Most startup businesses fail within the first few years because there are too many expenses and not enough revenue. You may have decided to put it off until you’re more financially stable, but you may not have to. You should use a shared office space instead of renting or buying your own because it can save a lot of money. Find a shared office space in maplewood MN, specifically designed for startups, and you’re less likely to encounter the kind of disruption you don’t want! Below are the reasons to consider sharing offices with someone else.
Lease Flexibility
In most cases, you would be hard-pressed to find a landlord willing to give you a month-to-month lease. However, if you’re are sharing space with another entrepreneur, you’re likely to find the terms you need. You can go monthly, bi-monthly or even weekly, until you decide what to do or on more stable ground financially.
Cost-Efficiency
Unless you have perfect credit and a lot of money saved up, you probably won’t be able to find a building to use. Most commercial landlords require near-perfect credit because it is very easy for a start-up company to fail. However, rents are usually lower when sharing a place with another company, meaning you can save a little more, which can be used for more products or marketing techniques.
Built-In Networking
Being near to like-minded individuals means you have others who understand your struggles. You can bounce ideas off them, ask for help with problems and may get referrals. It can sometimes be hard, especially if you are both in the same niche, but you can both help each other grow your individual businesses and may find a lifelong partnership somewhere in there.
Professionalism
You need to appear professional to your colleagues and clients at all times. That can be impossible if you work from home, even if your home is immaculately clean. Personal and professional shouldn’t mix. You probably dress professionally, but if you meet at a public coffee shop, it can seem like you don’t care about appearances or can’t afford a real place. That doesn’t say “trust me” to most people.
Ready-to-Work Environment
In most cases, you will rent an office from someone who already has it set up. While you may not be able to make many changes, you’ll have a ready environment to come to whenever you require it. Whether you want to work there all the time or have a professional place to bring clients, you’ll find it.
If you’re wondering why a startup business should use shared office space, you aren’t alone. Many have wondered the same thing and have found multiple reasons to consider it. The best shared office spaces in Maplewood MN, host plenty of events for mingling, networking, and learning from fellow cohorts. Whether that be in the form of happy hours, educational workshops, or guest speaker events —situating yourself in a workspace where you can’t help but meet other entrepreneurs could make the difference for your startup.
