Mar 15, 2019 Blogs Co-working space

Why entrepreneurs & startups majorly hooked by the coworking spaces

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Coworking has evolved as a concept which practically holds a lot of possibilities and is more than just hiring a 50 square feet space of your workstation.  You initiate your search for a convenient, well-resourced and fully-serviced workspace while you are looking forward to adopting a coworking space but you end up getting much more, one of which is meeting innovative and passionate people who, in turn, enrich your mighty entrepreneurial journey and adds a lot of value.

The monumental work starts right after you join a booming coworking space as there are true chances of manifestation while the various stakeholders and investors come knocking to invest in your business. If you have your own office setup, you have to handle several petty responsibilities like paying the utility bills, get the malfunctioned internet network repaired etc. which would hamper your precarious meetings and agendas in your busy schedule. Sharing a common office having a world-class infrastructure with other startups and established businesses can add a lot of value and also can offer a quick fix. Apart from eliminating the undesirable administrative hassles, the bigger benefit of adopting a coworking space is valuable collaborations with the like-minded peer-groups.

Coworking spaces majorly work around the primary concept of leasing a world-class office that provides all the necessary resources and amenities to the individuals as well as groups of professionals, often on a very flexible subscription basis with no strings attached. There are also flexible work hours and these specific coworking spaces are responsible for fostering the innovation-inspiring office environment which eventually brings all the like-minded groups of professionals under a single roof. The primary idea is to successfully set up a completely functional plug-and-play office setup. When the startup entrepreneurs launch their ventures, they are in major need for exchanging ideas and fruitfully maintain the vast network of relevant connections. Coworking spaces also provide the convenient option of judiciously picking up the connections and also give them the option of picking up those contacts which are eventually bringing in a major value to the running businesses. The collaborating coworking offices have fairly large usable floor space and have several state-of-art facilities for users like private telephone areas or access to a gym. The management of the coworking spaces also organizes several networking events for the benefit of the members.

Are the coffee shops going out of trend?

The coffee shops and cafes used to be a favorite hangout for the startup entrepreneurs, freelancers and several other independent professionals but with the advent of the coworking spaces providing an absolutely creative atmosphere, the coffee cafes have just become old school. The coworking spaces have their own magic and there are ample chances of getting potential leads just sitting around the lounge or hanging out by the poolside.

As per the interviews from the startup initiators, they state that you can come across sharing a meal or play with a potential investor and end up crossing future partners in a coworking space.

Finding the right space

The coworking sector is undoubtedly witnessing a major boom and is catering to several industries with equal expertise. Several of the coworking spaces are also functioning as incubation facilities for the startup entrepreneurs and mentoring the entrepreneurs in the right way and also hooting several innovative programs on regular intervals. The coworking spaces are absolutely ideal for the startups and there is more of an atmosphere of collaboration rather than competition. The coworkers are usually very helpful & also very eager to share ideas which make the entire experience more fruitful for all the coworkers. The researchers have found that coworking spaces play a major role in bringing in the new and path-breaking innovations in the field of technology.

With the initiative of making the startups sustainable, it is crucial to involve the larger organizations in their growth story and there are certain programs which add value to the coworking spaces.

Working in the right sync

Coworking spaces are not about 9-5 working hours and we have been witnessing several path-breaking cross-collaborations that have been happening over the launches or even a game of snooker. The coworking spaces Mumbai have a mixed clientele which facilitates cross-collaboration optimally. The local coworking spaces in India are in the rise and the demand for these office spaces is rising exponentially.  More and more startups are coming into fore and adopting the coworking spaces and taking advantage of connecting with passionate & innovative people which are strengthening and enriching their entrepreneurial journey.