The Empire Business Centre
The Empire Business Centre

Coworking Office Spaces: Turbo-Charging Startups

The start-up culture in India is beginning to get deeply entrenched, especially with initiatives like ‘Start-up India, Stand up India’ being rolled out. The ambitious and youthful population of India, that is experiencing firsthand the benefits of entrepreneurship, is increasingly more willing to take risks and pursue their entrepreneurial dreams that previous generations often stayed away from. Coworking offices provide the near-perfect environment for start-ups to seed and flourish, thanks to the typically fluid, dynamic and high-energy environments they help create.

One key success factor for most start-ups is to control cost and be quite frugal with all discretionary/ luxury spend. Office rentals can potentially be one such significant overhead and operational expense that businesses try to control, especially in their very early days. While basements and spare garages are part of Silicon Valley folklore and have romanticized the challenges of running a start-up, the availability of co-working spaces probably make these “extreme” measures unnecessary in present times. Similarly, very small business or solopreneurs could opt for a virtual office instead of operating from a physical office space; however, it may not be the most appropriate option for certain types of businesses. A coworking office presents a much better alternative in such cases.

When considering cost-savings, it is important to remember that one is saving significantly not just on the office rental when opting for a coworking facility. There are a whole bunch of other incidental expenses that a start-up could save money on- Internet & communication charges, refreshments, cleaning & maintenance, to name just a few- when compared to operating a separate, independent office in a commercial centre.

However, what makes a coworking facility even more appealing goes beyond saving money; it is about the opportunities that operating from such an environment offers. For example, one start-up can “barter” its services to another business operating from the same facility. It is not uncommon for a digital marketing company operating from a co-working space to provide its services to an accounting & corporate services firm in return for the latter taking care of its accounting needs.

Our experience also shows that users of such a facility often find a captive ‘market’ of potential users/ focus groups/ testers who can help with instant and honest feedback from people who are physically close-enough to you but are sufficiently detached to give you actual user feedback.

Then, there is the free flow of ideas that you get from multiple businesses operating in close proximity. In business, especially, in the realm of rapid-prototyping and high-speed iteration, early-stage start-ups, ‘many heads’ are literally better than one. The power of ‘outsider ideas’ cannot be overstated, whether it be in product or business development or any course correction.

Last but not the least, a coworking office offers the chance to forge strong relationships and friendships with fellow entrepreneurs. These relationships are enriching professionally, business-wise and at a personal level. For all you know, you might be working beside the co-founder of your next start-up!

Want to find out if a coworking office in Mumbai (either at Andheri or Lower Parel) is the right option for your business? Talk to one of our expert consultants, who will guide you to the best workspace solution for you. Contact us now!


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