How Coworking Spaces Benefit Entrepreneurs

You’ve probably heard of a little company called Uber, right? How about Instagram? Of course! It’s hard to miss these tech giants that permeate daily life. But did you know that these uber-successful, multi-billion dollar companies were born in cowork office space? Before you head to an high profile IPO, sell your startup for a fortune, or grow it to the point where you need to add to your team, office space can be a problem. Finding a space that both suits your goals and your budget is a challenge, especially in desirable (and pricey) areas, such as Tampa’s Harbour Island. Coworking spaces offer a viable – flexible – solution.

Coworking Spaces for Entrepreneurs: Solutions That Work for You 

As a head of a business, it is incumbent upon you to contain costs, enhance productivity, foster innovation, and juggle a myriad of duties and responsibilities. Cowork office space allows you to do this – on your terms. Benefits include:

1. Affordability 

Here is a list of expenses you need to worry about when you purchase or lease traditional office space:

• Building management
• Hiring custodial staff
• Purchasing office furniture and equipment
• Maintaining printers, scanners, and other essential equipment
• Setting up utilities, phones, and wifi 
• Hiring reception staff
• Paying for more space than you need currently and/or…
• Needing to rent additional space for large meetings
• Paying for shared spaces (lobbies, corridors, etc.)
• Paying the rent in a high-value market 
• Paying on a three, five, or extended year lease that may not suit your needs

Now here is a list of expenses you incur when opting for cowork office space:

• The cowork office space fee. Agreements can range from 18 months to month-to-month.
• Reserving a meeting/conference room when you need it (discounts available from services like Office Evolution)

You don’t even have to worry about buying coffee for the break room. All of the overhead that typically goes into office space can be redirected into hiring, product development, research, materials, travel…. Well, we’re sure you’ll find a use for those funds!

2. Location, Location, Location 

You’re setting up a meeting with a prospective partner, client, employee, or investor. Great: where do you meet? Giving out your home address (where you may well be running the company) or your local Starbucks doesn’t convey a professional image. However, giving out the address of a building in a bustling business center has much more cache. Coworking spaces give you the address you need to impress.

Further, there will be neighborhood amenities and services that are essential (e.g. mass transportation, rideshare, parking, restaurants, hotels, etc.) that make meetings easier, more convenient, and more pleasant for your stakeholders.

Speaking of location… if you want to explore a new market, you can forgo the expense of entering into a lengthy lease. Say you are from Atlanta and want to branch into South Florida. Try a cowork space for a month or two, explore, and then take the best next steps for your business.

3. Community, Contacts, and Connections 

Entrepreneurs, dreamers, risk-takers, and doers often thrive when they are exposed to fresh ideas and perspectives. Cowork office space allows interaction amongst diverse individuals from different backgrounds and industries. A run to the breakroom, for example, can result in a breakthrough when you are stuck or a new contact with knowledge/experience that you can leverage for your business (and vice versa – give as well as receive!).

You can build or extend your network with other professionals in your coworking space, collaborate, and… who knows… create a new product, service, or technology that leads to new opportunities. Even if you just bump into a “coworker” and exchange pleasantries, the sense of community is certainly conducive to productivity.

4. Productivity – and Fun 

It can be difficult for entrepreneurs who work from home to maximize productivity. There are so many distractions with which to contend. With a cowork office space, you do have the option to close your door and immerse yourself in work. You can also get up and have a conversation with another professional when you need a break, ask a neighbor if they will let you practice a pitch, or offer to proofread a presentation for a buddy.

All of this increases motivation and engagement – which leads to higher levels of productivity. 

It’s also fun. Networking aside, building friendships or enjoying collegial relationships with your coworking cohorts can increase your sense of satisfaction. A good working environment is critical for your success.

5. Flexibility

One of the biggest benefits of coworking spaces for entrepreneurs is the incredible flexibility they offer. As an entrepreneur, you need to be agile enough to move with the market, anticipate challenges, troubleshoot, and course correct on a moment’s notice. When you are chained to a five year lease, this is not easy to do. When you’re worried about making the rent on a 1000 square foot space when you only need a half that, this is not easy to do. When you are meeting clients at home while your dog tries to join in, this is not easy to do.

When you opt for professional, fully-inclusive cowork office space, this is easy to do.

Contact Office Evolution today at 813-437-5964 to inquire about our Harbour Island coworking spaces and the solutions that are right for you.