As an entrepreneur, developing a business off the ground on your own can be challenging and become quite lonely.
A popular solution to this is co-working spaces, offering entrepreneurs a relaxing office space to run their business and meet like-minded individuals.
Start-ups are four times more likely to succeed when working in a co-working space, according to research by Deskmag.com, and it seems entrepreneurs are taking note, as the popularity for this style of working is growing fast.
Jack Wratten, founder of bloom.space, a co-working space in London for science and technology start-ups to develop, shares seven reasons why entrepreneurs are opting for co-working.
- Experienced entrepreneurs know it's a hard not to try and do everything yourself when creating a startup. Relying on a well-run co-working space can take some of this burden away and provide a great working environment for one simply monthly fee.
- Experienced entrepreneurs also know it's hard to find the right team. Joining a co-working space will help you find like-minded and productive individuals to collaborate it.
- A lot of co-working spaces are themed, so find one that matches your business or is complimentary to it.
- Make good use of the services co-working places offer, go to the events and attend the talks - they provide you with some headspace to think about your business. And tell your hosts if they're not providing stuff that's of use - they'll want to know!
- Choose your space well - if you want somewhere with beanbags and free beer then go for that. If you want somewhere to be focused and think, then make sure you've found that too.
- Think about the future of your business. Is your co-working space linked to a bigger institution? Will that be useful to you in the coming months, for example when you're recruiting bright new talent, or accessing the latest thinking or expertise in your field? Try to think ahead and imagine your business in a year's time - what will you need then?
- Does your co-working space provide access to a network of spaces? Some do, and this can add huge value both by providing you with other work space and a wider network of collaborators.