7 Reasons Why a Coworking Space Makes Sense for Your Startup

7 Reasons a Coworking Space Makes Sense for Your Startup

by | posted in: Coworking Spaces, Indian Startup | 0

Work from home is not a long-term option for productive work, be it freelancers or start-up companies. As coworking spaces have been here for many long years from you and have shown multiple benefits, many startup companies are looking towards coworking spaces.

Here are a few big reasons why many startup companies look for shared spaces to initiate their business.

7 Reasons Why a Coworking Space Makes Sense for Your Startup

Cut Capital Expenditure

A startup business owner might have to spend everything from the pocket until the business takes the path of profits. Choosing a flexible working space over the individual building will cut a major share of capital expenditure as these spaces are available in flexible membership plans. The plug and play offices will save a lot of capital money, which can be used as working capital or shared as employee benefits to reach business goals at the earliest. You will get all in one price where the monthly rental is paid to using all the work amenities and usage of building space.

Network on a Whole New Level

Coworking spaces are used by diverse networks like freelancers, entrepreneurs, and other business owners. A startup business that initiates the business will have many network opportunities and a good turn for the business who want to build their network. The coworking spaces can turn to community junctures where casual chats can turn into business partnerships or work exchanges when needed. Many working spaces encourage hosting events to showcase skills and market business in the community.

Professional Business Advice

The shared working space can turn into a perfect spot to get the right advice for your start-up business. Choose the community of workers with varied experiences so that your business will get the right advice to handle the issue, especially during the tricky problems.

Also Read: 7 Useful Startup Tips for Women Entrepreneurs

Flexibility

Not all startup companies will spend huge deposits on hiring individual buildings to run business operations. Coworking space in Noida is available on a flexible membership basis. A startup business owner can choose the plans as per pay as you use basis. These workspaces are flexible enough to scale as your team grows.

Facilitates with all Amenities

As a startup business owner, you might not know your business’s future needs, but flexible workspaces do have an idea about this. They will facilitate you with all business needs that you don’t even know their usage until you encounter the business need. All the big amenities like conference rooms, the cafeteria will be available at a much affordable cost than you can think of.



Capture Untapped Markets

Though coworking space has existed for a long time, tier2 and tier3 cities are still to experience these types of ventures. Your business will turn into one of its kind if you choose flexible working space over individual buildings. You can easily capture those untapped markets and get that lion share in the market with minimum capital.

Location

It was a nightmare for the startup companies to get the business spot on the prime locality with their price margins. The availability of coworking spaces has made this possible. You can have a business set up in a prime location. This will make it easy to establish your business brand at the budding stage and make it easy for the employees to commute to the office easily.

BOOK A COWORKING TOUR

Here’s Why Enterprises are Choosing Coworking Spaces?

by | posted in: Coworking Spaces | 0

The way people work at the office today has experienced a big change today. Rather than traditional office cubicle space, people prefer to work in open space. This major shift in working is making the entrepreneurs choose coworking space over conventional spaces. Also, people-centric offices can affect office culture in many ways. With the greatest evolution of office spaces, both start-up entrepreneurs and big companies are looking at coworking spaces to improve the business’s bottom line.

Meet as in when needs 

Few entrepreneurs use the coworking spaces to meet as in when needs like conference rooms, meeting rooms. When the office buildings are not spacious enough to aid these big extra spaces in their building. Few use the flexible workspaces on a membership basis as a part of their employee compensation.

Offer flexibility employees

The hectic traffic on Indian roads is confining many employees to choose work from home options. That thin line of a difference is that they cannot draw between their personal and professional life, which affects their productivity. To avoid restraining employees to headquarters to complete their work, many entrepreneurs are choosing coworking spaces to facilitate remote location work assistance to employees so they can start the work with a fresh mind after they reach the office at the nearest reach to their home.

Decentralize employees

The covid -19 pandemic has, of course, set new guidelines for how businesses run their operations. It has set decentralization in motion. Many big companies are moving in the line of decentralizing employees to fight the covid 19 pandemics. They are reconsidering the logistics of the office set up to reduce the spread of germs and viruses. This is the juncture where coworking spaces have gained you huge prominence. The small working spaces can be sanitized at scheduled intervals effectively. You can find notices about when the last sanitization was scheduled at the workspace and take necessary measures to protect the team’s health before the work is initiated.

Also Read: Grow your business fast with Coworking Spaces

Scale-up business

If the start-up entrepreneur who is running the business in a small business and wants to scale it up. Choosing the coworking space would be a great idea because you can immediately employ the needed human resources without worrying about accommodating them. These spaces are flexible enough to stretch the space to accommodate your employee sizes. Many shared spaces now have brought covid protocols in place, so you need to worry about the office becoming clumsy on scaling up employees. They can provide ultimate agility for growing teams from designing hot desks to reserving many private offices. They can accommodate employees in a different structure that perfectly meets your office requirements.

Cut down capital expenditure

With the effect of covid 19, the income of many businesses has halted. Many businesses are trying to liquidate their capital investments and pushing it towards working capital. The flexible option available for entrepreneurs is a shift from traditional office space to flexible ones, which would leave a good deal of money in the entrepreneur’s pocket. You could manage your business with a share of expenditure and also meet working capital expenditure effectively. Many entrepreneurs now struggle to survive the fittest, reducing capital expenditure would be a wise option. Shared office spaces will handle all the needs of your office cost-effectively. The entrepreneurs using the shared space over traditional one could save 20-40% of their business expenditure.

Way of targeting new customers 

Apart from saving costs, entrepreneurs using the coworking space could benefit from getting access to new target customers. When your business is part of a flexible space that conducts related business, there is an excellent chance for your business to get exposed to new target customers.

Also Read: 7 Useful startup tips for women Entrepreneurs

 Major perk to boost employee morale

The corona pandemic has made work from home new normal for many employees today. It is unlikely that employees would rush back to a 9 to 5 job with a commute. To keep morale high and boost new employees’ joining when the office is located in the highly commutable area. It is also a good idea to offer flexible work timings to new employees to ease their way of doing the job until they resume normal.

Not a new trend

Shared space is not a new trend for big and small companies yet; it is the most desirable solution that the enterprise will be moving towards with the effects of covid 19. The entrepreneur using this wise solution for the employees in the framework of a professional office environment. 

The Office Pass (TOP) has coworking spaces in Gurgaon, Delhi and Noida and is ideal for small businesses and startups. To know more, reach out to us at 08999 828282.

BOOK A COWORKING TOUR

Coworking Space Rental Trends in Noida - The Office Pass

How will Entrepreneurship post-COVID-19 look like?

by | posted in: Entrepreneur | 0

Many people doubt how new entrepreneurship would look like post-Covid. There are many questions to be answered about the existence of entrepreneurship post covid 19.  We are now stuck at a juncture of not only overcoming the crisis effectively but also using the lock downtime constructively. 

Every crisis is, in fact, an opportunity. It will emerge new innovative ideas for survival. There are no more questions about market conditions. All the struggle now is to manage sales, supply chain, engage staff at the production line, and repay the suppliers.

Focus on the short term problems 

Unlike the past, the focus of entrepreneurs post-Covid is focusing on short-term problems rather than longer ones. They should work on addressing to achieve the right balance between the raised demand for production and a shortage of human resource availability. This could be quite challenging for many entrepreneurs. In turn, they should innovate and search for smarter ways to meet the production demands with less human capital. This innovation, of course, will give them long term benefits and basket more profits in the future.  

Also Read: 5 Reasons why coworking spaces are safer than traditional office during Covid19

Accept the change 

After the prevalence of the covid -19 pandemic globally,  it has inevitable for the entrepreneurs to accept the change. They have to accept that the previous business plan is irrelevant for its survival in present conditions. The entrepreneurs have to prepare a plan for the worst-case scenario. As an entrepreneur, one should analyze current business conditions, cash in hand, expected cash needs for business in the future, and expected income trajectory meeting the expenses aimed covid-19. 

Low external investment 

Many entrepreneurs, be it budding ones or the big ones now, are about to face an investment crisis. Don’t expect subsidy funding from the government in the near time, and even getting an angel investor into the business is quite challenging due to the economic crisis. The investment accesses for a start-up business is likely to be accessible only when the economy enters the recovery and rebuilding phase.

A smarter way to handle the small business phase is to shift from traditional office to coworking space in Noida, which would liquidate capital investments into working capital for the business while there is no compromise on the facilities used. The flow of working capital into the business will boost productivity in turn, and the business will survive an intensely competitive market.

Also Read: 7 Useful Startup Tips for Women Entrepreneurs

Use time effectively 

As peer to peer conversation is unlikely to happen for most businesses in the near future. Use idle time effectively. The entrepreneurs may have to train their marketing and sales team to new shopping methods of employees. Make them learn the address the changing trends of the customer, improve the product to meet the target customers’ demands. 

Imagine the future way  of working 

Aimed covid 19, every business is going to experience a new way of working. The office premises may have to incorporate a new sanitization schedule to combat the spread of the virus. These repeated sanitization schedules may increase business operational costs and disturb the work schedules, so; you may have to rework on timings to ensure the employees’ safety and well-being. You may have to offer flexibility in their work timings and places by offering employees remote location work over traditional office space. This may boost employee morale as they gain more flexibility to work and bring the right balance between personal and professional life.

BOOK A COWORKING TOUR

Opinion: Why We Need Coworking Communities

by | posted in: Coworking | 0

Opinion: Why We Need Coworking Communities

Covid 19 has buried many startup businesses. They are looking for a helping hand and some form of external help to re-flourish. This is the juncture where coworking spaces find light in the dark tunnel either with a mask or without masks.

Coworking spaces 

Shared working spaces are those plug and play work stations that enable both individuals and startup companies to space up their workstations for themselves or their employees. These ambiance workstations fuel productivity by increasing your attention to work. This is just one side of the coin, but these shared spaces are doing great, facilitating great community build up.

Coworking communities 

Being a part of shared working spaces not only helps you reduce the cost of business operations but also helps you build great communities. These communities turn to be right, helping hands during times of need. During these challenging times, you can extend help to others or get one part of the community. 

Also Read: Coworking Space for Women

The community gets a missing piece of the business puzzle 

The market for any business is enormous. There will always be a lost opportunity for any business despite great marketing. Here the communities in the shared spaces will cover up that missing piece of the business puzzle. The aim of entrepreneurs in the shared space is not to get good working space at affordable prices but to create a dynamic and enriching environment for all the people who work there.

Great way to grow business 

Communities in the shared spaces are overflowing with skilled people. They are ready to share their expertise with you. The communities in the coworking spaces are great places to exchange the needed expertise. There are chances that you get an excellent friendly discount as you are part of the community. Most of the people in the coworking spaces communicate through the intranet, and it is a great platform to spread the word about the work you do. These acts increase the chances of business growth. However, people prefer to hire someone who has been personally vouched for.

 Indulge Social interactions 

Working with groups contrary to working from home makes a lot of difference in the productivity of the person and health. Social interactions during work hours are said to bring a sense of community feeling, and people feel more motivated to work as a group. Having a sense of connection between the people eases the stress. Researchers say loneliness prone people to heart attacks and cognitive decline; socializing with others while you work will reduce your stress levels and boosts your motivation to complete the projects ahead of you by the deadline. 

Choosing the shared space 

Just random picking of the workspace cannot turn out to be a good choice for building the community that gives all the benefits you want. Don’t just lock yourself in the membership of the remote workstations. You have to check the workspace’s general profile, and if it has that vibe, you are looking to build a better network and develop a sense of community. The working space you pick should be able to provide more opportunities for your business. 

Also Read: Why Enterprises are Choosing Coworking Spaces?

 Develop internal and external communication

When you are part of a community with different people in a shared working space. You will develop strong communication, both internally and externally. This strong sense of communication you develop here will help you handle more of your business clients effectively and grow your business. Community and networking always stand the backbone in business growth and expansion.

BOOK A COWORKING TOUR