Have you heard of an office space where you pay minimum rental for fully furnished office facilities? This kind of office is highly suitable for new start-ups and freelancers who need a space where they can call it their office or nest, or hub. Instead of spending huge amount of money paying for an office which you could hardly use, now one have an office space, shared office facilities and “ready-made” co-workers in a shared working environment known as “Coworking Space”.
To read more about Coworking Space as a Third Generation Workspace, please click here
Here are 4 Reasons Why It’s Worth Joining a Coworking Space:-
1. Your Productivity is Top Priority
The #1 reason you should consider coworking is because you want to be productive in your business. You know that you have only limited amount of hours per day and you want to maximise your productivity during your working hours. The problem with being “the own boss” is that there may not be fixed timing as when to work and when not to work… and most of the time could be idled away doing unproductive things such as playing games, sleeping too much, driving and getting stuck in traffic too often, etc.
A coworking space can be treated as your own office where you set the number of hours you come into the office to work. You now have at least a space where you can “report” to work, sit down and check off your list of things to do and call it a day.
Here in The Success Factory, we believe that everyone works maximum 8 hours a day and call it a day. If possible, just do 4 to 5 hours of work and spend the rest of your time with things or people who are more important – i.e. family members, your health, your spiritual calling, your continuous learning, etc. We do not encourage you to build a business at the expense of losing all those things that matter the most.
2. The Money You Save in Your Business Goes a Long Way
When you are just starting out, always look for ways to keep expenses low while keeping profit high. What are you going to do with the “extra money” you have monthly? You re-invest them back into your business or manage them so they can keep growing.
As you are starting out, there could be many hidden costs which you may not know about. Every dollar and cents you could save operating your business can be used to pay for such costs. The most important focus you need to put is to grow your business so that your revenue can take care of your expenses and leave some profits for you to reinvest. And by the way, making sure that you pay yourself a monthly salary is an expense.
I have made the mistake of mis-managing my own money and messing up my accounts, I hope that you will not do the same thing. If you are like me who prefers not to manage your own accounts and have no knowledge about accounting, here is where coworking is an added bonus…
3. You Have Coworkers Who Know Things You Don’t Know
There is no way you are going to know everything in order to start and run a business. Each of you have your own strengths and weaknesses – and different talents, skills set and interests. It is really tricky when it comes to doing everything on your own. You are your own CEO, CFO, CMO, COO and more! There is always a reason big corporations have specific people for specific jobs.
A little bit about my experience in The Success Factory:
“In a coworking environment, we work with people who know things we may not even know. For example, there are 2 programmers who write codes for websites and mobile apps; 1 guy who has experience managing teams; 2 guys who know how to solve technology problems when it happens and a girl who used to be an accountant and auditor. Whenever I need help in some of the things, I just ask them!”
How easy is that? You automatically and instantly have people who know how to solve your problems!
4. You Are Part of the Team
One of the factors that keep you coming back to the office is because of the relationship you build with each other. In a way, you make the office environment a livelier place to work here because of you. Of course there is the Code of Honour that keeps us all together as a family instead of just “co-workers”.
You work better when you know you are part of the team. You may be building your business on your own, but you have a team of people who are there to share your wins and learning lessons should you ever need them. Your competitors can knock you down easily if you are all one-man-show. However, they will think twice if they know you have a strong backup team to support you.
Confession: “My co-workers and I, not only we worked as a team to make sure other people know that we are not alone, we keep each other going strong.”
A coworking space is an open office space where individuals work together. We believe in sharing resources as one of the most cost effective and environmental friendly way to carry out our work. A coworking space is a space that is not individually owned by one person, but by a team of awesome entrepreneurs.
Have fun coworking!!! (Have you started yet?)
From the desk of,
Founder of The Success Factory
The Success Team
Energetic bunch of entrepreneurs who cannot sit still!
Contributor. Cynthia is a Public Speaking and Communication Trainer. She is also the founder of The Success Factory.