As the darkest days of COVID-19 seem to be in our rearview, the idea of joining a coworking space can once again begin to be an option for those who want to start a business, have a business and looking to expand, or just for someone who works from home and is looking for a change of scenery. For those reasons, as well as a variety of others which we will discuss here, coworking might be your next step in becoming a full-fledged entrepreneur.
One of the most important reasons someone might join a coworking space is the flexibility of a short-term lease. When starting a business, we always have the highest hopes; unfortunately, many small businesses fail. While we do not like to think about that, but it could be intimidating to lock in to a rigid 3- or 5-year lease when you are a start-up in research mode or in your first round of funding. Most coworking spaces have month-to-month options or leases that last less than a year, giving you and your business options to scale and the elasticity to roll with the punches in your burgeoning business.
Another plus of the coworking space is the diversity of the community. Sometimes when you are working on a project, it is easy to get tunnel-vision, and when inevitable roadblocks arise, it can be vital to get different perspective. Having a variety of business types under one roof creates the opportunity for a collision of different points of view. Moreover, it also gives you in-house options for projects that require expertise outside of your knowledge or comfort zone. You may have an impressive product that no one knows about, or maybe you need a website built…how convenient would it be to have a marketing firm or website developer right down the hallway?
Finally, you may already have an office. You have graduated from start-up and now it is time to scale. You need to hire mor employees, but you do not know where to put them. Nowadays, with Zoom meeting becoming the norm, you could grow into a coworking space. While it will not be in the same building, the cost of moving your entire operation into new leased office space may be cost prohibitive OR you may only need employees on a temporary basis. You employees will still have an office space but for less cost and less commitment…AND they will have access to all the other benefits previously mentioned.
After being couped up for so long under COVID, people are ready to get back out into the world, especially in the business community. What better way to put your toe in the water than giving coworking a try? Maybe it won’t be for you, but you will at least have the option to give it a shot without a rigid commitment. If you would like to have more information about Penn’s Treaty Coworking or schedule a tour of the facility, please see our website pennstreaty.co or give us a call at 215-398-4141.