Success in shared spaces may not be exclusive to startups, but startup companies have certainly thrived within these environments. While startups have provided shared spaces with an abundance of opportunities, startups have found the perfect environment tailored to their specific needs. It’s been such a perfect match that the two models have appeared interchangeable in the eyes of the mainstream.
Here are the 5 reasons for why startup companies prefer to work within shared spaces. By understanding these reasons, you can better provide for your members that are startup companies.
Millennial Friendly
It starts with the design. Shared spaces create an environment that is vibrant, connected, and minimal enough to meet the needs to today’s young worker. With smaller commitments and more opportunities, it’s an environment that is win-win for millennials and operators. The millennial generation also has fewer responsibilities working with a shared space, which means less cleaning and maintenance. Millennials also tend to prefer renting over owning so that they can feel empowered to continue focusing on high growth.
Flexibility
Shared spaces provide a short-term, low-commitment solution for renting space and having their office needs met. Examples of this flexibility includes, hot-desking, private desks, and private office memberships offered on a month-to-month basis. Shared spaces also provide membership plans with special rewards such as low-cost options as well as the option to pick up a private office and work overnight. This is ideal for companies that don’t know how much cash they’ll have in three months, a high volume of startup companies.
Collaboration
Isolation can keep a startup organization caged, blinding them from seeing what the next steps to success are. Shared spaces put startup companies, often with similar needs, within arm’s reach of other. More often than not these startups will find ways to work together and solve each other’s challenges for mutual gain.
Cost Savings
Flexible options for reserving space and making payments can add up in the long term. Many successful startups began as companies that could only invest in their big ideas rather than their overhead. Shared spaces are considerate of this need, allowing startups to hit the ground running with minimal operational complexities in the way.
Opportunity
As startups and shared spaces are generally tech-oriented, there is an increased opportunity to meet and network with bigger companies, as well as investors and corporations. In fact, tech companies often see shared spaces as incubators for new business ventures and they could always use the hardest working talent to get their capitally-funded ideas off the ground.
Again, you don’t need to be a startup to achieve success in a shared space. What you can do is explore the benefits in flexibility, opportunity, and collaboration that only shared spaces offer. Regardless of your business model and whether you’re looking to build, rebrand, reinvent, or incubate a new idea, shared spaces can provide the perfect backdrop for the next big idea. For more information on how WUN can make your shared space the best in class for these features, please click the button below.