With more and more people all over the world signing up for a coworking space, those who haven’t yet taken the plunge have been left wondering whether or not they’re missing out. Is working at a coworking space as good an idea as so many people say it is?
Read on as Circle Hub discusses how a coworking space could potentially benefit you.
What is a Coworking Space?
A coworking space is essentially a workspace that’s shared by a variety of professional individuals. Some may be freelancers, others may be hybrid remote workers, and some may be employees at established companies.
Either way, a coworking space gives people a professional environment to work from, saving them from having to trek across a city each day to company headquarters or hiring out an office space of their own.
It’s a working model that offers up some undeniable benefits. Let’s take a closer look at some of the main advantages that you’ll experience after joining a coworking space:
Coworking is Usually Very Cost-Effective
Business is all about turning a healthy profit. In order to do this, costs need to be kept as low as possible. While running your business from home may be an option to start with, this isn’t a suitable long-term game plan. Once your business starts to grow, you’ll need a professional base. For those who end up leasing a private office space of their own, all of the costs and long-term leases associated with that can sometimes be their downfall. For others, the cost of a private office may make this option a no-go from the start.
Choosing a coworking space as your base enables you to get around this problem. Rather than having to pay extortionate rent prices, all you’ll need to fork over for is your monthly coworking membership, which will more than likely be much more affordable. This will then grant you access to those shared workspaces whenever you need them. You could either treat your coworking space like a regular office and turn up daily from 9-5 or you could use it just a few times a week. Either way, it ends up being a much more cost-effective option for both large and small businesses.
The cost-effective nature of coworking becomes even more appealing when you think of all you’ll save on other overheads. Electricity, WiFi, cleaning services…all of this will be taken care of by your coworking space, saving you time as well as money.
A Coworking Space Opens Up Big Networking Opportunities
Many experts would agree that networking, or the lack of it, can make or break a business. After all, networking enables you to make new business connections that could, in the future, turn into either new clients or new hires. It will also expose you to different perspectives on your business while giving you the opportunity to access insider information.
For many, this is one of the biggest draws of working at a coworking space. The ability to network casually on a daily basis, rather than having to attend a stuffy formal networking event once a month, can be a game-changer.
Some coworking spaces encourage this even further. At Circle Hub, for example, we host regular events for our members to attend free of charge. Again, these are all informal get-togethers where you can meet the other professionals at our coworking space in a relaxed environment. With that said, it would be a good idea to keep some business cards to hand to make it easier to connect with those who you want to build a professional relationship with.
A Coworking Space Could Boost Your Productivity and Creativity
If productivity is something that you struggle with, your business will end up suffering as a result. In order to succeed, your productivity levels need to be at a steady high. The good news is that this is something else that a coworking space can help with, in a few different ways.
For starters, unlike traditional office spaces, coworking spaces are designed to stimulate productivity as much as possible. They’re bright, spacious, and set to the perfect temperature. No claustrophobic cubicles in sight! Plenty of natural light combined with greenery leaves people feeling at ease and at their best, enabling them to work to their full potential.
The overall vibe at a good coworking space is also very conducive to productivity. At a traditional office, some of the people around you will likely be trying to get away with doing as little as possible. Work from home and you won’t have any professionals near you at all. However, at a coworking space, you’ll be surrounded by other hard-working professionals, each one fully focused on the tasks that they’re completing. This in itself is a huge motivator. That vibe will rub off on you, and you’ll soon find yourself sharing the same mindset.
Coworking Spaces Are All About Community
Often, at a traditional office space, people have no choice but to interact on a daily basis with those who sit next to them, even if they really dislike them! This can make work feel like even more of a chore. Being forced to spend time with the same people, day in and day out, means that there’s no genuine sense of community.
At a coworking space, things are completely different. For starters, meet someone who you don’t like and you won’t need to sit next to them ever again – simply pick a desk that’s nowhere near them if you happen to be in at the same time! With that said, there’s a good chance that you’ll get on well with the majority of the people you’ll meet at your coworking space. Everyone may come from different backgrounds and industries but they’re all there for the same reason – to push themselves in a professional capacity.
The sense of community that you’ll experience at a coworking space will also help to combat the loneliness that’s commonly felt by modern-day professionals. Many jobs can feel quite insular but being able to take some downtime and chat with other like-minded people will keep you feeling connected.
Work/Life Balance Often Improves at a Coworking Space
If you currently work from home, then you’ll know how difficult it can sometimes be to achieve a work/life balance. It’s so easy for boundaries to blur, with your work life spilling into your time off, and vice versa.
This may not initially seem like a big deal but, over time, it can be severely damaging to your mental health. Research shows that a poor work/life balance can lead to chronic stress and burnout. This will not only affect your work life, but your home life too.
Make the move to a coworking space and this will immediately change. Simply having to leave the house to go to work will enable you to better establish boundaries. You’ll be adding structure to your day, clearly differentiating between your time at work and your downtime.
Even better, you’ll be able to do this without having to subject yourself to a long and frustrating commute. With coworking spaces becoming more popular than ever, you’ll find them just about everywhere. If you’re in California, you may find yourself lucky enough to be situated near one of Circle Hub’s locations. We have one in Northridge and another in Ventura, with both being very convenient to access.
A Coworking Space Will Give You a More Professional Image
One thing that many freelancers and startups struggle with is establishing a professional image/reputation. Many often begin their careers by working from home or from an affordable but dingy office space, neither of which showcases you in a very professional light.
Joining a coworking space completely changes this. Simply associating yourself with a reputable coworking space will immediately make you seem more credible. You’ll also have somewhere more professional than your local coffee shop to hold meetings or Zoom calls. At Circle Hub, you have the option of hiring a private office suite or a conference room whenever you need it. They’re decked out with all of the amenities that you could need. This will make it much easier for you to impress new clients!
Even if meetings and video calls aren’t a common occurrence for you, find yourself a coworking space that offers a virtual office service and you’ll still be able to bump up your credibility. For example, at Circle Hub, our virtual office service enables you to use our prestigious Californian street address as your business mailing address. Not only will this allow you to avoid any of the security concerns that come from having your home address splashed across your website and business card, but it will give potential clients/customers a much better perception of your business.
Are There Any Downsides to Working at a Coworking Space?
Of course, in order to decide whether or not it would be a good idea for you to work at a coworking space, you need to consider any downsides too. Fortunately, there aren’t too many…
The main one would be the potential lack of privacy. Sharing a workspace with strangers makes it difficult to work on confidential projects. However, a coworking space that offers private office suites for members to use, just like Circle Hub does, means that you can get around this. Simply book an office for when you have something private to work on. You can then return to the shared workspace once you’re done.
Distractions can also sometimes be a problem at coworking spaces. People coming and going, receiving phone calls, chatting loudly to each other…all of this makes it difficult to get anything done! The key to avoiding this is to find a coworking space that has a community manager who takes their job seriously. At Circle Hub, our community manager will be on hand to make sure that everyone is being respectful and following guidelines. Distractions are kept to a minimum so that all of our members can work to their full potential.
The Bottom Line
When it comes down to it, for most people, working at a coworking space is a very good idea. However, the only way to know for sure is to take the plunge and give it a try. With monthly contracts that require no commitment, sign up for a coworking space for a couple of months and see how it works for you! Chances are that you won’t want to leave.
Interested in finding out more about Circle Hub’s coworking spaces? Click here to book a tour today!