Start-ups can have a lot on their plates as they’re still trying to establish their business, so the last thing they need to worry about is managing office space. Coworking spaces provide the perfect environment for start-ups because they offer an experienced support system that will help take care of all your office needs.
With this flexible solution, start-ups have access to professional office space, while still being able to focus all their attention on growing their business – no office management required.
1. Networking Opportunities
One of the biggest advantages of using a coworking space is the networking opportunities it provides. As a start-up business, you will want to make as many workplace connections as possible – since you never know who will end up contributing to your success in the future.
Although making connections within the same industry is great, it’s also a good idea to meet people outside your respective industry. Expanding your network into different industries can lead to new opportunities to grow your business in ways that you wouldn’t have originally thought possible.
Coworking space gives you the opportunity to meet other goal-oriented professionals who come from different backgrounds. You will constantly be exposed to people with different skill sets and different levels of experience; meaning this could be the perfect place to find mentors or make new collaborations.
Since Telsec’s coworking space is located in the heart of Toronto’s Financial District, this gives you even more opportunities to meet like-minded business people who are looking to make connections.
2. Increased Creativity
Constantly talking to the same people or always sitting in the same room can cause a mental block – and when this happens we start losing our creative edge. As a start-up business, your primary goal will be expansion, so it’s important that you do everything you can to constantly gain new insights and keep those creative juices flowing.
Broadening the horizon of people you talk to can give you fresh perspectives; resulting in inspiration for new creative ideas that you can implement in your business.
3. Boost Productivity
As you’re meeting new people and gaining fresh perspectives, you will be more excited about buckling down and getting work done. When you surround yourself in an environment where everyone else is working hard to accomplish their goals, you will be inspired to do the same.
It is common for start-up businesses to begin their journey working from home. Working from home is certainly comfortable, however, it can come with a slew of distractions – whether it be roommates or family members dropping in, pets and children needing attention, etc. These types of distractions will take a toll on how productive you can be with your new business.
A coworking space provides you with an environment where everyone’s shared interest is staying focused and maintaining high levels of productivity.
4. Cost Effective
Cost efficiency is important for any business, but it’s especially important for start-ups. Start-up businesses who are still waiting to see returns on their investment need to be cautious before splurging on fancy new office space, and that’s where coworking space comes in. Coworking spaces give new start-ups the opportunity to access a professional office, without needing to spend a lot of money. When you choose a shared workspace, you save on the costs attached to traditional offices. Saved costs include:
- Long-term lease agreements
- Purchasing phone and internet services
- Paying for utilities (such as water, electric, and gas)
- Purchasing or leasing office furniture
- Supplying refreshments such as coffee and tea
Telsec’s coworking space is located in the Financial District, so you get to experience working in Toronto, without needing to pay Toronto rent prices.
5. Flexibility and Convenience
Traditional offices require a long term commitment – this means that even on the days you don’t need to come into the office, you will still need to pay the rent. This arrangement can quickly become an unnecessary expense for businesses that don’t need an office on a regular basis.
Furthermore, day-to-day business affairs can be unpredictable, especially when you’re first starting out. It can be difficult for start-ups to determine what their needs will be in the future, so why commit to a 2-year lease when you don’t know how large your business will be in 6 months from now?
These days more and more professionals are primarily working from home, but still require office space on an occasional basis. Coworking spaces offer businesses the opportunity to adjust their space to their schedule. This provides business owners the convenience and flexibility to access professional office space without needing to commit long term, or deal with the headache of managing an office; therefore having more time to focus on running and growing their business.
Amenities and Services
When you rent coworking space with Telsec, you can choose to rent by the hour, day, month, or anywhere in between. And if you ever require a private office or meeting room, this will be conveniently accessible for you – again, without any long-term obligations.
To add to your list of conveniences, we also offer these features:
- Training room and event spaces are available on a short or long-term basis
- Cafe area with tea, coffee, filtered water, and soft drinks
- Free and fee-based use of business machines and equipment, such as colour, black and white photocopier, network printer, scanner, fax, high volume/security shredder, and mass mailing machine
- Support Staff
- Shower facilities
6. Improved Work-Life Balance
Ensuring that you make enough time for family, friends, hobbies, and rest, while still maintaining a good level of productivity at work can be quite the balancing act, and yet, it is paramount in keeping a successful business. Managing a well-rounded work-life balance is crucial for avoiding burnout; as burnout leads to high levels of stress, fatigue, and a loss of concentration. That being said, maintaining a good work-life balance can be easier said than done.
Business owners who are just starting out may feel the need to work at 100% capacity in hopes to get their business off the ground. However, doing this could hinder the quality of work produced.
As mentioned before, working from home comes with a higher level of distractions. So by having access to a coworking space, you will be able to maintain a healthy separation from your home life and work in an environment with fewer distractions. At the same time, when we are constantly working at the office, our personal lives tend to suffer.
Coworking space allows business owners the freedom to maintain a healthy balance between their personal and professional lives by offering them to access office space whenever it fits their schedule.
Location is important, especially when you still trying to establish your business. Telsec’s coworking solutions provide you with all the benefits of a shared workspace, with the additional advantage of getting to work in a prestigious location.