Coworking places have become one of the biggest force factors for the startup industry in the last few years. Their rise has put a big question on the need for traditional office space. In this article, we will discuss the advantages and disadvantages of a traditional workspace versus a coworking place.
A coworking space is an excellent way for a startup founder to get his new venture going. He can focus on building his business rather than worry about the Internet connection or getting paper for the printer.
Coworking places help new businesses manage all admin work and free the founder from infrastructure management. A coworking environment is also a great way to find new talent or borrow one when needed.
One of the biggest advantages of a coworking place is the cost factor. A business owner can rent a room filled with facilities for as long as he needs rather than leasing or buy an entire office. This facility allows him to manage cash flow better.
Booking space in multiple coworking places also allows an entrepreneur to place his workers in different locations without investing too much into infrastructure.
But as a business grows and teams get bigger, it is time to move to a traditional office. Because, an office of your own can bring better coordination between teams, focus energies and free the staff from distractions. As business becomes stable, it is time to put a strong foundation in the form of a traditional office. It brings a stronger identity and establishes trust within the team, the suppliers, and the customers.
A traditional office also gives you greater privacy and confidentiality than a coworking place can offer. It helps to shed the image of a new organization and gives an air of authority to your venture.
A coworking place is an excellent option in the early days. But once you get big, get a traditional office.