Finding the Right Property for Succeeding within a Coworking Space
Coworking is primarily about learning to work with others, which is an essential criterion for success today, whether a party is actually interested in sharing their workspace or not. On the other hand, those that are committed to the coworking synergy usually find it much easier to work across multiple environments and with varying sets of clients seamlessly. In fact, US cities are ahead of the curve globally, in terms of utilizing the coworking principles more productively than anyone else.
In spite of the versatility and social aspect inherent to coworking, it doesn’t necessarily mean any property can be chosen for fostering the principle in its perfect medium. After all, if productivity suffers because the space just isn’t ideal for the kind of coworking environment that you wanted to work in, it is quite likely that things won’t work out as well as you had imagined either. To avoid making such mistakes altogether, go through the following few pointers which should make it easier to choose the right coworking property.
Location in Relevance to Your Core Business
Location is one of the most important factors in trade, and depending on the industry, it can also be the single most important factor. Therefore, if the chosen property is not in a location where it stands to facilitate your work, it’s by default, the wrong place to choose. To help make matters clearer, consider the factors below:
- Distance: If you have to put in the literal extra mile on a daily basis, you are losing time and money. Your residence should be something like Exchange District Condos so that it matches your business place.
- Access to the resources you need for work: Fast, reliable internet connection and backup power are the bare necessities
- If a client/customer/patient visit is part of the work, how will the location affect them?
- Cost: It has to make sense in respect to what you are earning from the investment
As coworking is supposed to involve multiple other independent individuals who will be working alongside you, it’s worth considering how they will affect your work/business. You cannot choose a property that houses coworkers in fields of work that can be counterproductive for you.
For example, someone working in customer support will have to chat a lot and throughout their working hours, but how will that affect the writer sitting beside them? It’s difficult to think of a creative marketing copy in the presence of constant chatter! It’s just an example of a scenario where the coworking space has failed to be what it was supposed to be, but there are multiple others of course.
The whole idea behind creating a coworking environment involves fostering collaborative synergy, which can be defined as a mutually beneficial relationship where independent workers share with others in the vicinity. Therefore, the ideal property can’t be counterproductive or it is just not a coworking space at all.
If financial reasons are pushing you to consider options less ideal, at least ensure that your coworkers are not in conflict with your own business/work needs, even if they cannot be beneficial right now. The profession, rather than the person, should be in focus here.
Assets Records Check
In case you are planning to buy a property and then share the space with others for creating the perfect coworking environment yourself, then you need to go through the public assets records first, and especially before finalizing anything. The same applies even if you only plan to join an already existing space, which a number of independent workers have created already.
The easy and public availability of online assets-records via sites like Public Records Reviews has made it super easy to acquire the information you need and make an informed decision either way. Just in case you need a bit of insight on why going through the assets record might be important, consider the following situations:
- If you are considering a purchase, it is your legal right to check the assets records beforehand
- Checking online records is easier and saves more time than taking a trip to the county clerk’s office
- It can reveal any disputes, if present, giving you a clear idea of what to expect from the property
- Other information such as size, time of establishment, tax info, previous owner/owners, etc. can all be essential for making a sound business decision
- Carefully hidden facts will become unveiled, if present, which is important if you are going to invest and earn money from a piece of real estate
The importance of finding the right space is more varied than most of us imagine initially, and hopefully, this discussion has given you an idea of what to expect from the ideal property. Whether you have plans to create a coworking space of your own, or you want to simply join an existing office space, the considerations as discussed are all equally important.