7 Reasons Why Coworking Spaces Are Perfect for Young Entrepreneurs
Young entrepreneurs are filled with passion, and given their normal tight budgets, many work from home. After all, Bill Gates began in a garage, and Mark Zuckerberg in a dorm room.
But working from home can be a lonely lifestyle. The isolation can be escaped by moving to coffee shops, but that certainly isn’t ideal. Popular coffee shops can be too crowded, noisy or busy. The smell of the food, loud talks, as well as the irritating sounds of a coffee grinder can make it impossible to focus on work. And it’s hard to stay in a coffee shop too long.
In short, young entrepreneurs need office space in which they are surrounded by energetic work environment. Enter coworking spaces. Coworking is a great alternative because it gives opportunities to engage with other professionals and connect to the community. Having a coworking space that supports formal and informal events also adds up to the experience. As the rise of entrepreneurship and gig workers continues, it has become a great solution, especially for beginning businesses.
Regularity & Motivation
Working from home has its benefits, of course. You don’t have to get dressed and report to a physical place in order to get the workday started. No more commute too! But there are drawbacks. Psychologically, this lifestyle can promote laziness. You are in your home, where you’re most comfortable. Whenever you’re online it can be tempting to check social media, personal emails, or even complete those waiting household chores or to go on a quick call with family or friends. Working from home can encourage you to “work” without that true sense of focus.
When you’re in a coworking space and get stuck (or distracted), the nature of the space encourages you to get back on track. Everyone around is focused, bent over laptops or in discussion. When we are around other motivated and productive people, it tends to rub off. When we’re not, it’s too easy to lose enthusiasm and to allow more distractions to creep in.
On the plus side, coworking spaces, especially if you have a growing team, can mean that all team members are in the same place in one space. It also encourages networking from other companies in the space because of people’s natural habits— grabbing coffee, sitting in the lounge area, taking a lunch break. You can also always ask someone in your community for help.
Plus, the need to get dressed and transport yourself to an office gives you a totally different mindset that adds structure to your day. These activities psychologically prepare you to get into work mode.
Present a More Established Brand
Coworking spaces can present a more professional foot forward. If you need to meet with potential investors, customers, clients, or even hires, then your home office may not look as established. But having professional space for meetings, video chats, or a quick coffee and pitch session can send a better message and keep everyone on task and professional.
In a traditional office environment, people are able to socialize naturally, whether that’s through meeting in the lounge, going out to lunch together, running into each other “around the water cooler” — yes, that’s still a thing, though for coworking spaces that can be the beer tap or the coffee machine.
Ideas can be naturally exchanged, people can get to know one another, and you get to take a break from work.
In a coworking space, you’ll be able to join in on that socializing naturally. It can even benefit your business and give you a fresh perspective as you interact with fellow entrepreneurs, bounce ideas around and solve similar problems that other start-ups or founders might experience.
An entrepreneur can establish a collaborative partnership with other entrepreneurs and freelancers in a coworking environment. This relationship may well go beyond the initial stages of starting and growing a business.
As time progresses, those initial relationships may prove valuable from a business standpoint. They can help with introductions to investors and clients. They can mean collaborative and mutually beneficial partnerships.
If you deal with sensitive information or data, coworking spaces invest in cybersecurity or secure networks for the businesses in their space. They make everything possible to prevent cyber attacks and ensure the absolute safety of data transmission.
Renting permanent office space can be pricey, and something that an entrepreneur may not want to incur early on in their startup. There are deposits, first and last month's rent requirements, and, of course, that lease, usually locking an entrepreneur for at least a year.
Renting coworking space or a space using the communal coworking area, on the other hand, provides all of the benefits of having an office without the high cost. The right space will provide equipment, furniture, and many other amenities— lockers, events, coffee, etc.— relieving the entrepreneur of those costs time or stress to establish their own space.
Perfect Solution for Traveling Entrepreneurs
Many entrepreneurs, because of the nature of their business, might travel to meet clients around the city or around the country. And you can rent on a short-term basis or see if they have a day pass for when you’re in town.
A benefit of living as an entrepreneur is to work wherever you choose, especially if you want to live the digital nomad lifestyle, traveling and finding good wifi.
Coworking spaces ensure you have a go-to place to work with solid wifi, adds structure to your day, and gives you a place to meet other local entrepreneurs. Croissant’s just one way you can find a space no matter which city you’re visiting.
Coworking can open doors to some amazing spaces that can provide everything from equipment, furniture, coffee bars, and meeting rooms, More importantly, coworking spaces are designed to bring a collaborative atmosphere and the potential for highly beneficial relationships.
Diana Nadim is a writer and editor who has a Master degree in Marketing. She combines her passion for writing with her interest in research and creates thought-provoking content in various fields. Besides working as a contributor writer for TrustMyPaper and Studicus, Diana also runs her own 3to5Marketing blog. What inspires her the most in her writing is traveling and meeting new people. Follow her on Twitter.