Entrepreneurship is exciting but also challenging. When it comes to making a business idea successful, office locations play quite a critical role. However, independent offices in Delhi or any other metro city’s central business district are expensive and usually beyond an entrepreneur’s budget. The good news is there’s a much better alternative – a coworking office space for young entrepreneurs.
Did you know 10.69% of the total number of coworking spaces in the world are located in India? A global study also showed that India was the fastest-growing market for coworking. From being a more budget-friendly option to networking opportunities, there are many reasons why coworking space is perfect for a young entrepreneur. Here are some facts as mentioned below:-
Top 5 Reasons why coworking space is perfect for young entrepreneurs
- Minimal Need For Infrastructural Investments
- Building The Right Image For A Company
- Networking Opportunities
- An Exciting And Motivational Environment
- Making The Most Of Coworking Benefits For Entrepreneurs
1. Minimal Need For Infrastructural Investments
One of the key benefits of coworking for young entrepreneurs is that coworking spaces are ready to move into from day 1. As soon as you sign a lease, you and your team can pick a desk and get to work. All you need to bring along is your laptop.
The office space is already air-conditioned, furnished with ergonomic furniture and fully equipped with printers, a high-speed internet connection, etc. Shared office spaces for entrepreneurs also often have the equipment required for video conferencing and presentations. If you were to do your own office, all this heavy lifting would have to be done by you or your employees.
Apart from work-related infrastructure, employee needs are also taken care of with kitchenettes, coffee machines, drinking water dispensers, etc.
While you can use all of these facilities, the maintenance of these assets is handled by the space providers and hence not part of your responsibilities. As a result, your outgoing expenses are cut down and you have fewer distractions from working on your business idea.
2. Building The Right Image For A Company
It takes a while for a company to find success but to achieve this, they must appear legitimate and trustworthy from the get-go.
Clients are more confident of companies with offices and would give them their business compared to a company that works from home (does not have a formal office). They also wouldn’t want a company with an office in the dodgy side of town.
Similarly, office location also influences the hiring process – nobody wants to work in an office located in a dingy alleyway. While an independent office on the city’s main roads may be out of your budget, there are many shared office spaces for young entrepreneurs in good locations.
- Check the best location in Noida for a Coworking office
- Check the best location in Gurgaon for a Coworking office
Not only are these coworking spaces in better locations, but they also include services that make the company appear more legitimate. Some coworking spaces have a receptionist who can meet and direct all visitors.
When your clients arrive, you can book a meeting room to have a discussion in a private, professional setting. These little details go a long way in building a positive, professional image for your brand.
3. Networking Opportunities
Every entrepreneur knows that networking is critical to business growth. From finding collaborators and mentors to helping you leverage connections to expand your customer base, coworking for entrepreneurs opens many doors for networking.
Firstly, since everyone’s working on the same floor, meeting people is easier and you don’t always need to schedule an appointment to talk to someone. A chance conversation by the lockers can spark a new relationship. Coworking space providers also often organize after-work events like workshops, pitch sessions, etc. for their members to network.
This could have a direct impact on your business story. For example, entrepreneurs could include each other’s product links in monthly newsletters to their customer base and hence raise brand awareness without any cost. Similarly, a freelancer may be convinced to join your team or collaborate on a project with you.
4. An Exciting And Motivational Environment
Having an idea to start a business is the easy part. Committing to it and working on it consistently is where the hurdles lie. Young entrepreneurs who work from home or at cafes will attest that staying motivated can be quite a challenge.
A coworking space for entrepreneurs can help push past this. Unlike a café where people come primarily to chill, everyone in a coworking space is primarily there to work. You’ll find many other entrepreneurs working from the space with each of them at different points in their success stories. Seeing everyone else work keeps you motivated to work on your ideas and makes it easier to fight the temptation to binge-watch a series or take long breaks.
The coworking atmosphere is also beneficial when you’re faced with a problem that you can’t find a solution to. It’s easy to find like-minded individuals on the office floor who can brainstorm solutions with you. Thus, it keeps you from letting problems slow you down.
5. Making The Most Of Coworking Benefits For Entrepreneurs
As listed above, the benefits of coworking extend from allowing entrepreneurs to work out of prime locations at a more budget-friendly cost to opening doors for networking and collaboration. That said, there are many coworking units in the city and choosing the right space is important.
The Office Pass (TOP) has ready-to-move-in coworking spaces in Delhi, Noida and Gurgaon. All the units are located easily accessible and within close reach of metro and bus stops. They are secure, safe spaces. You can choose between a single hot desk for themselves or dedicated space on the coworking floor for their team. Plans are flexible and desks can be leased for just a day if needed. To know more, reach out to TOP at 08999 828282.