Saturday December 2, 2023
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The Pros and Cons of Working in a Shared Business Space

Our lives are pretty much the same! We have more and more responsibilities with each passing day, tighter deadlines to chase and working back till late – I do apologize for bursting the bubble but someone had to be the bad guy here! Also, not to mention that our work lives are a mess of their own. In fact, there is a lot happening when you spend more than eight hours in a day at your office, dealing with a badass boss, co-workers turning bae, unreasonable clients, and more than ever sometimes it feels like its a never-ending battle going on or we are running like a hamster on a wheel. So what to do? How to make these exhausting hours more fun and delightful? Have you ever come across the term co-working spaces? Well, if not then do read the following post that focuses on what is a co-working space and what are the pros and cons of working in a shared business space. So read away the following post if you are wondering if a co-working space is right for you or not. 

So what exactly is a coworking space?

After the COVID -19 massive pandemic, the concept of remote work and hybrid work seems to have increased to a great extent. Unfortunately, there are many of you who haven’t thoroughly understood what exactly a coworking space is. Coworking space is something where more and more people tend to work independently. Yes, this means they are not supposed to hail from the same company or work on the same project but all they do is sit together and make the work more fun and exciting. It’s way more different than a conventional workspace concept.

Of course, in the co-working spaces, you will find all the necessary amenities such as a coffee machine, cafeterias, play area (pool table, Air Hockey, Table-Tennis, etc), conference rooms and basic ones such as printers, Wi-Fi, etc but here’s where the difference lies, co-working spaces are way more flexible than any other workspaces. More or less, these coworking spaces result in cost savings, convenience, and flexibility, like none other.

Further below I would like to mention some of the common types of coworking spaces available:

  • Open workspaces – These ones are said when people from different companies gather and work on separate projects happily.
  • Private workspaces – This one is 360 degrees opposite from open workspaces. They are more like office suites mainly built for large teams, and most of the time is rented by a company.
  • Industry-specific – Again employees from different companies come together but all of them hail from the same industry. For example, you may find graphic designers, artists and videographers can work here under the same roof seamlessly.
  • Venture/Incubators – These are considered among the most selective coworking environments. The ultimate purpose of such spaces is to attract and fund relevant companies by offering them immense support and assistance to grow.

Some crucial stats that shouldn’t be ignored when it comes to co-working spaces:

  • The number of such spaces will double up by 2024 across the globe
  • Around 3 million coworkers have joined the revolution
  • Coworking and flexible office space comprise of around 36% of the market
  • New York and London are the top cities to consider

Further, I would like to focus on the pros and cons of working in a shared business space.

Pros and Cons of Co-Working Spaces

Pros

#1 Great Affordability

One of the obvious benefits or advantages of choosing coworking spaces is that it is extremely affordable. You see, leasing office spaces can be extremely daunting and expensive. Now if you figure out all the extra, additional and hidden expenses that make the space usable for your business then I am sure you will quickly conclude that this is a pretty unaffordable option.

Also, when you tend to rent a coworking space, it could be a less-costly option out there. It certainly varies in regards to price, depending on your location and the facilities you will be working for. In fact, smart business owners tend to look around for such affordable locations until and unless they find a permanent location to invest in. At least, by doing so their work-life is not disturbed.

#2 High-end Flexibility

More than offices, especially the conventional ones, are seen as boarding schools where we have strict rituals, not to speak apart from work, do not interact with other colleagues, be monotonous with the approaches, lack of creative ideation, communication and whatnot! Fortunately, coworking spaces do offer an amazing amount of flexibility in regard to the approach. It doesn’t matter whether you have to spend 8 hours or more, you will be able to do that willingly because you get the freedom to work in your own way. Here you will find a minimal or no deposit scheme, affordable charges per seat, no long lease requirements to flexible seating arrangements. Of course, if you want you can certainly start with dedicated seating but you can certainly change after a while and shift without much hassle.

#3 Quick Networking

One of the basic yet crucial phrases, we corporate slaves are asked to get well-acquainted is “Networking”. Networking is extremely important and when you are working in those boring cubicles, you have to come out of your shell and then put extra effort into conducting successful networking. IT service providers are using this environment to motivate their employees to work better. Well, when you are working in coworking spaces, there is no need for such efforts and getting out of your comfort space because meeting like-minded people and networking comes pretty naturally. And it’s definitely a perk worth considering.

Sometimes having just a casual chat or a conversation over a small cup of coffee can be so insightful. Now have you wondered why most of the time startups tend to choose coworking spaces? Well, all of them are in the same boat so during those crucial times understanding difficulties and challenges together is way easy and comes quite naturally.  Networking, and collaborating with potential clients are easier to be executed from a coworking space which ultimately helps you to increasing sales. You can also do casual market research which will be beneficial.

Now I can simply go with the advantages but now it’s time to focus on the disadvantages here.

Cons

#1 Absence of Peace

We all know that coworking spaces are pretty much occupied by companies irrespective of their size and industry verticals, so there are times when you might not be able to work without proper demarcations and in the end feel disturbed and distracted all the time. Now, this turns out to be true, especially for those who are in a creative field such as writing or marketing. I mean, of course, you won’t be able to write in a noisy space. In fact, several writers have vouched for the fact that they love coworking spaces when no one is around so just for the sake of some peace and concentration. Noisy ambience can be a disadvantage here.

#2 No Privacy

Another crucial disadvantage that must be taken into account is the lack of privacy. Privacy is something we all value and when you don’t receive that, especially for 8 hours a day, it can be quite a problem. Of course, you can think of having your own private cabin just to be extra cautious but still, if you prioritize privacy over everything else then coworking spaces are not for you!

#3 Lack of Customization

The next one in line is the lack of customization. No matter what, you have to be at peace with the decoration of the coworking spaces. Unlike the conventional ones, there is no scope for customization or decoration here.

So are really Coffee Shops Beating the Cubicles?

In a way, coworking spaces are better but they do have a fair share of controversies as well. So spare some time in figuring out what is the most that you want from your workspace and then make a choice! Again, coworking might not be the best or most relevant solution for everyone but it certainly can be the need of the hour for many, just figure out your needs and then make a choice.

I hope you did find the following post insightful and amazing. If yes, feel free to mention that in the comment section below!

Robin Williams

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