05.02.2020

Five reasons why you should consider moving your startup to coworking space

coworking2
Estonia has one of the highest rates of startups per capita in Europe. According to Startup Estonia database, there are around 1000 startups in Estonia. Innovative business ideas float in the air here, and entrepreneurs are eager to experiment. At first, startups usually want to keep the costs low and develop their ideas at home offices. If there’s more than one person in the team, the usual way of working is from a distance with regular meetings and calls. It could be a good idea by the look of it, but what if you have to start expanding your team or inviting investors to meetings? On these occasions, you might need an affordable alternative - a flexible solution that does not include a long-term commitment, in other words, a coworking space. Here are five reasons why you should consider setting up your startup in a coworking centre.
Professional and supporting environment

As working on your business from home might sound great, it usually turns out to be the opposite. Many non-work-related distractions could shift the focus. Working from home for an extended period might have an impact on your mental health, as the risks for burning out might increase. Some people try to switch the environment and choose to work at coffee shops but let’s be honest, it’s is not ideal for planning, experimenting, nor brainstorming. 

Co-working centres are designed to help you focus on work, the only thing to concentrate on is your business. If you want to have a reasonable and flexible working environment, hot-desks or dedicated desks might be the most suitable solution for you. In addition to desks, chairs and WiFi, modern coworking spaces provide areas for breaks, a kitchen and meeting rooms. Last ones will come handy when you start setting up meetings with potential employees or investors. 

If you want to go fast, go alone. If you want to go far, go together

Having an office, even if it is just for you or a few teammates, has several benefits such as building motivation and effective teamwork. Collaboration has proven to drive success. Therefore, it’s smart to look at the options for networking and collaboration. Working together on the common goal at least part of the time has a significant outcome. 

Sharing the same space also results in better communication. Even though we have all the technology for effective communication, nothing beats the face to face conversations. People have the opportunity to learn from or to inspire each other, share their ideas instantly and learn new skills. 

Flexible and short-term solutions

If you have just started to work on your start-up, you usually don’t have any idea how it will turn out. Maybe you need additional team members in 2 months, maybe in 6 months time. And what about after that? Comparing to traditional offices coworking spaces are a way more flexible – you can rent a small private office, or a few hot-desks or dedicated desks for a month or two and then end or extend the agreement according to your needs. It keeps the financial risks and obligations low, and when needed, you can terminate your contract without any extra fuss. On the other hand, if you need desks for several people only for a couple of months, coworking centre can find a solution to accommodate the whole team. Or if you need a smaller private office as your startup is growing bigger and bigger, the centre can help you out. 

Network like never before

Coworking centres are “homes away from homes” not only for startups but for professionals from various fields. Advertising agencies, legal advisors, communication people, offices of international brands, fintech companies, real estate developers – these are just a few examples of community members in Workland across the Baltics. The pool of specialists and managers with different backgrounds and experiences provide unfathomable networking opportunities. You’ll probably meet your future customers, collaborators or entrepreneurs like yourself, all open to sharing the experience and ways of coping the challenges. E.g., if you need a copywriter for your website, you could find a suitable person during the lunch break at the lounge. 

Frequently start-ups tend to set up their office in coworking hub designated especially for startups. It’s a great opportunity especially if you’re just starting off as it’s good to have like-minded people around. On the other hand, it’s great to surround yourself with people and businesses a bit different than yours. Discussions with them could help to shift the focus to a bigger picture as they are not so “soaked” in the startup world. Also, you could test your startup ideas on people, who might turn to the end-users of your service or product.

As coworking spaces are the working environments for independent and responsible and self-motivated people, it is undoubtedly the right place to find a mentor, when one needed. When chit-chatting by the coffee station or attending the community event, keep an eye out for a mentor to guide you through the challenges. Or ask your community manager to put you in touch with the most suitable person in the centre. 

A lot of business-advice

In coworking centres, many different businesses operate under the same roof, which makes getting advice extremely easy. Whenever you encounter a problem you have a pool of people to ask for their point of view. Most of the coworking spaces also host at least a few business-related events a month including workshops, seminars etc. Make sure you find the time to participate.