Shared Office vs Private Office — What to Choose?
You want to relocate your business but you are still considering your office space options? In that case, GoWork can help you out. Maybe you are looking at the shared office vs. private office but you have not opted for any of the two. Well, you can look at the pros and cons of each one before you decide.
Benefits of the Shared Option
For most small and medium scale businesses, cash flow is vital. You need money to fund your business operations so you do not want to tie up capital in renting an expensive office. In this case, you can simply go for the shared office. This way, you have a lot of spare cash for other important things. Another advantage is that you do not have to pay one year’s rent in advance. Just pay monthly and you will enjoy the deal.
One huge advantage of the shared option is that it brings people together. You have a number of people in different fields sharing the same office. You meet people, you mix up with them and you discuss mutually beneficial matters. This situation leads to a wide network of friends and this can bring you more business opportunities.
Sharing your office comes with many benefits. You get to enjoy the company of other like-minded professionals and you even get some great ideas from them. In addition, your shared office also gives you perks like free food and coffee as well as networking events.
The fact that you are sharing does not mean you have to give up your privacy entirely. You still have access to meeting rooms, private offices and private workspace. In effect, you have the best of both worlds if you take this smart option.
Why go private?
The great thing about this option is that you have control over your office space. You choose the specifications you want and you arrange your furniture to suit your taste. You also have the freedom to decorate the office in accordance with your style.
In case your outfit handles sensitive information, you should be careful. Do not print or photocopy vital documents on the shared printer or photocopier. Get a shredder and destroy all documents that may compromise your privacy.
One problem with the shared option is that your staff may find it hard to focus. They might get involved with activities in the nearby offices and some of them might get poached by rival companies.
Having your own office shows style and gravitas. It is an indication of seriousness and commitment to the business. Having said this, there is no law against starting with the shared option even as you aspire to rent your own private office.