The 5 C’s of Coworking

The 5 C’s of Coworking

So you decided to start your own business. If you’re like most entrepreneurs nowadays, it’s most likely a digital based company and you likely launched from home. There’s nothing wrong with that, it keeps the costs low and lets you write off portions of your home for tax purposes. However, working from home can be a serious impediment to your business growth as you try to expand. It works for the bootstrappers for a little bit, but then you start getting homesick, and not because you’re away from home, but because you’re there too much. Besides focusing on the negatives of working from home, let’s talk about the advantages of upgrading from the home office and moving into a coworking space. Here are the 5 C’s that coworking gives you that you’d be hard pressed to find at a home office.

Collaboration

Believe it or not, the home is not conducive to collaboration. How often do you bump into a stranger at your home? Probably never, because if strangers are constantly in your home you probably have a serious security problem! In a dynamic workspace such as a coworking office, it’s ok to bump into strangers, in fact, it’s encouraged. Anyone can tell you it’s about who you know, that will help you make it ahead. If you increase your chances of meeting folks you can collaborate with, your business will grow faster. It’s a mathematical certainty.

Competition

At coworking spaces, there’s a good chance you’ll be working in the same space as someone who serves the same market as you. Technically, your services could be in direct competition with that business in the same workspace. For many people, it scares them. But we live in a mixed-market capitalist economy. Competition helps to drive down costs and put pressure on monopolies. In the words of Gianni Versace, “It’s nice to have valid competition; it pushes you to do better.” Being surrounded by competition and having to constantly improve your services is better than being blind to it while sitting at home with a stagnating business.

Commitment

Ahh Millennials. Most of us can’t even commit to relationships these days. What makes you think you should commit to a 3 year office lease or if you’re lucky, a highly overpriced 1 year deal. Coworking spaces solve these commitment issues and we understand that millennials and entrepreneurs these days have more dynamic needs and are much more mobile. Like those digital nomads doing SEO in Thailand.

Community

As we see traditional communities break down or become less relevant to society nowadays, we have notice that we are losing face time with people we used to socialize with day-to-day, week-to-week. Especially with the advancement of lifestyle technology, we can now decide how and when we engage, and if we engage at all.  By working in a space where other movers and shakers are also working, you can begin to get a sense of community that is both high tech and high touch.  Coworking spaces help to reignite this community spirit to keep you grounded and social.

Creativity

Business and productive work requires creative and innovative thought. Too often when you are running at mach 10, building your enterprise, you can get into a slump. A slump similar to that of a “writers block”. A coworking space however offers a more organic way to invoke creativity. By having a different vibe, environment and atmosphere than the home office, you’ll find the creativity you’ve been searching for with your business.

What are you waiting for? HustleCo Workspace by Chinook has a fantastic promotion on until July 7th where they are offering drop-in day passes for just $1.50 for Canada’s 150th birthday. The best part? All proceeds are going to charity, the CPAWS (Canadian Parks and Wilderness Society).

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