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10 IMPORTANT ELEMENTS OF A SUCCESSFUL CO-WORKING SPACE

10 elements for a successful coworking space

Choosing to work out of shared facilities can be based on a multitude of reasons like cheaper rent, better amenities, short lock-in periods, and a pleasing ambiance. Here co-working refers to an area where a common space of workstations is rented out, usually on monthly plans.

It’s a simplified and cost-effective alternative to traditional offices which suits freelancers and start-ups. A traditional office space with the same amenities as a coworking outfit will almost always be more expensive to set up and run. Shared offices can save you money in establishment costs, which you can then use to generate new business leads and income. So consider these 10 elements for a successful co-working space.

10 elements of a successful co-working space

BUDGET

Analyze your expenses wisely, choose an appropriate co-working space that fits your budget. Don’t think about this as an upgrade or downgrade, but as getting the best for what you want to spend seeing your monthly rent become a liability is the last thing that you would want.

With a co-working office, administrative support like electricity, high-speed internet, coffee machines is not something you need to worry about. You also don’t need to worry about investing in printers, telephones, air conditioners, etc. These are facilities that come with such co-working spaces and can be used when needed.

SECURITY

Anyone would definitely want their data, important files, and other things to remain safe, it’s better to look only for places with high-security standards. Look over if there is a security officer available or they are providing surveillance cameras. Inspect if they have anti-hacking software and procedures in case of data breaches.

ESSENTIAL EQUIPMENT

Make sure you look out for the essential equipment while you are picking out a working space, the basic essentials if provided will keep your budget untroubled. It must contain everything from basic furniture, internet connection, kitchen supplies, stationeries, power back up, ACs to printers, photocopy machines, computer software, storage equipment, and telephone systems.

LOCATION

Choose your location wisely, the first question to ask while searching for an office space to rent or sell in Bangalore is its location. Located in the prime locality which connects to the public transport easily will help the employees and clients while choosing the business. This plays a crucial role in your brand image not just in front of your clients and customers but also in front of your potential employees. It’s better to find it in the prime location which will be closer to the homes as well as to other places which are relevant to your business.

AMBIENCE

Satisfactory work-life balance is very important to the employees today for great work results. It benefits you to stick to a more efficient work schedule and improve your focus on work and develop a routine that helps in your productivity. You get a great opportunity to interact with others and socialize and build your network easily. Most of the employees feel relaxed while co-working as they get to meet people with different sectors which do not only leads to their growth but is beneficial growth to the organization as well.

CONFERENCE ROOMS

a conference room creates a quiet environment without distractions, which allows everyone in the room to focus. Not only that but you’ll be able to hear one another too. It gives you privacy unlike a public setting for your private and confidential meetings. It also gives you a sense of professionalism where everyone expects the meeting will be conducted in a professional manner which makes them understand it’s time to get down to business if they are too relaxed.

LOUNGE OR KITCHEN

Kitchen space or lounge space is the vital part of building a strong office culture within teams is achieved through socializing and strengthening professional relationships. If you’re unsure whether you will benefit from a kitchen space in your office, think of it from a different point of view. For example, kitchen space can be a great place to hold an impromptu meeting if other meetings spaces are unavailable. They’re both clean and comfortable. It is also essential to keep up with the basic needs of your employees.

FLEXIBILITY

While looking for a co-working space it is important to understand how flexible the place is in terms of timings and future expansions. Make sure to ask about a special hour or timings Another aspect where flexibility takes priority is workspace modification. A coworking space should accommodate your space expansion and downsize with minimal time wastage.

TEAM MANAGEMENT OR COMMUNITY BUILDING

Team building activities are one way to get your employees working together and to their potential, this can be done by appreciating your employees, encouraging their skills, and collaborating. The major benefits are they will improve their communication skills which will lead to an increase in their productivity. Team building activities will help in boosting their morale, to get them to know their colleagues and also their potential, it improves their physical health their mental health and also identify their leadership qualities.

WORKOUTS

Make sure you have some recreation time for your employees which will help them to improve their physical and mental health. It does not have to necessarily be a bodybuilding gym, but a rather run on a treadmill or a yoga session will help with the much-needed physical relaxation and get back to work. This benefits them with improved concentration, prolonged mental stamina, enhances their creativity, and lowers their stress.

To wrap it up you’re going to need to prioritize what you need from your coworking space to get the best return on your investment as coworking is the easiest way to reduce your operational cost. When working with other like-minded people and companies, you acquire so much knowledge and ideas that could apply when creating your next big business project. Switching your work environment is an excellent refresher for your head, and bouncing ideas with other people can provide a creativity boost.

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