You definitely need an office in running startup. But wait, which one you prefer?
Right now, there are plenty of options that available in the market such as coworking space, private office, and even shophouse. For each options come with their pros and cons:
- Extensive Network
Due to high traffic of people come and go, you will indirectly engage with new people. The more people that you met means more opportunity that you will have.
When running a startup you need lots of feedback. This is the most beneficial things from working in coworking space. You can directly ask your neighbour about the design, product, etc. Since there will be a lot of different people from different expertise, you can take advantage of their knowledge.
- Reasonably cheaper
In compare to renting whole office space yourself, which is a lot of things yet to be take care such as: electricity, utilities etc. Coworking space offers more convenient way, so you can focus on building your product and company.
Sometime since will be plenty of people in coworking space, the situation within will be very hectic. And it depends for each individual, sometime individual can work within very busy environment, and some individual need a very quite environment to work. You as the founder the one who identify which one work best for your teams
Since everyone within the office is your colleague, so that the office rule are set by the company. So there will be more concentration because there will be less outsider coming in and out.
- More privacy
Since the majority of the traffic is the company itself, so it offering more privacy for both personal and the company.
Usually renting office space comes with long term commitment, and it take lots of initial investment. As startup, having huge initial investment will impacting the whole company. Whereas usually coworking dont have long term commitment where startup can take advantage.