The idea of co-working is still novel and exciting, and it offers flexible and reasonably priced solutions that have helped countless firms get off the ground and many entrepreneurs advance their careers. Co-working does, however, have its place and time, just like any other company model. These are areas where new firms start or pivot, but they frequently struggle to meet the changing needs of organizations as they develop and prosper.
There comes a point where co-working facilities are no longer a viable fit for many organizations. Fortunately, there are distinct and affordable approaches to go to the following stage in order to satisfy the shifting needs of your company. Here are 10 indicators that it’s time for your company to switch from a comfortable co-working location to a more welcoming and polished private office.
1. You Require More Isolation
Because co-working facilities include shared rooms, open floor plans, and frail walls, privacy is a great concern there. This becomes an even bigger issue when you need to have private meetings with clients or even phone calls when you need to discuss sensitive information that isn’t intended for everyone to hear. A private office can assist you in protecting the privacy of client information, and occasionally having access to a private conference room can offer a more secure setting for crucial discussions.
2. You Are Distracted Right Now
Co-working locations are great for networking and coming up with fresh ideas, but they may not be the best place to focus or buckle down to finish projects on a list. It might be time to look for an alternative place to work if you and your team feel distracted in a co-working space’s busy and sociable atmosphere. When you need to strike a balance between in-depth discussions and deadline-driven work, it is typically time to relocate to a private office.
3. Your Office is Expanding Dramatically
Simply outgrowing the space is one of the most frequent causes for which businesses switch from co-working to private offices. Growing a business is fantastic, but it also comes with some growing pains. You’ll need more space when you bring on more staff so that everyone can work comfortably and effectively. Extra income that may come along with business growth is money that you may put back into your own company to maintain and expand on your current success.
4. The Benefits Aren’t Worth the Price
Co-working spaces frequently prefer to brag about its appealing amenities, such plush couches, fully-stocked kitchens, and quick WiFi. But there is a cost associated with these benefits, and sometimes the cost is excessive given what you receive. You should account for escalating membership prices in your budget as a result of the growing popularity of co-working facilities. You might save money by getting your own office space rather than remaining with your usual co-working facility, especially if your staff is growing.
5. You Aim to Establish an Office Culture
Never downplay the value of company culture, particularly when your company expands and enters new markets. Co-working facilities rarely have a homey atmosphere and provide few options for customization. However, having a private office allows you to portray the image you want to your staff, keeping them inspired, motivated, and driven. Additionally crucial to luring in future talent is company culture. Working out of an office that embodies your brand and working culture will assist you draw in candidates who will get along with your current team and advance operations.
6. Your Team Is Having Challenges
Spend some time objectively evaluating the accomplishments and difficulties of your current team and paying attention to their worries. You will undoubtedly hear complaints about everything from noise to technological problems to congested circumstances if your business has outgrown your co-working space. You depend on your staff every day, so do your best to meet their demands for the benefit of the whole business. Employees who are struggling are not productive employees, but perhaps a private office could ease some of their difficulties.
7. You Are Sick of Minor Complications
The logistical hassles of owning or renting your own office are often associated with co-working facilities, although this isn’t always the case. You might have annoyances on a regular basis if you co-work, such as having to reserve conference rooms that are always booked or getting access to shared equipment when you really need it. While in a co-working space, it might be difficult and frustrating to just find a quiet place to make a phone call. Over time, these minor inconveniences can really add up, and when they do, it’s almost certainly time to move on.
8. You Need to Appear More Professional
Even if a large portion of today’s business is conducted online and virtually, having a prominent business address and a local phone number still has some influence. These are the items that support your career’s professionalism and credibility with coworkers, clients, and customers. You might continue to use your home address and cell phone number for professional contacts while working from a co-working space. However, if these actions do not increase the visibility and respectability of your brand, it may be time to consider a private office.
9. You Want to Bring In More Clients
There are several strategies to increase business, such as launching a new marketing initiative or participating more actively on social media.
However, when you have your own private place to meet with possible business partners and clients, growth tactics are much easier to implement. You are more likely to draw in important customers if your firm name appears on a business listing and your business cards have your actual address.
10. You Want to Put Your Team at a Great Location
You could be thinking about switching from a co-working space to a more centrally situated private office because nobody likes a long commute. If your present co-working space is in a more remote area that new employees find challenging to travel to, for instance, you might want to think about relocating to a commercial office space in Ortigas Central Business District.
Choosing the Correct Location for Your Move
It can be difficult to choose between a co-working space and a private office, but we can provide you with a solution that will allow you to have the best of both worlds.
If co-working is no longer the best option for your company, get in touch with us right away to request a quotation or learn more about how to discover the ideal location.