Sep 19, 2016, 11:51 AM
Flexibility, community and amenities—but not much privacy.
Tech startups have a unique and rapid evolutionary path. Their delicate financial footing and thirst for quick change make finding the right (or first) workspace a bit of a challenge. Why commit to a long-term lease and invest in furniture when you don't know what (or where) the next six months will bring?
Coworking has presented a solution to this startup quandary, offering a pay-as-you-go alternative to traditional office space. More tech companies are flocking to shared space providers as they scale up from coffee shop to full-tilt lease.
While this transitional environment offers all sorts of benefits, there are still a few drawbacks to consider.
How do you know if coworking is right for your business?
Budget and workstyle certainly matter, but a huge factor in gauging your coworking compatibility is your size. As your company evolves, your needs and priorities change. Which means the pros and cons are tied pretty closely to your growth stage.
See below for the pros and cons of coworking during these primary stages of growth to decide if sharing office space is right for you.And if you need a primer on coworking (what it costs, how it works), visit this profileon coworking in Chicago. There's some city-specific research, but the overview still stands.
For help scouting out your next workplace, visit our guide to finding office space. Learn how to choose the right building, negotiate a lease, survive a build-out and more.