Traditional offices are not your only option when considering workspace anymore. In the past, running a business meant having an office. Leasing an office space is a huge expense and a long commitment which presents a barrier to entry for most businesses. The cost of having a private office at a suitable location affects every business decision from hiring to product development. This is no longer the case.
Business models have changed and the workplace has changed along with them. Operating with a distributed workforce is the new normal. That’s why so many businesses have turned to coworking spaces to significantly reduce their costs and allow more revenue to pass through into profits. Coworking spaces open up cash flow by costing much less than a traditional lease for a private office and saves business owners the time and hassle of securing a lease and building out space that fits their needs.

Placing new employees in a coworking space also allows you to be more flexible. You can grow at your own pace and have the freedom to scale up or down as needed. Utilities, coffee, internet connection, etc are all included in the membership fee at coworking spaces. These various services really add up and can result in huge savings when working out of a coworking space.
There are other benefits besides cost savings to placing your new hire in a coworking space. Coworking spaces attract a community of like-minded workers where collaborations thrive and new connections are made daily. Think of it as a permanent innovation incubator, where the enterprises of tomorrow are born and serendipity is a way of life. There are also several different membership options available at most coworking spaces to suit your needs and budget. Everything from part-time coworking to dedicated desks and private offices are usually available.
If you are looking to explore how coworking can contribute to the success of your business while reducing your operating costs, contact Outlet Coworking to schedule a tour and find out more about our membership options.

Goodbye 2019 and hello 2020!

Startup businesses and independent contractors need to find a balance between growing their business and controlling costs. Workers who have the option to work remotely are choosing to work from home instead of heading into a corporate office everyday. All of these groups can benefit from joining a coworking space! Coworking spaces provide the perfect environment of productivity, collaboration, and a sense of community at a much lower cost than traditional office space.

Here are 3 reasons (and there are many more!) you should consider joining a coworking space in 2020-

1. Community

Lets face it, working from home or on your own can get lonely after a while. One of the greatest benefits of coworking is that it allows you to interact and connect with some awesome people on a daily basis. Each day, you get to work alongside a diverse group of people–from entrepreneurs, to freelancers, to remote workers and even small startups. Coworking gives you endless chances to build relationships with game-changing people through time spent working in the same space (with community events and happy hours thrown in the mix, too). Rather than working alone from home, members of coworking spaces get to be apart of a collaborative and supportive community.

2. Productivity

Coworking spaces are designed to help their members be more productive. When working from home, I know I tend to get distracted by chores, kids, TV, etc. and while some of these things are technically productive, they aren’t the things I need to do to make money. I am sure this applies to other people who work from home also. Studies have shown that working out of a coworking space actually increases productivity. A big reason for that, besides removing the natural distractions of working from home, is having the energy of other people working around you who are also trying to succeed within their own businesses. Removing unnecessary distractions and being around other motivated individuals helps you to maintain your workflow and stay on task. Because of all the above, many employers have even started offering to pay for their employees’ coworking memberships, because they recognize the high value of the boost in productivity that coworking provides.

3. Earn More Money

One of the biggest fears people have about joining a coworking space is losing money on something they don’t need. The reality is a coworking membership is an investment that can help you earn more money than ever. Aside from the productivity gains mentioned above, another reason you can make more money is the possibility–and likelihood–of collaborating with some of the people you cowork with. When you’re working alongside other freelancers and individuals within different fields than your own, you gain the opportunity to organically offer your services to them and in return utilize their services as well.