Global Coworking Spaces Growing Exponentially: How to Develop a Competitive Edge

Nowadays we can see that there are a ton of places that you can utilize as an office space for you and employees on a month to month basis. There are clear benefits to having office space based on the short term, especially for growing businesses. Market leaders such as WeWork have opened coworking spaces in major cities across the United States, while newer entrants to global markets like Christie Spaces have open up as a sort of pop shop to your small business or entrepreneurial idea off the ground. The proliferation of coworking space providers offer different business amenities that could better help your business growth. With the plethora of spaces opening up on a global level, how does one compete? 

Work Space Do’s but don’t over-do’s

Work space is important; but it’s really important to take note that all small businesses and purposes for using this co-working space are different. When facilitating a coworking space, it need to be able to adapt. Have an open environment that sparks ideas and creativity.  An area that motivates anyone and everyone to work better and harder each day they come in. The negative stigma that follows working should be eliminated in this space. Anyone can provide space to people, but not everyone can provide space that inspires. Although this may seem like a difficult task, it is actually fairly simple. Open concept areas, windows, and comfortable seating are three aspects that can greatly help work productivity. Colors are important too. Use a color scheme in the areas that send good work vibes to those within the space. No one wants to be in an area where they are in a boxed up cubicle and all the walls are the same color. That sounds boring because it is. We work harder in productive areas. Be careful to not go overboard because your work space competitive advantages are based on utilizing simple layouts that spark creativity. If the colors become to much they can become a distraction. Finding that equilibrium in the work space is important.

Promotions Are Incentives

While often forgotten, promotions are important. Everyone is trying to save a buck. Offering monthly discounts to bring in small business owners or entrepreneurs could be the deciding actor why they choose your co-working space over others. As a small business owner and/or entrepreneur funds are crucial to their business development. Providing monthly discounts is a huge incentive because to them it means more money could be invested into their business. It also says to those who take part in your promotion that those who provide this space are interested in their business development, thus creating a brand loyalty. Why go to any other space if this one is supporting your business?

Check out the Competition

On the global level is can seem daunting to compete with all the other leaders in co-working spaces. One competitor that spans in and out of the United States is WeWork. Ever hear the saying if you can’t be first be better. Well WeWork was the first, but now there are so much better co-working spaces out there. Checking out the competition can inspire change within your own business to improve the overall quality. To be competitive you must offer better. If you don’t have an amenity one offers get it, because that could be the deciding factor. Rise above the rest become a leader within your own industry.

One is not like the Rest

Often confused as the same incubators, accelerators and co-working spaces all differ.   Incubators are for the very very new businesses or businesses that want to get off the ground. This is a premature step to the movement to a co-working space. Along with accelerators they are also for what is commonly referred to as startups.  Co-working spaces are for the already established and need the space. Commonly co-working spaces are filled with employees that are overflow from a business. They need to provide space for individuals to work. Coworking spaces are different than incubators and accelerators; they provide a more mature space for established businesses. Incubators and accelerators are the prepubescent versions of coworking spaces. Making this difference known will help your business stand out from an even larger plethora of shared space in which people work.