Starting and running a business can be a challenging and lonely experience. Given the stress that comes with high overheads and increasing start-up cost, many solo entrepreneurs and small business owners choose to work from home, coffee shops and fast food out
lets to cut down on cost. Whilst this might be a great cost cutting option- it is in no way the best option for a budding business; which requires somewhere to put down roots, bud and grow!
The need for freedom yet surrounded by a community, whilst cutting down cost, has brought about the innovative and creative use of office workspace; a new perception termed Co-working. Co-working spaces have especially been priceless to entrepreneurs, who have learned how to use the concept of co-working to help their small businesses grow.
Here are five ways small business owners could explore co-working opportunities for their benefit:
- Networking Opportunities
Leads are everything when it comes to growing a start-up. And in a co-working space, members get to know one another in a formal yet friendly environment. Once rapport begins to build, members naturally become each other’s brand ambassadors, spreading the word about one another’s businesses to new clientele. In a short amount of time, members begin to impulsively take care of their own, and if it takes a lot of support to keep a small business running, a co-working space is a phenomenal place for one to take root.
- Support Services
Small companies want to stay lean and profitable, so they, too, are looking for opportunities to keep lean and efficient. At a co-working space, most essential needs are met without having to lift a finger. In addition to the basics — utilities, facilities, hot coffee and strong Wi-Fi — most co-working spaces offer printing and mailing services, and other perks. Co-working custodians generally act as cruise directors, taking care of little details that could otherwise eat up a business owner’s morning. There’s no need to spend half a day dealing with a dreadful administrative situation or fixing the office printer; it’s already taken care of, leaving small business owners to focus on more important things, like ensuring their mission for setting up in the first place is accomplished!
- Collaboration
Collaboration in the workplace has long been cited as a sign of highly effective, and functioning team. Workspace surveys have shown that the level of collaboration directly impacts the outcome of a task or project. One of the most inspiring things about being a start-up, especially in a co-working environment, is the comradeship between new businesses. Whether you’re looking for opinion on an idea, advertising through social media, or word-of-mouth recommendations like the ones mentioned above, most new business owners are willing to cooperate with each other in return for compensation in kind.
- Flexibility
Co-working spaces are normally handy 24/7. Small business owners can decide whether to put in a long day when they have a deadline or want to show progress, or can decide to take a long break in the middle of the day to go to the movies! They can choose whether they want to work in a quiet space so they can focus, or in a more collaborative space with shared tables where interaction is encouraged.
- Cost Savings
Business operating cost gets expensive quickly, and rent isn’t cheap. For a tiny proportion of the cost of a conventional office space, small business owners and staff can enjoy a hygienic, safe, professional ambience when they report to a co-working space. Personal items won’t be stolen like they might be in a public coffee shop; parking, Wi-Fi and other services are generally included at no extra cost; there’s no pressure to buy food every day in exchange for taking up space at a fast food outlet! Small business owners will only have direct production or business cost to contend with.
Ikwo Oka
t: @ikwo_udoh
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