If you’re an entrepreneur, you know that one of the most challenging parts of running your own business is creating ideal working conditions. This is true whether you have numerous employees to manage or work as a sole proprietor. One of the most recent trends in the entrepreneurial sector is the concept of a coworking space. These professional environments provide entrepreneurs and freelancers an alternative to working from home or renting a traditional office. Switching to a coworking space can offer both benefits and challenges, and this work environment may not be right for everyone. Here are some things to consider when you are determining whether a coworking space is the best option for you and your business.
A brand new coworking space in a trendy part of town may look like an attractive option, but it is important to think about all aspects of the location. For example, you may find it difficult to motivate yourself to go to your coworking office every day if you live far away. If you plan to meet clients there, you need to consider how the location would work for them as well. Is there affordable and accessible parking in the area? If you plan to take your clients out to eat, you may want to choose a coworking space that is near several restaurants or coffee shops.
While renting a coworking space may seem like a bargain compared to the cost of occupying a traditional office, it could be more expensive than working out of your home. Figuring out how a move to a coworking space affects your budget is an extremely important part of the process. If you currently have a home office, your tax write-offs may change if you move to a coworking space. Before choosing a space, make sure you understand how the billing process works. Some places may require you to sign a long-term contract whereas others may allow you to pay on a monthly basis. You may be able to find a coworking space that has a trial period, so you can make sure it will be a good fit before making a commitment.
Not all coworking spaces have the same setup or options available. For example, many spaces offer a hot-desk situation with multiple workspaces. Whenever you go there, you simply plug into an available workstation. This option is usually the most affordable, but it may be challenging if you plan to meet clients or team members there. Other spaces may offer you the chance to reserve a fixed desk, which can be beneficial if having a routine is important to your workflow. Another possible option is a cabin space, which is very similar to a traditional office suite. You may be able to limit the access to a cabin space to only your team members and clients.
Perhaps one of the most important things to consider is whether the environment of a coworking space would be beneficial to you. Some entrepreneurs enjoy the chance to be around people in an office setting whereas others are distracted or uncomfortable when surrounded by a large crowd. If you decide to move to a coworking space, you may have to change your workflow slightly to avoid distractions. There are several ways to improve your shared office productivity, such as wearing headphones, using scheduling tools, and taking regular breaks.
Coworking spaces can offer freelancers, small business owners, and entrepreneurs many of the amenities of a traditional office at a more affordable cost. If you want an alternative to working from home, moving to a coworking environment may be a good option. Before signing a contract, consider essential aspects such as the location, work environment, and cost.