Workspace : Home vs Co-working Space

Workspace : Home vs Co-working Space

Workspace: Home Vs Co-working Space
If you have just set up a business, the type of workspace is one of the major decisions you would be facing. You could work from your home, or share space with other entrepreneurs, freelancers, and independent professionals, in a co-working space. Each workspace comes with its own advantages and drawbacks. Understanding each model can help you choose a set up that works for you.

Cost Factor
Cost is a major factor, especially if you are just starting out. At this stage, the focus is more on saving money. Opting for a home office could be a cost-efficient option. You’ll be using your personal space, which means you save on fixed expenses such as such as rent, long-term office space lease, and daily commute.
However, if you are looking for a professional setup without the prohibitive costs that go with it, a co-working space could be ideal. You get professional office space with facilities such as desks, copiers, and the Internet. Some spaces have meeting rooms and recreational facilities too.
You can pay for co-working spaces on a daily basis or obtain monthly passes. The rental depends on the type of work, duration and the facilities you require. Cost can range from AUD $400 to AUD $1600 per month for a full-time plan.

Method of Working
It’s only you, the Internet, and the phone when working from home. There are minimal distractions, which encourages productivity. But, this working environment can turn lonely. As you are in your own company, there is also the need for constant motivation to complete your tasks.
In a co-working environment, you get to meet people from different professional backgrounds. You get to learn about each other’s professions and there is an increased opportunity for networking. Achievements of fellow professionals can motivate and inspire you to improve your performance. You could also extend or receive professional guidance to fellow entrepreneurs, aiding each other’s business growth.

Distracting Elements
Your home office may be ideal to lose yourself in work if you are all by yourself. With family members around, a home office can get distracting. You may also be distracted by numerous household chores such as cleaning, washing, and cooking.
A co-working space is a professional environment, which motivates you to complete the job at hand. But, spending more time at coffee rooms and indulging in recreational activities can affect your productivity.

Work-Life Balance
Work can dominate your life when you are a budding entrepreneur. Spending quality time with dear ones is essential. The type of workspace you choose can help retain this essential balance.
Working from home gives you the comfort of a familiar space. You are always there with the family. However, it is easy to let working hours overlap with your personal time when working from home. It is essential to not let work and personal time overlap.
A co-working space, with its traditional office-like setting, lets you define set working hours easily. But, with co-working spaces offering 24 x 7 services, it can be equally easy to let work dominate. A disciplined routine is crucial.
The kind of workspace you choose depends on your requirements and personal working habits. Choose a set up that works for you best. 

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