Dispelling The Top 5 Most Common Misconceptions About Flexible Workspaces
In this ever-changing environment, flexibility is key to sustaining business so it is no surprise that flexible workspaces are becoming increasingly popular with the global flexible workspace market expected to expand at a CAGR of +12% over the forecast period 2020-2026. Its projected growth and the increasing market is incredible, so how come many entrepreneurs and businesses have held back from using flexible office space?
Here, we tackle and dispel the top 5 most common misconceptions about flexible workspaces and reveal why flexible workspaces are something you should keep in your back corner for business success.
Misconception 1: Looks Unprofessional And Unestablished
There is a level of trepidation attached to the idea that without your business name on your office building, clients may presume your business is unprofessional or unestablished. This is not the case at all. What matters to clients is not the brand logo slapped on the front of a building, yet it is the service and value that is delivered. Instagram, Uber, and Spotify all started at coworking spaces and their value was never diminished because they operated in a flexible workspace. It worked to their advantage as potential clients saw them as forward-thinking, risk-mitigative, and a business that seeks creative solutions and a collaborative community. Flexible workspaces offer a wealth of high-quality facilities, resources, and superior customer service, never failing to leave a long-lasting impression on members and their clients.
Misconception 2: Coworking And Flexible Workspaces Are Only For Startups, Freelancers, And Solopreneurs
Whilst originally, coworking and flexible workspaces appealed to small startup teams and ‘solopreneurs’, large companies and multi-national enterprises are now seeing the value that flexible workspaces can offer and how it can fit into their flexible work arrangements. Organisations have learned that employees are happier and more productive with increased flexibility at work and there is less of a need for a large real estate footprint in today’s market. Flexible workspaces offer various options suitable for the needs of any business. For example, if you are an Australian business and find that you have a growing customer base in Asia, you may want to expand to meet the demands of those new customers but the costs and risks involved in setting up an office are too great; this is where a flexible workspace can assist you. Quickly open a fully-furnished office using a flexible workspace provider and start working, all while enjoying 20% to 40% lower costs than a traditional office space; all the business-grade amenities, utilities, and services are already established for you. Flexible workspaces are accessible, affordable, risk-mitigative, and reap all the benefits of a traditional office space without the long leases and comprehensive expenses.
Misconception 3: Coworking Is Noisy And Distracting
Coworking spaces are a hub of innovative individuals or teams wanting to work, connect, and be productive. As most people there welcome the sound of spontaneous conversations and ideas bouncing off at team discussions, there is a mutual understanding of respect within the community that people are there to work so noise levels are kept low. 74% of professionals felt a boost in their productivity when working in a coworking space as it creates an environment of progress and activity. When complete silence or privacy is needed, flexible workspaces offer private office suites, phone booths, and meetings rooms, giving you the options to have the best of both worlds.
Misconception 4: Flexible Workspaces Are Expensive
This misconception derives from those comparing the cost of working from home to the cost of rented workspace. Working from home is indeed cheaper than working at a flexible workspace, however it can also cost you in more ways than one. Many remote workers report feeling isolated, struggle with juggling the work-life balance, and sometimes feel their productivity and creativity can suffer. Compared to traditional office leases, flexible workspaces are cheaper and will not only save you money, but time as well. You can tailor packages to meet your exact business needs and requirements, paying only for what you need and therefore minimising unnecessary expenses. With simple monthly fees covering all outgoings, office equipment, telecom services, administrative services, cleaning, etc. expenses, setting up your dream office can be done within budget. It is more than just an office you are getting, it offers a community, events, networking opportunities, and more benefits that you wouldn’t get through a traditional office lease.
Misconception 5: You Cannot Customise The Workspace
Not true, it all depends on the specific serviced office provider! If you would like to personalise your space and provide a unique experience for your clients in line with your brand, then you will have to do some research and shop around to find a provider that does so. Serviced office and flexible workspace provider, Victory Offices, offers a fully customisable fit-out option for your private office suite. The process is seamless and personalised, from having a meeting with a design consultant to establishing the brief, to the formal quotation and finally the setup and handover, the process is that simple. If you’re after that personal touch, find a serviced office provider that is open to office customisations.
Sometimes, changing up the way you work can feel daunting because of the unknown yet it can also turn into a decision that you won’t look back on and regret. We work for such a long period of our lives and it is beneficial for you and your business to find the right workspace. Flexible workspaces offer many different solutions and it is the flexibility and collaboration of these spaces that will see your business through.