Co-working spaces are membership-based workspaces that allow diverse groups of freelancers, small businesses, other remote workers, and other independent professionals to work together in a shared, community setting.
As per Julia, [Source (1)]
““The idea is simple: independent professionals and those with workplace flexibility work better together than they do alone. Co-working spaces are about community-building and sustainability. Participants agree to uphold the values set forth by the movement’s founders, as well as interact and share with one another. We are about creating better places to work and as a result, a better way to work. “”
Co-working spaces have taken the office rental industry by storm with their unique model. They are growing exponentially year by year, and it is important to understand the essence of the business that drives its growth. One of the reasons that have led to the growing popularity of coworking spaces is that workers still seek environments that stimulate networking and collaboration possibilities. Research also states that employees thrive in a coworking environment.
The transformative movement that coworking has become is built on five principles that convey its true essence: collaboration, openness, sustainability, accessibility, and community. Initiated by the creation of Citizen Space, these values have been interpreted by dozens of coworking spaces across the world, and have been a key propellent to why coworking has become a global business trend.
Collaboration is one of the indispensable foundations of co working. People from various industries are welcomed in a coworking space, and they are often viewed as collaborators who work with their physical space as well as other community members. The predominant types of professionals in a coworking space are freelancers.
The coworking space offers a safe place so that all workers feel that they can reach out to others in the space and ask for guidance on specific topics. This is beneficial especially for startups, where the task of creating a business comes with its own unique set of struggles and confusionCollaboration is essential in overcoming such struggles..
Freelancers and start-ups greatly benefit from working in a coworking setup and are incentivized to work at these spaces because they know that they will be able to give and receive help on a mutual level. Such exchanges and growing collaborations also offer them the opportunities to learn from other coworkers and to collaborate and work with each other. Hence, the opportunity to collaborate and to build mentoring relationships is the main reason for coworking spaces to have rapidly expanded globally.
Co-working spaces attract professionals with an open mind when it comes to other members of the community, allowing everyone to feel like they fit in. In other words, people who work in a coworking space are generally prepared to accept what’s unexpected. In a coworking space, who you will work next to, what you will learn, or what you will get involved with from day to day is always a surprise.
Openness is also imperative for people to be themselves and focus on achieving their goals. A coworking space promotes openness and allows coworkers to develop trustful relationships with each other.
Another reason for the success of coworking spaces is the common mission to remain sustainable, where the goal is to hold a balance between giving and receiving with coworkers. It allows the members to support, nurture and lift each other to greater levels of success.
Co-working spaces provide coworkers with assets to help them grow their business, and also inspire a culture of giving back what is received. This awareness of sharing information and skills with other coworkers has been a large factor in the popularity and growth of coworking for freelancers or startups.
Co-working spaces prioritize both physical and educational accessibility. The physical location of the space is usually in a good area for daily activities, such as food options, cafés, gyms, and libraries. As part of educational accessibility, coworking spaces strive to provide opportunities for their coworkers to grow their knowledge if they desire too. Invitations to events, workshops, and speakers are often extended to members of the space.
Accessibility is one of the core values of coworking spaces because it provides their coworkers with an even greater chance of growth and success.
Professionals who work in a coworking space frequently collaborate even if they work in different industries. Together, expand their knowledge by attending lectures and presentations, as well as by socializing with each other during such events.
A community in a coworking space creates friendly bonds between members. The success of coworking spaces has been largely due to the community atmosphere that focuses on relationship building and fostering interactions between coworkers. These friendships and mutually beneficial professional relationships formed often allow further collaboration.
As per Gretchen Spreitzer, Peter Bacevice, Lyndon Garrett, [Source (2)]
“Importantly, however, socializing isn’t compulsory or forced. Members can choose when and how to interact with others. They are more likely to enjoy discussions over coffee in the café because they went to the café for that purpose – and when they want to be left alone elsewhere in the building, they are. And while our research found that some people interact with fellow coworkers much less than others, they still felt a strong sense of identity with the community. We believe this comes from coworkers knowing there is the potential for interactions when they desire or need them.”
Eventually, a tight-knit community is formed through shared experiences.
To conclude, these are the core elements of a coworking space, and for it to be successful, the managers who run the coworking space should invest and promote these values.
In conclusion, these core principles of the coworking model are what sets them apart from other spaces, and what has sparked it to be the 21st century’s way to work. To be successful, the managers of the space should invest in and promote these values.
As per Michael Everts, [Source (3)]
“Co-working is much, much more than a different way to lease a place to work. It’s a transformative global movement that’s built on five core values which, when considered together, embody everything that coworking really is.”
Source1 – https://www.coworkfrederick.com/coworking-value-sustainability/
Source2 – https://hbr.org/2015/05/why-people-thrive-in-coworking-spaces
Source3 – https://sharedspace.work/core-values-coworking/
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