Top 5 Mistakes Startup Owners Make When Choosing a Coworking Space
Coworking spaces are picking popularity in the modern business development landscape. We see many shared office spaces for rent across different places. With co-working spaces expected to grow at a 13% annual growth rate, they are definitely a good option for startups to mid-level businesses. But at the same time, they can also become a bad one if the coworking space does not possess the required amenities. Different factors determine the quality of a coworking space, such as facilities, backup, location, and environment. Neglecting any one of these can cause problems for startups. This blog covers the five most common mistakes firms make when choosing a coworking space to expand their offerings.
Top 5 Mistakes Every Business Should Avoid
Here are the most common mistakes most startup owners make when shifting their business operations into the official environment:
Falling for Low Prices
The first and most common mistake is falling for low prices. As startup owners, almost every entrepreneur looks for a cost-effective option. But most of the time, the cheapest coworking space is not the best space! There are many factors that every startup owner should assess, such as locality, quality, furnishing, spaciousness, and the reliability of the coworking space. If the shared office space lacks any of the mentioned factors, it is important for the owners to consider other options, as these factors directly impact the office experience.
Not Ensuring Quality of Property/Space
It is necessary to consider quality when booking a coworking space as it is one of the most important decisions for your business growth. Many factors contribute to the quality of the coworking space, such as environment, building situation, furnishing quality, and the property’s age. Coworking spaces in old property buildings can lead to problems drastically impacting startup growth, employee retention, and business future. The second biggest mistake every startup should avoid is not ensuring the quality of the office space. techcdcdcdcd
To elaborate with an example, consider you just moved into a coworking space with your team. A few months later, monsoon season hits, and your newly booked office space is flooded with water leakages due to poor building maintenance. To avoid such disasters, always double-check the quality of property whenever booking an office space.
Neglecting Lack of Common Areas
The third type of mistake is mostly overlooked by most business owners and can have a huge impact on overall business growth, especially in the long run. It is the shortage of common areas in the coworking space. A common area is a space where the whole organizational workforce can gather. Cafeterias and meeting rooms are some prominent examples of common areas. These amenities might seem irrelevant in the start but are definitely important for business success. This one point also adds up to an excellent work-life balance within the workforce, as frequently we need to step away from our desks to relax the mind, which ultimately increases productivity. The statistics indicate the same as 72% of workers believe that work-life balance is the most important factor when choosing a job.
Not Checking Backup Options (Power & Internet)
Power backup is integral to saving thousands of dollars for any business. Ensuring that any coworking space you choose has complete power backup resources is important. Also, note that the sentence “we provide power backup” has different meanings. Some coworking spaces that charge less to businesses only offer a limited power backup that just keeps the internet alive. Startups that are growing and new to the market need to have full power backup as they cannot afford delays in client responses and work completion. This is one of startup owners’ major mistakes as they do not ask the call operators about complete power backup plans and internet alternatives.
Ignoring Location Distances
For a startup to grow and prosper, it is important to cut extra costs that are not providing much value. One such example is the location of the office space. Many people in the industry always say, “Location is King” whenever they want to rent a coworking space. A coworking space located in the heart of the city will have a significant advantage over other shared spaces that are off the main business markets. Ignoring the office distance from the main market hub, the area of the locale, and the distance from all the centers of the city is one of the biggest mistakes young entrepreneurs make. It can lead to slow business growth and can also result in poor retention of the workforce.
Also Read:https://techub.com.pk/blog/coworking-space-in-lahore-increasing-modern-day-business-productivity/
How Techub Can Help
To summarize, every startup must consider different factors when choosing a coworking space. All of the factors contribute to business growth and can severely impact a new brand if neglected. To fulfill all your coworking needs and to ensure that your business does not fall off track, Techub has got you covered. With our full-fledged power backup system, your business will have undisruptive growth and will reach new heights. If you are looking for reliable coworking space in Lahore, look no further as Techub delivers a complete ultimate office experience with full-fledged resources and connection availability.
You can contact us for more information.
