For various businesses choosing the right office space can make all the difference in not just building your business but also in forming a strong team and developing the right work culture that can boost productivity. It can be a daunting task, from figuring out the budget to location to negotiating the space and rent. Today, with the rise of start ups and entrepreneurial drive, plenty of coworking spaces have come up to meet this demand. However, not all the space can provide what you’re looking for. Smartworks has been around for a while and along the way, we have picked some key pointers when discussing our space with potential members. Here are 5 tips in deciding the right coworking space for your business, team, brand and budget.
1. Location Counts
As a business owner or running an enterprise, you want to be accessible to both your employees and clients. This mean, finding a location which is accessible by both private transport and near enough to public transports such as bus, trains, metro, cabs. Also, one can do a KYC based on your clientele, by knowing your client’s location. If you cannot be on the same street, at least choose to be in the same neighbourhood or area. By this, you will not only be close to other industry leaders but also potential new talents.
2. Space For Success
This is where your knowledge about your team comes to play. Figure out how your team prefers to work – a designated space or hot desking? Do they need a space to beat their stress? From a team level to an individual, choosing the right space can help in boosting performance. Plan and be realistic on the number of seats required, any additional furnishing needed and being able to prioritise between access to space, natural lighting, break out rooms.
3. Impressions Matter
Making the first impression on your clients (existing or potential) makes a big difference. Therefore, the type of space your business chooses to work out from will also play a big role. Maybe you are an existing enterprise which is growing, your clients might expect your business to be working out from a classy high rise space rather than a loft. These days, it is preferable to work in an agile workspace which reflects your brand and culture without having to re-do a space on your own.
4. Additional Space
Everyone likes to take a break from their hectic schedule. Once you have figured out the above points, it is best to visit the site and find out what additional amenities are being provided from the space. Is there a café for your team to get their caffeine fix? Are there plenty of meeting rooms for that important meet with your client? Being part of a community, one needs to also determine spaces that allows for hosting events such as networking sessions.
5. Figure The Budget
After considering all of the above, the final deal will be based on the agreed rental agreement. As an owner of an enterprise, you need to think beyond the short-term and determine if the space you have chosen will be suitable when you grow further. Negotiating the right price which includes flexible workspace, IT service and interior designer in one monthly fee would go a long way in saving time and money which can be invested towards your business.
To sum up, the location and ease of access for your team and clients, an agile space that reflects the best of your enterprise and business, space for your team members and clients to collaborate and network and making the right impression within budget are some of the tips in deciding the right coworking space. There are many players in the market but very few that can actually deliver to your business persona.