When looking for a suitable workspace, startups can easily fall into the trap of making some common mistakes that can be detrimental to their business in the long run. Let’s explore the top 10 mistakes that startups make when selecting a coworking space and how to avoid them.
1. Not Researching Enough
One of the most common mistakes that startups make is not researching enough before choosing a coworking space. Location, pricing, amenities, and services offered help to make an informed decision. Taking the time to research will help you find a space that meets your requirements.
2. Not Knowing Your Needs
Startups need to determine their workspace requirements to make sure they choose the best option for their business. Whether it’s a dedicated desk, private office, or a shared workspace, it’s important to know your needs and select a coworking space that can fulfill them. If you don’t have a clear idea of your workspace needs, it can lead to selecting the wrong option, leading to a waste of money.
3. Focusing Only on the Price
Price is an important consideration when choosing a coworking space, but it should not be the only factor. Startups often make the mistake of focusing solely on the price without considering the other factors that will impact their work environment. For example, it’s important to consider the quality of the amenities, the location, and the services offered in relation to the price.
4. Ignoring the Lease Terms
Before signing a lease, it’s important to read and understand the terms of the agreement. Many startups make the mistake of not reading the fine print, which can lead to unwanted surprises later on. It’s important to understand the length of the lease, the renewal options, and any penalties for breaking the lease.
5. Not Checking for Hidden Costs
When selecting a coworking space, it’s important to ask about any additional costs or fees that may not be included in the advertised price. Some coworking spaces may charge for additional services, such as printing or conference room usage, which can add up quickly. It’s important to know about these costs upfront to avoid unexpected expenses.
6. Ignoring the Location
Location is an important consideration when choosing a coworking space. Startups often make the mistake of choosing a space based on price or amenities and not considering how the location can impact their business. For example, if your business relies heavily on meeting clients, it’s important to choose a location that is convenient for them.
7. Not Testing the Space
Before signing a lease, it’s important to test out the coworking space to make sure it’s the right fit. The mistake of not visiting the space beforehand or not taking a tour of the facilities can lead to issues. It’s important to see the space in person, test out the amenities, and talk to other tenants to get a feel for the environment.
8. Not Considering the Community
Community is an important aspect of coworking spaces.A strong community can offer networking opportunities, potential partnerships, and a supportive environment for your business. This being an essential part of growing your business, surely can’t be neglected.
9. Choosing a Space Based on the Provider’s Reputation
Founders make the mistake of choosing a coworking space based solely on the reputation of the provider. It’s important to research the specific location and talk to current tenants to get an idea of the environment and community. The reputation of the provider may not always translate to the specific location you are considering.
10. Not considering scalability
Finally, startups need to consider scalability while selecting a coworking space. When your company grows, your needs and requirements will change, and you may need a larger workspace, additional amenities, or the ability to rent a private office. Ensure that the coworking space you select can accommodate your company’s growth and provides flexible solutions to scale up.
Conclusion
Choosing the right coworking space can be a daunting task for entrepreneurs and startup founders. But, by avoiding the common mistakes mentioned above and being aware of your startup’s requirements, you can find the ideal coworking space to take your business to the next level.
At Firststep, we understand that selecting the perfect coworking space can be overwhelming, especially for startups with limited resources. Our dedicated associates can help guide you through the process and suggest the best coworking space solutions that meet your specific needs, from affordable plans to flexible workspaces. Get in touch with us today to learn more about our services and how we can help your startup grow.
