As an entrepreneur, you feel so proud of yourself for taking the firsts steps towards becoming a business owner; you have an idea that will sell millions (hopefully), you have the skills, you even have that business plan everybody always talks about; but you also have all of your life’s savings on this basket, and it’s scary.
Of course you are looking for ways to cut back on expenses and we all know an office space, even though makes your business look professional, is a very big expense.
A good way of saving some dollars is a coworking space.
So what was coworking again…?
Nowadays many new entrepreneurs and startup companies are working from their “Home office” AKA their basement, bedroom, kitchen table or garage. But just because you are a one person company it doesn’t mean you have to stay cramped in a tiny space in your home, or buy a daily coffee so you can use the shop’s WIFI. With coworking spaces you can now make your own good coffee (and invest those $5.00 in your company) while working in a professional environment without the high price tag of renting an office.
Co-working sites are shared open-plan areas where people work independently but communally. Members include telecommuters, freelancers and other independents as well as entrepreneurs looking for collaborators.
It’s all about the people you meet.
As a startup company or even if you are part of a well-established organization, you know the benefits of networking. This is an awesome perk of coworking spaces; your company is meshed with several others so you have many entrepreneurs and professionals at arm’s reach. This is awesome for consulting, exchanging ideas, talking about new projects or even grab a coffee during a break. We can all agree that being in a creative and social environment can only encourage your own creative spirit.
Plus, networking connections can come in very handy for startups, imagine you are just starting to function but you have 0 accounting skills because, well, math was never your thing (It’s almost the same right? numbers and stuff…); But not to worry, because it turns out there is an seasoned accountant in your coworking space! Now you have a new member for your team or at least a go-to person for your accounting questions.
“My dog thought it was a good idea…“
A coworking space allows you to share your ideas with others and actually get some useful feedback (no offense to Shaggy, his licking in response to anything I ever asked was always appreciated…). Coworking brings driven, enthusiastic people together to share ideas; you will, more than once, stumble upon something great that would have never crossed your mind if Larry, the accountant (AKA your new Best Friend), had not introduced you to his other friend who owns a marketing and advertising company. But think bigger! Coworking can form relationships leading to starting a new business venture together, the possibilities are endless: One brilliant entrepreneurial mind is great, now imagine 2 or more! (That’s the kind of math I like!).
Share the costs!
A benefit of coworking spaces is the price, since you are not paying all of the office’s bills by yourself, you save tons of money. In addition, a lot of coworking spaces offer other things like: answering services and a physical address where you can get your work-related mail delivered (I mean how professional is it to have your mail delivered to a well-known business building vs. your grandmother’s house?). Plus, a lot of coworking spaces offer calendar events that include classes, workshops and mentoring, you might finally learn how to use Photoshop; maybe you can even give QuickBooks a chance.
Balance you work and personal life and Improve productivity (Get things done, basically)
Not that it’s not awesome to be able to work in your pajamas and just get up and grab your favorite snack from the fridge (mozzarella sticks thank you very much!); But working from home can be very distracting for you: if you are familiar with procrastination you know that you will do everything (laundry, the dishes, cleaning the fridge, walk the dogs, organizing the basement etc.) before continuing if you are stuck on something. When you have a defined work place where you are surrounded by other hard working people you feel motivated (almost pressured) to keep working hard, maybe you take a break, but you are driven to go back and keep thinking, you get things done.
Also unless you are single and living alone, it can be very disruptive for your household not to have a defined work schedule/space since you have the temptation to get up and work at 3 a.m. (and it makes you miss having breakfast with your kids before school the next morning). Having an actual office provides a better structured day: you actually get up and get dressed to GO to work in the morning; you can still make your own schedule (I mean you are the CEO of your own company! How grown up is that?!), but you create a separation between work and home. Also imagine all the things you can do with that office you won’t be using anymore: a game room, a sun room, a woman’s cave (Yep, women also want to have caves sometimes…).
Still need proof that coworking spaces are worth it? Here are some numbers (YES! Numbers do come in handy sometimes…).
A recent study suggests the high level of customer loyalty is proof that coworking spaces are doing something right. More than half of coworking space members stated they did not plan to leave their coworking space, and a further 17% said they had no plans to leave within the year. Interestingly, the biggest reason for entrepreneurs leaving is because their teams get too big (a third of the business in the study grew in numbers since joining).*Study conducted by Deskmag
So what are you waiting for?
If you are located in El Salvador or travel around Central America, POINT can be an awesome solution for your virtual office / coworking needs.