What Are Coworking Spaces and How Can They Improve Your Work-Life Balance?

Coworking space is an office set up where employees from various companies not in the same field operate from.

It is an arrangement that allows interaction of people from different lines of work. They not only share the space, but also the infrastructure, resources and amenities. This type of set up has more benefits to the workers and organizations. This article will share the importance of coworking spaces and give examples of them.

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Benefits of co-working spaces

Allows networking

Working from the same space allows you to make more friends and find people who will help you with new ideas about your line of duty. This is one way of capacity building which impacts positively on your productivity. By meeting with new people, you are able to form valuable connections that can go a long way in building professional alliances amongst different disciplines. For example when a company which supplies printing materials shares the space with the one which deals in events planning, there will be collaboration which will result in valuable professional relationship. Networking can lead to new partnerships between the  businesses if they have a common vision.

Reduced budget

By sharing the space it means the companies will feed on the same resources and social amenities. This in turn reduces the overhead costs. The savings can be used to improve on the operations and incentivize the workers. This is a benefit to you as a worker as it improves your personal life. If you are starting up a business, it will be ideal to share space with others as it will help minimize your budget and help you allocate more resources on expansion. Sharing on the costs reduces the need to allocate more funds on maintenance or the worry about expanding the parking space for your customers.

Improves personal growth

Coworking space allows you to plan your time well because of the flexible nature of the work. It allows you enough time to pursue your personal dreams while still fulfilling your duties. Shared space means the work is accessible at all times and you can actually improve on your creativity because of your interaction with people from different fields. Meeting them daily can help stimulate your mind to bring in new ideas. Collaborating with them means you can access mentorship from them at no cost and in turn cement your beliefs that will inspire your life improvement.

Creates a sense of belonging

When many businesses share a space together, a community is created and no one will feel lonely anymore. Besides access to different operations, the workers also get to connect with each other at a personal level. When you work in such a place, then you are assured of a communal feeling and shared dreams. Coworking space is like a sanctuary to the lone rangers. Working together means that in case of any challenge , you have a shoulder to lean on for support. The community takes care of the welfare of every member, this makes every employee feel valued and understood, since they have emotional support.

Allows flexible work schedule

Coworking spaces allows workers to work remotely. This gives them more time with their loved ones and thus improve on their wellness. Remote working gives an opportunity to workers from far flunked areas same chance as the ones within the vicinity. The company can create credentials for them to work from their location and cut on the cost of relocation. Also if your business involves travelling a lot, it will of advantage to share an office to cut on space rent and operational cost. This will allow a flexible schedule for employees as they will still deliver on their tasks without you straining your resources.

Access to more resources

Coworking space allows businesses to share resources like internet, kitchenette, printing or gym facilities. Since different companies will allocate different resources based on their type of operations, you will access all this because you work from the same space. This not only allows you the benefit of access but also using the same to run some of your operations. A shared kitchen means you can share on the cutlery, having a gym in the same compound means you can workout anytime you want without spending on transport. Having more resources around means the efficiency will improve and more so the turn around time. It makes work easier because the resources you need are readily available.

Increases learning opportunities

With different types of operations in the same space there is af ready room to learn new ideas. It grants you access to different opportunities which you can use to hone your skills. A shared office space means one can tap into the rich experience from different workers and improve on their abilities. Everyone you meet along the way has something to teach you, and these are the skills you can use to improve on you productivity. The same skills you will learn at no cost to you because you will be taught for free. The exchange of ideas increases on the efficiency of work and also experience of every worker.

Economy improvement

With co shared office space there will be competition between the businesses to deliver the highest results. This not only increases productivity but also improves on the overall surrounding economy. Also businesses will have more clients because of referrals and this means the place will experience increased activities. These businesses protect and support each other and this in turn helps to sets up a strong client base which means more revenue for the businesses.

Types of coworking spaces

General coworking space

Also called an open coworking space it offers a wide range of resources from the same location for everyone. It is suitable for companies with more workers and also those who don’t mind so much about privacy. This type allows more interaction between workers and customers therefore creating a wider network.

Virtual working space

In this set up, there is no physical office most workers are working virtually with the exception of an headquarters. The worker is provided with the credentials and will work just like the one in the office. It is mostly used by large companies when they want to reach more clients in different geographical locations. For example a company can hire a virtual assistant to help run specific duties for specific customers. This is easily done without the need for a physical office.

Private coworking space

Although it allows more businesses to operate from the same space, privacy is still held in high regard. This is for those who like to operate privately e.g. having a lockable cabinet or a dedicated desk. It mostly serves better people who deal with sensitive materials or information.

Specialized working space

This type of coworking space is industry specific, dealing with only one field. For example if there is need for a recreational facility the space can provide roller coaster services or bicycle riding for children and at the same time a gym or a library for adults. This will make sure that both ages have their needs taken care of and parents don’t have to leave their children and go solicit the services elsewhere. This industry related collaboration ensures like minded businesses partner together for the benefit of both. They both need each other to survive and therefore will support each other’s vision.

Conventional working spaces

As the name says, these spaces serve the people at their convenience. It is more suitable for those who want to work remotely or when you want to start a business. Besides not eating into your start-up capital, the space can still provide enough resources to run your business professionally at your convenience. For example, a freelance journalist who works for different media houses will only rent a small space to do his editing but will work remotely while gathering the stories. The space can just be a small office that may not cost much but will still provide resources like high speed internet and printing services.

Conclusion

Coworking spaces are beneficial to both businesses and individuals. For small start-ups, it will reduce the cost of setting up and independent office and its infrastructure, for with a small fee they can tap into the shared resources and amenities. Also an individual who wants to work as a freelancer or remotely will find it easier to rent a space to polish his work or serve his clients personally but most of the time he will be working outside the office.

The design of coworking space is done to benefit everyone therefore it suffices to say that the future of coworking space is bright. From sharing an office space, industry related businesses get to serve more people because of client referrals. For examples, malls are accessed by more clients because they know that what they need, they will definitely get. So if you are thinking of starting up a business, then coworking is the way to go, you will save on the overhead costs.