Coworking versus Shared Office Space: Which is better for your small business?

By |2019-08-29T05:52:19-04:00May 27th, 2019|coworking office space, Shared Offices|

Coworking has been all the rage for the past decade, but there’s a lot that small business owners don’t know about the differences between coworking and shared office space facilities (also called office business centres or executive suites). The main reason for this confusion is that some large corporate chains of business centres and executive suites have started to claim that what they’re offering are coworking spaces – without really knowing what the original coworking philosophy was all about. When you look coworking up on Wikipedia, you’ll find this explanation: “Coworking is a social gathering of a group of people who are still working independently, but who share values and who are interested in the synergy that can happen from working with people who value working in the same place alongside each other.” Notice that the key words are “social gathering” and “share values” – meaning that true coworking is [...]

Will Flexible Workspaces Disrupt the Traditional Satellite and Branch Office Markets?

By |2019-09-16T14:30:27-04:00November 21st, 2018|coworking office space, Flexible Workspace, Shared Offices|

In our introductory post to Flex space solutions post “Flexible Workspace what is it and who benefits?” we explained flex space refers to office space provided outside the “conventional lease” markets. In Toronto, this includes coworking space, most business centres and shared office space providers. As corporate businesses learn more about how the flex space networking culture and entrepreneurial environment affects their employees and see the results, flexible workspace has the makings of becoming a long-term trend in this segment of the office space market. When you dig, you see there is far more driving the move to a flexible workspace by corporations than to a cheap office space. Why Flexible Workspace is Tailor Made for Satellite and Branch Offices To move employees from corporate headquarters to a satellite or branch office requires a lot of time and energy from managers and support workers to procure, furnish, decorate, and outfit an office space with […]

Shared Office Space Toronto

By |2018-10-15T23:23:30-04:00October 15th, 2018|coworking office space, Flexible Workspace, Shared Offices|

Shared office space in Toronto can come in several forms with a variety of payment terms, overhead and types of office space being shared. The list includes: Coworking office space Traditional office space where 2 or more businesses share the office expense Semi-private Office in a Business Centre where 2 businesses share an office Team office space is a larger office shared by several employees of a single business Flexible workspaces The Pros and Cons of Coworking Shared office Space Coworking office space is like a business centre that charges a monthly membership fee rather than a monthly rental fee. More networking opportunities are perceived to be one of the advantage, however, at telsec we have seen that there is also a sense of community and collaboration in our business centre. The biggest advantage that coworking provides is in the low costs and use of shared business equipment and support […]

Team space: The flexible hours office-space solution

By |2017-05-25T10:00:44-04:00May 25th, 2017|Shared Offices, Team space|

The office space buzz these days is for entrepreneurs and small business owners to look at coworking. But this is not the best solution for companies with more than 5 or 10 employees. The solution for some small businesses is to create their own private coworking office – called team space or open-office environments. This concept is not unique to small businesses. Even large companies like Google, Microsoft and Yahoo have embraced the concept of open-office team spaces. Business owners and senior managers want to feel connected to their companies’ day-to-day operations – and they find open layouts and team space helpful to that end. It doesn’t hurt that open layouts also maximize square footage efficiency. But the criticisms of open-concept team space claim a lack of efficiency when it comes to workforce performance. They also claim that research suggests employees simply can’t concentrate in these “collaborative” atmospheres. But when […]

Changing needs of coworking space in 2017

By |2017-05-23T09:22:57-04:00May 23rd, 2017|coworking office space, Shared Offices, Team space|

Do you know coworking? Coworking as you may know it is changing. The fact is, it might have already changed! The reason is that more an more people are looking at shared office space as an alternative to other commercial office options. This means that coworking spaces are getting bigger with more people using them. The other reason that coworking is growing is that more small business owners are seeing the cost savings of shared office space. They are seeing the benefits of the community involvement opportunities that come with the entire concept of coworking. The concept of coworking is entering a highly competitive phase, as more and more new spaces are opening up. But the fact that shared office space is being offered at lower rates than other office options is no longer enough to lure the smart small business owner. It is the sense of being part of […]

Adjusting to a business centre from a home office

By |2017-05-09T09:11:50-04:00May 9th, 2017|Business Centre, coworking office space, Meeting Rooms, Semi-private offices, Shared Offices|

That time has come that your business has outgrown your home office and you need real office space (even if it is shared or only part-time) that has a professional business address. Your best choice is a downtown office business centre that has several options. When we talk about office space options at a business centre, three primary ones come to mind: Private offices, semi-private offices and shared office space/coworking offices. For the purposes of this article, we will be talking about adjusting to shared office space/coworking offices – since that will probably be your best option when you first move out of your home office. Shared office space is also your best option in terms of flexibility regarding when you can utilize the space. Why? You pay only a small monthly fee for unlimited access during regular business hours. With coworking, you become a member and choose from various […]

When does a home-based business need a location?

By |2017-03-24T01:14:41-04:00March 24th, 2017|Shared Offices, small business advice, Virtual Office|

If you have to work for 80 hours a week just to keep your business afloat, then you are not profitable. Some entrepreneurs blow through the earliest stages of their company’s growth by putting all their energy and time into their businesses at the expense of their own health and personal relationships. Part of the reason for this is that they are working from home – and the line between home time and work time often becomes blurred. The fact remains that two out of three companies begin in a spare bedroom, garage, basement or sometimes even a bathroom (we did not ask about this one when we were told about it). Sometimes the choice of operating your business from home is taken away from you by zoning bylaws. Many cities and many counties have zoning ordinances that limit, to one degree or another, whether you can operate a business […]

Ten tips that entrepreneurs young and old should follow

By |2016-12-12T22:32:10-05:00December 12th, 2016|Meeting Rooms, Shared Offices, small business advice|

It is often said that being an entrepreneur means that you’ll often have to blaze your own trail and find you own way. Being an entrepreneur means not having career guides, counselors or road maps that will guide you from one step to the next. Sometimes you will just have to make it up as you go. For this reason, whenever possible, up-and-coming entrepreneurs are encouraged to seek out established entrepreneurs to request their help through mentoring. There are many established entrepreneurs who want to help the next generation of entrepreneurs who are seeking insight and insider education. Here are 10 tips that you will often hear veteran entrepreneurs share with the next generation of business leaders. 1. Keep your focus on the big picture. Far to often, fist-time entrepreneurs are driven to jump at that next big opportunity. The problem is that these opportunities may not be offered for […]

How to start a Consultant Business from home

By |2016-12-01T06:06:41-05:00December 1st, 2016|Shared Offices, small business advice, Virtual Office|

Setting up as a self-employed consultant has become a popular move for people in a broad range of industries and sectors. But becoming a consultant is not as easy as just getting business cards for very little money at Vistaprint or your local office supply store and saying you are a consultant. The very term consultant denotes someone who is authoritative and knowledgeable on a particular subject, and that experience and know-how are something that other organizations need and are willing to pay for. In fact, the dictionary defines a consultant as “an expert in a particular field who works as an advisor either to a company or to another individual.” You can find hundreds, if not thousands, of Internet citations and articles about becoming a consultant with a few simple Google searches. But knowing what a consultant is and why you should consider becoming one will not help you […]

How to start a home-based wholesale/manufacturer distribution business

By |2019-09-06T12:37:41-04:00November 29th, 2016|Shared Offices, small business advice, Virtual Office|

Before explaining how to start a home-based wholesale/manufacturer distribution business, it is important to explain what a distributor is. Basically, a distributor is a middle person that serves to move product from the manufacturer to the market. While some distributors are retail and sell directly to end users, others are merchant-oriented and sell and move products from the manufacturer to wholesalers, that in turn sell to retailers. The practice of wholesale distribution is a true buying and selling game and can involve risk. It is a game that requires good negotiation skills, a nose for sniffing out the next “hot” item in the particular category you are known for, and good salesmanship to find the right buyers. The basic premise is to buy the product at a low price, then make a profit by tacking on a low enough dollar amount that it still makes the product financially attractive to […]