The idea or ‘trend’ of startups has now been around for a while, but in spite of all the advice, how-to’s, listicles available online; from startups taking off, shutting down, and surviving long enough to just about break even – there are still startups and people out there who are trying to muddle through the initial process of setting up and pursuing their own dreams.
Much like an aeroplane gaining momentum and putting in maximum effort during its take off, startups usually have a similar process that they have to go through – but some of the most important and critical decisions are taken at this point.
You’ve figured out where the gap in the market is, how your idea can fill in that gap and help out people and how to execute that idea.
Congratulations! “Well begun is half done.”
But the next important question is – where do you execute these ideas from?
Ideally, a start-up should transition out of collaborative place to an office in-tandem with the company’s growth and profit. But let’s be-kind-and-rewind a bit.
If you are a new startup that’s opted to work out of an office, then you have –
The Bad News
- Owning your own space, which leads to a lot of administrative headache for the startup. There are [a few advisory pieces online]. which go into the real nitty-gritties of what all is to be kept in mind while you are office hunting. From nosy landlords to noisy neighbourhoods, be sure to keep your checklist handy.
- Getting your own office will mean investing time and money into making it into the home away from home that you would like for it to be. Which means that you might be required to invest time and money that you might not have, into your office space. From getting the interiors done to extra light fixtures to creating desk space, all of it is vital and cannot be skipped.
- The time period at which an office space is acquired is a crucial point. According to OfficeVibe, “40% of the workforce will be freelancers, temps, independent contractors, and solopreneurs by 2020”, so if the entrepreneur decides to take up a big space with a not-so-big team, then the organisation will essentially go into loss.
The Good News!
- The bad news is also the good news here, which is that you have your own space. That sweet, sweet ability to have a home away from home, pursuing your dream till you reach it, is all yours.
- This is imperative as the talent that you size up and down in an interview, is sizing you up and down as well! The applicants usually end up respecting you more if you have a space to call your own.
If you are a startup that’s opted to work out of a co working space, then you have –
The Not-So-Good Bit
- Coworking spaces while conducive to generating a good working habit, might not be such a great idea when it comes to [conducting official calls].
- If your team is working out of a coworking space then they might have to adhere to certain rules which might not be what’s best for your team and their working style.
The Good Bit –
- A coworking space ensures that all facilities are taken care of and that you don’t have to worry about administration. Officevibe observed that 92% people are satisfied with their coworking space as you get access to free wifi, concierge, stationery etc.
- From a business perspective, not only do you gain a sense of healthy competition, but your productivity and success will also shoot up as the environment around you is simply buzzing with it.
- A chance to[ network] – since a coworking space would be equipped to hand out an ideal workplace to multiple startups, it becomes all the more easier to find like-minded people who can support and inspire you and for whom you can do the same. “91% have better interactions after coworking” (noted by officevibe).
It’s important to note that it’s not only just small and medium startups that are utilizing collaborative spaces, there are many big corporations such as Microsoft and Amazon, who are extending a part of themselves to collaborative, co-working spaces for their employees who might be travelling or to nurture young and new talent.
The bottom line is, if you haven’t gotten on the co-working bandwagon, then it’s time that you do. This is one of the key trends within the technological revolution that will take off – with you or without you. So why get left behind?
[myHQ workspaces] take up vacant infrastructure in the city (read: restaurants, cafes, office lounges, hotels or co-working spaces) and turn them into customized work zones during daytime to give you a perfect space to work out of. If you’re an entrepreneur, freelancer, blogger or just someone who loves to work out of creative workspaces every day or even if once in a blue moon, myHQ’s affordable plans and spaces at 50+ locations are best treats for you to dig into.
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