India Accelerator

IA News

BLOG

Why Coworking is the Way To Go

Coworking is the best way to go for any entrepreneur when building a startup. Here are a few reasons why.

You can start out solo, or with a co-founder, or maybe a team of few employees. You can start out of your dorm room, make a home-office or sit at the nearby coffee shop. But you’ll surely need to scale up sooner or later, as you start to take your business more seriously and so do others. When you are at the stage where you are sure about making it big, that is just the right time to move to a coworking space.

Wondering how much would it cost you?

It’s no secret that while starting out on a new venture, there are gazillions of major and minor costs involved, even though you might be operating at a small scale. Hiring workforce, shopping for supplies, designing blueprints or prototypes, paperwork, and all the other formalities and procedures add up but none of it usually exceeds what it takes to rent or buy a space for your office.

When you choose a coworking space, you don’t only save on the cost of renting an exclusive traditional space, you also cut down on the cost for office furniture, electricity, upkeep and maintenance, and other things.

Shared amenities and resources, like wifi, printers, coffee vending machine, access to startup community events help you set aside more funds for business development and marketing and save you from worrying about looking after all of it.

Cut the clutter and grow faster

Housing your startup in a coworking space allows your to enjoy the mobility and liquidity to alter the dynamics of your business without having to worry about the commitments that tag along with a long term contract. You won’t be the one counting days until the 3-year lease on your office space expires so that you can finally move out to a bigger and better space.

Coworking spaces are usually able to accommodate growing needs of startups, which is mostly expected and welcomed as a startup’s growth is synonymous to the growth of a coworking space, thanks to the incubation programs or the accelerator programs and the never-ending thirst for networking opportunities.

If due to circumstances, your current coworking space is unable to fulfill your needs, your can vacate the space within days or weeks.

It’s a dense pool of talent and you can’t swim through without bumping into awesomeness

Getting to meet new people and knowing their story will always be better than evaluating and judging a person on their CV. Numerous companies have found their desired co-founders and employees in the cafeterias or lounges of a cowork. It is a wonderful experience to work with people whom you already know, like and have trust on.  

There are also endless instances where business owners were able to find their customers or partners by simply asking them if the latter need help with anything they can provide. This is also the key to building loyalty that has high chances of generating word of mouth publicity.

As you build your startup, a shared office space can unlock avenues that would remain unheard of inside a closed, exclusive, and traditional space. Coworking is fun, economical, flexible, and scalable, so why not?