Tag: shared office

Coworking businesses are experiencing a huge and promising boom – and as we move well into 2020, that boom shows no sign of slowing. As someone operating their business out of a shared space, what types of coworking members will you work next to?

Millions of people across the globe are congregating at coworking spaces, seeking other professionals to network with, trying to overcome the boredom and isolation of working from home, or trying to save on the massive costs and overhead of setting up a small office in a big international metropolis.

Some are simply chasing the trend, interested in what a shared space might have to offer over working from coffee shops or from the comfort of one’s own sofa. However, just as many coworking spaces are thriving, some are not. Some of that has to do with an increasing growth in competition.

Because these spaces have a wide variety of businesses, entrepreneurs, satellite offices and more, it may be confusing what to expect as a customer. What kind of coworking members will you work alongside in your office space? The answer is quite complex.

What is the Average Coworker?

Coworking members are extremely varied, yet the most significant common factor in all tenants is independence. People who work in coworking spaces are less likely to already spend a significant amount of their time in an office.

In other words, freelancers – in all their forms – will often make up the majority of coworking customers. But they certainly aren’t alone. Remote workers, startup teams, entrepreneurs, and smaller satellite teams from larger companies are some of the other people who typically seek out shared spaces as an alternative to expensive and long-term leases in big cities.

The average coworking space customer is:

• • • 39 years old, and only a fraction (7 percent) are younger than 30.
    • People who work in coworking spaces are evenly split between male and female.
    • Many different professions utilize coworking – from graphic design to web development, software engineering, copywriting, management, and more.

A large portion of the people who work from flexible spaces subsist at least partially on what is currently known as the ‘gig economy’. They need a workplace that shares many of the qualities that their own work does: flexibility, transience, and mutual benefit.

As the gig economy continues to grow and is expected to account for over 40 percent of the US’ workforce by this year, this will likely be mirrored in the soaring growth that coworking itself is enjoying.

What Are the Common Types of Coworking Members?

These shared spaces consist of many types of coworking members. Some of the people expected to work in shared office spaces include:

Independent Workers:

These include any and all freelance and self-employed professionals who are not tied to a single client or company, and instead seek work while marketing themselves and their services as individuals. They do not represent a group or team, although they might work in several teams, and typically do not enter long-term contracts.

Startups:

Plenty of startups in larger, more expensive cities may opt to work out of co-working spaces in the first few months to avoid the costs of leasing an office. Because startups have a good chance of imploding early on, there is additional risk in leasing an office for a year or more. Flexible spaces provide the perfect alternative for these new companies. Similarly, these spaces are excellent for small-to-medium enterprises (SMEs).

Remote Workers:

Remote workers may be employees in startups, SMEs, or larger corporations who do not have a set workspace, either voluntarily or as per their employer. Some companies have flexible workspace policies, allowing employees to work from the office, from home, or from anywhere else. Remote workers may relish a coworking space as an alternative to their main office or home, and as a more productive alternative to the local coffeeshop.

Entrepreneurs:

Entrepreneurs often enjoy working from coworking spaces because it allows them to meet with different professionals, network, and continue to work on their own projects while exploring new opportunities.

Part-time Workers:

Unlike remote workers who are full-time workers and freelancers who aren’t working for an individual via contract, part-time workers may work several jobs, one of which may be remote. Shared office spaces provide an alternative space to home if home isn’t an option due to poor internet connectivity, space issues, or distractions.

Satellite Teams:

Coworking spaces are increasingly becoming home to smaller satellite teams from larger companies and enterprises seeking to take advantage of the lower overhead and cost of setting up a team in a city where they may have an interest in better serving their customers.

From huge corporations to smaller, yet still sizeable multi-national companies, many different coworking members have an interest in using such spaces to save on costs and provide their mobile teams with a productive environment to do their work. Different companies have also recognized the collaborative worth of the shared spaces, understanding that there’s more to a coworking space than what meets the eye.

Creating the Right Space for You

As a business sharing space with others, there’s going to have to be a little give-and-take. You can meet people halfway and, as much as possible, create an environment that is inviting to you. That means avoiding harsh or contrasting themes, or strong or overly bold design choices. Luckily, the space is often furnished and has all the amenities you will need. The coworking office will often come with:

• • • Large open common areas
    • A healthy variety of amenities
    • Several private rooms for meetings or sensitive work
    • Fast Internet
    • Quality cooling and heating
    • A meticulous focus on keeping things clean and pleasant

Often, the space will also provide different price plans for different groups of professionals, with various perks and levels with options for both an open space and the option for a private nook when a task calls for total concentration.

Should You Look Into Flexible Office Space?

If you find yourself in one of these categories, then flexible offices may be perfect for you and your team. There are many benefits to coworking that go further than just having a place to concentrate, work, and be productive.

Whether you are an individual freelancer, a management team, or a satellite office, contact us today to find the perfect office space for you.

Co-working spaces are unique settings where employees are struggling to find ways to stay focused, in freedom filled environment, which can be seen as lackadaisical cooperation.

There’s plenty to like about co-working spaces, but there’s also a lot to criticize. Depending on the shared working spot you work at, you’ll have a different list of pros and cons. A general thread between all co-working enthusiasts is that while it does plenty to help you appreciate the benefits of cooperative industry and professional socializing, it can be tough to work out of a flexible office space if you’re having a day where you need to focus entirely on the task at hand, and are struggling to find ways to stay focused in a rowdy shared office space.

It can be a nightmare roaming the office for a slightly quiet spot, trying to cancel out as much noise and behavior as possible, and making it clear to everyone around you that you really need some peace and quiet for about three hours. However, with a little bit of organization and a little more prosocial behavior, you’ll have no problem finding ways to stay focused in a rowdy work environment.

It’s All About Pros and Cons

Open offices, shared spaces, and co-working offices share a few general philosophies: people work best when they’re working together, and shoe box cubicles are not doing the professional world any good.

Overall, people in flexible spaces are far more productive than their counterparts. Even though it may seem that spending a large chunk of your day conversing with your teammates is opposite of being a productive team member, there’s plenty of research demonstrating that people generally work better in a co-working environment.

It’s all about embracing the pros, and working around the cons. If you’ve recently made the switch to a coworking environment, then you’ll need to accept some change.

Shared spaces can be very different from normal offices in their overall layout, as well as their size, and in the variety of the professionals who occupy them. If you’ve recently switched to a co-working space, reserve a couple weeks to get to know everyone, adjust, and embrace the benefits of having a little more intimacy with your coworkers.

Sure, they’re more likely to see what you’re doing on your screen – which means you’ll want to be more careful about how and where you browse – but by embracing that, you’ll have the opportunity to share a little bit about yourself, how you motivate yourself at work, what you do to get into the flow, and how your coworkers do it (and what each of you do with your downtime).

Take the time to ask others how they accomplish work. They might surprise you with useful insights on how to organize your work, their successful ways to stay focused, and reap the benefits of an open environment.

1. Lay the Foundation 

If you feel like the environment you are in isn’t conducive to productive work, just come out and say it.

Don’t be aggressive, speak it with a tone of genuine curiosity, and you’ll get some real answers. Others might even feel the same but weren’t ready to acknowledge it or bring it up. Or, consider asking your team leader to bring it up for you.

This isn’t meant to be a matter of laying down the law – it’s meant to invite discussion on the creation of  basic boundaries, a rule set allowing the group to mold the work environment into a place where everyone can get their work done, and still reap the benefits of a social co-working space.

2. Choose Noise-Canceling Earphones

No matter how much you talk it out with the others, your first goal shouldn’t be to create an environment of deafening silence.

That’s oppressive and does the opposite of what co-working achieves through an improved morale and camaraderie. A certain measure of volume is expected in a social setting, and just because you’ve got work ahead of you that requires pure focus doesn’t mean everyone else can’t enjoy their reprieve from focused work.

Because of those moments, it’s in your best interest to invest in a pair of noise-canceling headphones or earphones (depending on which you prefer). Some offices instate an unspoken earphone rule: one bud in means you’re focused, but may be interrupted for something important, and two buds in means you’re not to be touched.

3. Find a Better Spot

If there’s more going around you than just an auditory distraction, then consider packing up and moving to another corner of the office.

Co-working spaces tend to be quite spacious, with several nooks and crannies for workers who require a little more peace and quiet time away from the common area. If every silent spot seems taken, move to a less rowdy spot.

4. Just Take a Break (Away from the Office)

Some days, your preferred space in the office is taken or it’s very distracting. That’s okay, it happens, and it gives you a good excuse to breathe a little new air and stretch your legs in a completely different location:

• • Head out to the local library,
  • Hit up a coffee shop, or
  • Go work from the park.

Taking a break away from the office might also help you breathe a little extra creativity into your work and gives you the freedom to choose where you want to concentrate.

5. Put Your Phone on Silent

In the day and age of the smartphone, people have become easily manipulated by their phones. Start to cut your phone out of your life by setting a strict rule every time you sit down to work on a task that requires concentration: no touching the phone until you’re done.

If the phone is important for something (like reviewing notes you’ve taken down at some other date), transfer that data over to your workstation/laptop. Alternatively, put your phone into airplane mode to avoid any and all calls, texts, messages, and notifications.

Every time your phone buzzes, you’re distracting yourself from work. If you decide to let it be, the urge to check your phone grows. Even if you’re just checking and not opening the notification, those few seconds away from your work only serve to disrupt your flow.

6. Take It Up with Management 

When all else fails, it’s time to take it up with management. If the office isn’t suited for concentrated work, speak to management of the co-working space. Inform them that you’ve tried everything to concentrate.

If they’ve heard similar complaints, they can take appropriate actions to help make the workplace a little more conducive towards focused work. But if you seem alone in this complaint, it might be a good opportunity to seek alternative work arrangements.

There are 582 million entrepreneurs in the world; some of them work alongside others, some of them work independently. But one thing is consistent: the need for office space for entrepreneurs. Are co-working spaces the answer?

Coworking spaces exist for one major reason: there is a significant number of businesses and individuals who find that it is too expensive and often unreasonable to rent or own office space in some of the world’s largest and most central metropoles.

These individuals create room for a unique demand: space that they can rent on much shorter terms, with far less setup and overhead required. As we continue to forge ahead into a future that emphasizes a fast paced approach to everything, many startups and new entrepreneurs desperately need a space they can call their own within minutes.

The Benefits of Shared Office Space for Entrepreneurs

The traditional office isn’t dead, its era hasn’t passed – but it seems there’s room for more than just one type of space, and co-working office space for entrepreneurs is evidently here to stay.

Should you pay it any mind? If you hope to be successful, the answer is yes. Here are the 4 main reasons to consider co-working or flexible space as an entrepreneur.

1. Having Your Own Space Can Be Expensive

More and more businesses are cropping up globally today than ever, but fewer people are starting them (especially in the US). This tells us two things:

• • • First, it’s easier today than ever to start a business.
    • Second, it’s easier than ever to have a business crash and burn.

Becoming an entrepreneur and launching a startup business carries with it a considerable amount of risk and requires a serious amount of committed capital. It’s important to know when and where to cut costs, and where to invest.

For startups, one of the biggest initial investments is in space. Startups need space to flourish – they need a place to grow, a place where people can come to work and deliver to their market. Co-working office spaces for entrepreneurs exists to fulfill a critical demand in a time of economic instability, especially among young entrepreneurs, who are much more likely to struggle with student debt and financial stability.

These shared, flexible spaces provide room for potential startups to flourish and innovate, rather than die much earlier on. But the fact that we are seeing more startups despite seeing fewer entrepreneurs also leads us back to that crucial second point: it’s easier than ever to crash and burn.

This means that entrepreneurs today cannot afford to make serious long-term decisions without a backup plan, and a way out. Coworking office spaces for entrepreneurs provide a little less stress  of a security deposit and the mandatory long-term lease – instead, startups today can rent space on a monthly basis, and cancel their membership whenever necessary.

A lower initial cost, and far less risk: these are things that are highly attractive to individuals who know that 9 out of 10 startups fail, and most successful entrepreneurs are the serial kind.

2. Why Not Work from Home?

Entrepreneurs are not just self-employed, but they’re monetizing an idea. They’re commanding a business, and in many cases, work with teams to get their idea off the ground and into the realm of reality – and onto the market. When organizing and running a business, it helps to have a team to physically interact with and oversee. A coworking space lends itself as the perfect initial spot for small startups to work without investing massively into office space.

However, not every startup needs an office. There are plenty of businesses that can operate just fine virtually, and many business models can survive and thrive with each individual member of the team telecommuting and working from home. That being said, there are substantial benefits to being an entrepreneur (or even a freelancer) at a coworking space, rather than restricting yourself to your own four walls.

For one, the co-working space can help you thrive. For many, it’s better to work with others than to be stuck at home alone. It can make you: more productive, help stave off the feeling that things aren’t moving in the direction you want them to and can even help you avoid loneliness.

Not everyone feels this way. There are plenty of freelancers who do much better simply working from home, where they can prioritize their work, manage their time more efficiently, avoid unnecessary costs and commute, and spend more time doing the things they want to do after hours, like exploring the city or grabbing a drink with friends. Which type are you?

3. Networking is Critical 

Coworking spaces provide a spot for more productivity, more innovation, and better chances at thriving. Why? Partially because it is a communal experience. Members of a shared workspace do not feel disconnected or disjointed but feel as though they are part of something greater, despite not being connected to a single company.

There is no hierarchy, no single boss or upper management for the whole office, and no one’s tasks are dictated by any one individual or committee. Instead, small groups and industrious individuals can coexist and work on separate projects, while sharing a space together, becoming colleagues and coworkers, and even exchanging information.

Networks are created organically, projects begin and come to fruition, and all this happens without a sense of internal politics or the friction of direct competition. Joining a coworking space specifically to seek out clients and business prospects is a no-no. But these networking connections can happen, and they’re a definite plus.

Should You Go for It?

Ultimately, there are many arguments for co-working office spaces for entrepreneurs – and some against one. It bears mentioning that there can be good reasons not to opt for such a space, including the fact that some businesses need the space to truly function, and for entrepreneurs working purely from home operating a much smaller, more virtual enterprise, it may be a good idea to cut the time and financial costs of showing up to a coworking space and just getting organized within your own four walls.

But for thousands of potential and current startups across the country, and hundreds of thousands of businesses, entrepreneurs, and freelancers around the world, these office spaces represent a godsend in a market that otherwise requires immense capital and serious financial commitment, potentially with unfavorable conditions, no equipment, poor amenities, and no utilities.

Conclusion

Flexible office spaces for entrepreneurs come with their own amenities, a unique work culture, an environment tailored towards productivity and cooperation, and the freedom to move from space to space without being made to settle on a single spot.

It’s no longer just freelancers and small businesses that use shared rental work spaces anymore – they are actually quite popular; but why?

With steady growth leading experts to estimate that approximately 3.8 million people will be making use of shared work spaces in the world by 2020, from just 1.18 million in 2017, it’s become clear that coworking is supplying a demand that was previously left untapped, and unrecognized.

As it becomes more and more prohibitively expensive to lease and manage office spaces in the world’s largest and most competitive cities, entrepreneurs and businesses alike are forced to find alternative work spaces. Coworking spaces have also grown to meet a new demand for flexibility in an age of eternal uncertainty – as businesses and individuals seek to take greater risks and chase after bigger ideas for the sake of innovation, it becomes more and more important to cut down on costs and minimize commitment.

Shared spaces save on space and allow a larger number of individuals and groups to account for the costs, giving startups and other professionals the opportunity to set up and work in some of the world’s most competitive and exciting cities at a much lower cost, without the pitfalls of working from home or virtually. But what constitutes a rental workspace, and how is it superior to working out of a coffee shop, or leasing a cheaper office further away from the city center?

What are Shared Rental Work Spaces?

At its simplest, a rental work space is an office that consists of multiple professionals and companies, rather than just one company. As such, they function on a fundamentally different model from traditional office spaces, particularly in terms of pricing and freedom.

While a landlord may lease an empty office space to a business for several years, with the permission to redesign the office as they see fit, these work spaces are furnished and designed by the owners, with spaces leased to individuals and companies on a monthly basis. Like a monthly membership or subscription, companies are free to simply leave and opt out of their monthly renewal or continue.

Work spaces come with a variety of amenities rolled into the monthly price, including wired or wireless high-speed Internet, break rooms, comfortable seating, secluded meeting or conference rooms, a kitchen, and more. Some spaces encourage companies to bring their own equipment, while supplying equipment that is usually communal, such as:

• • • Printers
    • Conference equipment
    • Monitors
    • Televisions

As such, the workspaces feature a much lower overhead, as well as an attractive monthly fee versus a several-year-long commitment to a hefty and expensive lease. For smaller companies and freelancers, this makes for a much better alternative to seeking out a private office in a large city.

Because shared workspaces are inviting to a variety of different professionals, they have also opened the door to a completely new way of working together, encouraging cooperation and networking within the office. But for whom?

Who Uses Them?

Rental work spaces are ideal for partnerships, businesses, and individuals that lack the capital to afford a private office and could benefit from networking and potentially cooperating with other professionals in a variety of different fields. Coworking spaces are very popular among sole proprietors and smaller teams, but function equally well for:

• • • Smaller companies
    • New start-ups
    • Temporary partnerships
    • Entrepreneurs
    • Freelancers

Aside from smaller firms and partnerships, coworking spaces are ideal for temporary teams, for professionals who need a shared space to work for just a few months on a project, before disbanding. While common among film crews, this type of setup is now growing in popularity in other industries as well, especially with the growth of virtual workspaces and rental spaces.

Larger corporations can also make use of coworking spaces by utilizing them for satellite offices in regions far away from their usual private offices, saving on the costs of preparing an office for every physical location. While established businesses profit from having a branded space to receive clients, this is not always necessary.

When to Transition from Shared Work Spaces to a Private Office?

It’s still critical not to forget that the private office isn’t going out of style – it’s simply coexisting with a brand-new model for work rooms. Companies that can afford to invest in their own private office space are not going to wholesale give up on that luxury for a coworking space potentially shared with competitors.

However, it is very likely that they are already profiting from the benefits of a coworking space through the work they outsource to freelance professionals and other smaller companies, as well as entire departments and satellite offices set up in different states and cities.

If you’re thinking of choosing between a private office and a coworking space, it helps to keep in mind the pros and cons. Shared work spaces, as previously mentioned, provide the space for collaboration, improve productivity in many cases, help keep workers happier, and boast much lower costs than traditional offices. However, there are cases where the cons of coworking overshadow its benefits.

If you have an established business with serious capital, then the need for networking and collaborating on projects with other companies or professionals may not be that high. Meanwhile, you may also want to control your own work environment, improving productivity in your own way by catering to your workers, rather than being at the mercy of how busy a coworking space may be at any given day.

Choosing The Space That is Best for You

Your clients may also be expecting a certain level of business, meaning that having your own office and signage could be important to sending the message that you’re an established and growing business looking for larger long-term profitable relationships.

• • • Through your own office, you maintain complete control over:
    • Ergonomics
    • Furnishings
    • Break room choices
    • Lighting
    • Design, and much more

You can match your business’ tone with your choices in design and layout, rather than having to mesh with other companies as well. A private office is also a safer office, especially if you’re working with client information that is best kept confidential.

Private office space is not ideal for every business, especially in this day and age. But there may come a time when you outgrow a cowork space. Ideally, you can put the benefits of both to use, working with professionals out of nearby coworking spaces while providing a private space for your own crew.

Luckily, The Collection offers both. Whether you are looking for shared workspace, or your own traditional office, call us today!

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The benefits of coworking are aplenty. From lower costs to greater networking opportunities and plenty of improvements to innovation and productivity, these spaces enable over a million workers around the globe to work smarter, rather than harder. 

There’s nothing wrong with hard work – but it’s easy to argue that there’s plenty of that going around as is.

As mounting evidence shows that stress at the workplace and a lack of healthy balance is contributing to worker burnout and rising levels of depression and anxiety, we must do more to help keep workers and freelancers healthy.

The Benefits of Coworking

It’s only when we’re healthy that we can work productively.

As such, the benefits of coworking extend past the bottom line and toward critical issues, such as worker crunch and the mental effects of a monotonous and oppressive office atmosphere.

Combating the Negative Side Effects of Telecommuting

While telecommuting allows many to take better advantage of the time usually spent physically relocating to an office, showing up to work and being around other people is important.

• It can boost productivity and creativity, in the right environment
• Spending your working hours entirely alone isn’t always healthy

Loneliness is a crushing problem affecting millions of Americans, and despite being more digitally connected than ever, we’re spreading ever further apart. Coming together in a collective space to share ideas and work together can be very healthy and productive.

The benefits of coworking spaces is that they enable more people to do just this, often with better commutes and a greater variety of options on where to work, and when to work. There is more flexibility and freedom.

Cheaper Overhead, Simpler Costs

Perhaps the greatest benefit at a glance is the lower overall costs, and the much lower time investment.

Startups with few resources as is now have the opportunity to seek out a premium office space at a monthly cost, without the hassle of finding the right space to lease out for a year or more, not to mention the costs of getting everything up and running with the proper equipment.

The overhead for setting up an office can be immense – yet there’s little reason to do so when there are more benefits to be enjoyed from working through a coworking space, especially in the first few months.

The flexibility of being able to renew a membership every month also removes the sense of commitment that comes with signing a lease. This gives startups the ability to change their mind at any moment and invest in a space of their own when they feel the time and money to do so is available.

Something for Everyone 

A common criticism among first-time purveyors of the idea of coworking is the fact that, at first sight, it’s an incredibly chaotic environment.

The lack of personal space in the classical sense, and the lack of the ‘box’ by the oppressive cubicles of old, seems to inspire the fear that anyone willing to give it a chance is going to find loud noise and chaos.

Yet this isn’t true of most flexible spaces, including The Collection. While some are overcrowded and underequipped, good spaces are limited in the amount of space they provide. Therefore, it is not an issue for workers or freelancers to find a spot they feel comfortable in.

Many spaces set aside a portion of their space specifically for areas of silence, where those bothered by the noise and the networking can retreat temporarily to do the bulk of their creative work, before returning to the ‘overworld’ to socialize, network, soak up fresh ideas, or just take a quick break before attending to the next task.

For example, our monthly offices are private offices, giving everyone in our office rental space their privacy, while only paying for monthly terms.

It’s important to remember that it tries to address the fact that many people work differently. Work styles don’t evolve per generation, but per person – some enjoy working in the small hours of the morning, before dawn, in a space entirely their own, with no noise to distract them save for the tapping of their own fingers.

Paid Networking

One of the primary benefits of coworking is the melding of ideas – and in a sense, it’s worth it to come back to that, and explore the benefits of networking with professionals in entirely different fields, despite the superficial lack of overlap.

As our ideas for the working conditions of the future continue to evolve in the face of ever-more sophisticated automation and machine learning, and the eventual reality of AI in the workplace, we must realize that career fluidity often trumps specialization.

The worker of the future will have to educate themselves on more than a single kind of work, especially when trying to develop products to sell and market. Shared workspace enables a unique form of socialization that benefits:

• Writers
• Coders
• Accountants
• Artists
• Marketers
• Executives

Of course, that might not be everyone’s cup of tea. Creatives often struggle to work out of a traditional office but still need a healthy separation between home and work – and these spaces market themselves as the perfect place for individuals to seek a place of productivity.

A Rapidly Growing Industry

There’s no doubt that this trend will continue to thrive in developing and developed countries alike, as it becomes more expensive and more time-consuming to move workers to dedicated office spaces.

For startups, satellite offices, freelancers, and established companies alike, coworking will continue to play a role as a place for the free exchange of ideas, a melting pot of work styles, and a hub for creativity and productivity to flourish as everyone seeks their own ideal space.

Recent stats report that the number of people working in flexible spaces is expected to rise to 3.8 million in 2020, up from under half that (1.6 million) in 2017.

More spaces will be built to accommodate the expected growth, and although the traditional office model won’t go anywhere anytime soon, it’s not expected to come out unscathed – there’s plenty to learn from the benefits of coworking, even in regular offices.

Common Questions