So, you got it all figured out huh? Your company, your name, your logo, your concept, your market, your demographic, your product, your mission, your goal yadda yadda. But, there is one thing you seem to be struggling with. “Where is my company going to be?” So you look up some office spaces in New York City and your jaw hits the floor. Turns out having your business here is just as expensive as, well, living here. Fear not, entrepreneurs, startup owners, and even season veterans who are trying to minimize their overhead, there is a solution for you.

A Coworking Space.

Now, maybe you’ve heard of coworking and maybe you haven’t. Think of it as a hotel for businesses. Companies large and small, freelancers, investors, basically anyone who needs an office, all come together under one roof and share an office space. Instead of a company having an entire floor or an office located behind a closed door, entire companies are working side by side one another, sharing a communal space where ideas can flourish and innovation can grow. Sites like Entreupanuer.com have already recognized an upward trend towards coworking. From freelancers to big corporations, more and more businesses are gravitating towards coworking.

In case you still need some more convincing as to why coworking will help you, and your business, here are 5 more reasons.

Keep Your Life and Your Job Separate

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The allure of working from home as lead many businesses to ruin like a siren’s song. Just think about it, never having to leave your living room to go to work, never being more than a stone’s throw from your fridge or your bed, how could that be so bad? Well, research is showing that keeping your workplace separate from your living space is vital to the success of your business. Being at home leads to distracting temptations that the workplace does not offer. Those distractions may seem like short-term luxuries, but end up being long-term determinants to your business. In New York City we all know there is enough to distract us. Even if you manage to muster the self-discipline to focus from 9-5, you may still be sabotaging your mental health. Your home should be a place of respite, a sanctuary if you will. By turning your home into a workspace, you bring the stress and pressures of work with you where you sleep and eat (and whatever else it is you do). This could lead to lasting, harmful mental effects such as depression, feelings of isolation, or even obsession with one’s work. Yikes

Meet New and Exciting People

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A key to business is successful networking. Well, what better way is there to network than having a building teaming with fresh new potential partners, suppliers, clients, and innovators sharing a coworking space? The importance of being surrounded by like-minded, goal orientated hard workers cannot be understated. The hunger for success becomes contagious, and being around others who succeed can be inspiring. I mean, this is New York City, you’re going to be coworking with some interesting people. To go off of point number 1, working from home can frankly, be quite lonely. Even if you are the only star of your show, it is nice to have someone to talk to at a lunch break, over a cup of coffee, or even simply sharing a smile in an elevator. It is that sense of comradery that we are all here to succeed and grow, that makes coworking a unique and enriching experience.

Make Your Money Go Further

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When it comes to businesses, small or large, new or old, they all have one thing in common, they want to save money. In New York City, that can be pretty tough. Well, there is no better way to do that (in terms of real estate) than coworking. When you rent an office, your monthly payment is not the only charge. Utility payments, installation of infrastructure and devices, even filling the coffee pots will put massive dents into your profit margin. Why bother with any of it when you have incredible coworking spaces ready to take on all that burden for you? Not only are you saving money every day, but you are in way more control of your destiny at a coworking facility. A standard office rental, much like a residential lease, will more than likely have you committed for at least a year. With a coworking space, most deals are month to month, or even day to day, giving you the flexibility and freedom to focus on your work, not where you work.

Supercharge Your Productivity

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More and more studies have been coming out showing that coworking spaces help businesses get the most out of their employees. According to Business.com, 74% of workers are more productive in a coworking space, 83% have a larger business network, and a whopping 93% have a bigger social network All the reasons above factor into this. The energy, mindset, or vibe a coworking space generates is often healthy and inspiring for large companies and freelancers alike. Being around success-oriented people will make you work harder, and produce even more amazing results. There is a sort of underlying accountability that being in a coworking space makes you feel. The people you’re surrounded with may not be part of your company, but they keep you company, and you won’t want to fall behind. After all, New York City is all about competition right? A coworking community can help build some friendly rivalries!

Take Yourself More Seriously

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Being a member of a coworking space will help impress your clients and business partners. It is a lot more professional looking to book a conference room in a coworking space (which most come free with a membership) than meeting at a coffee shop by your apartment. In business, appearances are absolutely crucial. You may be the best worker with the best company and best product but if you cannot portray that to your clientele, you’ll never get anywhere. That’s just the external perception coworking can give your business, it will also have internal benefits. Can you really say you’ve done your best work in your pajamas on your couch? Being a member of a coworking community will intrinsically make you take your work more seriously, and ultimately lead you into valuing your own time and skills more than you did before. Being able to tell your friends and family you work in an office space in the heart of New York City is always a nice little ego boost. You can explain to them what coworking means after!

 

I could go on about all the ways coworking can help optimize your business, but I think you get the gist. The only real question left is, when are you going to move into a coworking space?