Many people choose coworking spaces for practical advantages like high-speed internet, flexible leases, prime locations, or stylish meeting rooms. However, there’s a significant and often overlooked benefit: networking. Networking goes beyond simply exchanging greetings during coffee breaks or swapping business cards. It is about building meaningful relationships while working in a coworking space surrounded by like-minded, driven individuals. Let’s explore how these spaces can provide substantial benefits, including collaboration, personal growth, and opportunities.

What is Hidden ROI in Coworking?

Returns are often viewed as measurable outcomes that have an immediate impact on the business, such as direct sales or instant revenue. However, not all ROIs are instant; some are less obvious and may develop gradually. These hidden returns can include spontaneous exchanges of ideas, organic conversations, or unexpected encounters in a coworking space that lead to long-term benefits. Tracking these returns on a balance sheet can be challenging because a friend might refer you to a new client, or an idea could suddenly inspire a new project or collaboration. Networking in these workspaces can lead to professional growth over time, which is difficult to track in numbers.

The 4 Types of ROI You Gain from Networking

Networking in a custom-designed managed office space involves more than just exchanging phone numbers or business cards; it focuses on building relationships that offer long-term ROIs. Here are the four types of ROI you gain from networking:

Business ROI

Business growth is the most effective way to measure the return on investment (ROI) from networking. This growth can come from referrals, acquiring new clients, or initiating strategic collaborations and partnerships. Relationships formed in a shared office space are fostered naturally, leading to valuable business opportunities, enabling regular interaction that builds trust and establishes credibility.

Learning ROI

A serviced office brings together individuals from various industries, each with unique experiences and backgrounds. Working alongside these diverse professionals can introduce you to new tools, innovative ways of thinking, and insights into the latest trends. You have the opportunity to share productivity tips and even receive mentorship from more experienced colleagues, which can help you enhance your skills and accelerate your learning process.

Emotional ROI

Freelancing, solo entrepreneurship, and remote work can often be challenging and may lead to feelings of isolation. One of the most significant advantages of using a plug-and-play office space is emotional support. You can discuss about a demanding client, celebrate your new deal, or just speak to someone over a coffee break.   This support system can motivate you to work harder and positively impact your mental health.

Brand ROI

Working in a flex space also increases your chances of building your brand. By contributing ideas, engaging with others, and offering assistance, people begin to remember you and your brand. This engagement enhances your presence and visibility within the close-knit coworking community, which can lead to better opportunities outside of that environment.

Why Coworking Spaces Make Networking Natural

Coworking spaces foster meaningful connections in ways that traditional offices often do not, as they typically confine individuals behind closed doors. These environments are designed to be open, collaborative, and social, not only offering appealing aesthetics but also featuring shared spaces like lounges and breakout zones. Here, people can sit, chat, and engage with one another, often discovering new skills or sparking interesting conversations that could lead to unexpected opportunities.

This is not a thought but a fact. According to Deskmag’s Global report, 79% of individuals working in coworking spaces reported an increase in their social networks, while 83% felt less isolated.  Similarly, a private enterprise study by the Kenan Institute highlighted that events and workshops in these coworking spaces provide significant opportunities for networking and learning from one another. Coworking spaces turn networking into a natural process, allowing people to expand their connections seamlessly.

4 Tips to Maximise Your Networking ROI

Irrespective of whether you are new to a coworking business center or want to expand your existing network, the tips below will help you do so comfortably.

Start conversations in common areas – Be proactive and do not wait for someone to approach you. While in these areas, introduce yourself and share details about your work and expertise to start a conversation.

Attend workshops and mixers – Coworking spaces often organise events and workshops for community building and knowledge sharing. Therefore, don’t just use these spaces for work, engage in events and broaden your network.

Share your expertise or ask questions – If you have a skill that can help others, do not hesitate to share. Your knowledge might help someone today, and could return to you when you need it most. Additionally, don’t be afraid to ask questions and collaborate with like-minded individuals.

Be consistent and approachable – Networking is not a one-day game, so you must be consistent in your approach. Also, if you have discussed an idea or project with someone, remember to be approachable when they follow up.

Conclusion

The primary reasons for choosing a Coworking Space in Hyderabad are not just high-speed internet, a convenient location, and ready-to-use office space. Many people overlook the most significant advantage of networking opportunities that can lead to potential professional and personal returns.  At iKeva, we specialise in creating workspaces that foster thriving communities, connections, collaborations, and growth. Whether you’re a startup, freelancer, or an established firm, we have hidden opportunities for return on investment just waiting to be discovered.