If you need to break out of your home office, but don’t want to commit to a restrictive and expensive office rental, then there is another working concept that could suit your startup - coworking.
In case you’ve not heard of them, a coworking space is a communal office where you can rent a desk or an office on a flexible basis. You can pop in with your laptop on any day you want, or you could set up your business on a more permanent basis.
Coworking is a great opportunity for the startup sector. It’s more affordable than a permanent office space, you can grow your space as your startup grows, network with a community of like-minded souls and some spaces offer a variety of services that can help your business grow.
You’re also spoilt for choice in the New York area with hundreds of such spaces populating and popping up the city - you can check out the best coworking spaces in NYC, according to Time Out, here.
I spoke to the #1 NYC coworking space The Farm SoHo from the list to find out more about how startups can truly embrace every opportunity such spaces offer them. Here are their top tips:
“Visit a space before you sign up”
There are a huge range of coworking spaces in NYC. Some just offer a desk where you can fire up a laptop, others are more suited to startups and offer a range of services to help you build your business.
It’s important to do your research and shortlist those spaces that suit your startup’s requirements. Check out the pricing and facilities on offer - as well as the location. Lucas Seyhun, co-founder at NYC-based The Farm Coworking, said: “We set up in the SoHo region because it’s the Startup Tech Alley of the city and it’s close to some of the world’s hottest tech companies, including Square, Meetup.com and Squarespace.”
Then, drill down and see if a space offers access to startup funding rounds and other business building services. Lucas added: “Check out a space’s event schedule - this is a great way to see if it offers the sort of things that would benefit your startup. And make sure you book a visit with the space’s manager before you sign up - it’s important to meet the community you will be working in and to see if it’s a fit for your startup and its ethos.”
“Network to help your business grow”
Coworking spaces attract a diverse crowd of freelancers, entrepreneurs, startups and big businesses. This community is a valuable asset to your startup - so make sure you connect and network to find any potential opportunities and collaborations.
The most obvious way to do this is to introduce yourself to your fellow coworkers during your first few days. You don’t have to go in with a killer sales pitch - just say hi, tell them what you do and find out about their work.
“A really good way to boost your presence in a coworking space is to attend some of the events on offer. It doesn’t matter if it’s a product launch or a free drinks night - it’s about meeting people and telling them about what you do.”
“Embrace Collaboration As a Two-Way Street”
As you network across your coworking space, you can see if there’s potential for a work exchange. You could also see if there are any freelancers or flexible workers that may be a fit for your company as it grows.
Another way to collaborate is with the coworking space itself. Lucas said: “We often promote the startups using our space with a blog post that also goes out on our weekly newsletter. It gives use some great content and the startup some added exposure. We are really passionate about helping the startups in our space grow and extend their reach.”
“I have set up and run successful businesses in retail clothing and commercial real estate, so as a serial entrepreneur myself, I love sharing my experiences with our startup community to provide mentorship and help them grow their business,” Lucas added.
“Plan an Event”
Coworking spaces often double up as unique event spaces in NYC. Not only do you get access to a readymade audience, the space’s team can also help you organize your event and tailor it to the space.
You don’t need to host a glitzy show-stopper - a simple lunch and learn or a workshop where you share some of your expertise is a good place to start. “It’s a platform to show the community what you do and what you do best,” Lucas added.
If you want to do something more in-depth, then you could run a hackathon to try and find a novel solution to a problem your startup faces, and meet the local developer community. You could unveil your latest product or service from your coworking space - or do a pre-launch where you get initial feedback on your ideas from your fellow coworking members.
The options really are endless and a coworking space gives you the seeds your startup needs to grow and succeed in New York and beyond.
