Adapted from: naiop.org
Coworking centers and executive suite facilities have become one of the hottest trends among tech startups, freelancers, and creative types seeking community and collaboration with like-minded entrepreneurs. These shared office spaces operate as temporary work hubs that anyone can rent by the hour, day or month. Each is as diverse as the people who frequent it.
Executive suites are fully furnished offices and other types of workspaces that are typically leased on a pay-as-you-go basis. They enable individuals or companies to occupy office space without signing a long-term lease, paying a security deposit, leasing equipment or contracting for telephone, Internet and other services.
Coworking centers differ from executive suites in two important ways: culture and community. Coworking center members who rent plug-and-play communal space typically have similar interests, participate in educational opportunities, share ideas and socialize during events such as happy hours to reinforce a sense of belonging.
Coworking’s spike in popularity mirrors the rise of the nation’s independent workforce, now 30 million strong, with 17.8 million clocking in full time, according to data from MBO Partners. Behind this explosive growth are new technologies that enable today’s highly mobile workforce to conduct business remotely and the freedom to collaborate anywhere, any time using tools such as Yammer, Jiveand Huddle. Corporate downsizing, employee dissatisfaction with traditional jobs, long commutes and new online marketplaces that make matching companies with freelance talent easier and more cost-effective are also fueling workers’ drive for independence.
Millennial workers between the ages of 18 and 34 are now the driving force behind the freelance economy in the U.S. According to research by Coldwell Banker Commercial Affiliates, 63 percent of these “digital natives” are as comfortable working from a mobile device as they are at a desktop computer. They value autonomy, prefer offices with an open floor plan and are more willing than earlier generations to share their workspace with someone else.
This generational shift in the use of physical space has vast implications for the real estate owners, developers and designers who are acquiring, retrofitting and outfitting the office buildings of the future. When workers can connect with colleagues as nimbly across the world as they can across a hallway, and no longer have one fixed office but rather thousands they can quickly and affordably access around the globe, what role should commercial real estate play in an increasingly virtual, hyper-connected world? The industry is discovering that the big corner office baby boomers once coveted is suddenly morphing into an entirely new product.
Shared office spaces are also converging with residential real estate aimed at meeting millennials’ combined needs for social/work hubs, affordable housing and amenities that enhance their well-being. Traditionally slow to change, the commercial real estate industry is gradually shifting from being a space provider to creating experience and community for the next generation. The future of office workspaces will belong to owners and developers who not only understand and can weather the market’s vagaries, but who also respond to their tenants’ nascent work and lifestyle needs by creating diverse, dynamic places that inspire people to perform their best and live life to the fullest.
Success is not entirely defined by visuals, it is defined by creativity and vision. For your startup or small business, think about alternative spaces that will allow your company to grow. These alternatives will massively cut costs that you don’t need to spend.
Sharing an office space with another person is a great way to cut down on expenses for a small growing business. The shared space fosters a great home for your company to grow.
If sharing a small space is not right for you, opt for a room in an executive suite. Having services run by outside people takes a large weight off of your shoulders. You are also surrounded by other small business that you can network with.
If you want a space that fosters not only a great space for your company to grow, but a pace that fosters a great community, then a co-working space is the right fit for you. In a co-working space you are able to have a private office as well as be in a synergetic environment where everyone is looking to achieve the same goal as you: accelerating the growth of their business.
In 2010 we started Version 1 of WorkSocial by accident. My startup failed and I was stuck with a lease of a 2000 sq ft space. We escape the burden of the rent I subleased the 9 Rooms of my office to 5 Companies. I gave it to them at cost – serving up an opportunity to help them grow. It was never about the money.
In 20 days the space was sold out. The business went unnoticed until one day my landlord learned about it and got super upset. In his mind I was making a killing and I should share! He orchestrated a coup threatening by my tenants. To save face and in fear I gave the space back to him. The next day he rented the same space to his partner Indiegrove and they created a coworking space.
I am grateful to my landlord because he validated that I was onto something. I had to rethink my approach so that it aligned to my purpose of abundance and love. A few years later with the help of my wife we created WorkSocial | A Happiness Company.
The exponential entrepreneur is one who understands that creating solutions to world problems are the only road to wealth creation. At WorkSocial we offer a practical platform of doing just that.
If you are an entrepreneur looking to scale your business not 2X or 3X but 100X then join us. Tell us how we can align to expand your network and impact the world. WorkSocial is the go to resource for office space utilizing crowd powered tools positioned to help you grow. If you need an office space in Jersey City, Silicon Valley, Shanghai or Singapore or anywhere else but you just don’t know where you belong at WorkSocial.
WorkSocial has democratized and dematerialized the office space and coworking experience. As the stodgy building owners and landlords resist this metor of change. We all can see that they are headed towards extinction. I wish them love and farewell.
A safe haven for a hyperconnected crowd that promotes moonshot thinking, creates local impact and replaces scarcity with abundance.
We are not just for the startup. If you are part of a large and lumbering organization. Then your competition is probably churning away at WorkSocial. Joining WorkSocial will give you the opportunity to see how we are creating Billion Dollar companies by serving a billion people.
WorkSocial is a playground for exponential entrepreneur. We our members clearly see that there is the need to get away from the app titled world. We believe that 3 years to profit and 4 years to exit is the norm. Do you? If yes, What are you waiting for call us and Join the Movement.
It’s time to say goodbye to idea-killing cubicles and stuffy traditional office spaces. Due to the advent of co-working spaces, these stale environments are becoming a thing of the past.
A new player in town has arrived. Co-working spaces are the new alternative to the old office that nobody likes commuting to every day.
Gone are the harsh “Office Space”-like fluorescent lighting and stale lunchrooms. These new spaces feature hammocks and beanbag chairs instead.
They allow small businesses to share space with other small businesses at a fraction of the cost of traditional offices, and also infuse youth and life into the boring constructs of the past.
You and everyone who works for you can benefit from the unique aspects of modern co-working spaces. Let’s look at the 7 top benefits of taking your business into one of these shared spaces.
It’s a decision you won’t regret.
A great co-working space promotes a social atmosphere.
Typically, you’ll be working with and around people and companies specializing in a wide array of fields. Because of this, you’ll have constant access to other talented professionals who could potentially benefit your business in some way.
Within this network, you’ll have the ability to collaborate and expand opportunities.
This just isn’t the case with traditional office settings or working from home.
Within co-working spaces, you’ll get to know dynamic people who are just as driven as you. Just don’t be afraid to get to know them!
A shared space may declare general administrative hours of 8-5, or something similar. However, it’s not like you’re required to be in the office for the entirety of those times.
In a co-working space, you can come and go as you please. You’ll have total freedom.
Want to show up at noon and start your day then? No problem. Do what’s most convenient for you.
In some cases, you may require special access keys or permissions. But you’ll know all this up-front before you start renting.
Co-working spaces make it easy for you to work within whatever schedule you choose. You also have a much higher mobility level in a shared office space.
Don’t want to commit to an entire year of a traditional office space? A co-working space is the way to go.
In most cases, rental plans are month-to-month. This makes it easier for you to work into your budget without committing long-term.
If you’re a small company or working as a freelancer or entrepreneur, a co-working space can’t be beat.
The second you step in, you’ll be surrounded by like-minded professionals who can inspire and motivate you. They also have skills and resources you might not be connected to.
In addition, you don’t need to work alone anymore. Most freelancers miss the social aspect of working around other people. This solves that problem.
When you work in a high-energy shared space, you won’t feel so isolated. If you have days where you need a secluded place to work, book one of the private rooms available.
You’ll be able to focus in peace until the job’s done.
In a shared workspace, you won’t need to deal with minute details of running your office. Essentials like printers, projectors, scanners, monitors, cleaning supplies and even coffee are included when you join.
You also won’t need administrative staff. Typically there’s a talented administrative assistant there to man the front desk.
You might think that a co-working space is loud and distracting. Maybe you won’t be able to focus on work.
In reality, the opposite is true.
When you look around the office, you’ll see other high-level professionals hard at work, focused on getting things done. This is very motivating to most people.
As a result, your productivity will go through the roof. Watching other people’s productivity will motivate you to keep hard at work for the duration of your day.
When you feel a part of something bigger than you, it drives you to new levels.
The best co-working spaces promote a feeling of belonging and community among members.
You’ll have ample opportunity to network and mingle in group events and meetings. You’ll discover clubs to join and events that you wouldn’t have access to while working alone or from home.
It’s great to feel like a part of a team, even if the team isn’t directly involved with your company or venture.
Activities like BBQ’s, meet and greets and after-hour happy hours are a great way to meet new people and make new connections.
Not to mention, sometimes it’s great to just kick back and enjoy great company.
Nobody wants to be stuck in a strip mall office somewhere outside the city. Those don’t promote much in the way of creativity.
Co-working spaces, although a relatively new concept, are quickly taking hold because of their fun, dynamic nature and great locations.
As the trend progresses, old office spaces are going to become a thing of the past. After all, who wouldn’t rather work in a fun, progressive environment in the heart of the city?
They’re so cost-effective that it hardly makes sense to rent traditional offices anymore.
There are few environments that can offer such a unique ability to bring like-minded people together to learn and collaborate with each other.
They’re popping up all over urban areas where demand for office space is high.
As an entrepreneur, freelancer or small business, it’s time leave the home office or traditional office in the dust. Once you enter a co-working space you’ll know immediately what you’ve been missing out on.
WorkSocial offers the premier co-working spaces in the heart of Jersey City. You really need to experience them for yourself to see what we’re talking about.
With all the benefits of co-working, it’s almost a no-brainer to transition your office into one.
If you’re in the Jersey City area and find this idea as exciting as we do, reach out to us today and let’s talk.
It might be the best professional move you’ve made in years.
See you soon!