Is Coworking a Good Strategy When Doing a Startup Business?

Age doesn’t matter where strong business acumen is concerned. A good example of a young entrepreneur is no less than Mark Zuckerberg, who, at the age of 19, launched Facebook while in his college dorm room.

Time and again, Zuckerberg has said that he had no idea what he was doing, seeing as he didn’t know much about business then. Basing on the success of Facebook, it’s apparent that he was able to figure out what he needed to do in order to run a company. As of 2015, the now 31-year-old has an estimated net worth of $39.6 billion, making him one of the wealthiest individuals of our time.

Lessons from Mark Zuckerberg

Zuckerberg’s example shows nothing is impossible if you put your heart and mind into something. It doesn’t matter if you’re barely out of school or you’re seeing your twilight years dawning on you. The determination to succeed is enough of a positive motivating force to see you through. Discouragement is all part of the game, so don’t let it get the better of you. Risks and sacrifices are part of the world you’re moving in. Having the determination to go on will help you stay on course.

In addition, as an aspiring entrepreneur, you need to grab every opportunity presented to you to learn more about the world you’re dipping your feet in. Training, short courses, books, the Internet, seminars – all these can help you hone and sharpen your business acumen.

Don’t Be Afraid to Try New Things

While you can follow and keep in mind countless tips for first time entrepreneurs, boldness in trying new things could prove to be a windfall.

For instance, there is a concept known as coworking, which involves sharing a work environment, like an office, with other people, but working on independent activities. The same company or organization does not employ those who cowork with other people. The idea for coworking started about 10 years ago, but it wasn’t until after 2010 when entrepreneurs from Europe, the United States, India, and some other countries in Asia embraced the concept.

Coworking and Your Startup Business

How does coworking factor in to your startup business? Well, it’s safe to assume that as a first-timer, you haven’t formed a clout yet. Coworking could be a wonderful opportunity for you to meet other entrepreneurs and establish connections. More than that, though, there are other advantages to be had from coworking.

  1. You save on rent money

Rather than pay for lease on your own (think about advances, deposits, and whatnot), all you need to pay for, in most cases, is a monthly coworking membership fee, often around $50 a month. $600 in a year is a small price to pay compared to the amount of actual rent money you were able to save.

  1. You build relationships

Because you share your workspace with other entrepreneurs, you get to meet new friends, prospects, clients, and possible partners.

  1. You expand your network

You’re bound to meet other entrepreneurs or professionals in your industry. Together, you can form alliances or partnerships for your mutual benefit.

  1. You can thrive in motivation

The energy that thrives in a coworking environment is infectious. Such atmosphere can motivate you to be more productive and creative.

Indeed, if you want to succeed as an entrepreneur, exploring new concepts like coworking can prove to be a good strategy. Be bold and be determined, and watch yourself succeed.

Reference: Morris Edwards is a content writer at Singapore Company Incorporation Consultants Pte Ltd, he writes different articles related to business startup, one of his article “4 Government grants recommended for new startups” can be read at www.companyregistrationinsingapore.com.sg blogsite

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