As an entrepreneur, freelancer or remote worker you should consider the advantages of coworking when you pick your work environment. The other solution for those who want to stay away from home or coffee shops would be renting a long-term office space which results in high costs and lack of flexibility. That’s where coworking comes in!
A “coworking space” is a place where you can go on a daily basis, sit down at a random table (or a fixed one, in certain places), and enjoy a good internet connection, coffee, a kitchen, and the company of like-minded people. Altogether, it supplies you with an office environment without the necessity of everyone working on the same project, to each his/her own, but together.
If you work from home, there’s no real accountability. It’s too easy to get distracted by your bed, your TV, and fridge and lose valuable time. In addition to that, family related chores will always present themselves since if you are at home, you must be available… The separation of work from home is important for many of us and also allows you to breath some fresh air and feel alive instead of spending most of your day at home.
In case you have decided that it is time to get an office, a coworking space makes a lot more financial sense than renting your own office. Renting an office includes taking care of installing infrastructure and taking care of utility bills that drain cash and time. The staff in the coworking space will take care of that for everyone. Also, regular office rental requires signing long term contracts, usually for a minimum period of one year. Coworking spaces allow you to rent your Table or even a room for a few days, weeks or a month and allow you to focus on what counts: Your work.
Research shows that people who use coworking spaces are more effective due to the energy and mindset adjustment that is generated by the interaction and acountability a coworking environment creates. That means that the financial costs of using a coworking space are much lower than the financial benefits it creates.
Coworking spaces will boost your network and in turn connect you with the most relevant people for your business, from potential clients, suppliers or even business partners. In coworking spaces you are guaranteed to meet high quality, talented, and like minded people to add to your network that might become critical for your business.
Working alone is isolating and can affect your mood. Having coworkers and interaction is covering a social need. The idea at a coworking space is that although you are working by yourself, you are surrounded by awesome people. The members of the coworking space have picked a unique and independent lifestyle just like you, and those are exactly the kind of people you want to be surrounded by. Coworking simply makes your day more energizing, fun and happy.
One of the biggest drawbacks of leaving a 9-to-5 job is missing out on the best source of meeting new people, your office. Jobs provide us with a major source of new friends, and once you leave your work this source is depleted. A coworking place allows you to fill in the gaps and make new friends with interesting people in new places.
Coworking spaces gather the best minds, each expert in their own field. After you dedicate some time to build your social network in the coworking space, you can approach your expert friends for high quality advice on a wide range of topics like social media and digital marketing, programming, design and much more. The synergies and mutual help of one member to another is invaluable.
This one is a little deep, so let’s start with an example: It is a common recommendation to work at home with clothes you would wear at the office. Working with flip-flops in your pajamas usually decreases your productivity as you are signaling to yourself that you are not in work mode. Using a coworking space will make you aware of your appearance and clothing, and taking the time to walk/drive to your place in addition to the money you spend on it will remind you that your work is important enough to take it seriously and value your time and skills.
Trying to find the best place can create some uncertainty and frustration, since you will find yourself running from one coffee shop to another hoping that today it won’t be too crowded or loud and that the internet is going to work. In case you have to make calls, the noise in coffee shops can be frustrating to you and the people around you. Coworking spaces usually have isolated Skype booths and conference rooms for you to use. Some other reliable advantages of coworking spaces over coffee shops include access 24 hours a day (in case you are on a deadline or have a crazy schedule), and free printing (always valuable). In general, uncertainty takes time and energy that could have been put toward working for your clients, and it makes you feel less happy in general. Coworking provides your life with stability.
Scaling and truly become successful usually involves working with others. There will be a time when it will make sense to slowly building a team and hiring a person to help your business grow. In some situations you can hire someone to hire remotely, but let’s be 100% honest, nothing beats working together in the same physical space. A coworking space allows you to invite another person to work with you without the need to rent a dedicated office. As your team grows, many coworking spaces also offer the option to rent a team room which helps your team to focus working on your projects while also enjoying the interaction and perks outside of your dedicated room.
Most coworking spaces organize events as a critical way to both increase revenue, and market themselves. That means that as a coworking member, you will have fast and easy access (mostly free) to interesting events and education opportunities ranging from lectures about entrepreneurship and startups to yoga sessions!
Free coffee, fridges, microwaves, even full lunches. You often save money in this kind of working environment because unlike a cafe where your small costs add up without you noticing, a coworking space lets you know what you will pay upfront (coworking will probably be cheaper than three Starbucks coffees per day). Coworking spaces usually offer lockers as well, which gives you another place to store your stuff safely in case you need to go somewhere during the day.
The consumer-driven economy is forcing every kind of organization to move towards more flexible staffing models. As we expand to new social arrangements, we expect more private companies, non-profit organizations, and government agencies to scale down office facilities and rely more on temporary workspaces for flexible work models.
Some types of work may be easy for telecommuting employees to perform from home as well as headquarters-based employees, but others call for a reliable office from which to operate. Large headquarters, as well as bricks-and-mortar store locations, might become less important soon. Meanwhile, multi-use spaces that support dynamic market conditions and employee configurations should prove more cost-effective than existing facilities.
We recommend that your company does not operate permanent offices in different cities unless they are needed at multiple points during the year. By using our facilities, your organization can easily accommodate temporary meetings and workspace needs while not incurring the overhead associated with long-term facilities. We are here to help organizations maintain economies of scale.
For more details on booking space in a coworking environment without losing productivity, please contact us today.
Adapted from: www.becomenomad.com
Did you know that 9 out of every 10 businesses that start fail within the first year? That is a staggering statistic that indicates the odds are against every entrepreneur. We don’t read about that much on the internet. When’s the last time you opened a blog that said: “guess what, if you’re an entrepreneur, the chances are that you will not succeed”? We don’t like to hear about that.
Instead, we want to hear about the 1 in 10 that make it. We like to listen to podcasts about Mark Zuckerberg and Jeff Bezos. But denying reality doesn’t exempt us from it. The key is not to hide and pretend that the odds are against us. The key is to find out what makes some entrepreneurs succeed while the majority of all the others fail.
Finding that formula will help to put us in the 10% success rate.
So what’s the secret? How do some entrepreneurs succeed against the odds?
There are in fact 2 key ingredients that determine why some entrepreneurs succeed. Without these 2 factors, one can easily fall into the 90% statistic of unsuccessful startups.
So what are the 2 things successful entrepreneurs have that the unsuccessful ones do not?
Let’s take a close look at each one together.
Conventional wisdom says to always have a plan B. And for successfully established companies, that is good, sound advice. But plan B is risk management. And risk management is counterintuitive to the entire entrepreneurial process. We aren’t advocating to throw common sense to the wind, but the fact is that if plan B is an option, then plan A does not have to work.
For example, the employee who quits and says, “If it doesn’t work I’d like to come back,” and then goes on to start his own business has done two things. The first is that he has made a wise choice in minimizing his risk of the entrepreneurial endeavor not succeeding. The second thing he has done is minimized the chances of the entrepreneurial endeavor succeeding at all.
The reason is that psychologically he knows it does not have to work. If it doesn’t, he can always go back to his former job. Again, that is wise risk management, but it is bad entrepreneurial launching.
As is the case in every financial endeavor, risk and reward have a direct relationship. Diversity in an ETF with stocks and bonds and you will get more consistent, lower returns. Drop all your money into a promising stock and get really rich or lose it all.
The same is true for successful entrepreneurs. If you have a bridge to cross in the event the business tanks, you will not have to succeed. If you burn the bridge, however, your business has to work. And that makes all the difference.
We’re not saying you need to quit your job in an unprofessional manner. But we are saying that you’ve got to burn the fields behind you and not look back.
In 1519, Hernan Cortes landed in Veracruz Mexico and conquered the land. Do you know how he did it? When he landed, he burned the ships that sailed him and his crew to Mexico. At that point, he had to conquer it. There was no other choice.
The same is true for all successful entrepreneurs.
If your business has to work, then the chances of it working greatly increase. If you have fall-back options, then you just might fall back.
“Let’s see if this will work,” is a terrible strategy. It is too flimsy. Successful entrepreneurs don’t say “if” – we make sure. A lot of this is mindset. The hard part is maintaining the decision to win when the evidence says you will lose.
When you launch your idea, you do so with a desire to win – to be successful. But what happens when venture capital investors decline your invitation to invest? What about when traffic doesn’t flock to your blog? How do you handle negative reviews and customer critiques?
What happens to many entrepreneurs is that their mindset (and thus, their game plan) shifts with the facts. When they started, they desired to win, but when the evidence started saying they were going to lose, they believed the facts.
At that point, their desire to win became a decision to lose. And from that point on, the rest is usually history (in a bad way).
What successful entrepreneurs do is launch with a desire to win. Then, when facts to the contrary start rolling in, we decide to win. We make the decision that we are going to win regardless of what the numbers are saying at the moment.
We will win. Period. This is a decision based on a mental state, not on the facts.
And it is this mental state that carries us over the hurdles, around the mountains, and through the tunnels.
We simply decide to win and refuse to accept any other possibility.
All in all, successful entrepreneurs don’t have it easy. It requires risks and a willingness to (not deny but to) overcome the facts.
We burn the bridges behind us and abandon any plan B, other options, or alternative routes. Our idea has to work.
And once we start making it work, we refuse to believe the overwhelming evidence that stacks against us. We decide that we will win no matter what.
And when launch with these two secrets in place, we end up in the category of the 10% of successful entrepreneurs who make their dreams come true.
We invite you to contact us about how we can be a part of your journey as a successful entrepreneur.