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Atul Gupta

The author is Founder and CEO, CoFynd

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Coworking Space: A Tunnel to Success for Startups

Coworking spaces provide a dynamic environment for startups to grow and foster

While some startups begin in a founder’s living area or some in their garage, others prefer starting in an environment that can accelerate their growth straight away with the right resources, tools and community backing. Such a productive habitat are synonym of places called ‘Coworking Spaces.’ It's popularity has been on the rise, especially among the startups and entrepreneurs. Currently, more than one million people work in coworking spaces worldwide, and the number continues to grow. These collaborative workspaces offer its co-workers a wide range of world-class amenities at affordable prices, thus helping them save substantial investment costs. In India, these co working spaces have seen a prodigious increase in the past few years and turned into a successful venture after that. 

 So, how can a coworking space become a tunnel to success for your startup? Let’s find out.  

Networking Opportunities 

Meeting new people from various backgrounds is always a great way to grow and gain more knowledge. These shared space gives you opportunities to build connections with thriving communities of talented people. When many goal-oriented and accomplished people share the same space at work, there are chances to meet great thinkers, established business people and entrepreneurs. Also, through the informal exchange during a working day, new co-operations and partnerships can develop, which would otherwise not be possible.

Less office expenditure

Obviously, cutting expenses on rent seems like the perfect choice – especially when you have only just started a business as it is not always possible to hire a traditional office space owing to its high rentals. Establishing an office requires a lot of funds and can be a tedious task too. By working in a coworking space, your business can function easily without indulging in expenses that come with setting up an office. They allow entrepreneurs and young startups to work in a fully equipped office with inclusions of all the required amenities. Also, coworking spaces are based on pay per use model which will depend on per the number of seats you book.

 Collaborations and Learning new skills

Coworking spaces provide a stimulating environment for startups to innovate and harness their creativity. They also have a coworking community that’s been carefully cultivated to boost your chances of success. The regular community events and programmes conceived, designed and developed at coworking spaces facilitate their members in a way that they get to learn new skills. It can also help the members to collaborate with other people so that there is a constant workflow for one and all. You never know when the person sitting on the next desk can be your potential client.

 Enjoy personal space 

You must have come across the phrase- ‘All work and no play makes Jack a dull boy’. Well, that is true. In order to shatter the ice of monotony and boredom, it is essential to grow mentally stronger and to concentrate on work. And coworking spaces, unlike any other corporate workplace, help you get away from your desk and engage in recreational time to de-stress yourself from work. Activities such as table tennis, air hockey, chess, listening to music and a lounge area are great for an individual to relax between hectic working hours, which promotes balance in work and life. 

Facilities and Flexibility

Coworking spaces offer you an upgraded degree of improved facilities. These shared spaces primarily come with everything that you could possibly need to help you complete your work such as power sockets, functional furniture, high-speed WIFI connections and much more. Such range of facilities can be used to increase the production of your startup. Also, when working in a coworking space, you need not worry about the management of these facilities and can concentrate on your work solely and thus achieve more. A lot of coworking spaces also comes with private areas or cabins which give you peace and tranquillity, a chance to catch up on calls, or just simply work in isolation. This is something that coffee shops or working from home doesn’t really give you. Eventually, it’s the freedom and flexibility that makes coworking spaces beneficial.

 Motivating Environment 

The environment where we work holds utmost impact on the quality of work and also plays a vital role in fuelling creativity. Coworking spaces brings you out from the isolated environ of working from home and host a convivial environment for entrepreneurs by fostering innovation.

Choosing a coworking environment provides startups with the advantages of having a daily routine similar to when working in an office while providing much of the flexibility of working from home. In this respect, a coworking space can even offer the best of both worlds.


Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house

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