The way the world works is changing on a daily basis. One of the newest trends is coworking or shared working space.
Over the past decade, shared workspaces have become quite popular, especially in urban areas where office space is at a premium. Densely populated cities such as San Francisco are home to workspaces such as SOMAcentral that has been home to many infamous startups from AngelList to Instagram. Shared workspaces are the 21st-century solution to the leftover workspace ideas of the 20th century.
Today, it is estimated that over 1.2 million people around the world are using shared workspaces to advance their businesses. But what is a shared workspace and how does it work for you?
What is a Shared Workspace?
Arguably the best description of a shared workspace is to take the traditional office concept and dividing it up among many different small business owners. You share an office space with far more people who might be running their own businesses or working for a larger company that does not have space for them to work at their facility.
A shared workspace is desired when working from home does not provide sufficient support for various reasons. Plus, it offers the advantages of being in an office, but less expensive since it is being shared with others. The downside is that you are sharing the workspace, so that it may be a little noisy or distracting but compared to the distractions found at home or the expense of renting a full-size office, the disadvantages are fairly small.
Advantages of Shared Workspace
There are numerous benefits for those who want to work in a shared workspace, starting with the actual feeling that you are at work. One of the downsides of working from home is that distractions are all around. Many have found it quite easy to take more time to get things done because all the comforts of home are so close. That is not true of a shared workspace since you are there to work.
Marketing and Networking: One big advantage for many small business owners is that being in a shared workspace means you can communicate with other business owners who rent the same space. You can promote your business using simple means, such as sharing office items like pens, pads, and the like with your business name stamped on them.
A shared workspace is a great place to meet fellow business owners who may have an interest in working or purchasing from you. For those who want to network and get to know others in your field or related fields, this may be the perfect opportunity.
Separates Work from Home: By keeping home and work separate, you can get the most out of your time with both. Plus, depending on the nature of your work, you may find a shared workspace to be far more advantageous. You can even meet with clients from the office which creates a professional appearance for what you do.
Overflow: For larger businesses with their own offices, renting out a shared workspace is perfect for those from your staff who do not have enough room to work from your property. It adds space while not having to remodel or move your offices. Plus, it can be used for temporary increases in your staff, such as hiring new personnel for a specific project.
Rent Meeting Rooms: For those who do work from home, meeting with clients may be problematic. Many shared workspaces also offer meeting rooms for rent. This means that you can have a professional meeting space ready and available for your needs when clients come to town. It creates a positive impression of your business, even if you work from home.
Training & Special Projects Space: If you run a larger business, but do not have sufficient room for training or working on special projects, then a shared workspace may be the answer. It provides a separate space for training on new programs or working on short-term projects that is free from distractions. For many business owners, this type of shared workspace offers the perfect alternative to renting a larger facility or having to make room inside an already crowded office for your needs.
For those who do not have the budget to rent a full-size office and find working from home too limiting, a shared workspace may be the answer. It provides all the advantages of working from an office while being less expensive. Plus, it offers ways to market and network with fellow business owners so you can expand your customer and client base.