Co-working or “Collaborative workspace”, a concept born from a need to suit the modern day business professional. Much more often, modern professionals are working from home or on the road, limiting their ability to focus on important tasks and stay organized. Additionally, we are now a society of networkers, individuals connecting through social media for social interaction, quickly and constantly, it is only natural that we evolve our professional interactions to mimic the benefits we have attained from this renaissance of communication. We want more enjoyment, and we are starting to expect it of our professional careers as well, work life balance is a key to the success of a company these days.
Co-working spaces offer a great number of benefits to its patrons, one of which is a more fun and upbeat work environment. Many large companies pride themselves and put a great amount of effort into creating a culture within their organization, something that many small business owners miss out on, and something that has a great benefit. In an article in Huffington Post, companies with a “Fun” environment have 51% lower turnover, 10x less sick leave, 43% higher productivity, among many other staggering statistics.
So, how does a small business or one-person company gain the benefits that larger companies put forth so much effort to create, simply join a co-working space that offers the environment. Many co-working spaces are creating office spaces that are conducive to work, but also add perks like game rooms for afternoon distraction, after hour social events, dry-cleaning pick up, local restaurant discounts, etc. Not only does this make life easier on the modern professional but also some perks can help a small business owner network and gain traction in the market.
Gaining traction in the market or getting a small business off the ground can be challenging, resources are needed and sometimes less than easy to source. The co-working concept nurtures diversity in the workplace and helping other businesses with exchanges of services. The key to the success of an individual working in this new environment is utilizing the network of businesses available to them.
Another resource that limits many new startups as well as long standing companies is money, more specifically the cost of overhead to maintain an office. The co-working space takes the stress out of the traditional office lease. Many of the co-working workspaces offer a month-to-month agreement, far from the common 2-year commitment of a lease with a personal guarantee. Other perks include; Internet service, utilities, building insurance, common area maintenance, business printing and scanning capabilities, the list goes on. Along with “no commitment”, you can scale up or down your operations with ease, giving you the ability to focus on your business growth without the concern of having to move locations, transfer address, and the time and costs associated with moving.
Endeavor Innovative Workspaces is striving to embody the best of what a co-working space can offer with the flexibility to make changes in the future to best suit the wide diversity of businesses we will attract. There isn’t a company too small or too large that will not find something that will benefit them at Endeavor. We are looking forward to watching the network we are building, grow and thrive.