In many cities, co-working spaces are all the rage and I think they are the next step to lean workplaces. If you’re not a small business owner or haven’t sought out a new place to work, you may not have heard of them.
As more and more people start businesses, the market for co-working spaces continues to grow. The idea is for a group of Entrepreneurs to pool their resources to create a workspace they can all share. These spaces sometimes start out with an established group and other times they set up shop and attract businesses to fill their available desks and offices.
There are the large, international co-working organizations like WeWork, which also has a strong online network for those who aren't close to one of its physical offices, and more local ones like the CoLab in Roanoke, VA and Modworks, Thrive, Shift, and Assembly in Denver, CO. (Many of the Denver co-working spaces can be found through the Denver Coworks website.) Each one has their own vibe. Some are dedicated to students, creative types, tech startups, etc. Others are open to anyone.
We’re also starting to see cities getting involved in projects like The Commons on Champa in Denver. At The Commons, you can meet with a Small Business Advisor from the Denver Small Business Development Center or someone from the U.S. Patent Office. The first floor is home to the Innovation Lab (a free co-working space for Entrepreneurs), a multi-media room, conference rooms and a larger event space for things like networking events and workshops. To top it all of, the WIFI is best in class.
Co-working spaces usually have a variety of amenities, such as free WIFI, printing and copying services, snacks and drinks (often for free), on-site yoga classes and massages, and even pet friendly policies. The CoLab in Roanoke has a state-of-the-art recording studio!
If you decide that co-working might be for you, it’ll be just a matter of figuring out which one fits you best. I suggest touring or trying out a few before deciding on one. All the communities I’ve have contacted have been very gracious and willing to answer questions.
Besides all the fun and convenience of sharing a space, there’s also the huge networking benefit. If you’re a little friendly and curious about what others are working on, you just might find yourself talking to a future Client or Vendor, a fellow rock climbing enthusiast, or someone who knows someone who could help your business.
So, how is all of this Lean?
1. Simplified expenses
Instead of thirty Entrepreneurs renting thirty offices, buying thirty printers with the accompanying paper and ink cartridges, and paying utility bills, one organization takes care of all of that. Now, those Entrepreneurs can focus on product development, marketing, or whatever they need to do. All they have to do for their office is pay one bill, and sometimes put a load of dishes in the dishwasher or answer a question from a new Co-worker.
2. No more driving to the office supply store in the middle of a big printing job
Someone else is responsible for replenishing whatever office supplies are provided by the co-working space. That means that you won’t have to worry about running out of the things you might need to get your job done. Almost anyone who has worked from home has been surprised at least once to find that the ink cartridge is empty when they really need it. Talk about wasted time!
3. Did I mention networking?
When you’re working in a shared space, you make connections with the people around you, some of whom will become key people for your business. Your Graphic Designer is down the hall, along with your Tax Accountant and your Chiropractor (yes, I’ve seen a little medical office in a co-working space). That means you won’t need to travel to meet with any of them, just walk down the hall.
All of these things mean you’ll spend less time on the administrative and maintenance tasks related to your workplace, and traveling to meetings.
When you think about your business, I’m sure you don’t relish in the opportunity to negotiate a office lease or pay the electricity bill. Instead, you think of the passion that got you into your industry – the hobby that became your day job or the fascination that landed you in the right spot to become a highly sought after expert in your field. You want to develop new products and services, motivate your team and earn new Clients.
When you're spending less time on paying bills and buying office supplies, you have more time for all of those things you love to do, or for more time off. Co-working helps you do exactly that and that’s how it’s lean.