With the recent surge in supply of co-working spaces, more choices are now available for those looking to transition into a modern-day working environment. While this means a wider variety of options, it also gives rise to the question — how do you choose between them? Below are several other values we feel you should consider before making your big move.
The mission statement of a co-working space is often a good place to start. For example, at theDesk, we endeavor to create an inclusive community, not only among our members but also with our neighbors. Thereby, encouraging collaboration and promoting efficiency that allows us to thrive in an increasingly shared economy.
First, ask yourself — why do I want to be in a co-working environment? Before you even begin looking for a new co-working space, it’s vital that you understand why you’re moving. What are your business needs, targets and values? What is it that you want to achieve by being based in a co-working space? Is it the motivation to work in a more social environment or the hunger to connect with like-minded people?
Some people are merely looking for a rental space with comprehensive facilities that ensure cost savings, while others are hoping for a space that will facilitate their business growth. Through different social and business events, people are able to draw inspiration to innovate through meeting like-minded entrepreneurs. Meanwhile, some people desire a working space where they can openly share, encouraged to collaborate and have a sense of belonging. Understanding the reason behind your transition is important to keep in mind before looking for potential spaces to move to. Once you’re sure of your motivation, it then comes down to knowing what each co-working space can offer and if they align with your needs.
Your Needs First
The second thing to ask yourself is — what am I looking for and how will I achieve it by situating my business in a co-working space? If you’re looking for a cozy environment with ample social opportunities, co-work 1.0 is likely what you’re after. It’s a co-working style that puts emphasis on creating an aesthetic interior and leisurely atmosphere. However, they’re often more suitable for early start-ups and creative freelancers. If your primary focus is on productivity and collaboration to drive business growth, co-work 2.0 is the way to go.
Co-work 2.0 is a new trend that plays down lifestyle elements in favor of a blank canvas approach – meaning each member can paint what they wish, and everyone can benefit from the neighborhood community. This further contributes to the value-added to each member. For instance, theDesk encourages business matching and collaboration with members and neighbors so both can benefit from one another. We host a range of events to connect our members with their potential partners, clients and investors which helps drive social and business engagement. More mature entrepreneurs and well-established businesses should definitely consider co-work 2.0 instead of 1.0.
Discover theDesk: theDesk Story: Who we are & where we’re going
Now that you’ve sorted out your needs and decided between co-work 1.0 and co-work 2.0, you can think about the added bonuses each space can offer. The right infrastructure and amenities can be the catalyst for your productivity and business growth. Say if coffee is indispensable for you, a co-working space with unlimited drinks supply is probably going to be your cup of tea… or rather, coffee. If you work around the clock you’ll need a space that provides 24/7 access, and you’ll need meeting rooms and phone booths if you’re constantly meeting with different parties. All these bits of information can easily be found on each space’s website and doing your research can give you a preliminary idea of which co-working space is best suited to your preferences.
It’s also important to make a shortlist of suitable sites – so you’re not overloading yourself and bringing on information paralysis. Once you have your list, you should pay a visit to each site and get a feel of the co-working space for yourself. You’ll also want to make sure you have a selection of questions ready for the co-working team – this will help you understand the experience that the space offers. To gain a deeper insight, you may also want to search online about the people who you’re going to be working with, which may give you the necessary background on the potential for future collaboration.
Read more: Co-working trends 2019
After touring through all the potential co-working spaces, you should be able to make a final decision! Starting your co-working journey may be intimidating at first but, more often than not, people find it highly rewarding and regret not moving earlier. The fact that more corporations are transitioning to co-working spaces proves that co-working is indeed conducive to business growth and the key simply lies in carefully choosing the right space for you.
Our new flagship co-working and event space launching in Admiralty in Q1 2019, click here to check out the details.
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