Editor’s note: This article was first published in April 2011, during Spain’s economic crisis, when coworking was still presented as a new trend.
In a previous article we looked at coworking (sharing an office or workspace to keep costs down) as a business idea for getting a return from commercial premises or an office. Now that this way of working has proved its worth, demand for it is growing.
Clearly, if you’re starting out as self-employed or as a freelancer, you’ll need some basic services, such as an internet connection and a printer, and, depending on the nature of your business, a reasonably presentable physical space in which to meet your clients.
To get more out of a coworking space, it’s a good idea to share the office with professionals whose work is very similar to yours or simply complementary. For example, if an architect and a company that sells building materials share a space and one of them receives a client, both could benefit, since the client could buy both services from different companies in the same place.
The smartest ones don’t just share office space; they create collaboration strategies in which one company gives a client a bigger discount if the client also hires the company it shares its space with.
That way, a lone self-employed professional gives clients the impression of a big company the moment they walk into the office, and if the office mates get on well, together they can offer a wide range of services. It’s all about designing the strategy and reaching an agreement.
You don’t have to look specifically for dedicated coworking offices. Just as students look for flatmates, you can post an ad and look for a company that wants to share an office or industrial unit with you.
That said, it isn’t risk-free: when you choose another professional to share a space with, your “office mate” may turn out to be insolvent or their business may not be profitable, so you need to share the office with someone you can trust. Otherwise it could go very badly for you, especially if the office lease is in your name.
Even so, once these small risks are weighed up and accepted, the coworking idea keeps spreading with growing success. In times of crisis you have to let your imagination run free to keep costs as low as possible, and one way to cut costs is to share them. And one way to make your business more profitable is to join forces with other companies.
Further reading
- 5 ways to grow your business
- The advantages of starting a business in times of crisis
- Start a business or buy one?
- Why new businesses fail
Featured image: John Dalton, CC BY-SA 2.0, via Flickr.
