Co-working spaces offer entrepreneurs and freelancers a space to get their work done, often boasting features such as open or reserved desks, internet access, audio/video equipment, meeting rooms, printing and faxing, and sometimes even coffee!
Is a co-working space for you or are you better off in a home office? Both offer pros and cons worth considering:
Networking
You may very well meet referral partners, collaborators, or even new clients right within your co-working space. Before you join a co-working organization, ask what other businesses you’ll be sharing a space with. Gauge if there are potential synergies. You might be dismayed to find that the place is full of competitors!
While networking is a vital part of running your own business, some entrepreneurs might find it distracting to be surrounded by other business owners while they are trying to get work done. Others may find it incredibly stimulating and like the accountability that working among others presents.
If you think you’d find better focus working alone at home, and have the discipline to motivate yourself to work diligently, you can always make it a point to attend a few networking events per month and then get the best of both worlds.
Professional Environment
Without a co-working space, small business owners can always bring their laptops to public libraries and coffee shops to get their work done for little to no expense. However, sometimes internet access and noise levels can be unpredictable when going this route, which can be particularly problematic if you’re trying to conduct a meeting with a client.
Co-working spaces often offer access to private boardrooms and meeting rooms, as well as other facilities that help your business make a more prestigious first impression.
Costs
Most co-working spaces will offer various payment plans and packages and you may be required to sign a contract. As with any investment, you need to do what is best for your business, which includes what is best for your sanity and lifestyle. Don’t forget to consider costs such as commuting and dining out. Are you better off investing the money in a home office setup? Keep in mind that what is best for your business will differ from another entrepreneur’s business; make the choice that is right for you!
Need a hand with your business’ brand? Call Kim Speed at Purple Moon Creative today!
