A startup is a gamble made on a vision. Be it technology, consumer goods, or even agriculture, a startup wagers its success on the advancements and innovations it has to offer. Its success or failure depends on how well it can nurture its vision, and keep it growing despite the pull of the status quo.
With this in mind, there’s no better environment for a startup to grow than a coworking space: a business model which turns our dated concept of office rental on its head. Coworking spaces like thecommondesk.com offer communal workplaces, private conference rooms and offices for businesses which can’t do without the closed doors, as well as amenities and events to add even more layers of dynamism onto their innovative concept.
Here are three reasons why any startup would be doing itself a favor by investing in coworking.
1. Coworking Blends Focus with Fun
Startups are generally perceived as risky. A bold new business, possibly with untested prowess has to contend with the looming fear of setbacks and failure while insulating their employees from that fear. And since there’s apparently some weight to the old assumption that startup ventures are borne on the shoulders of younger employees, startups face the dilemma of growing a culture which appeals to its employees’ diligence and their morale.
Coworking spaces make it easier for a startup to do both. In terms of productivity, coworking spaces are known for collecting very competent, very busy people in a single space – a fact which encourages tenants both old and new to match a decent pace of task resolution which runs constant over the course of a given workday. There’s downtime, of course, but when the coworking space is at work, you can expect high levels of productivity fit for a business on its way to launch or expansion.
But on the subject of downtime, coworking spaces tend to excel at providing its tenants with ample time for R&R. Common Desk, for instance, has a wide variety of amenities across its locations, such as frequent happy hour mixers, in-house gyms, and even cocktail mixing classes for tenants. What results is a work environment which encourages its residents to remember the importance of living dynamic and meaningful lives – a value imbued into the best startups.
2. Coworking Attracts Talent
There are plenty of reasons why coworking attracts freelancers and wins the loyalty of individual employees. They’re innovative, novel, and as the previous point discussed, these are perfect for balancing hard work with enjoyment. Moreover, coworking spaces offer many opportunities for young professionals to network with their peers and establish a name for themselves within the local and wider business communities.
Startups based in coworking spaces have the unique benefit of being enticing job prospects, partially on the basis of their business address alone. The amenities and features open to tenants are potent selling points for talented young entries into the job market, so startups looking to fill their corporate structure are given an immediate advantage over competing firms.
3. Self-Evaluation is Easier in Coworking Spaces
At the beginning of this article, the idea of a startup’s unique vision was raised. The primary measure of a new company’s success, this vision has to be nurtured and minded carefully lest the business lose its overall direction. This is precisely why the varied clientele enjoyed by coworking spaces is great for ensuring that a startup stays on-track.
Meaningful self-evaluation is a critical but underappreciated process and one which is made much easier and more effective by a coworking environment. The different encounters with related or unrelated businesses offer startups a glimpse into the cultures and values of their contemporaries, and, by extension, a baseline for examining their own.
While coworking spaces are a good investment for established businesses and freelancers alike, none stands to gain more from what they can offer than startups. The job of raising a business from nothing doesn’t need to be as difficult as what many companies experience; sometimes a clearer shot at success is as simple as choosing the right real estate.
What is your experience with coworking spaces?
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