Freelance professionals often struggle with where to work. While some professions lend themselves better to structured office buildings, fluid professions that rely solely on an internet connection and a computer can perform their work anywhere in the world. Shared office spaces may seem like unnecessary overhead, but for many entrepreneurs they result in increased production, profit and work-life balance.

shared office space
photo credit: skOre_de

1. Separate Home and Work

While working from home has its perks, managing a household and a business do not often go hand in hand. A home office is great at first, but over time home and work can merge. Suddenly, coding sessions are interspersed with laundry, and business phone calls are interrupted by family members. A shared work place takes these distractions away. While working from home may still be ideal on some days, for meetings, phone calls and periods of intense focus, a shared work space provides a safe place for business dealings.

Anyone managing their own business will naturally have issues separating work life from home life. Supporting and sustaining a business takes work and dedication. Unfortunately, many entrepreneurs fail due to burnout, or are forced to scale back when relationships with family begin to deteriorate. Shared office spaces create necessary boundaries with the work/life balance. The physical act of removing oneself from the home and entering a space specifically for work can help ease this tension.

2. Network and Collaborate with Fellow Entrepreneurs

The old adage, “It’s not what you know, it’s who you know,” is never more true than in small business. Clients are looking for turnkey solutions to fulfill their business needs. It’s simply not enough to offer graphic design when clients are looking for a fresh, new website with great SEO content. Mutually beneficial relationships are a key to business profitability.

Shared office spaces are a fantastic way to meet and form bonds with fellow entrepreneurs. These spaces house businessmen and women from all industries. Not only will they be able to offer you valuable ideas and solutions, but they may find themselves needing your service as well. Simple water cooler chat may lead to a business partnership and innovation.

3. Present Stability

While the world has gone online, many businesses are still leery of conducting business with an avatar or a website. Presenting yourself as an established company starts with an address. Shared office spaces often have a reception area, board rooms and open work spaces that provide an excellent place to meet and impress current and future clients.

4. No Lease Required

Renting out an office building, paying utilities, setting up answering services and dealing with the daily tasks of an office manager is not a role most entrepreneurs want to step into when launching a business. Not only is the cost restrictive, time that can be spent on expanding and growing the business is wasted. Shared office spaces take all the hassle out of managing an office, providing simply the perks of having a work space.

Many shared office spaces offer flexible rent options that range from monthly to yearly, even offering specific office hours. Entrepreneurs who are unsure about whether a shared office would benefit their business may opt to rent the space for one day a week to test the waters.

5. Increased Production

Working at home is often preferred by new entrepreneurs because overhead is so low. Most homeowners have an extra room or space to set up a home office. What they don’t take into consideration, however, is the time lost through chores, interruptions and other time wasting activities that are easy to fall into when distraction is the next room over.

Jobs that could be done from home are still taking place in offices all over the world. That’s because employees who wake up, get dressed and physically remove themselves from their homes to go into the work world get more accomplished. The same is true for entrepreneurs. While sitting at the home office in your pajamas sounds fun, it often results in less work being accomplished. While not true for all, many would benefit from having an actual office to conduct work.

6. All the Perks

Shared office spaces have taken off in the past decade. What used to be a drab room of offices and cubicles has morphed into professional workspaces that include conference rooms, receptionists and phone answering services. Business needs that simply aren’t affordable in a home workplace are part of the package in shared work spaces.

The monthly rent for a shared office space isn’t solely going to rent the space. Shared work spaces provide a bevy of resources and benefits that aren’t available in a home office. Consider your business needs to determine if a shared office space will help you succeed.