Co-working Space: A Juncture For Startups To Scale Up fast
Live Cast in association with Intel India
An entrepreneurial journey begins with zeal and zest for achievement. Even though a founder of a startup company is prepared for challenges across the path, it can really turn out to be spending time all by your own. This is the tipping point for draining of mental energy, which may even affect your business at some point. A co-working space have, therefore, caught the fancy of the young minds, who do not wish to hit it alone at all times really.
Going by a simple definition, a co-working space or a co-rented space can best be defined as a co-joined workplace for an employer and his team. People from various professional backgrounds come together in a real-life cubicle-to experience a co-working set up. It is, of course, a temporary arrangement, available at different price points. However, it tactfully eliminates the requirement of a startup team to bear the cost of setting up an office or renting a new place.
More importantly, these make-shift set ups are pre-equipped with essentials like printers, fax machines, internet etc. So, practically there are no amendments required at any extra cost.
Then, the young teams have a benefit of connecting with like-minded people. It goes without saying that there are many similar minds who seek a co-rented office space. In addition to simple economics, a new working concept like this also helps in connecting and networking with more people. It not only reduced mental fatigue, which you may experience working alone, in turn, helps in building mental stamina. A work from home opp is also loathed with hints of boredom and isolation in work. So, it’s a wise thought to connect and interact with people from different backgrounds.
Besides having good reasons to beat the blues initially, a co-working space can offer you more growth benefits. Networking with people who really matter is one. It is not just about verbal discussion or debates on the matter of interest, but also a good time to build contacts and nurture relationships, for future benefits along your path. It may even shape up as a future investment channel for your business, or give you a co-partner who is keen to join your business.
Besides, hiring the right people always requires a deliberated effort to connect with like-minded people. A co-working space is full of professionals and teams from different industries and backgrounds. There are different people from different walks of life, and if you are able to trade their skills for your professional gain-then, you definitely have an advantage.
You never know that you may discover a professional having a requisite skill which matches your business requirement. In simple words, it is a perfect breeding ground for talent (which may hold a potential for your startup as well).
Again, the shared office space is available at a subsidized cost, depending on your short term and long requirements. Different cubicle space is available at various price points to offer convenience, and complete flexibility. For example, a one-day hire rate or a weekly price chart. However, there is no commitment, as long as you don’t have to pay for it.
On the other hand, there is no definition of a cubicle size either. One has a choice to choose the required space, according to the team size and other requirements in minds. When you scale up, you may still wish to continue by opting for a better size.
The unmatched energy in the startup world can only be further electrified by bring these young dynamic minds under one roof. For, it can be only spread further, adding positivity to your business environment. It may even have a domino-effect, generating many more young entrepreneurs who take the world by storm. However, at this time, it is really the passion and the energy which we wish to make viral through the benefits of a co-working space.