WHEN IT'S TIME TO MOVE YOUR COMPANY INTO A COWORKING SPACE
Some of the world’s largest companies come from humble beginnings. Whether it’s Apple, Google, Amazon, etc., some of the most respected companies started in a basement or apartment and used their vision along with their tenacity to grow into massive organizations.
If you’re an entrepreneur that has recently validated your product (or service), you’re probably about to start hitting that growth hockey stick. Meaning that you’d want to start adding members to your team that will help bring more value to your business and create the culture that’ll define your organization.
Before you start thinking about investing in a swanky new office space, it’s best to play it safe while you grow and invest in using a private office in a coworking space to house your business as you’re growing.
The Indicators That It’s Time to Move to a Coworking Space
While working from home might work out in the early days, it’s best to avoid becoming fully remote during the company’s first years — there’s a chance that it’ll make some employees feel isolated and disengaged early on.
It’s best to keep things flexible as you’re building out a company and creating culture. It’s best to have a basecamp where people will feel welcome and motivated to show up every day.
Don’t know if it’s the right time? Here’s how you’ll know that it’s time for you and your team to set up shop in a private office space:
When you or your team aren’t meeting deadlines.
When innovation and ideas are stagnant.
When your company has a lot of clients and leads that want to meet in-person.
When you need to hire more employees.
If your business is on the verge of scaling to a point where you need a more professional environment, it’s worth looking at a space. You can even try a couple of places out before moving in. Try to look into having a dedicated desk and get a feel for the environment, and see if it’s the right place for you and your team to working out of.
How to Find a Coworking Space that Meets Your Needs
So, you’ve tested out the waters and have finally committed to move into a coworking space. Picking the right one will be a decision that will affect you and your employees, so it’s worth taking a step back and weighing the pros and cons out.
There are a couple of things to take into consideration, but none is as important as location. The location of the shared office space will determine how much value you’re going to get out of it. Do research on all the different companies in the area, especially ones that can be future clients, and it could be the low-hanging fruit for your business.
This one is for both employees and c-level employees; picking a place that already has a great community. Selecting a space that has different people from different backgrounds will help introduce people to new ways of thinking and have conversations with individuals that will help your team bust out of the silo.
And if your employees are a bit hesitant to meet others, see if the space offers different events. They might have speakers that could help them with their careers.
There’s also the case for making sure that the work environment is adequate for your company. If you’re a company that relies on employees’ creativity, it might not be best to go to a coworking space that has bankers and lawyers.
It’s best to pick a location that will match your employees’ energy and help you build a strong culture.
Choose a Coworking Space to Build Company Culture
According to the Harvard Business Review, employees from a company that operates out of a coworking space compared to those with remote employees or traditional office spaces, tend to feel more inspired and have a greater sense of fulfillment.
Simply put: working out of a shared space improves morale and engagement. This is mostly because individuals feel prideful about their company, and love to discuss how their team’s hard work has paid off. Whereas companies in a traditional office space make employees feel like they’re “showing off” to those within the organization.
So while the amenities and communities in a shared space are nice, it’s best to choose a location with an atmosphere that wants to see your business thrive.
On another note, if you’re a mission-oriented company that lives and dies by the core values the founder/s have set, choose a space that will give you the privacy and freedom to do things for employees. So, pick a place where you have the ability to throw internal events — like a game night, team meal, an in-house happy hour, whatever the case may be, having the ability to do nice things for your employees is going to help retain and attract talent.
Looking for a Coworking Space in South Florida?
Minds CoWork is more than just a coworking space, we’re a community of entrepreneurs, business owners, talented individuals, and leaders, that want to make a dent in the universe.
The companies that work at Minds are some of the most innovative in the Wynwood area and are making waves in the startup scene in South Florida; making it an ideal location for a company that wants to have a spot in a popular neighborhood that’s become a business hub in South Florida.
Reach out to us at info@mindscowork.com and we’ll give you a tour of the space.
