Why Coworking is the best option for startups

Do you know that coworking is the best option for a start-up?  If you’re an entrepreneur, app developer or an aspiring small business owner, then this information will be of great importance to you. Where we work is being redefined, work is no longer a place, telecommuting, freelancing and online work is on the rise globally. According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. Such failures can be mitigated when a start-up operate within a community of professionals in a coworking space.  The evolution of coworking–from a desk and a chair, to a collaborative workspace, will continue as companies and entrepreneurs adjust to the changes in coworking. Coworking will help businesses to become more flexible, collaborative and result oriented. Coworking in a communal based environment where you can collaborate with people can positively affect your business as an entrepreneur.

The Oxford dictionary defines coworking as “the use of an office by people who are self-employed or working for different employers, so as to share equipment, ideas, and knowledge. It’s about working from a location where already made office facilities are provided for a rental fee. Some coworking spaces operate on a ‘walk-in’ basis while for some; you have to register as a member with valid documentations. This is for background checks, appropriate identification of users and then for business to business connections. According to Deskmag, more than one million people will work in coworking spaces in 2017 and this number is likely going to increase.

Coworking should be the first phase of launching out independently as an entrepreneur, while for the app developer, freelance journalist, in-country business manager, using a coworking space will save you the cost of having to travels to meet a client at a location not too comfortable for you. Such long distance travels and cost can be averted if both parties agree to meet at a choice location like a coworking space. In a report by JLL, 42% of companies expect collaboration with entrepreneurs to accelerate disruptive innovation while 63% of companies say the main reason for using shared office is the ability to collaborate.

Coworking spaces attract a wide variety of people from all different sorts of industries and fields. You can guarantee that if there’s some part of your business that you’re having trouble with and need help on, the person next to you might have the solution. Why do you need a coworking space as a start-up founder or as a business professional? Here’s why you should!

A ready-made office

Coworking offers meeting-ready conference rooms and well-furnished workspaces

Coworking offers meeting-ready conference rooms and well-furnished workspaces

As a start-up business, you need not worry about getting an office. Using a coworking space will provide everything required for you to work and achieve your goals. Coworking offers meeting-ready conference rooms to well-furnished workspaces. You will also have access to complimentary services like printing, Wifi, scanning and photocopying machines. Do you need some refreshment too? You’ll get some especially coffee.

Being part of a collaborative Community

Entrepreneurs who use co-working spaces are more likely to be motivated

Entrepreneurs who use co-working spaces are more likely to be motivated

A recent study by Deskmag revealed that those who decided to work in co-working spaces were more likely to be motivated, have higher levels of interaction. Working in a coworking space brings together a community of professionals all working towards similar goals. Due to the communal nature of coworking spaces, business networks and friendships can be formed in the right mix of personalities.

Cost reduction

Coworking space will reduce startup cost for an Entrepreneur

Coworking space will reduce startup cost for an Entrepreneur

You can’t be talking of having a million Naira office when all you have is less than half a million budget for your start up business because using a coworking space will reduce overhead expenses for you. Becoming an independent business owner is never an easy task but it requires financial prudence on the part of the business owner. This is what being a coworking member offers since you can’t test the depth of deep waters with both feet. Coworking gives you the opportunity to leverage on an existing office environment, build a customer base, scale up and launch out fully while working from that same location.

Meet your clients

 Coworking space location brings you closer to your target market

Coworking space location brings you closer to your target market

Your choice of coworking space is largely influenced by its location due to the clients who form a major demographic of your target market. Using Lagos as a case study, if you’re interested in meeting clients in the advertising sector, Ikeja is your best bet. If you’re looking for clients focused on logistics and shipping, Apapa is good. On the other hand, if you’re into app development and social projects, Yaba might be your first port of call. When you’re expecting to relate with high networth individuals and investors who are keen on investing in your business venture, then using a coworking space in Lekki is your best choice owning to the secure and serene nature of Lekki and Ikoyi environs. It you’re looking at using a  coworking space in Lekki, then  Lagos Cowork is the best option for you due to its affordability and millennial work environment. To begin your first appointment as a user, send a mail to hello@lagoscowork.org

Image credits:Google

 

 

 

 

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