If you have a small business, you likely followed a pattern when it comes to where you hold operations. You probably started at home, doing remote work with online correspondence with your team, until you were able to rake in enough profit to get a rental space or office.
Today, many small businesses are shifting from the traditional office rental to something more modern — co-working spaces. Co-working is projected to be huge in 2022 and beyond for various reasons. So, it’s a workplace trend you can expect to stick around.
But how does one even shift business operations to a co-working space? Isn’t that a bit difficult? What are the dos and don’ts of how to navigate a small business in a co working space like Circle Hub? We know it’s intimidating and overwhelming, but don’t worry. We’re here to guide you.
There are many reasons to run your business from a co-working space. You just have to understand how to manage and make your business thrive within that space. So today, we’ll talk about how to navigate a small business in a co working space to boost professional productivity and employee satisfaction.
Looking for a Place of Business? Try a Co-Working Space!
Anyone who starts their business at home knows that there will come a point when it’s pertinent to move the business out of the home and into an office. This may be because of higher production of goods, an increasing employee count, or even just the need to give the business a little more prestige.
One of the best places to move your small business into is the modern co-working space. In recent years, the co-working space trend has pretty much exploded, gaining traction all over the world.
Satisfaction was found to be incredibly high among those who worked in these spaces, making it even more popular. Top co-working spaces like Circle Hub offer different kinds of workspaces and unique amenities, which younger workers love. It seems to be the way forward, even for businesses.
Co-working spaces are commonly associated with remote workers and freelancers. However, it’s also an awesome place to house your small business operations. You get all the office equipment and furniture you need, all with the right amenities to boost employee happiness and productivity.
Operating in a Co-Working Space is a Good Move for Any Business
Here are just some of the reasons why learning how to navigate a small business in a co working space would be beneficial:
- It allows you to cut down on overhead costs for rent, utilities, maintenance staff, and more.
- It gives your employees a chance to work together in person. After all, being physically close to your teammates makes collaborating more effective and productive.
- There’s a clear differentiation between your home and your business location. This allows you to create boundaries as a small biz owner.
Of course, you can’t just move your business to a co-working space and hope for these benefits. You have to do your part as a responsible entrepreneur and employer as well by learning how to navigate a small business in a co working space to make sure you’re operating like a well-oiled machine.
Not sure how? Check out Circle Hub’s top tips on how to navigate a small business in a co working space:
1. Choose the Best, Most Convenient Location for Your Team and Business
When finding the perfect workspace, one of the most crucial things you need to decide on is location. You must pick an area that is convenient for you and your employees, but at the same time is central enough to give your business an image of prestige and renown.
An awesome location for any business is sunny California. It’s a bustling state thriving with lots of homegrown businesses, but it also has tons of attractions, from beaches to the trendiest restaurants and bars. It’s amazing for work-life balance!
That’s why Circle Hub has two prime locations in the heart of Los Angeles, California. The Ventura location boasts a huge event space and an on-site gym. Meanwhile, the Northridge building provides warehousing services for businesses with physical goods.
Both of our locations have access to major freeways, making your employees’ commute a breeze. We also have parking for both buildings, so you don’t need to park your car somewhere far and walk another half hour to the space.
2. Take Advantage of the Different Workspaces at Your Disposal
One of the most important lessons in learning how to navigate a small business in a co working space is knowing which workspace to take advantage of in any given situation.
At Circle Hub, you and your employees will have many workspace options, whether you want to be alone, in a private area as a team, or with a bunch of people to network with. Whatever you prefer, Circle Hub has a spot for you.
If your team wants to work on everyday tasks with a bustling community of professionals around, you can use the hot spots, aka the communal areas of the space. Your employees can work alone, but will still be within reach of each other if they need to talk or collaborate.
For more peace and quiet, you can rent out a private office suite for the team. You get up to five desks in a suite where your team can work on their tasks without the distraction of an open common area.
And if there are important meetings to be held, you can always use our conference rooms. Meetings allow your employees to brainstorm together and interact, which can lead to higher productivity. Our glass-enclosed conference rooms have a flat-screen TV, whiteboard, and all the equipment you need for a fruitful meeting.
3. Set a Routine for Your Team While Still Allowing Them Some Flexibility
Since the shared co-working space doesn’t belong only to you and your business, you need to help your employees get a semblance of structure. This is something most business owners don’t think about. However, it’s pertinent in how to navigate a small business in a co working space.
One way to give your team a bit of structure is by encouraging them to have a routine. Set a time in the morning when you all get together in a conference room to talk about the day’s agenda before breaking out and doing your own thing in hot spots. Follow it up with some coffee and lunch in the break room before getting on with the rest of the day.
However, you also need to allow your employees the flexibility that comes with working in a co-working space. For example, allow them to enjoy Circle Hub’s 24/7 access by not being too strict about when they get to clock in and out of work.
4. Give Your Business a Professional Mailing Address for Added Prestige
Co-working spaces are great as a physical office, but they also have an added virtual benefit — a professional mailing address. When you house your business in a co-working space like Circle Hub, you can opt for virtual office services that allow you to use the address as your official place of business.
That means that instead of writing down your residence as your location on your business’ calling card, you can put Los Angeles, CA. This gives off an air of prestige for your company, boosting its reputation and wowing clients. It also creates an excellent first impression when you give your business card to someone.
And it’s not just the address on paper that you get out of our virtual office service. We can also handle your mail for you. When clients or partners send parcels and papers to your professional mailing address, we hold on to them until you’re ready to pick them up.
5. Grab Those Networking Opportunities to Grow Your Business
Because you and your team will be working in such close proximity to Circle Hub’s co-working community, you might as well reap the benefits from it.
You’ll meet different types of people in the spaces, from creative freelancers to business owners you might want to partner with in the future. Encourage your team to network and make connections with people who can potentially be customers, collaborators, and even new hires for the company.
This is something you might not get to do every day. However, it’s a tip you’ll want to remember for how to navigate a small business in a co working space full of people — especially if you want to grow your team.
6. Allow Your Employees to Enjoy the Coworking Space’s Amenities
When your employees are in for work, let them have fun with Circle Hub’s amenities! Having an enjoyable workspace gives them a semblance of work-life balance. This is one of the lessons you must remember on how to navigate a small business in a co working space if you want happy, healthy, productive employees.
Circle Hub has top-tier work-related amenities, like high-speed internet and printing services, sure. But we also offer fun and unique ones, like a gaming room and even an onsite fitness center to help promote their psychological well-being in between stressful work days.
Allow your business’ employees to take advantage of these amenities, and you’ll reap the benefits of heightened productivity that translates to employee happiness and business profit.
7. Make Use of Warehouse Services for Physical Goods
If your business produces physical goods, like food or cosmetics, you need more than just a co-working space. You also need to find an industrial space to store your goods. This is yet another stressful thing to think about when trying to navigate your small business.
Luckily, Circle Hub offers a warehouse space renting service, specifically in the Northridge location. That way, you can store your products and have your employees work under the same roof.
This is a huge advantage. Instead of driving from one place to another to check on your team and your product, you can do so in just one place.
You can store your goods in our warehouse month on month without having to worry about safe and proper storage. They can stay there for as long as you need before they get shipped out to your customers!
8. Listen to Employee Feedback and Issues and Adjust Accordingly
Lastly, to navigate your small business in a co-working space well, you must listen to what your employees have to say about their experience. The hallmark of a great leader and boss is being a good listener and adjusting to the needs of the people working under you.
So, for example, if your employees complain about not finding good seats at the hot desks during peak hours, try to rent out designated desks or a private office suite for them during these times.
If they’re concerned about the distractions from the common areas during the usual 9-5 working hours, allow them to come in when there are fewer people so they can concentrate more. This is something made possible by Circle Hub’s 24/7 access to the spaces.
Listen to their woes and make the necessary adjustments, and your co-working space-based business (and its employees!) will thrive.
There are plenty of reasons why housing your small business’ operations in a co-working space is beneficial. These workspaces allow you to manage overhead costs while giving yourself and your hardworking employees the most fun and dynamic work environment you can.
Of course, it doesn’t stop at getting a modern, affordable location for your business. You also have to master how to navigate a small business in a co working space for it to truly work.
Take advantage of all the types of workspaces, use warehousing and virtual office services, and network as much as you can with other like-minded professionals in the space. These are usually just perks for anyone working in a co-working space like Circle Hub. However, for small businesses, it can mean boosting both efficiency and profit in the long run.
Interested in seeing our spaces? Contact us for a tour to help you decide if our space is right for your business!