For more than a decade, this collaborative phenomenon has revolutionized the way millions of people work. International cooperation giant WeWork is now the largest commercial property owner in London, after the British government. WeWork, founded in New York City in 2010, recently received a $20 billion valuation (according to Forbes’ Steven Bertoni), a testament to the model’s departure. The only American start-ups with high valuations are Airbnb and Uber.
Collaborative work Spaces are no longer limited to digital nomads and entrepreneurial entrepreneurs. Fortune 500 companies such as gm, gm, IBM and Microsoft all rent office space from WeWork. In fact, big companies now account for 30% of WeWork’s monthly sales, according to Bertoni.
Companies of these sizes can no doubt find more economical office space, but they are flocking to WeWork to find things that are more intangible than square feet. In fact, WeWork’s sales culture far exceeds the stable office environment of the past few decades. The focus is on community and the fun of working. The company combines hotels and technology to become the world’s most successful model of cooperation so far.
Although WeWork is based primarily on the us and Europe, the company is also aggressively expanding in Asia. And, there, WeWork is far from the only game in town. In Vietnam’s ho chi minh city, Circo recently more than doubled its size and plans to expand further. In fact, almost every major city in the world has a different iteration of the joint pattern.
If you are an entrepreneur who has just started or wants to expand in new markets, you may be trying to decide whether it is reasonable for you and your business to participate in a collaborative revolution. Of course, there are advantages and disadvantages in choosing cooperative space in traditional office. Here are a few.
Cash flow and freedom from friction.
If you are an independent entrepreneur, or part of a very small team, working together may be the best place to have a full-time job. Yes, it’s more expensive than working at home or in a coffee shop, but working together provides a better environment for work.
In addition, office furniture and decoration costs will be included in your rent, electricity, high-speed Internet and other utilities will also be included. Another aspect of attracting collaborative space is that they allow you to work in a professional environment without high upfront costs or long-term commitments.
When your team expands.
But what happens when your team starts to grow? I spoke with Karl Kangur, the founder of MRR Media, whose team increased fivefold in 2017. Kangur recently choose cooperation space at the beginning of the company hire a full-time office, he told me: “work space”, he explained that “all trouble and management work in the office and the office, this let me and my team to concentrate on work and development business.”
Kangur said he believes there is enough value in the culture and flexibility of working together, and he is willing to pay high fees for a private office of similar size. “When you fast development, it will be easier to upgrade and migration to the new space, you wouldn’t normally be locked in a long-term lease, and work space owner more flexibility than traditional owners,” said Kangur.
Paying additional flexibility may be unnecessary, or can’t be sustained by your company. When your team goes beyond a small group, it makes sense to assess whether transferring to a private office has a better financial sense.
Face your customers.
One of the biggest potential drawbacks of building a team in a common workspace is the lack of control over the presentation of customer business and branding. While space like WeWork and a lot of other designs attach great importance to the design and creation of the fashion environment, their focus will be on their own brand, not on your own brand.
That’s why, even if you have a special office in a working environment, it might limit how many stamps you can put in your space. If your business relies heavily on face-to-face communication with your customers, consider the impression you have on your client in a non-professional office.
From the practical point of view, private meeting with the customer is unlikely to be a problem. Most common working space for members with special conference room. But, in the work space, it is difficult to create a private office with the authority of the level. For those enterprises who attaches great importance to the confidentiality, which may be of particular concern. Work space open layout is unlikely to stimulate private office can convey the privacy and security.
Related: if you already work at home, whether to have a space cooperation is worth you to pay the price?
When deciding between private offices and jointly working space, ask yourself how current and target customers will see your business. Joint space is not enough “severe” view is changing, but the existence of table tennis, table football table may still be a more traditional customer base.
To work for many companies, the space of one of the attractive is that they create a conducive to social environment. Usually, you will find yourself surrounded by other entrepreneurs and their teams. This makes work space network. For many people, these are all positive attributes, but they can pay the price.
Work space, for example, can make you less to control himself in the crowd and the ability to minimize distractions. Although most work together to maintain a quiet space, professional environment is very important – through special telephone booth meetings and telephone, etc – compared with private office, you are more likely to be surrounded by distractions.