In recent years, WeWork has surged in popularity as more professionals seek flexible coworking spaces to adapt to the new normal.
The pandemic has been a transformative event, fundamentally altering workplace dynamics forever.
Today, let’s dive deep into the fascinating world of coworking spaces!
Whether you are a freelancer or a startup founder, whether you are working on a personal project or enjoying job flexibility, here are 13 compelling reasons to choose WeWork or other communal workspaces.
This article is all about the benefits of coworking spaces!
1. Enhanced Focus and Productivity
Coworking spaces are inherently designed to boost productivity, thus creating an environment conducive to accomplishing work for the day. The added benefit of being away from your office and peers ensures nearly uninterrupted time to allocate to your priorities and easier access to the flow state.
Further, home is where we are innately wired to relax and unwind. Working from the same space where you rest creates a cognitive dissonance that disrupts work efficiency and personal peace.
Also, being surrounded by individuals absorbed in their work creates an atmosphere of enhanced concentration and inspiration to get the job done.
2. Defined Work Boundaries
Coworking spaces operate within certain hours, instilling a sense of urgency and giving you a natural cue to end your workday. Stepping out of the house to work allows you to separate your work life, creating a routine and adding structure to your day.
Further, a little space from your near and dear ones only strengthens the bond, leaving you longing to see each other after a day in your commitments outside your home. I heard this in the School of Greatness podcast, “Music happens in the ‘space’ between notes”.
The mental toll of constantly being in a ‘work mode’ at home can lead to burnout, reduced quality of life, and strained relationships with family members. It can blur the boundaries between work and personal life, negatively impacting both lives. Coworking spaces provide that necessary separation, helping you compartmentalize your responsibilities.
3. Essential Network Building Opportunities
The communal setup of coworking spaces breaks the silos to bring a diverse range of industries, expertise, and experiences under one roof.
In a traditional office, interactions are often limited to the immediate team or department, often with people from similar career trajectories.
When I worked out of WeWork at age 23, I built a diverse network including:
- Multiple startup founders, some of which are now launched and venture-funded
- An education consultant who later helped me with my MBA applications
- A UI and UX designer
- An intern from Goldman Sachs
- A crypto investor
- A screenplay writer and director
- A sleep story writer (Yup!)
- And a breathing instructor (Yes, you read that right.)
4. Meaningful Social Interactions and Community Feeling
American writer, motivational speaker, and self-made millionaire Jim Rohn said you are the average of the five people you spend the most time with.
A coworking space provides an incredible opportunity to meet goal-oriented individuals, make new friends who inspire you to grow, and be a part of a new community. We are social creatures longing for a sense of community and belonging. Unlike primal times, we are now fortunate to be able to choose our communities.
If you are someone who thrives on meaningful interactions and learning from people with stories different from yours, an investment in a well-established shared office space like WeWork will not disappoint you!
5. Rich Exchange of Ideas
Coworking spaces are fertile grounds for cross-pollination of ideas.
Imagine sharing a workspace with a graphic designer, a blockchain developer, and a playwright! Each individual brings a unique skill set and worldview to the table. The organic interactions in communal areas, whether during a coffee break or an impromptu brainstorming session, create fertile ground for exchanging ideas that can lead to groundbreaking innovations or solve complex problems.
Unlike traditional office settings that often turn into echo chambers of like-minded thinking, coworking spaces present a melting pot of perspectives, skills, and expertise.
6. Bid Adieu to Office Politics
You will share your workspace with people from different organizations with different career paths and goals. The members of the space are not competing for common roles or promotions. Internal power struggles and hierarchical dynamics are almost unlikely even when interacting with someone older and more experienced than you. It is a positive sum game!
The emphasis in spaces like WeWork is on community and collaboration rather than climbing the corporate ladder, thus cultivating a culture of openness and mutual respect.
7. Fosters Creative Thinking
The website you are reading this article on was a brainchild from my early days at WeWork when I worked a full-time remote job in private equity.
Here I am today, with zero coding knowledge and no knowledge of digital marketing a year ago, sharing my thoughts with the world on a website I built from scratch.
What is it about WeWork that leads to creative thinking? Many potential triggers-
- The interior design and positive atmosphere
- The absence of energy drainers
- Conversations that shift perspective
- Quiet corners for deep work
- Flexibility to take out time for personal endeavors
8. Ancillary Financial Benefits
One of the financial benefits of using a coworking space for your registered business is the possibility to claim these expenses as deductions in the tax returns (if you are not claiming it for another property registered with the same organization). This is an efficient way to manage operating costs and a strategic method to maximize your business’s financial health.
Maintain meticulous records of all payments made, including invoices and receipts. This will simplify the tax filing process and provide essential documentation.
Tax laws vary by jurisdiction and are subject to change. Consulting a tax advisor can provide the most current and personalized advice, ensuring you are fully compliant while taking advantage of all available deductions.
9. Beautiful Spaces
The role of design in shaping our emotions and cognitive functions can’t be overstated, and WeWork seems to grasp this concept fully. Beautiful designs create aesthetically pleasing and motivating spaces that naturally elevate your mood and inspire creativity.
Interior design isn’t just about looking good; it’s about feeling good in the workplace, and this positive atmosphere nurtures creativity.
10. Flexible Payment Plans
Most coworking spaces offer the day pass option, which is more feasible if you are testing the space or may only visit the property occasionally.
Conversely, you could choose the monthly plan and add your credit card on file.
Some spaces also provide day pass bundles redeemable on the days you choose to visit the property.
11. Exceptional Hospitality
When it comes to amenities, WeWork’s hospitality is second to none. Providing everything from lightning-fast internet and efficient printing services to private phone booths and well-equipped conference rooms.
WeWork’s community managers actively foster a positive atmosphere. They’re your go-to people for professional and personal needs, consistently going the extra mile to ensure you feel like a part of the community.
When I studied at WeWork in 2020, the community managers allowed me access to an available conference room for over a month at zero extra charge due to the relative vacancy of the property at the time. This may not be possible today. However, it is a testimony to the hospitality offered by WeWork.
Lastly, with a global footprint, WeWork takes cultural sensitivity seriously. Each coworking space is designed to reflect local customs and preferences, whether in the interior design, the amenities provided, or the community events hosted. This global yet localized approach sets WeWork apart in the shared workspace industry.
12. Wellness Rooms and Quiet Spaces
Understanding the need for work-life balance, WeWork offers wellness rooms and quiet spaces where you can meditate, take a quick nap, or unwind.
I used these rooms a couple of times when my online therapy sessions clashed with my time at WeWork, and what a boon these were!
However, I’d recommend not taking naps unless crucial to your productivity in these rooms to avoid linking resting and sleeping with the space.
13. Unlimited Beverages
The seemingly simple inclusion of coffee machines and unlimited access to hot beverages in coworking spaces like WeWork goes beyond just providing caffeine fixes. It is about the opportunities it creates for spontaneous conversations.
Grabbing a cup of coffee is often less intimidating than formally asking someone for a meeting. It offers an informal setting to discuss ideas or even potential collaborations. The coffee machine area is probably where you’ll meet the regular members and have ice-breaking interactions.
Stepping away from your desk to grab a beverage also serves as a quick mental break, allowing your brain to relax and rejuvenate.
Although I recommend WeWork, most of the points above apply to any coworking space business model.
While it’s true that coworking spaces entail a financial commitment, it’s crucial to consider this investment in the context of the numerous advantages they offer. The return on investment (ROI) transcends mere costs: increased productivity, a sense of community, and networking opportunities can make coworking spaces a highly worthwhile expenditure.
Ultimately, choosing a coworking space should be guided by your specific needs and career goals. Take the time to analyze your priorities and workflow; you may find that the benefits of a coworking environment align perfectly with your objectives, more than justifying the financial outlay.
This post has been all about the exciting reasons to consider coworking spaces!
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