Operating in the competitive business world of today is no easy feat – not even for established enterprises! It is for this reason that countless business owners are embracing the many benefits of co-working spaces. These spaces are quickly becoming productive, supportive, collaborative hubs responsible for driving growth and keeping teams motivated.
Co-working spaces refer to large office spaces that are shared by more than one business or company. Some co-working spaces are created for businesses that are somewhat inter-linked and can support one another, such as a printing company and an advertising agency. In contrast, others welcome businesses that are entirely different. Either way, they offer the same benefits as highlighted below.
Co-working spaces allow for the exchange of ideas
When two businesses work together in the same area, their diverse cultures and ways of doing things will rub off. Their business owners will also likely spend plenty of time conversing and comparing business models. This ultimately leads to learning from each other, which can help to support growth and change.
Co-working spaces allow for optimal networking
Your employees will appreciate the fact that a co-working space provides them with an unrivalled prospect when it comes to networking. After all, the more connections one has, the more opportunities are likely to follow in the future.
Co-working spaces encourage employee skill development
An important aspect of retaining the best talent is paying special attention to ensuring that your employees feel inspired and are constantly honing their existing skills, all the while growing in a professional capacity by developing new skills. It is for this reason that many businesses operating in co-working spaces will create opportunities for their employees to learn from and mentor each other. This could be an initiative that employees can take part in in their own time or form a part of their daily jobs.
Co-working spaces promise a more significant reach
Word of mouth still plays an enormous role in the growth and longevity of a business. This is true regardless of the number of digital marketing tools and opportunities available! Co-working spaces amplify the benefits of word of mouth because the clients of the other business operating within the space will be exposed to your brand every time they visit for a meeting or a chat. They might enquire regarding the nature of your enterprise, and, as long as you have created and nurtured a positive relationship, your co-sharing colleagues are likely to recommend your services. For many, the mere convenience that both businesses are operating in the same space could be the boost necessary to convince them to choose your business over your competition, should they indeed be looking for your services.
How to create a collaborative working environment
The first step to creating a smooth and productive collaborative working environment is to join a co-working space that already houses a business from which you want to learn or which you admire. If you want to ensure a good culture fit, be sure to write a list of the most essential features that you are looking for. Finally, ensure that you select a space that accommodates your space requirements properly so that there will not be any issues regarding comfort and productivity.
The great news is that most co-working spaces come with flexible leases, so nothing is stopping you from exploring this as an option for your business. If you love it, great. If not, you can move elsewhere quickly without incurring any penalties. So, do your research today, and you will be one step closer to embracing the collaborative and creative benefits of co-working spaces in South Africa.