Is Coworking Worth the Cost?

We have been covering the benefits of coworking, and there are many! Once you begin to understand the benefits of coworking, the last hurdle to get over is the cost. Keep reading for 4 reasons coworking is worth the cost.

Many people are tempted to talk themselves out of coworking with thoughts like, "I don't want to spend the money." "I'm still growing my business." or "I'm just starting out."

Here's the deal...everything has a cost! Even the stuff you don't spend money on can cost you something. (Have you ever heard of an opportunity cost?)

You see, when you're starting a business, it's easy to feel the need to tighten up and cut spending to save on money and temporarily see an increase in revenue. However, this strategy keeps you stuck in activities and actions that are reactive or not value-generating.

So how does renting a space at Waunakee Coworks generate value for your business, and why is that small investment worth it?

1. Makes Your Business Official

Committing to an office space makes your work 'official!' People will take you more seriously when you have your own business address, suite number, and professional meeting space.

When you hand someone your business card or add your business address to your signature line, you are showing that you have made an investment in your company and you're not going away. You're too legit to quit. (Yes, I threw in a MC Hammer lyric, and I'm not going to apologize for it.)

2. Increases Productivity

In a coworking space close to home where you're in an office, you don't have as many interruptions. I know the family means well, but according to research from the University of California, Irvine led by Gloria Mark, it takes 23 minutes or more to refocus after an interruption. That 5-minute interruption just cost you 30 minutes.

Don't work more hours to make that up. Rather, when you're at work, work. When you're home, make your family and friends the focus. Trying to balance both in the same environment has the potential to increase stress levels.

3. Brainstorming Power

Coworking gives you the opportunity to be in the company of other entrepreneurs you could share ideas with. You have the privacy of an office with the perks of socialization, and you can use both within your day to best fit your needs.

What I love about talking over work challenges with others is both people gain from the conversation. Coworking allows for a space where people can continuously learn and grow from each other. It can be isolating to start your own business or work remotely, but with coworking, you're able to benefit from a built-in support system.

4. Allows for Room to Grow into Your Business

Coworking allows for 'right-sizing' as you're starting out. If you're testing out a business idea, trying out remote work, or just trying to get your foot in the door of a new career, coworking is your secret ticket.

There are no long-term commitments. The memberships are month-to-month (60 days notice). Expanding soon? There may be room for that as well! Coworking spaces give you the flexibility to explore and expand your work to find a rhythm that's right for you without having to sign your life away. Look professional and put together without the long-term pressure.

Now that you know coworking is the smart financial choice, are you ready to take a tour to see what options are available? Email WaunakeeCoworks@gmail.com to schedule a showing!

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