Aspiring entrepreneurs in Nigeria have a compendium of challenges to contend with, some of which can be quite draining.
One of these difficulties is securing a suitable office space. This probably falls under some associated costs that a lean bootstrapping startup might want to cut out.
Using a shared workspace is one option to consider when you have a tight budget
It is one of the effective ways startups can bootstrap and grow without breaking the bank.
7 reasons you should consider a co-working space for your startup:
#1. It’s cost-effective
Choosing to use a shared workspace for your startup can be a brilliant move as it allows you to save on costs related to rent; costs such as diesel for your generator, janitorial services, and wifi internet costs among others.
#2. It affords you the opportunity to network and collaborate
One of the big advantages of using a co-working space as a startup is that it allows your team to network and work efficiently with other startups and entrepreneurs sharing the same workspace.
In some cases, complementary businesses can find themselves working side by side, making great business sense for both startups.
#3. It saves manpower
As a user of a co-working space, your team does not need to bother about the day-to-day hassles of facility management that would have otherwise been a major distraction.
Shared workspaces usually have their own administrative, service management and janitorial services sorted out allowing your team to focus on your core business.
Building a community both on and offline is important for any startup looking to grow and integrate with its community.
Sharing a co-working space allows your startup the opportunity to build a howbeit small community with other startups in the space as well as the community of entrepreneurs, customers, and guests who also often share the same space.
#5. It inspires creativity
Apart from operating with all the essential functions of a standard office space, many co-working spaces are also very well finished and with a high aesthetical appeal.
Excellent aesthetics and decently crafted, artistic workspaces also inspire creativity inspiring your team to be creative while at work.
#6. Most Silicon Valley startups started that way
It is no news that the big known Silicon Valley startups started in dorm rooms and garages.
The fact is that some of these places were shared workspaces, with the creative founders working on their different projects while helping each other to grow and succeed.
#7. Its Super Cool
Remember back on campus or at that work retreat where you had rival teams working on their own projects hoping to best the other in a collaborative non-threatening competitive environment?