Thinking of a co-working space? Consider these cons before you do!
Co-working is the next big thing and just like any other tempting craze, it’s on the rise, often becoming the top-most priority of office arrangements for budding entrepreneurs. For those still unaware of this term, co-working, as the name suggests, is an office sharing arrangement between individuals and small businesses. Coined in the year 2005, the term ‘co-working’ has been growing ever since, and for the right reasons since it offers a myriad of benefits ranging from greater networking opportunities, more social interaction, less risk than private office rentals, a professional setting, and finally, low maintenance.
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However, just like every positive has a negative, there are major downsides to co-working as well. Yes, it may seem to be a very delightful endeavour to partake in, but this is definitely not everyone’s cup of tea. There are certain companies that just cannot function well within a co-working setup and need a space of their own. Here are four signs that co-working spaces are not for your company.
Not keen about networking
Co-working spaces are inherently social in nature and one has to be willing to use those opportunities in order to reap benefits from it. If yours is a company that is buckled down and focused on advancing the product for the time being, it’s better to rent out a private place of your own. When, after creating and expanding the product, you feel the need for your company to engage in networking, you should go for a co-working space.
Lack of efficiency and focus
There is no shame in accepting the fact that some people sense a lack of focus and efficiency when it comes to working surrounded by lots of people. Yes, it is easily possible to get distracted with all the constant clicking, buzzing, and jibber-jabber throughout the day, especially if your company is working with another that is of an entirely different domain and niche. A startup that focuses on making content probably won’t gain much from being based in a room full of techies.
Customers want privacy
Unless someone is snooping on someone’s emails or checking phone messages, privacy is generally not a matter of concern for fresh-out-of-college employees. However, it’s a completely different story when your company deals with sensitive situations with clients. This can be a make-or-break factor for companies dealing in law, medicine, or finance, where finding a “quiet” corner in the office space can be very problematic.
Also, if your company operation calls for frequent use of amenities like the conference room, it’s probably best to let go of the idea of indulging in a co-working office space.
You work by yourself
If your company is in the baby stages of development and you can’t quite call it a startup, it’s probably for the better to rethink the whole co-working situation. If the circumstances are such that you are the sole employee and are working tirelessly to develop a viable product to show off to the investors, chances are, you need a quaint little space to get your ball rolling. If you are at this early a stage of your company’s lifespan, cut down on expenditure do not let extra costs bog you down, choose another popular alternative instead, that is, working from home.
These points are definitely not to discourage anyone who wants to give co-working spaces a try — they are definitely fun, lively, and well-liked among the majority of people. However, always remember that it is important to find an office space that works best for your company and if co-working spaces are not the answer, then it’s probably in everyone’s best interest to move on.