How can shared workspaces help start-ups grow?

Shared workspaces are a versatile space solution that has quickly been integrated into our lifestyles, much like ridesharing. A shared workspace as the name suggests is shared by many people at different times. Any shared workspace today allows you to rent a private office, static workstation, hot desking or even custom build your workspace. This works wonders, especially for start-ups as they may not need a large office space throughout the year but occasionally would like to bring their entire team together. Shared workspaces are designed to accommodate a broader group of people along with offering  basic office amenities and features. 

Flexibility of using shared workspace for startups

Benefits of shared workspaces for start-ups:

1. Flexibility:
Even in a traditional 9 to 5 work culture everyone has a unique work routine. Some are early birds who prefer to start the day early which allows them to finish early, others are night owls and prefer to work through the evening.

Regardless of your routine, shared workspaces are open for long hours offering flexibility to pick your work hours. Similar flexibility is extended to the lease terms. Depending on your requirement, you can choose a monthly agreement or even sign a long lease (12 months or more) to opt for flexible desks or a private office to work from.

In addition to flexibility in your work routines and the memberships, shared workspaces give you the option to choose your work desk as well. It can be a dedicated desk that you know will be waiting for you anytime, a private office that you can personalise or the choice to pick and choose your view by either using a hot desk, a phone booth or a cafe.

Flexibility of using shared workspace for startups

2. Convenience to Use
Shared workspaces are extremely convenient on two fronts: time and set-up. These spaces are fully equipped to run an office, which means you don’t need to worry about setting up the space and can get to work right away. Also, with flexi-time, you can use the space as per your schedule and convenience.

3. Geographical Advantage
Most of these shared offices are situated in important business districts, which are well connected via public transport. The address adds prestige to small businesses and starting entrepreneurs. Furthermore, the proximity to commercial and leisure centers is among the other attractive benefits.

4. Community to network and connect
Your next customer, your future business partner, or even your next employee could be just across the hallway from your workstation!

The professional community is perhaps the biggest benefit of the shared office space. Shared workspaces provide networking opportunities daily like no other. As a coworker, you are part of a large network of entrepreneurs, business people, marketers, lawyers, accountants, creative technical individuals, artists, etc.

You can meet and network during coffee breaks, lunch hours, and learn. Some shared workspaces even have networking events to build a stronger professional community.

5. Amenities
Shared workspaces are pre-installed with all the standard office equipment and amenities i.e., fax machines, printers, projectors, storage lockers, meeting rooms, reception services, phone booths, etc. This means, as a start-up, you have one less thing to worry about and can focus more on your business.  For example at Dextrus, our focus is always to add value beyond just a desk. We do that by offering robust services and top notch tech support that ensures a seamless day at work.

Benefits of working at Dextrus, shared workspace in Mumbai

6. Ample services that otherwise are a cost and added work
Apart from office supplies, other services like pantry/kitchen, coffee machine, microwave, or a fully stacked fridge add to cost and work. Many people prefer to have a cup of coffee or tea to start their day. Or you may want to offer a drink or some snack to your visitors after a long meeting. These extra costs are covered in the cost of membership at a shared workspace.   

7. Reduced Costs
Rent is just beginning! There are many additional costs i.e., such as furnishing and ongoing running costs like internet, cooling, maintenance, electricity, and water. To top that, many commercial spaces will ask you to sign contracts that run for several years. For businesses that are just starting shared workspaces offer a much affordable alternative with flexibility on lease and space.

8. Scalability
For start-ups, the number of employees can vary every month. Depending on your product/ service, not all your employees need to be in the office at all times. Although, you might want everyone to be at the same place for a meeting if required. A shared workspace allows you to easily scale up or down depending on your business requirement. 

9. Attract people and talent as it emanates a certain vibe and culture
Let’s be honest, even if you love your co-workers, seeing the same people every day or every week for years can be very monotonous. But a shared workspace is a different vibe altogether!

Anyone who’s ever worked in a start-up or is an entrepreneur themselves knows how invigorating it is to be close to intense drive. Hustle and creativity are contagious and tend to attract similar highly ambitious people. Shared workspaces can be extremely effective incubators. No wonder, companies like Uber, Instagram, Ofo all started in coworking spaces.

Work environment and culture at Dextrus workspace

This modern alternative to traditional offices has multiple advantages. Apart from being an affordable alternative, shared workspaces have been shown to improve employee productivity and creativity through collaboration. In fact, the Harvard Business Review suggests much higher levels of job satisfaction among the employees from shared workspaces when compared to the employees from traditional offices.

What are your thoughts? Tell us in the comments section below.

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