Do you prefer working from home, in the peace and quiet, with your favourite cup of tea? Or perhaps being in a busy, open space office, with a lot of buzz, is your idea of work heaven?
There are a number of options for workspace open to entrepreneurs when they are first starting up.
Here are the pros and cons:
- Working from Home: For most startups, this is the first way of working. When there is little money, or the venture is in the very early stages, it makes sense to be somewhere comfortable and familiar, where you can work at any time. With so many free and online business tools, it make sense to keep costs down by working out of space you are already in. However, it can be isolating and lonely, especially as a one man band, with no one to interact with.
- Co-working Space: This is a great option for startups with more than 2 people. Costs are minimal (sometimes it’s free), there are other companies also using the space that you can interact with (and that could potentially help your business!), and there are often networking sessions and/or courses put on by the space. The downside is that you are not always guaranteed a seat, there could be lots of noise, and you may not have 24-7 access.
- Traditional Office Space: Once you have enough employees, having your own space is essential. Being able to have dedicated space, 24-7 access, and all your own “stuff” ensures that your business can run productively. It is a big commitment though, both time and money, one that must be thought through before jumping head first into.
However you like to work, knowing there are options and alternatives make for a more productive environment. Knowing you can escape the house when you want some company, or find a quiet place away from the noise of shared workspace when necessary, is essential.