The 7 Most Underrated Benefits of Coworking Spaces

Today's business environment is markedly different from that of previous decades. While the rise of the internet ushered in a significant paradigm shift, the way we work and the spaces in which we work have not always kept pace. Despite the shift, larger corporations remain resistant to change – some are unaware of coworking spaces. This is a field in which smaller start-ups can excel. Numerous disruptive technologies have emerged from the start-up space in recent years, demonstrating their agility, leanness, and adaptability. While changes in the corporate world can take time, they can happen quickly in the startup world. Coworking spaces are attracting startups, freelancers, and home-based entrepreneurs from all over the world for a variety of obvious and less obvious reasons. Consider some of the lesser-known but significant benefits of coworking spaces from the perspective of a small team or solo entrepreneur.

1. Distanciation Personal and Professional Lives Entrepreneurs face numerous psychological difficulties and roadblocks. When you work for yourself, it's not always easy to maintain focus and accountability. If you're already prone to procrastination and have a mountain of work to complete, but are at ease at home on the same computer you use to browse Facebook and play games, this can be a recipe for disaster. Not to mention the distractions posed by neighbours, family members, and the neighbor's barking dog... Having a separate space away from home, in this case a coworking space, can help you separate your personal and professional lives, making it easier to focus when it's time to work and easier to unplug when it's time to relax.

2. Cost containment and increased adaptability Apart from rent, office expenses can quickly accumulate. It doesn't take much to deplete your budget, from small items like coffee filters and printer toner to larger ones like desks, chairs, and a lightning-fast internet connection. While renting a coworking space by the hour for an entire month is likely to be less expensive than renting a private office, this overlooks one of coworking's most significant benefits: flexibility. You are not obligated to sign a long-term lease if you wish to travel and work from a laptop abroad for a few months or even completely pivot your business. In some cases, doing so will cost you slightly more initially but will save you a fortune in the long run. Coworking is ideal if you prefer to work from home the majority of the time but want to work remotely occasionally for a change of scenery.

3. Involvement in a Community While we've discussed the benefits of maintaining a separation between your personal and professional lives, this one will somewhat contradict that. When you're constantly on the move, particularly if you work from home, it's easy to overlook important aspects of life, such as social interaction. You must make a conscious effort to leave the house, visit friends, and simply enjoy the world beyond your computer screen. You'd be hard-pressed to find an entrepreneur who hasn't declined social opportunities in order to remain focused on their objectives. When you're in a coworking space, there's a good chance that everyone you meet shares similar interests and life goals, which makes for an excellent icebreaker and an excellent way to meet new people and become involved in the coworking community.

4. Networking Opportunities To elaborate on the preceding point, it is not simply about meeting people to drink coffee with and discuss the ups and downs of entrepreneurship. Additionally, coworking spaces are an excellent venue for networking and developing business relationships.

You'll come across individuals who excel in areas where you struggle, and vice versa. Meeting people in person, observing their work habits up close, and having them readily available are critical resources that should not be overlooked. Whether you form mutually beneficial business relationships or end up hiring / working with someone, meeting people in person, observing their work habits up close, and having them available to you are critical resources that should not be overlooked. Even if you're not the most outgoing person or are uninterested in self-promotion, your work will begin to speak for itself and people will know who to contact for assistance or advice, which benefits both parties.

5. A Professional Environment for Client Meetings When a client requests a meeting at your office as a freelancer, it can be awkward. In some cases, if your client is more traditional, he or she may be hesitant to hire someone who does not have a professional environment of their own. A coworking space provides you with an address to provide to your client as well as a meeting location that is not your home address.

6. Coworking Reduces the Cost of Upscale Locations Depending on where you live and work, there may be a clear distinction between which office space and neighbourhoods are affordable for a bootstrapped startup to lease and which are simply out of reach. If, on the other hand, you want to be closer to the hustle and bustle of a busy city, coworking may be a more affordable option. Consider it similar to a timeshare, but without the sketchy guy in a cheap suit attempting to convince you to sign away your life for some hors d'oeuvres.

Most cities have a variety of coworking spaces ranging in price from very affordable to more upscale, so take a look around and find something that works for you. What is the most enjoyable aspect? You are not obligated to stay in a single location. You can explore different parts of town and new neighbourhoods, and it's a good way to get a feel for the area before settling down more permanently.

7. Creating Diverse Perspectives Additionally, working in a coworking space exposes you to a diverse range of businesses, industries, and niches. While office buildings tend to be more isolated, coworking spaces enable you to meet and converse with a diverse range of people. Apart from the social and networking benefits discussed previously, this can be beneficial simply because it enables you to view things differently. Because so many great startups were founded to solve a problem, it makes sense that getting closer to different industries and learning about their struggles, as well as which business problems are more universal, can help you come up with new angles to attack with your own company or projects.