A phenomenon that has caught the attention of various entrepreneurs around the globe is the vibrant Startup revolution taking place. Most of the startups are a result of innovative and creative ideas of youngsters who are driven and motivated to realize their dreams by solving problems that their local community and the masses face. India, with the largest youth population in the world, is not aloof from this global trend. More and more entrepreneurs are coming up with their own ventures which require the necessary infrastructure to grow and flourish. However, due to lack of resources and uncertainty of their business, such startups are hesitant of investing in a fully functional and well established working space. This often leads them to work amidst distractions and isolation in their homes or wifi enabled eateries.
Step in, co-working spaces: A boon for creative freelancers and dynamic startups
A co-working space is a practice of sharing an office space with like-minded people rather than working alone at home or shuttling between coffee shops. The rapid mushrooming of startups, created the need for an environment which stimulates self-growth and improvement without blocking up major seed capital for an office set up.
In such a scenario, co-working spaces are a contemporary trend that recognizes the importance of flexibility, collaboration, community and shared resources. Whether one is an independent professional, a budding freelancer, a remote worker or the founder of a start-up, a co-working space makes an attractive and quirky discovery that proves to be an asset for all. Not only do they save on valuable time, effort and cost of establishing a workplace right from scratch, at the same time, they are well-endowed with modern-day infrastructure facilities like high-speed Wi-Fi, aesthetically designed interiors, a well-stocked pantry, access to numerous events, conference provisions and a heterogeneous community.
If you’re wondering how exactly a co-working space benefits you, Then take a look at at the following few advantages of working with akin minded millennials in a co-Working Space:
Networking is the staircase to success for any business. Everyone, from an entrepreneur to a startup as a brand or a freelancer, sustains on ceaseless contact building, making connects and fostering camaraderie through all stages of growth. While working with co-workers from industries and fields of practice, distinct from one’s own, in a co-working space, one gets regular opportunities to introduce themselves, their beliefs and business ideas. Thus, a coworking space also helps one to hone their “pitch” on an individual level .
Collaborating with professionals from diverse backgrounds and multiple arenas opens many doors that aren’t available anywhere else, but the richly diverse community of a coworking space
Skill and the right people to execute your ideas are required time and again, in any company, irrespective of its industry or scale. The right talent, is, however, not easily available and economical for budding founders, considering a startup’s constraints. A co-working space provides a pool of steady and credible talent, in varying domains like content writing, designing, digital marketing etc. This is one prominent advantage of such a setup, where conversations with your co-worker, make you discover the resources that you were scouting, sit just a few seats away from you.
Co-working spaces thus permit partnerships and recruitment of people, paving way for potential clientele and growth.
When an individual is working for hours in isolation, a sense of disconnect arises-from the developments in the business environment, technological advancements in the startup ecosystem, among other psychological effects. A co-working space creates a healthy atmosphere to interact with personalities from myriad fields of work and walks of life.
Thereby; a co-working space nurtures an atmosphere to experience and foster alliances, in the process, refines one’s personality too.
Observing and taking back from the behaviour of those around us is a great source of learning. When we see our co-workers behaving compassionately towards others, it instigates us to grow as a person.
Witnessing founders of startups around oneself, leading their team members, encourages one, and makes them want to emulate similar qualities of a good manager.
Mass reach, networking and ideal marketing are impractical for a brand, operating in confinement/solitude. Communication and synergy within a co-working space ables a company to permeate through various market segments and enjoy several mediums of advertising and public outreach via the co-working community.
Hence, a co-working space makes a concrete base in every stage of a business, especially the teething stage of a startup, by connecting it to various mentors, ambassadors, patrons, B2B & B2C consumers etc.