Coworking Space – Startups and Solopreneurs perspective
Most of us have grown up with inspiring stories of successful tech giants who had such humble beginnings. From apartments & garages THEN to coworking spaces NOW, startupreneurs have seen it all.
Though “coworking” is an age old concept, the coworking spaces have seen a dramatic transformation only since 2005. Since then the coworking landscapes have grown at rocket pace, the dynamic industry has changed lives and has broadened the thinking of many millennials. Coworking spaces- once a space for startup strugglers, now a cool trend for the professional masses. Big tech players like Instagram, Spotify, Uber, Hootsuite are few humble beginners and trend setters in coworking space.
So, Coworking space sensible for Startups?
Lets see this in 2 perspectives
Numbers speaking :
Coworking Space is the 3 dimensional space where one Coworks, Collaborates and Creates! The 3cs Are the pillars for a successful startup venture, so going by the mere definition, a coworking space does make sense for a startup!
Startups are gaining more popularity than ever, India is becoming the entrepreneurial friendly nation and is next in line after US & UK for large number of startups. As per the NASSCOM 2018 report, 1200 new startups have been added to the Indian startup ecosystem and 7200-7700 startups have been incepted between 2013-2018. (source: NASSCOM.in)
According to a report from Confederation of Indian Industry (CII), India is the second largest freelancer workforce in the world and potential market size for freelancers & startups is 1.54 million and 0.1 million respectively. The three top cities dominating the coworking culture are Bombay, Delhi NCR and Bangalore, with close to 22% market demand for startups & freelancers in Bangalore and 10% market demand pan India. (Source: ciiblog.in)
Drivers & Benefits:
The key drivers for of coworking space in India are Cost, Connectivity, Infrastructure and Networking opportunities. A report by CII, WeWork and JLL indicates that a Coworking space in the top tier cities i.e., Mumbai, Delhi NCR, Bangalore, Chennai and Pune can “likely lead to a cost saving of 20-25% compared to leasing a traditional office space.”
Beautifully designed office spaces with maximum utility, modern tech frills such as high speed wifi, on demand IT solutions, office management and round the clock support staff are the basic office space needs taken care by the coworking spaces. The cherry on the cake is that along with the continual support, coworking spaces offer exhaustive collaboration and networking opportunities. Isn’t this a great deal?!
Coworking spaces offer more than just frills:
Coworking spaces are more than just an office space with sassy furniture, high speed internet, attractive ambiance, loaded cafes etc. Coworking space build relationships, brings like minded people together, help in knowledge sharing and so much more. Below are the less attractive yet long lasting benefits of coworking spaces for a startup:
Collaboration & Productivity :
If you are a startup or a freelancer, working from a coworking space will scale up your creativity. Interaction and collaboration is vital for creativity. Cocooning is not going to scale your business success. There is a famous quote “there is no competition in business, only collaboration” and shared working spaces vouch for maximum collaboration.
The environment you work is directly proportional to your productivity. Dull and introvertish office space can be detrimental to the employee’s productivity and in turn affect the business at large. However, Coworking spaces are designed to offer a conducive and a productive environment. A global research indicated 74% coworkers are more productive after working in a coworking space. Ever wondered why productivity is more in a coworking space? The answer is Flexibility!
Flexibility in time, in choosing the place of work and choosing the modality of work. Coworking mindset instils less of “me/mine” and more of “we”.
The beginning is always tough and in the tough times one can seek great support from aspiring teams, freelancers and other established companies in the coworking space. Typically the flexibility in pricing of desk space enables freelancers rent hot desks, desks per hour/day/week. Thereby, you would find freelancers flocking such work spaces.
If you are a startup and choose coworking space, you can build your company with low capital investment by hiring freelancers in services such as web design, online marketing, accounts etc. The beauty of Coworking concept is, it brings businesses & professionals of different strata on one platform, to ideate, create and innovate.
Coworking not only enable professional collaboration but some employees end up finding friends for life and few find their co founders for a new venture too.
The power of coworking can do wonders, explore exhaustive selection of amazing and validated coworking spaces pan India through Spacealize, an innovative coworking space aggregator.
Expand your social network:
Do you wait for weekends to meet a bunch of friends and spend hours catching up on the world and release your stress built up during the week? How about having this pleasurable interactions on a daily basis? Yes you read it right, coworking spaces makes this a possibility. You never know when a conversation over a cup of coffee can give you a brilliant business idea or bring in a potential client.
Co-working is attractive for millennials because it convenes meeting of like minded people and enables exchange of ideas. Coworking space owners often organise events where professionals of the workspace are also involved thereby enabling people to network. Every now and then companies are encouraged to provide knowledge sharing sessions, soft skill training etc. For a Startup these facilities are priceless.
For Naive startupreneurs bring a part of aspiring companies, professionals with rich experience and knowledge is a strong towards success.
Making business partners & clients happy:
The ultimate goal for everyone is to get down to business. This could mean working from home, garage or a coworking space. But imagine if you introduce your client in a clogged up room or a noisy cafe, would it really leave a good impression about your or your business? The answer is No.
Imagine having to introduce your clients or partners to a well groomed office space or conduct meetings in a tech savvy and fancy meeting rooms, you could be one step closer in bagging your goal.
Now imagine if you as a startup or a freelancer who could avail these benefits in minimal investment! Shared work spaces makes this a possibility, you can rent meeting rooms individually based on your requirement per person hour/day and or book an office space with meeting rooms etc.
Find a perfect space to present your project, ideate and innovate with Spacealize. You are just a click away in finding tech savvy, trendy meeting rooms, which is sure to leave your clients in awe.
If you are a startup with a bunch of millennials, you would agree with this quote “work hard and play harder.” For millennials work is fun, they do not get intimidated or stressed with targets and deadlines.
With millennials thronging up the coworking spaces, high speed internet, printing & scanning facilities, office stationery etc have become a basic necessity that needs to be offered. But owners of such spaces are also pampering the millennials with exotic perks, such as gaming zones, recreation spaces, fitness zones, crèche, pet zones, modern office interiors, ergonomic furniture and so much more. More innovations are sure to happen in the years to come and revolutionise coworking space architecture.
Feel good atmosphere:
All said and done, the most important aspect every employee seeks is a feel good factor when he or she comes to work. Imagine spending more than half of your day in a boring, lifeless workspace, demotivated and frustrated.
Coworking space is changing the landscape of working. A shift from a decade old mundane office spaces to exciting new coworking spaces is the biggest transformation to professional mankind. A study has indicated 70% feel healthier in coworking space and 91% have improved their communications skills after the coworking.
If Perks, amenities, facilities are one side of the coin, the other side is the affordability a coworking space can provide to the startup professionals. Starting a new venture can be exciting but at the same time also nerve racking.
Coworking spaces offer a myriad of flexible membership options (hourly/daily/weekly/monthly), dedicated space for productive work and complete business support. Shared work spaces provide a business environment for nominal fee, where startups and freelancers can flourish.
So if you are a startup or a freelancer, look for a good coworking or shared workspace and kick start your business with a bang. With shared spaces you don’t need to make compromises and wait until your business thrives. Say goodbye to the rough nights, scary bill payment days and maintenance traumas, and choose to Cowork! Explore cost effective coworking workplaces with great location, ambiance, infrastructure and like minded professionals with a grit to grow big in business.
“In every success story, you will find someone who has made a courageous decision”- Peter F Drucker.
If you are a startup and you choose to make a bold decision or you are Looking for a shared workplace, but not sure where and how to begin? Take Spacealize on board and explore coworking spaces in premium locations pan India. We charge no brokerage and best of all, we provide custom services for our valued customers.