- Large, multi-million companies are starting to experiment on coworking and partnering with coworking operators.
- Most self-reliant companies are missing out on major opportunities from coworking that are in fact beneficial for their business growth.
- Common Ground recognizes that the benefits of coworking go beyond sharing of workspaces and tangible factors.
Huge companies like IBM, Microsoft, and Facebook are starting to get into coworking by experimenting on sharing workspaces with people outside their organizations or partnering with coworking providers.
So, what’s with that? Clearly, there’s something about coworking that these big industry names are starting to take notice. And since these companies are already worth millions and probably have enough funds to buy their own island, it may not be the plug-and-play, flexible, money-saving benefits of shared office space that have taken their interest.
The truth is, you’re missing out on a lot of things if you think coworking is just a collaboration space. More than the amenities and services, it’s the coworking culture that gives the best opportunities that bring leverage to any business—something that independent companies won’t find in their fixed and confined environment. Here are some of them.
1. The opportunity to widen your network
In business, it’s not just what you do but also who you know. And you can only go so far if you’re reliant on friends’ referrals, or the yellowbook, or your LinkedIn to get potential partners, investors, or clients.In a coworking space, you have the chance to meet these prospects face to face, right there and then, and personally learn what you can do for each other or what you can come up together. It’s like being in an expo or any networking event without the wait or pay. Networking in a coworking space works.
Based on 2017 Harvard Business Review, 82% of respondents confirmed a positive growth in their professional network because of coworking, and 64% recognized their coworking network to be a key source of referrals.
2. The opportunity to go local
Coworking creates a sharing culture that encourages and supports more local businesses that would otherwise fail due to financial strains and limited resources. As more local businesses are established, there are more opportunities for employment within the community and customers have more chances to patronize local goods and services.
Besides giving these local businesses the support and platform they need to start and operate, some coworking operators even choose to partner with them to benefit their member companies.
Moreover, coworking connects people and organizations on both local and global scale. It introduces foreign companies to possible local partners that could help in the acclimatization of their business within the country.
3. The opportunity to learn and grow
You get to share a lot of things in a coworking space. But the most valuable thing shared in these spaces is knowledge. A research from the University of Michigan recognizes knowledge-sharing as one of the most common reasons people seek coworking spaces.
The exchange of ideas, information, and expertise among members is the core of the coworking culture. You can already learn a lot just by observing how other people work. Plus interacting with one another is a great way to impart some best practices, useful hacks, and new perspectives.
Some coworking operators also provide consultations with experts and business gurus. Training and workshops are also common activities in these shared spaces. By participating and engaging more, you gain more wisdom and become more equipped to manage and grow your business.
4. The opportunity for business support
Whether you’re a start-up or a growing enterprise, you’ll find that coworking helps you a lot in your business operations and partnerships. The benefits of coworking, like having a conducive workplace in flexible terms, the power of networking and flexibility, and having access to beneficial events and learning activities, are such a huge help for businesses. Chances are you’ll be able to find resources for marketing, bookkeeping, and for other business operations through coworking, than when you’re working all by yourself.
In a coworking culture, you’re never alone. Wherever you turn, you’ll always find someone or something to help you, motivate you, or inspire you.
5. The opportunity to be part of a community
Because of its supportive environment, you’ll feel like you're part of a community. And this is one of the reasons why people thrive in coworking spaces according to a survey of Harvard Business Review.
There’s no way we can talk about coworking without using the word “collaboration.” That’s because teamwork, partnership, and mutual interest are always present in these collaboration spaces. These make coworking not just a place, but a community – a healthy ecosystem where businesses support, learn, and grow with each other.
6. The opportunity for exposure
When your business is in a coworking space, you’re putting it out there in front of other businesses, potential partners or investors, and prospective clients. When you have your own building or office, all that people see is your door, and you have to get out and participate in business exhibitions, pay for ads, and go to events where you can get more exposure.
In order to get the most of this opportunity, choose a coworking provider that can design your space to be more attuned with your branding. This way, other coworking members will be able to recognize your business and incite interest.
Coworking activities are also a great opportunity to get your business exposed. Other businesses, even non-members, are also opting to partner with coworking operators to lead some of their events or provide extra benefits to their occupants.
7. The opportunity to get a great deal
This partnership between coworking providers and businesses allows coworking members to gain additional privileges and exclusive discounts. By partnering with tech companies or software providers, coworking operators are able to offer credits and discounts on some technology solutions or business software. This way, members can save on costly tech applications, licensing, and upgrades that are important for smooth and effective business operations. Some partnerships also involve food businesses, airlines, and hotels. And earning a great deal with these enterprises truly makes the coworking more rewarding for its members.
With Common Ground, you don’t get to miss any of these opportunities.
As a coworking provider, Common Ground understands that the benefits of shared spaces go beyond the physical aspect. So while their spaces are something to behold, they are also building an energetic, supportive coworking culture that makes the experience all the difference.
During one of their branch openings, Common Ground Community Manager, Ana Lucia Aguila said, “At Common Ground, coworking means more than a desk and internet connection in communal workspace, but building an engaged community and vibrant ecosystem to help ambitious, fast-growing companies take business to the next level.”
Furthermore, Common Ground is pushing for more partnerships to meet the different needs of its members. For its co-founder, Erman Akinci, this sets Common Ground apart from other providers that are only focusing on a handful of partnerships and benefits. “Businesses don’t work that way,” according to Akinci. “You don’t just have one partner that’s going to fit or suit everybody in that whole space or across that whole network.”
What do you think of these opportunities from the coworking culture? Do you think independent companies stuck in their limited backyard are really missing out a lot?
If you want to get the most of the benefits of coworking and the opportunities that the coworking culture creates, check Common Ground’s website and Facebook page for more details. Better yet, book a tour with us!