THINGS YOU NEED TO KNOW

1. THINGS YOU NEED TO KNOW ABOUT WORKING SPACES: FIRST WHAT EXACTLY ARE COWORKING SPACES? When you walk into a coworking space, you'll notice that it's not like a regular office. The smell of fresh coffee in the air is second only to the electric atmosphere created by the space's energetic and excited occupants. There will be people working hard at private desks and others engaging in lively conversations at large shared tables. This is the coworking space's culture. Coworking spaces are, at their core, shared workspaces. They provide affordable office space for those who want to get away from the isolation of a home office or a coffee shop. Hot desks, private meeting rooms, kitchens, coffee, and other office-like amenities are available at these shared workspaces. They frequently provide a sense of community. Occupants are typically freelancers, entrepreneurs, start-ups, and small teams looking for a flexible workspace. Aside from culture, the cost is a major draw. One of the benefits of these spaces is the ability to rent only what you need rather than an entire private office space, which can be expensive. Costs vary and are flexible with various membership-based models. There are options for daily or monthly fees. Membership costs vary depending on whether you use a shared desk or prefer a dedicated one. WHO USES COWORKING ROOMS? THE COMMON SUSPECTS ● FREELANCERS Co-working spaces give freelancers the best of both worlds: The freedom to work your own hours and schedule without feeling isolated. As a result, these shared spaces are ideal for freelancers. For those who would otherwise be forced to work alone at home or in a coffee shop, a sense of community is created.

2. ● START-UPS Startups value the adaptability of coworking spaces. Coworking spaces do not have the high costs and commitments associated with traditional office leases. They also allow small groups to interact with others in the space. These spaces may also assist entrepreneurs in finding a co-founder for their new venture by connecting the right people at the right time. ● THE IDEA IS SUCCESSIVE. Coworking spaces are an excellent fit for these types of small businesses. There is a natural fit between what the spaces provide and the goals of freelancers and start-ups. A group of researchers has been studying the effects of coworking on productivity, and some of their findings were recently published in The Harvard Business Review. Their research found a strong correlation between employees thriving in these shared workspaces and employees thriving in traditional offices. So much so that they decided to investigate coworking spaces further. The researchers discovered that people who use coworking spaces have different attitudes as a result of their surroundings. ● LARGER ORGANIZATIONS HOP ON BOARD With coworking spaces working so well for the usual suspects, there has been a recent adoption of coworking spaces by larger organizations. Forward-thinking companies are already starting to utilize coworking spaces where possible. ● TRADITIONAL OFFICE REPLICATION When large organizations embrace a new trend, the natural next step is to internalize the practice. Are our Facility Managers and workplace strategists going to start creating co-working spaces within their own offices? The ability to replicate the culture of coworking spaces will be the most important success factor. True freedom and mobility are enabled by shared spaces. The culture fosters genuine organic collaboration and conversations. This is one of the benefits of coworking spaces. They promote innovation by allowing people with diverse skills and talents to connect and collaborate.

3. The freelancing economy is expanding. Younger workers, such as Millennials and Gen Z, are increasingly finding themselves in freelance positions. There are currently 53 million freelancers in the United States. By the year 2020, freelancers will make up half of the American workforce (both full and part-time). As a result, there will be more coworking spaces. Furthermore, coworking spaces are effective for small organizations with one to several employees, as well as for larger organizations looking to innovate. The design and culture serve as a model for any organization looking to innovate and grow. It's no surprise that these areas have generated a lot of interest in recent years. Expect to hear more about and see more of these types of spaces spring up near you.