Why People Thrive in Coworking Spaces

There seems to be something special about coworking spaces. As researchers who have, for years, studied how employees thrive, we were surprised to discover that people who belong to them 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 offices, and something so unheard of that we had to look at the data again.

It checked out. So we were curious: What makes coworking spaces – defined as membership-based workspaces where diverse groups of freelancers, remote workers, and other independent professionals work together in a shared, communal setting – so effective? And are there lessons for more traditional offices?

To find out, we interviewed several coworking space founders and community managers, and surveyed several hundred workers from dozens of coworking spaces around the U.S. A regression analysis following our survey revealed three substantial predictors of thriving:

People who use coworking spaces see their work as meaningful. Aside from the type of work they’re doing – freelancers choosing projects they care about, for example — the people we surveyed reported finding meaning in the fact that they could bring their whole selves to work. They’re able to do this in a few ways.

First, unlike a traditional office, coworking spaces consist of members who work for a range of different companies, ventures, and projects. Because there is little direct competition or internal politics, they don’t feel they have to put on a work persona to fit in. Working amidst people doing different kinds of work can also make one’s own work identity stronger. Our respondents were given the opportunity to frequently describe what they do, which can make what they do seem more interesting and distinctive.

Second, meaning may also come from working in a culture where it is the norm to help each other out, and there are many opportunities to do so; the variety of workers in the space means that coworkers have unique skill sets that they can provide to other community members.

Lastly, meaning may also be derived from a more concrete source: The social mission inherent in the Coworking Manifesto, an online document signed by members of more than 1,700 working spaces. It clearly articulates the values that the coworking movement aspires to, including community, collaboration, learning, and sustainability. These values get reinforced at the annual Global Coworking UnConference. So in many cases, it’s not simply the case that a person is going to work; they’re also part of a social movement.

They have more job control. Coworking spaces are normally accessible 24/7. People can decide whether to put in a long day when they have a deadline or want to show progress, or can decide to take a long break in the middle of the day to go to the gym. They can choose whether they want to work in a quiet space so they can focus, or in a more collaborative space with shared tables where interaction is encouraged. They can even decide to work from home, without repercussion, if they need to meet a repairperson or deal with a family member need.

And while coworkers value this autonomy, we also learned that they equally value some form of structure in their professional lives. Too much autonomy can actually cripple productivity because people lack routines. Coworkers reported that having a community to work in helps them create structures and discipline that motivates them. Thus, paradoxically, some limited form of structure enables an optimal degree of control for independent workers.

They feel part of a community. Connections with others are a big reason why people pay to work in a communal space, as opposed to working from home for free or renting a nondescript office. Each coworking space has its own vibe, and the managers of each space go to great lengths to cultivate a unique experience that meets the needs of their respective members. Grind, for example, is a growing network of coworking spaces in New York and Chicago. Anthony Marinos, who oversees Grind’s marketing, community management, and member services, shared with us, “When it comes to cultivating our community at Grind, we’re all about the human element. We consider ourselves as much a hospitality company as we do a workspace provider. Our staff knows all of our members by name and profession, and we’re constantly facilitating introductions between Grindists.”

WeWork, which recorded a valuation of $5 billion last December, emphasizes how it “seek[s] to create a place you join as an individual, ‘me’, but where you become part of a greater ‘we.'”
Importantly, however, socializing isn’t compulsory or forced. Members can choose when and how to interact with others. They are more likely to enjoy discussions over coffee in the café because they went to the café for that purpose – and when they want to be left alone elsewhere in the building, they are. And while our research found that some people interact with fellow coworkers much less than others, they still felt a strong sense of identity with the community. We believe this comes from coworkers knowing there is the potential for interactions when they desire or need them.

So what are the implications for traditional companies? Even though the coworking movement has its origins among freelancers, entrepreneurs, and the tech industry, it’s increasingly relevant for a broader range of people and organizations. In fact, coworking can become part of your company’s strategy, and it can help your people and your business thrive. An increasing number of companies are incorporating coworking into their business strategies in two ways.

First, they’re being used as an alternative place for people to work. Michael Kenny, Managing Partner of San Diego-based Co-Merge, told us, “In the past year and a half, we’ve seen a dramatic increase in the use of the space by enterprise employees. We have seen teams come in to use various on-demand meeting rooms. We have users from global companies of size ranging from several hundred to several thousand employees who use the space not only to allow their distributed workers to get productive work done, but also to attract employees who demand flexible workplace and work time.”

Grind is also witnessing growth in the number of remote workers who are becoming members. “We haven’t had to reach out to larger organizations, they actually tend to just come to us,” Anthony Marinos says. “We’ve had employees from Visa, journalists from the Chicago Tribune, and even people affiliated with large financial institutions all work out of Grind.”

Spending time away from the office at a coworking space can also spark new ideas. Rebecca Brian Pan, the founder of COVO and former chief operating officer of NextSpace, explained how Ricoh’s innovation team worked out of NextSpace Santa Cruz for several months to observe how people work and where they hit pain points. Based on member insight and feedback, and their own observations, the Ricoh team explored several new products that could help members in their daily work and chose the most highly rated product to pursue. From this effort, Ricoh later launched this product globally as their Smart Presenter, a paperless meeting solution.

Second, the lessons of coworking spaces can be applied to corporate offices. Just as it’s important to encourage flexibility and support your mobile workforce, there is an equally important reality of creating the right kind of work environment inside your own walls. But this doesn’t just mean creating open plan layouts or adding a coffee bar.

In reality, people need to be able to craft their work in ways that give them purpose and meaning. They should be given control and flexibility in their work environment — many companies are increasingly adopting the best planning practice of providing a 1:1 ratio (or close to it) of desk seats to seats in shared settings used for either collaborative work or quiet work.

Companies are also trying to enable more connections, helping people to interact and build community beyond work meetings. Coworking spaces are one place to look for guidance, as they regularly offer networking events, training programs, social events, and even summer camp. Some companies are going even, further, however. Rich Sheridan and James Goebel, founders of Menlo Innovations in Ann Arbor, Michigan, recently expanded their office space by 7,000 square feet so that so that start-ups and early stage entrepreneurs can work alongside Menlo programmers to spur community and innovation.
In a way, the company is reverse-engineering its office into a coworking space.

Our research — which is ongoing — suggests that the combination of a well-designed work environment and a well-curated work experience are part of the reason people who cowork demonstrate higher levels of thriving than their office-based counterparts. But what matters the most for high levels of thriving is that people who cowork have substantial autonomy and can be themselves at work. Our advice to traditional companies who want to learn from coworking spaces is to give people the space and support to be their authentic best selves. The result will be employees who feel more committed to your organization, and are more likely to bring their best energy and ideas to the office each day. Even if it is corporate headquarters.

A version of this article appeared in the September 2015 issue (p.28, 30) of Harvard Business Review.

Consider the new lease accounting standard below getting an office space

A big change in accounting will put $3 trillion in liabilities on corporate balance sheets

 

  • A big change in lease accounting rules effective Jan. 1 requires companies to record operating leases on their balance sheets.
  • Operating leases include everything a company rents to run its business, from office space, equipment, factories to planes and cars.
  • The accounting change will result in an increase in company leverage, a key measure when evaluating a company’s risk.
Accounting

A new corporate accounting rule is about to pull an estimated $3 trillion out of the shadows.

Starting this year, companies are required to record the cost of renting assets used in their operations, such as office space, equipment, planes and cars, on their balance sheets rather than bury that expense in the footnotes of their financial statements, thanks to a new accounting standard now in effect.

The result will be trillions of dollars added to liabilities on their books. Until now, only leases that led to the purchase of the asset were accounted for in this manner. The change, by the Financial Accounting Standards Board, is supposed to make it easier for investors to evaluate a company’s financial obligations.

Sheri Wyatt, a partner at accounting firm PricewaterhouseCoopers, said “It’s going to affect all companies’ leverage. They will have more liabilities on their books than they had previously.”

Morgan Stanley expects the consumer discretionary sector to experience the largest increase in debt because of this change, and it estimates the leverage ratio for the retail sector to grow to 3.4 times from 1.2 times.

U.S. public companies are committed to a total of $3 trillion in operating leases, according to International Accounting Standards Board. Companies with large amounts of operating leases include retailers and restaurants that lease properties and airlines and shipping companies that lease airplanes, cars and ships.

It may force investors, including quantitative funds, to change the way they measure certain financial criteria they use in making their investment decisions. Leverage — measured in the ratios of debt to earnings or debt to equity — is a fundamental number used when evaluating a company’s risk.

Analysts and sophisticated investors hadn’t really ignored the large amounts of lease obligations when calculating debt ratios. For many years, they have been capitalizing leases by multiplying the annual rent expense by 8 times to get the estimated value of the remaining lease payments. However, the numbers companies now have to put on their balance sheets may look very different than those estimates.

“I do think people will have to adapt to new metrics – and they may be surprised. The liabilities and assets that companies report may look very different from the ad hoc estimates that people have used in the past,” Todd Castagno, equity strategist at Morgan Stanley, told CNBC.

“Those very common metrics that people look at to value equities, to look at performance, to screen for high quality stocks, all those ratios are going to change,” Castagno said.

Quant fund surprises

The change in company leverage will directly affect some quantitative funds that use leverage as a screen.

For example, the MSCI Quality index uses debt to equity as one of the metrics to rank companies. If a company’s debt to equity ratio changes significantly due to the new accounting standard, it will get screened out of the index.

“You might have different companies moving in and out of what you define as quality depending on how these ratios change,” Castagno said.

To be sure, the additional liabilities on the balance sheets shouldn’t have an effect on company credit ratings as they had already been taken into account.

“We don’t expect a significant rating impact,” said Kevyn Dillow, accounting analyst at Moody’s Investors Service. “The credit quality is not changing. Moody’s estimate of a lease obligation is pretty precise in that we calculate a present value based on company’s disclosures.”

Data vendor inconsistencies

To add to the complexity, some data vendors haven’t incorporated lease liabilities into companies’ total debt amounts, and won’t in the future. Depending on what platform investors use, they will get very different numbers.

For example, Refinitiv will not treat operating leases as debt for U.S. companies, only as non-debt liabilities on the balance sheet, to “allow clear comparability of reports across companies, markets and accounting standards,” a spokesperson told CNBC. It will only add the leases liabilities to debt for companies filing under International Financial Reporting Standards, mostly in the European Union, Asia and South America.

Bloomberg Terminal is already incorporating lease liabilities in company debt.

FactSet told CNBC that it has not updated the data for early adopters yet but will capture the operating leases as part of the debt in the next reporting season.

“Some of the data vendors are adjusting and some of them aren’t. Depending on what data vendor you use, you are going to get very different metrics. I think people are concerned with that,” Castagno said.

by: Yun Li

9 Reasons Your Startup Really Does Need Office Space [Inc Magazine]

by Justin Lee Inc Magazine
9 Reasons Your Startup Really Does Need Office Space
The word “office” may conjure images of dreary cubicles and fluorescent lighting, or, if you’re lucky, a very funny TV show starring Steve Carell. But these days, an “office” usually means any environment to which people dedicate most of their business hours.
Of course, there’s been a surge in the debate recently over whether or not startups need office space at all — thanks to free wifi in most cafes, an uptick in remote work arrangements and the increase in other alternatives to working at a desk 9-to-5. And, naturally, the arrangement that works best for your business depends on a number of variables deserving careful consideration.

But for entrepreneurs fortunate enough to run a business that is growing and adding individuals to its team, the idea of an organized work space with dependable infrastructure and room to fit a budding workforce shouldn’t be so easily dismissed.
Here are nine reasons entrepreneurs should think carefully about providing an environment where their team — and their business — can thrive.

1. Attracting talent

A company’s office space can be a clue to its stature; everything from its financial health to its work philosophy can find expression in the walls of its physical space. There’s a reason the most celebrated companies in the world are recognized for living in celebrated homes, too: Office space is one of the endemic ways a brand communicates its essence.
Among the audiences for that communication, perhaps the most important is the top talent these brands — especially those of growing startups — are trying to attract. The best and brightest want to know they’ll be working for a company that’s going to be around for a while.
They want to know that the physical space they’ll be working in is appealing and comfortable. After all, they’ll be spending a majority of their time there. And, clearly, they won’t get that impression if your company is one without any space at all.

2. Team-building

Team-building is more than a lofty exercise; it can result in a supportive work environment, which is crucial to your team’s success. If you’re trying to build a top-notch sales organization or make sure your product and marketing are better integrated, what better way to foster that dynamic than with an environment where employees can socialize and support one other?

3. Social life

Socializing segues naturally from team-building. For some people, co-workers end up being close friends, even outside of the office. Any time you can help employees improve their social lives, you’re providing a holistic benefit that makes them happier — and by extension more productive — at work.

4. Punctuality

If you’re fond of meetings that start on time and run smoothly, you should seriously consider an organized work space for your startup. One of the biggest myths about startups and office space is that, thanks to video-conferencing tools like Skype, Google Hangout and Vidyo, you don’t really need to meet in person at all.
But varying degrees of network connectivity and the resulting latency issues, among other technical problems that can arise, often mean that 10 to 15 minutes elapses before everyone can simply hear and see each other. That won’t be a problem if everyone is in the same space.

5. Accountability

Accountability issues happen all the time. Think about the yellow-orange “idle” or red “busy” icon next to a employee’s name on Google Chat. You open a chat with him or her anyway. No reply.
Is that person even there? Or sunbathing in the park? If everyone is at the office, the no-show problem lessens (somewhat). At the end of the day, though, your company is facing productivity and accountability issues. Your team is made up of people who have diverse interests and hobbies, and their ability to pursue them is a big part of what keeps them happy and productive

You just want to make sure they pursue them on their time, not yours. And, an office helps.

6. Investors

Another great reason to consider office space is if your investors advise you to. More comments from hands-on investors will help you account for all the factors you need to consider before deciding whether or not to move operations to an office.

7. Professional development

Whether it’s for hosting a guest speaker series, running workshops or starting a mentorship program, a space you can call home allows you to facilitate and effectively market more professional-development opportunities.
When you show employees you’re willing to invest in their growth as people and professionals, that gesture goes a long way in keeping those employees satisfied and motivated to build their careers with you.

8. Health

Research shows that a healthy team makes a productive team. As an employer, with an office, you can play a significant role in your team’s performance by making sure the pantry is stocked with healthy foods throughout the day.
In many cases, the food you provide employees may be healthier than what they stock at home. And, commuting to an office usually involves more physical exercise than pulling on a pair of sweatpants in the morning to work from home. Whether it’s climbing the stairs out of the train station, walking to and from the office or taking frequent breaks to re-up on water and walk around the work space, office life isn’t without its health benefits.

9.Exposure to diversity

In every industry, exposure to different viewpoints, skill sets, levels of experience and personal histories (including race and gender) in the course of business is healthy. An office ensures that your team members are getting this exposure (assuming, of course, that you’re building a diverse team) in a collegial atmosphere.
Securing office space for your startup is by no means a light decision. It will represent one of your most significant expenses, and it typically requires a 3-to-5 year commitment. That can be a scary thought when you’re not entirely sure where your business is going to be in five years.
But you can always consult resources to help you determine your readiness for office space and determine what you need to know, to start looking.
What’s more, finding a home for your business can be a tremendous launching pad for your next phase of growth. Is it the right choice for you?
Schedule a tour

Community in CoWorking | WorkSocial

Adapted from: Success Magazine; Larry Keller

Entrepreneurs find opportunities to collaborate, network and increase their productivity at co-working spaces that have popped up everywhere. 

Coworking sites are shared open-plan areas where people work independently but communally. Members include telecommuters, freelancers and other independents weary of working from a coffee shop or home, as well as entrepreneurs looking for collaborators. Costs vary depending on the amount of use.

It’s About Relationships

Other businesses are taking notice. The Global Workspace Association—a service industry group for business center and executive suite owners and managers—has added coworking facilities to its membership rolls, and some hotels now offer space for co-working.Co-working purists say those sorts of spaces aren’t the real deal.  Survey participants cited many reasons why they worked in a public setting. Some wanted a network of people to talk to. Others found the ambient noise helpful or said that watching passersby helped them focus. Still others needed to escape distractions at home. Some co-working operators say members tell them that being around other independent workers motivates them. 

Collaboration and Productivity

People clearly are more productive when working around others. Independent workers—especially those with families—can benefit from working away from home because doing so establishes a clear boundary between their professional and personal lives.

Assisted Serendipity

Coworking sites have a number of ways to help facilitate seemingly chance encounters. Happy hours and lunches to introduce new members are one means.  Many co-working sites cropped up around the time of the Great Recession, when new college grads couldn’t find work, and workers who had jobs were losing them. Co-working spaces seemed like a good place to network at the time.

No More Traditional Employment

The Intuit 2020 Report forecasts that during this decade,“Traditional employment will no longer be the norm, replaced by contingent workers such as freelancers and part-time workers. The long-term trend of hiring contingent workers will continue to accelerate with more than 80 percent of large corporations planning to substantially increase their use of a flexible workforce.” By 2020, contingent workers will comprise more than 40 percent of the U.S. workforce, Intuit forecasts.
The Intuit report also sees work shifting from corporate offices“toward an in-my-own-place, on-my-own-time work regimen.” Many of these workers will need a place to do business. That bodes well for co-working companies. 

Community as Selling Point

Co-working isn’t for everybody. Members tend to be men in their 20s and 30s who work in digital and tech-related fields. Even with pervasive technology that enables people to communicate all day without speaking to one another, workers will continue to seek face time.“Technology changes the way we act. But there is still this innate need for affiliation, for interaction, that technology doesn’t solve. I think it’s such an important need, and it won’t go away.”

3 Benefits of Innovative Office Design

Adapted from: forbes.com

So let’s consider the “future of work.” According to Gallup’s 2014 State of the Global Workplace report, 51% of workers said they weren’t engaged with 17% saying they were actively disengaged.

So what can improve these dismal stats and increase productivity and workplace happiness?
The answer is simply office design. With the way we work changing, where we work needs to keep up.

1. Effective use of space

By having access to natural light, collaborative spaces, and private meeting rooms, you’ll increase employee satisfaction and productivity. People will feel free to move around and won’t feel tied to their desks, creating more opportunities for creative collaboration.

2. Increase in Productivity

By having workplaces that are beautiful and interesting, employees become more productive. Investing in the ambiance of your office will change the overall mood. People will look forward to coming to work instead of counting down the minutes to freedom.

3. Urge for More Collaboration

Innovative workplaces shake things up. They smash glass ceilings and break the mold of what is expected. As a result, employees in this environment adapt the same attitude. They are more creative, and people are coming together instead of working in silos to solve problems.

Office Spaces for Rent: 10 Benefits of Coworking

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.

Without further ado, here are some of the main advantages of coworking:

Escaping Home Environment

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.

Reducing Costs & Adding Flexibility

 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.

Improving your Effectiveness

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.

Create an amazing network

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.

Improving your social life and avoid loneliness

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.

Accessible expert help when needed

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.

Taking Yourself (and your Business) Seriously

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.

Reducing Uncertainty

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.

Build a team

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.

Education opportunity and events

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!

Helping you Work in Comfort

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.

WorkSocial will help you support employees in a changing market

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

CoWorking Spaces and Sharing Collective Ideas in a Work Environment

Your company has perhaps had to face some challenging facts recently: You need some fresh ideas, but don’t know where to turn to bring new perspectives. It’s certainly easy to become complacent when you’re so used to doing things the same for years. This is a big problem for a lot of companies who end up going into automatic pilot.
Forbes reported on the alarming nature of this a few years ago with two startling phrases:

“Leadership is in danger; Complacency is becoming the new normal.”

You simply can’t let this come about, even if it sneaks in under the radar for your employees. A solution might mean looking into a popular new concept: co-working spaces!
If you’re new to such a network, we can help at WorkSocial.

Getting Away from the Crutch of Work From Home

One thing perhaps feeding the lack of fresh ideas above is you’re allowing yourself or employees to work from home. While this can work for many to think more originally, it’s still going to mean one train of thought rather than from outsiders.
Also, it’s often noted that work from home still has too many temptations and distractions. It’s hard for someone to get disciplined on critical thinking if they have too many distractions from social media, TV, or countless other media options.
So what are the real benefits of joining a co-working space? It’s going to help you or an employee change your own perspectives on work value.

Gaining Insight From a Co-Working Network and an Array of Experts

Think of a co-working network like the best intellectual drinking establishment. While you likely won’t sip cocktails together, you’ll at least be congregating in one collective place where you can gain insights from members making up numerous companies.
These members are going to have hundreds of years of collective experience! They’ll have just as many ventures or projects on their resumes! While you’ll have a mix of newer business experts and older, all of their opinions are going to matter when discussed as a group.
Much like a business conference, where you discuss the latest trends, a co-working network is your specialized group to turn to when you’re truly stuck on an original idea.

Collaborating Together on Projects

Once you meet, it’s not just a one-shot meeting and then breaking up. Co-working means an ongoing business relationship, as in working on one project together. Bringing these outsiders into your own project is going to mean superior networking like you can’t find anywhere else.
Now you can finally breathe new life into your company thanks to contributions from those who’ve seen it all. It could take just one idea from these co-workers to change your project into something beyond your initial expectations.
To make this collaboration work well, you’re going to need a lot of good digital tools to keep you continually communicated.

Entrepreneurs Benefit the Most From Co-Working Spaces

As The Balance notes, co-working spaces are best for entrepreneurs who need expertise from people already in the trenches on how to get a good idea going.
Since this may involve a freelance schedule, it opens a more flexible schedule to work in these co-working networks.
Millennials are a big part of this universe as more of them become entrepreneurs and take on self-employed careers.

How Fast Are Co-Working Spaces Growing?

According to Dropbox, the co-working market grew at a high rate up through 2017. Last year, there were 13,800 networks worldwide and 1,180,000 members globally.


At WorkSocial, we can help you join in and finally find a way for you to get away from complacency. With our co-working spaces, you can gain valuable insights from others your own employees couldn’t achieve to maintain your company mission.
Contact us to learn more about our business that also includes virtual offices, conference rooms, and training venues.

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