Being an entrepreneur is an exciting venture for many people. The thrill of coming up with an idea, business, or product that could be considered unique, original, and “first-to-market” are a few of the many aspirations entrepreneurs have. Perhaps, though, the biggest positive point of being an up and coming entrepreneur is the flexibility to work in an environment that you feel fits best with your style and creativity. However, choosing that location can be a difficult task.
Your top priority would be to work in a workspace where you can be the most productive. But what kind of workspace is that? Is it one that entails a coworking office space or from the vicinity of your own home? Both options have positives and negatives as to which one might be better. To help make your decision a little easier, we have found both pros and cons to each workspace.
Working in a coworking space can be an excellent option for a predominantly remote or freelance working individual. They often provide people with a chance to network with other individuals who are in the same type of career field as them. That capability to socialize and interact with others on a daily basis can lead to motivation and creativity, as well as lasting connections that can benefit both you and others as your careers progress. Another positive to coworking spaces is the flexibility that comes with it. Many coworking spaces offer month-to-month leases, as opposed to traditional offices spaces that require multi-year commitments. This makes it easy for someone to hop from one coworking space to another if they feel they have grown tired of the environment they are in or feel distracted and thus can’t get any work done.
As great as coworking spaces can be, they do come with their own set of disadvantages. One of the biggest ones being the lack of privacy a coworking space offers compared to what a home office would provide. Privacy is very important for entrepreneurs in order to be able to catch up on work and one’s thoughts. It can be tough to find consistent privacy in a coworking space. Not to mention, it is a lot easier to become distracted and sidetracked from your daily tasks. Coworking spaces tend to have no quiet spaces unless you are willing to pay a premium for a private office membership. This is often a significant detriment for many when they explain the negative aspects of working in a coworking space.
If you are deciding between a home office versus a coworking space, you might not think there are a lot of positives (aside from being so close to your fridge full of food.) In fact, there are quite a few pros to working out of your home. Perhaps the biggest and the cheapest reason is that its “free” to work from home. You don’t have to pay another fee to work in a coworking space when you decide to work from home, Another positive is the lack of a commute to get to work. It’s frequently cited that one of the people’s favorite things when working from home is the lack of a commute. The capability to get out of bed 10 minutes before you log on and officially begin your work day is enticing for many young freelancers.
If your business requires you to meet with clients on a regular basis, then working from home might not be ideal. You will constantly need to find different venues or locations where you can have professional meetings. In a coworking space, there are often conference and meeting rooms readily available to host meetings and clients, thus providing an image of professionalism. Another con to a home office is the isolated feelings one can feel every day. It is important to remember that while working from home might be nice at the start, it can turn lonely quickly if the majority of your work consists of staring at a computer screen all day.
The decision between a coworking space vs. a home office is up to you and the type of business you conduct. Both have their positives and negatives, so it is important to think about each of them carefully and decide which type of environment will make you the most creative and productive.