Tuesday, 7 February 2017

How to choose the Best co-working space for your Business?

Popularity of co working spaces is exploding as an alternative for locating offices of companies. A global co working survey in 2015 reported that around half a million individuals are operating from co working spaces and also that new co working centers are popping up in leading cities to meet the growing demand.
The number of global co working spaces has risen by 36% in 2016 and they are catering to a third more of people on the average, as compared to 2 years back. Since the availability of co working space choices have increased dramatically, companies, especially start-ups are facing the confusion on which space to rent or lease.
Here are a few tips to guide you for choosing the right co working space:

  • Identify needs and requirements:
Like all business decisions, the criteria for choosing an office space boils down to identifying needs, goals and requirements. What is behind the need for a co working space? What does the company hope to derive from using that space? Spelling out the priorities will help define the criteria or qualities to help select the space like co working space in Bangalore.
For example, if your goal is space to host lots of meetings, availability of conference call facilities and conference rooms may be the deciding factor. Sometimes the needs of your office may be as simple as availability of printer, high speed net connection or fax machines.
Make a list of top wants and priorities in an office. Use this list to shortlist ideal co working spaces and chose the option that most suits your needs and requirements.
  • Consider the culture:
Your list of priorities may be the amenities in an office space but you should also consider the office culture. After all, reports from all over the globe have revealed that work relationships matter a great deal in job satisfaction. This means that even if co working offices are non-traditional, yet work culture including work relationships, matter a great deal in this scenario.
As per studies, over 70% members of co-working spaces were proud to be part of the co-working community. Over 60% of members felt that other co working, members were familiar with them.
So it is vital to join a co-working space that matches the culture of your company. Consult current members to learn about its culture and find out if your personalities and working style fit with those of the space under consideration.
  • Consider locations:
A co working space may appear good on the computer or paper, but avoid taking a decision without checking out the physical condition. Conduct a tour of the office space.
Location of the space is also vital. Consider the neighbourhood: will it be advantageous to the business? Is it close to mentors and business partners? Are there higher education institutions nearby to recruit new talent?
Here again the company culture comes into play. Will the location be attractive for the employees? Is the location near to coffee shops, fitness centers and lunch spots?
  • Consider future needs:
A co working space might be sufficient for some time, but if the company expands, what will happen in the future? Therefore join a co working space with future needs in mind so that you are not locked up in a long term agreement.
With these simple tips, one can join the right co working space. This decision may help improve the fortunes of your business.

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