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CoWorking is More than Shared Office Space

Adapted from: Success magazine; Larry Keller

Community, collaboration and productivity all have one thing in common: They are all benefits of the new coworking  movement.

 

Coworking sites, which first appeared in the United States in 2006, are collegial, shared open-plan areas and private office areas where people work independently but communally. Members are varied in what they do and why they join. They include entrepreneurs, freelancers and other independents weary of working from a coffee shop or home, and those in search of a social network.

The spaces and amenities vary, but typically include free Wi-Fi and coffee, as well as a copier, whiteboards and conference rooms. Membership plans usually are based on usage—from one day a month to five days a week—and whether one wants a dedicated or communal desk or table at which to work. Some sites discourage telephone conversations; others have few or no restrictions. Some don’t mind if you drop in unannounced for a look, but others prefer appointments. A few have even provided day care. 

Coworking is a growing trend. Worldwide, there were more than 100,000 people working at more than 3,000 co-working spaces last fall, including 937 spaces in the United States.

To find the nearest coworking office near you, visit the coworking wiki directory—which is maintained by the community of coworkers worldwide.

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.”

5 Cost-Saving Benefits of Coworking

Running a business costs money, but there’s an easy way to reduce costs: coworking.

Coworking is an ideal solution for entrepreneurs, startups, small businesses, and growing companies that want to save on overhead costs.

Renting or owning your own dedicated office space involves a massive investment of time, money, and resources. Costs may include:

  • Furniture and Decorations: This not only includes individual offices but conference rooms and public entryways.
  • Electricity: Electricity costs are not getting cheaper, and in the summertime can spike with air conditioning usage.
  • Internet: High-speed Internet service can run on a yearly average of $3,000 for a small business.
  • Network Manager: You will need a technical expert, either on staff or via contract, to manage and maintain your internal networks.
  • Janitor: You’ll need someone to clean up the offices, take out the trash, and keep the kitchen from growing mold and attracting roaches.
  • Security and Access: Especially if you have expensive equipment left on-site, you will need security technology and protocols in place for your workers.
  • Insurance: These costs can vary but can be prohibitively expensive if your office is in a flood zone or other area that is vulnerable.
  • Office Manager: Don’t forget the recurring costs of a manager to make all this work.

Managing your own office space simply costs money, and those costs can add up over time. In addition to the financial savings, coworking provides many additional benefits such as business networking and access to resources.

5 Great Financial Benefits of Coworking for the Small Business

With coworking, you not only save money, you can also join a vibrant community of other entrepreneurs and small businesses, increasing your exposure to leads and potential business partners. Of course, the bottom line comes first. Here are some of the cost benefits:

1. Coworking can be 60% to 75% cheaper if you have less than 30 people in your team.

This is where the numbers show that coworking is especially beneficial for smaller businesses. Why spend money on renovating an office space that you’ll just be renting out for a few years?

2. Approximately 35% to 55% of your workforce do not need their own workspace.

Many of your workers do not need their own offices to get their work completed. Many of today’s tech workers can easily complete projects sitting at a cramped table in the middle of a noisy Starbucks. Coworking gives your workers the camaraderie of a social working environment that provides the right balance of productivity and personal interaction.

3. Conference rooms can cost on average $75,000 over 5 years.

Conference rooms are critical components of office space, not just for internal meetings but for presentations and meetings with clients and potential customers.

4. The estimated cost to maintain common areas and pantries is $200 per person each month.

Maintaining an on-site kitchen is not only costly, it’s usually messy. You won’t have to bother with the dirty coffee cups, dishwasher maintenance, or refrigerator repairs with coworking. (That said, your employees should still clean up after themselves in a coworking kitchen!)

5. You can gain greater tax benefits with coworking.

You actually don’t get as much of a tax benefit with your own office space as you might think. After commercial standard loss ratios and common space, the technology and meeting space allowance is at 3,000 sq. ft., which in effect gives you 1,400 to 1,500 in working space. The true loss in self-managed space is between 40% to 50%.

Save Money Today by Choosing Coworking

As you can see, there are many cost-saving benefits of coworking. If you move to a coworking space, your occupancy costs drop by 70% or even more. Call us at WorkSocial to find out how.

How to Make Your Employees Happy at Work | One Sure Shot Method by WorkSocial

Want to make employees happy at work?

People love coworking and now, you can have offices leverage these benefits. One sure shot method to promote happiness is to convert your office into a WorkSocial coworking space.

Why WorkSocial | CoWorking is the way in the free agent nation?

  1. Whether you’ve hired a freelancer for a contractual project or a remote employee to requires an office space, coworking facilities allow employees to connect with other independent workers in a community-oriented space. On-site employees have the benefit of an in-person collaboration, but it’s difficult for remote employees to have similar experiences. With coworking, your remote talent can experience the same type of connections, which can inspire innovation even in a remote setting.
  2. Not Just Millennials prefer these collaborative and open environments Coworking spaces are specially designed to provide open seating, collaboration areas and less stifling settings than your traditional cubicle-based office. Not just Millennials, who make up more than 30 percent of the American workforce today, prefer these types of work arrangements because they lead to better problem-solving, more rapid collaboration and community development.  Even open minded Entrepreneurs leading the Millennials thrive in open, collaborative and coworking spaces.
  3. Bring greater autonomy and productivityResearch shows that coworking can provide emotional benefits as well. In a recent study on coworking, 84 percent of respondents said they were more engaged and motivated when co-working and 89 percent reported they were happier compared to remote employees who worked from home or another isolated location.
  4. How to Create a CoWorking Atmosphere in Your Office

While coworking spaces provide these unique benefits, there are many ways companies can recreate these same benefits within their own workplaces.

  • Flexible work options: Flexible work arrangements — whether that’s in the form of flexible hours or locations — increase productivity and output while reducing turnover.
  • Open workspaces: Rather than sticking to the cubicle environment, businesses can provide spaces like coworking environments with open seating for meetings and collaboration areas.
  • Technology to encourage collaboration: Companies can also ensure the business is equipped with the right technology to foster collaboration with virtual employees with tools like video conferencing and live chat.

By using coworking spaces as inspiration to drive productivity and collaboration, you can set up your business to reap similar benefits throughout your workforce.

 

Contact WorkSocial to see how we can help you connect, create and grow.

 

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  4. open seating
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Essential’s for CoWorking Spaces

CoWorking spaces not only work for lawyers they are a critical for a law practice’s success. Lets take the example of James Practice [name changed].  Jame is is a member of  WorkSocial and other shared office spaces.

sjr_0707-hdrBefore joining WorkSocial James worked from home. A home office was probably the cheapest option for a solo practitioner. Until one day James landed a client that was buying real estate like candy.
Nothing blows your image than a barking pet at a closing. And if the thought of seeing only your family and the person delivering your takeout food sounds isolating, you might want to reconsider if you want your clients in your “business.”

After a crazy a embarrassing event, James joined WorkSocial. Ever since his business tripled, his profitability sky rocked and productivity increased.

Here is why

James went to work everyday

Working from home meant that James had flexibility about when to start. Sometimes, the flexibility turned to procrastination. Since moving to a space James “got very organized.” One day the client service team at WorkSocial needed a contract reviewed. “I did it for free. They gave me a month off.” He never looked back. Now he works with WorkSocial all the time.

Inflow of clients

Instantly grew my business, the “10 WorkSocial members became my clients.” James had assumed that Coworking spaces usually have an open layout. WorkSocial had private offices, conference rooms and open spaces. They had other spaces with open areas and I used all of it as needed.

Amenities

A large part of what his law practice was printing, collating, filing and meeting preparation. Everyday James needed to make a choice. “Grow the business, sell my services, print my documents and talk to clients.” WorkSocial had an admin, Ally, on site, and, James tried to make a deal with her for work. “No James its my pleasure and its included” converted James to a fan.

Here is what WorkSocial Offers:

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  • Free Printing
  • Free Internet
  • Free 24 x 7 Access in a high security building
  • Free Coffee, tea, snacks and more
  • Discounts with airlines, car rental and more
  • Conference call facility
  • Video conference
  • Awesome views

Fun stuff designed for productivity

Work requires discipline. WorkSocial follows the principles of the corporate athlete. Frequent visits from local practitioners offering yoga, stretching, meditation and massages had a great impact on my productivity.

MileStone Funding

With a little extra time and energy James decided to grow his business. He wanted to develop a website. WorkSocial, funded the development with a $5,000 loan to develop a website. One of the community members did the work . Someone else did the SEO and now marketing is in full swing. With 5 real estate closings a week and 20 clients from WorkSocial, James has rented private offices and hired an associate.

Guess what, James still rents space at WorkSocial and has weekly office hours. Flexibility at a shared office space has advantages.

Full disclosure: WorkSocial | A happiness company is a company where I have a vested interest. The thoughts here in represent my opinions are not inserted to drive sales. My life is not a call for action instead it is a cause for action.

© 2018 worksocial. All rights reserved.
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