for Millennials and Freelancers

Since coworking spaces are a relatively new (but rapidly expanding) concept, it’s easy to understand how some may be confused as to what they are and who they are for. Somewhere along the way, coworking spaces have gained a reputation for catering only to those who are freshly entering the working world or only in specific areas of interest.

The truth is, coworking spaces are offered across the globe in record numbers and cater to all individuals and businesses. In fact, most spaces pride themselves on incorporating a highly diverse group of professionals in their spaces. Keeping a workplace community with individuals in all stages and areas of business offers members an unparalleled set of resources in the same space.

Myth #2: You Must be a Social Butterfly to be a Member

While it’s true that coworking spaces provide fantastic social and networking opportunities on a daily basis, you don’t need to worry about privacy or space to work on your own. Since most spaces offer private office spaces, cubes, or designated quiet areas, there’s always somewhere for those who wish to have a more solo experience as well.

Myth #3: You’re Limited to Access the Things You Need

Many people assume that a coworking space will limit their accessibility to things they need. This, however, couldn’t be further from the truth.

With coworking spaces, you’re free to come and go as you please – meaning, you create your own hours. As you continue your coworking membership and get to know others in your shared spaces, you will begin to mesh out a schedule that works best for you and doesn’t interfere with anyone else in the space.

Myth #4: You Must Sign a Long-Term Contract or Lease

Another myth is that coworking spaces run like rental properties and leases, requiring you to sign a designated contract ensuring you’ll stay for a specified length of time. Since this can be quite a detraction for those who need flexibility, many swear off coworking spaces before they even get inside the door of one to check it out.

The truth? While there are likely some spaces that operate that way, most coworking communities are designed specifically to help those with flexibility needs. Meaning, the majority of shared spaces offer many different tiers of membership options that allow you to utilize the space only as you need it. In other words, most offer simple pay-as-you-go options that require no long-term contracts.

While all spaces operate under their own policies and procedures, you’ll never know if they’re right for you unless you chuck the myths and check them out on your own. Ask someone who participates in coworking spaces or take a visit of a nearby shared community – those are the best ways to debunk the myths and find what works for you.

 

1 July

The Coworking Movement: What Is It and Why It Might be Right for You

Whether you’re a small business owner or a freelancer, planning a start-up or self-employed, one of the most important decisions you’ll face is where to set up shop. You’ve likely considered the usuals: home office, rented storefronts or building spaces – but did you know there is another option? The coworking movement is trending today, and for good reason.

What Is the Coworking Movement

Coworking is a relatively new concept that’s quickly gaining ground in the U.S. and it’s easy to see why. With the options and flexibility of coworking spaces, they are a great fit for many different entrepreneurs. So just what is coworking?

According to CoworkingResources.org, “coworking is a shared office space where entrepreneurs, freelancers, remote workers, and anyone else who wants access to a fully-equipped space can get a membership.”

In essence, coworking spaces are community offices that allow workers of all walks of entrepreneurship to come together. They are essentially a place to network and share ideas with others while still offering private work and meeting areas for an affordable membership fee.

Strong Growth Pattern

If you’re considering a coworking space, you’re not alone. Statistics have shown coworking spaces have a strong growth pattern, continuing to catch on across the globe. Harvard Business Review explains the new trend is due in large part to the many benefits associated with office sharing:

“…People who belong to (coworking spaces) report levels of thriving that approach an average of 6 on a 7-point scale. This is at least a point higher than the average for employees who do their jobs in regular office spaces.”

With such a high number of employees reporting positive rankings for coworking, researchers wanted to take a closer look. What is it about coworking spaces that creates a highly satisfying work space?

A Networking Hotspot

Since coworking offers unique opportunities to network with others in various professions, the benefits are practically endless. In addition to the fully stocked office equipment coworkers have access to, networking with individuals with other entrepreneurial specialties can be exponentially advantageous.

“In a shared office space, there are usually dozens of other people – if not hundreds – occupying the same location as you, and those demographics will likely change every month. It’s a perfect place to meet new people in the professional world…” writes Forbes.com.

Beyond the Networking Opportunities

Outside of the networking opportunities, there are several other benefits reported by those who are already coworking members. Among the benefits, coworking spaces offer members:

  • Flexibility of membership (monthly, no long-term lease requirements)
  • Freedom (come and go as you please, no set hours or required schedule)
  • Less Pressure (no office politics or competitions with others as with a traditional office)
  • Community Support (get advice and ideas from a wider range of coworking community members)
  • Fantastic office spaces at budget-friendly prices

Above all, the coworking trend is catching on because it offers a unique and affordable office experience for those looking to get away from the traditional conformity. With the flexibility and networking opportunities associated with coworking, it’s no wonder coworking office spaces are increasing in popularity.