Though the humble beginnings of some of the world's most successful companies begin within the confines a garage or a home office, this is rarely the final headquarters for any business. There can be an energy and excitement that comes with answering conference calls while you hear your neighbor's lawnmower whirring faintly in the background, but eventually, you realize that you need more resources and support to bring your startup to the next level. If you are still unsure whether you’re ready to start searching for an office space to call your own, we have prepared four reasons to help you decide.
1.) A Dedicated Space Attracts Talent
Though a traditional office space may not be what you ultimately go for, there are other options such as co-working spaces that allow for shared desk space where your team can at least congregate in a single place. Once you generate traction and need to grow your team by bringing in talent outside of your network, having space outside of your home or a coffee shop brings legitimacy to your startup. Finding top talent is competitive, so put yourself in the shoes of the people you are looking to hire. Think about how you would feel if you interviewed for a company that didn’t have a space to meet with clients or take calls. The ground up approach of starting a business from scratch may be appealing during the early stages of your company, but if you are looking for seasoned or experienced talent, they will be fielding multiple opportunities. Free wifi at your local coffee spot can be attractive, but you will not be able to take over your local Starbucks with your entire team on a daily basis.
2.) Your Workspace is a Place to Connect and Collaborate
Startups are a marathon of effort that require an all-in mentality and commitment to doing the hard work to push forward. Though it is important to stay lean and bootstrap resources, you could also lose out on productivity, team building, and innovation if everyone is working remotely and don’t have a central space to congregate. We have come a long way regarding resources that allow for seamless communication across teams, but nothing replaces the ability for your team to communicate face to face. A team that bonds, builds deeper camaraderie, and develops a sense of community within a space they can call their own, is generally more motivated. In the context of a co-working space, having the energy and variety that comes with sharing desks alongside other startups also provides opportunities for new potential partnerships and innovations.
3.) A Co-Working Space Helps With Networking
Specifically regarding co-working spaces (likely the first office you’ll have), many build a name for themselves in the startup community by putting on events such as workshops, panels, and other programs that are useful to entrepreneurs. Additionally, co-working spaces and other offices geared toward startups have a deeper understanding of the community they serve regarding local investors and other groups that could help your startup progress forward. Though you could attend meetups as a company without joining a space, being associated with a workspace affords you insight, access, and information that benefits your entire team and provide a channel for continued development and education. Additionally, being a member of a coworking space also enables you to put on events that can help build awareness for your startup in the community.
4.) A Dedicated Space = A Healthy Balance Between Work and Home
When you and your team decide to move on from coding and making sales calls in sweatpants and snuggies, you also have an opportunity to encourage a healthier regime overall. Having an office to commute to, along with the option to stock a kitchen with healthy snacks can make a big difference in the overall quality of life your startup team experiences on a daily basis. Rather than competing with the constant grinding of coffee beans, blenders, and people to your left and right shouting at your local coffee shop, you can instead do what you need to do, unhindered, in your own space. Though a workspace can be one of the more capital intensive expenses your company will have, the return you get in overall satisfaction from your team can make all the difference on the long road to building your startup.