A Manhattan shared office space or working environment might be referred to as coworking, a communal meeting place or temporary office space. The concept is more or less the same. Startups involve entrepreneurs who are newcomers in the arena but do not possess the required resources to rent a separate location.
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Several established companies allow startups to share their office space or conference rooms on an as-needed basis. With the continuous evolution of the corporate world, established companies are supporting self-starters and entrepreneurs with a vision and potentially success-driven initiatives by providing them with communal office space. Similar to a college dorm environment, coworking spaces are garnering huge support for many practical and financial reasons.
To find out if a coworking space is the best option for your startup, analyze its pros and cons. Here’s what we think.
You get to work with similar minds
In a shared office space, you are more likely to find like-minded individuals who are team players. A coworking office space allows more opportunities for teamwork and can build on the experiences of all colleagues, which in turn provides fresh initiatives and insights needed to take on particular challenges. Young entrepreneurs also get opportunities to learn from the best.
You make long-lasting and personal connections
Sharing an office space with colleagues, other startups or established companies often results in startups making connections with potential clients and business associates. You get a chance to hand out your business cards and let them know about your ideas and future initiatives. People who work alongside you get a chance to see your work ethic and problem-solving capability every day, and are more likely to recommend or help you out in the future.
Working solo can be a distraction
As silly as it may sound, working alone can be a distraction, especially in the freelance and telecommuting realm. Being surrounded with people of a similar work background and age induces productivity and promotes work ethic in various circumstances. Working alone for long hours can often lead to fatigue and boredom, which can decrease productivity levels.
You're joining a community
A coworking office space is less expensive than a traditional office. It is also a means of forming a community of creative and tactful entrepreneurs who are facing similar challenges. A network of like-minded individuals like this can be beneficial for any startup.
You get support for technical challenges
It is always nice to have a team who is up for taking on technical challenges and swapping insights. For example, if you’re sharing office space with a tech startup, you will be able to deal with various problems without having to spend any extra money.
Sharing values and money
If you’re sharing space with a partner company or startup, then work together on policies that are similar to both companies. You will have to make it work so that your team can pair up with the partner company and attain mutual benefits.
It is not always about sharing money and space. Sometimes, you must share values and compromise to gain maximum advantages for both your own team and your partners’ in sharing office space.
Distractions from work
Although sharing office space saves you from boredom and keeps you upbeat, coworking areas are also an easy way to procrastinate and get distracted. This usually leads to unproductive employees and wasted time thanks to the inability to focus on work due to continuous noise.
Coworking spaces are suitable for collaborative work like meetings and brainstorming sessions, but may not be a good idea for work that requires focusing attention such as coding and writing.
Hard to distinguish work culture
The biggest drawback of sharing workspace with other businesses is that different work cultures get mixed up. Your personal work ethics may be vastly different from those of your neighbors. Such an environment may make it difficult for coworkers to participate in work activities wholeheartedly.
Your competitor may be right behind you
What if you are sharing office space with a team that is your competitor? It's easy to understand that things may take an uncomfortably intense turn. You’ll have more people to be wary of and this can cause many distractions and delay in scheduled work.
While coworking is a cheaper option for startups, it can also be expensive for fresh entrepreneurs who are just starting out. Most coworking spaces offer month to month leases with no long-term commitment but it's still more expensive than your kitchen.
You are not comfortable with your roommates
You would often want to compare your coworking space to the college dorm you once shared with a pesky roommate who just won’t move out. People you share collective space with will eventually start getting on your nerves; especially if they refuse to abide by simple rules.
The owners end up butting heads while employees get involved in office politics. While adults should learn to co-exist in peace, this problem sometimes becomes a factor you have no control over.
ABOUT Audrey Throne
Audrey Throne is a mother and a professional blogger by choice. She has completed her masters in English literature from university of Birmingham. As a blogger she wrote quite a few posts on health, technology as well as management. Currently, she is associate with Minter-app.
Find her on Twitter: @audrey_throne
The Farm SoHo
The Farm SoHo will wow you and your guests with its rustic charm and inviting environment. New York City's most engaged community of startup teams, developers, remote workers, freelancers, and entrepreneurs. They have converged to share ideas, innovate and learn in a collaborative and nurturing environment. Their story began in Missouri where they found a gorgeous barn that needed a second chance. They dismantled the barn and brought it to NYC and rebuilt in in their loft in SoHo.