5 Reasons Why Co-Working Could Work For Your Business

As self-employment continues to rise so does the demand for co-working space, so what is all the fuss about and could this environment be good for you and your business?

In this post we will explore the concept of the co-working space and provide you with 5 clear reasons why you should at least consider it as an option.

1. Work Becomes Your Network

Networking is a vital part of success; the connections you make through networking provide you with untold new opportunities. What is especially powerful about networking in a co-working space is that it isn’t forced. Rather than go to a meeting and take it in turns to hand out business cards, you drink coffee together, eat lunch and simply breathe the same air. This natural and relaxed environment leads to more meaningful connections.

Isolation is a huge challenge that the self-employed have to overcome. If you choose to work from home or even in a personal office space, you are still essentially on your own. The co-working space allows you to have contact with actual human being which reduces the feeling of seclusion.

When co-working, this new incredible network around you just happens to be a group of individuals who are all very specialised in different areas. Some of the knowledge they hold could be hugely beneficial to your business and now you have consistent access to them.

2. A Financially Viable Option

If you are determined to get your business off your kitchen table and into an office then a co-working space can be a sensible cost effective option for you. If you were to hire your own office then addition facilities such as water rates and internet connection would be your responsibility to organise and pay for but in a co-working space these are part of the price.

That said, don’t be blasé about the cost and expect it to be less; as with any business decision, always do your research. With an increased demand there will always be those willing to take advantage and charge a higher price than necessary.

3. Have a Professional Space

Many self-employed people and freelancers, worry that being independent makes them appear less professional. For example, one of the major problems experienced is trying to find appropriate places to hold meetings. Many co-working spaces have conference rooms that are perfect for these situations. As long as you book them in good time, you can feel confident that you look the business in meetings!

4. Motivation and Focus

It can be hard at home to be focused on the work tasks you have to do when you can see the washing pile and hear that the dishwasher has finished. The TV is sitting there, just waiting for you to turn it on and your bed isn’t far away either. Now although, self-employed people are motivated in their very nature, being in a positive, dynamic working environment has been proven to increase motivation and focus. With this, comes a higher productivity level so the work done within a day in a co-working space has the potential to be higher in quality and quantity than that produced at home with the washing pile taunting you.

5. Create a Home/Life Balance

When you work from home, the lines become blurred. The elusive work/life balance is a constant challenge to the self-employed but when your office also doubles as your home it is difficult to distinguish between the two.

A co-working space gives you the option to ‘leave your work at the office’ and if you do bring it home occasionally it is a choice and not just part of your daily life. This means that the time you spend at home then is more focused on the people you love and these relationships are nurtured.

What many of us forget about in our businesses is the value of quality time off. When we are stressed and anxious we can’t think clearly and we lack inspiration. Creating space to relax and having the time to be more than just your business is actually beneficial for your profit margin long term.

Is Co-working Right for You?

Like any decision in your business, it has to be right for you. After all, what works for one person might not work for another. But if you are looking for motivation, connections, professionalism and a work/life balance all at a reasonable cost, then a co-working space could provide you with everything you need to support your business growth.

What does the term “coworking” mean to you? — whether you’ve tried it or not. Where’s your favourite coworking space? Let me know in the comments below.