What are the pros and cons of a Co-working space
Coworking is more common as the costs of independent spaces are increasing. If you are interested in coworking spaces, below are some of the advantages and disadvantages:
- Support system in place: Starting your own company is not easy. While you are not usually by yourself when you do this, you do not usually have others with your objectives working in your office. A coworking space is a good place to talk about ideas with others, obtain advice, or just hear encouraging words from people like you.
- Networking: You always have the opportunity to network with others when you share your work space. You never know when a connection could lead to a new business opportunity.
- Learning: Co-working spaces are ideal for learning from others. It always is a good idea to surround yourself with people smarter, more experienced, and successful than you. You can regularly improve your skill set and gain wisdom and knowledge.
- Job opportunities: Many coworking spaces are not occupied by companies. Many of these people are doing their daily work there and you can find early-stage businesses who want to expand their team.
- Take away the loneliness of entrepreneurship: Many entrepreneurs, especially when they start, are working alone out of their home. This has many advantages, but many people miss the social interaction of a workplace.
- Office distractions: These spaces usually have private workrooms and conference rooms, you will work in a place that you share with others. Many of the private rooms may be occupied when you need them. Or, they cost a lot more than the standard package. It can be hard to stay focused with so many others working around you.
- Work hours: Most coworking spaces work from 9-5. This is not a problem for most of us, but entrepreneurs know that sometimes work needs to done outside regular work hours. These work hours may not work for some people.
- Cost: At first, these offices seem cheap, but when you start adding options, the price tag can start to mount. You may start to see the benefits of working out of your bedroom again!
Co-working spaces can be great, but you need to weigh the pluses and minuses before making a commitment.