If you had to pick from working at home, renting a traditional office and working in a shared workspace, which would you choose? This is a decision you will have to make if you are a consultant or an entrepreneur working on a startup.
Working from home might seem cheap but it’s not ideal; especially if you’re looking to expand or if you intend to enjoy having facilities like a meeting room for clients. Below are some of the advantages you enjoy when you opt for a shared workspace as opposed to renting a traditional office space or working from home.
Save More Money
A shared workspace allows you to cut back on what you would have spent renting a traditional office space. By default, a shared space allows you to pay either a monthly fee or on a pay-per-use basis. This allows you to make save substantially more. According to experts, you can actually save up to 50% of the total cost over a period of time.
The sheer fact that you are running your business in a shared workspace allows you to interact with different professionals. This naturally breeds easy networking, which your business will benefit from. Working in a professional setting with like-minded individuals can be very stimulating and engender growth.
When you opt for a shared workspace, it takes away the cumbersome task of buying expensive furniture and setting up your interior design. Putting a traditional office together can be quite expensive; especially if you want to set up an ideal office space.
A typical office should be structured to have functional phone lines, electricity and other amenities. In a shared space, you don’t have to worry about any of this. Virtually everything you need is provided to you.
Very few things will hurt you as much as renting a traditional office space only to find out that you need to relocate your business after 4 months. In such a scenario, your resources are tied down as the property owner will not be eager to offer you a refund.
A shared workspace cuts off such wasteful commitment. Instead, it gives you the flexibility to pay a monthly fee or on a pay-per-use basis.
Sharing a workspace gives you the opportunity to pick from a wide array of office options depending on what works for you. For instance, there are different membership levels, which include private suites as well as open working spaces.
With these options, you also allowed to upgrade or downgrade your plan at any point in time. In a situation where your business grows and you need more space, you can create the needed room with ease.
Final Thoughts on Shared Workspace
The temptation to work from home is real. However, it will come back to haunt you in many ways. For instance, when you work from home instead of other options like a shared workspace, your work-life balance will take a nasty blow. Same will happen to your privacy and it’s worse when you are working with a team.
There are several shared workspaces in Lagos; especially spread across Ikeja, Lekki, Victoria Island and Ikoyi.