Introduction:
What is co-working hub?
“Co-working” is a style of working that involves shared workplace but unlike typical work office where all employees are employed by the same organization or company. Those co-workers are not usually employed by the same organization. The shared work environment is not only limited to the physical workplace but there is a mutual belief in the core values of working in between its participants. Therefore, co-working involves the people who are working independently but who believe in the result of synergies such as collaboration, cooperation, coordination, and teamwork. On the other hand not every company would have the budget to open new office space in metropolitan cities where the cost is too high for setting up office space and infrastructure, so co-working space is a good option for them instead of investing money from scratch. Co-working spaces help to reduce the “Cost to the company” with a way of sharing common infrastructures such as Printers/Office cafeteria/Wi-Fi connections/Xerox machines/Tea or coffee machines etc. It helps the employees to learn the basic principle of life or business such as Teamwork, Togetherness, Kinship, and unity.
“NONE OF US IS AS STRONG AS ALL OF US”
#Realities and #myths related to co-working space.
However, there are many misconceptions attached to it. Let start with the brighter/ positive side first-
- It helps to build unique community –
- It helps to create more productivity.
- It helps to create business leads-
- Economic benefits of co-working-
- Networking opportunities-
- Avoiding loneliness-
- Flexibility-
In contrast to the brighter side, there are top 5 stereotypes attached to its darker side-
- Co-working spaces are only for start-ups/freelancers-
- Co-working spaces are full of distraction-
- Co-working spaces are unorganized-
- Co-working spaces are unstable and inconsistent.
- Looks unprofessional to business partners and clients.
Let it discuss them one by one in detail –
Pros (Reality)
- It helps to build unique community –
First and foremost principle of co-working space is to build community. Some time is working as a start-up or small business owner can become difficult when you don’t have a community that supports or helps you either morally or financially. Here, you can still work for yourself but not alone. You will daily meet new faces that will help you in your branding and business.
- It helps to create more productivity –
Creative workspace is having fewer office formalities and distractions. Always being surrounded by the hard-working professional will motivate you and helps you to achieve your targets on time with greater efficiency.
- It helps to create business leads-
Many co-working members and sitting tenants have noticed a significant increase in the number of clients due to the relationship they have established in their co-working space. It will help them to create business leads as a result increase in revenue.
- Economic benefits of co-working –
For running a freelancing and small business need an initial investment of building/ purchasing of an Infrastructure/Transport facility (Provided by some companies). In a co-working environment, we can save all these overhead costs by paying a small amount of money to the lenders.
- Networking Opportunity-
Co-working workplace helps to remove the barrier of loneliness; you will always be surrounded by the persons of different skill-set who will directly help you in your business problems, allowing you to “pick their brain” which will help you in long run of your business life. If you find the place with same as of your business profile, It will help you to handle your day to day business activities more effectively.
- Flexibility-
You are your own boss. There is no fence of timings and you can come and leave from your workplace on your own. There is no pressure on you for the completion of working hours. It will also help you to attain a work-life balance.
Myths related to co-working space.
- Co-working spaces are only for start-ups and freelancers –
There is no such rule. Yes, sometimes start-ups are the early adopters of the co-working environment because of their new brand and financial condition. They are not in the position of making an attractive office campus and infrastructure for their clients and employees. In the case of freelancing, Freelancers will receive the strongest type of advertisement till the time is “Word of mouth”. It will help them to get new clients as well.
- Co-working spaces are full of distraction-
This is a misconception among professionals who are used to the strict culture of corporate. Therefore the meetings outside the board room and the simple discussion on the work desk appears to them as a distraction, but in the co-working place, you will get a chance to discuss your ideas and pain points with your co-workers, as a result, you will get relief from your business obstacles.
- Co-working spaces are un-organized-
In co-working places, there are not strict and hard rules for coming office on time, you can opt. to work from home at any time you want/you can become social while working to the person sitting next to you/No problem while taking leaves, These are the some of many factors which will help the company to grow at a much faster pace. Therefore, calling unorganized to all the facilities of co-working space is totally unfair.
- Co-working spaces are unstable and inconsistent-
Most of the People want stability and consistency. There is also a myth that people generally come to co-working places especially to advertise their business and due to financial conditions only. There is no long term relationship between their members, but a carefully created working community cultivate meaningful relationships, growing their network and business organically.
- Looks unprofessional to business partners and clients –
Co-working spaces are specially designed to organize client meetings. Meetings rooms are well equipped with projector/sound system and comfortable sitting capacity and amenities to enjoy traditional food and tea or coffee service. Many clients are fascinated by this professional outlook of your work culture and become ready to sign a work assignment with you.
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