Here’s a bitter pill to swallow- there are higher chances of your startup failing than succeeding.
New startups are mushrooming in every corner of cities, but only a handful make it past the 5-year mark. While manning the ship alone can feel overwhelming, coworking spaces can help dodge some storms.
Not convinced? Here are three successful businesses that started their journey in coworking spaces-
This cab booking app had a humble beginning in a New York-based shared office space called The Yard. A few years later, Uber relocated to another coast but operated out of a coworking space called RocketSpace in San Francisco.
9 out of 10 times you’re on your phone, we can bet you’re checking out your Instagram feed. But this powerful social media platform didn’t just blow up overnight.
Founded by Mike Krieger and Kevin Systrom, Instagram started as Burbn in Dogpatch Labs- a coworking space in San Francisco. And within just two months, they created the Instagram app.
With roots in Sweden, Spotify became huge after entering the United States. Like Uber, the music streaming app also started in RocketSpace in San Francisco. Today, Spotify has over 100 million subscribers.
And that’s not all. Industry giants like Mitsubishi power, GE Healthcare, Tata Teleservices, PhonePe, Usha, Carrier Air Conditioning, Accenture, etc., work out of coworking spaces.
We’re not saying coworking spaces alone fueled the growth of these companies, but they definitely had a big role to play.
Coworking spaces, or as many people like to call ‘millennial workplaces’, have become a norm in the startup world. They’re helping startups scale from seed to unicorn by lowering their capital expenditure and allowing them to invest it in more important areas.
Let’s look at why these shared offices are such a big hit among entrepreneurs today.
Why Your Startup Needs a Coworking Space?
The hype around coworking spaces is real – and rightly so. Entrepreneurs across the country are flocking to coworking spaces, not just for a professional work environment. But if you haven’t made a move yet, here’s what you’re missing out on-
- A Bigger Investment Budget
It’s simple. The higher your operational costs, the less you’ll be able to invest in product development. Setting up your office in a coworking space will knock off real estate and infrastructure costs from your expenditure, reducing your operational costs considerably.
Coworking spaces have everything you need to focus on building your startup. They have ergonomic furniture, kitchenettes, and even cafes to help you relax and recharge.
And the best part? The money you save on these amenities and resources can be used for things like product research, expert consultation, and buying special equipment. It’s great to get everything you need without breaking the bank.
- Better Facilities at Better Prices
If you’re a tech startup, you need a lot more than just a desk, a chair, and good coffee. You need good quality printers, scanners, high-speed Wi-Fi, etc.
While these are the standard features in most coworking spaces, some spaces that exclusively cater to tech startups take this a notch higher by allowing you to access special equipment like 3D printers at affordable prices.
This gives you enough room to experiment with your ideas without locking in a big chunk of capital.
- Superior Market Reach
While an amazing product is essential to your startup’s success, unfortunately, your work doesn’t end there. In fact, it is only the beginning. You’re not successful unless the product reaches the market.
Coworking spaces are networking havens. They offer a ton of cross-marketing opportunities to give your product the limelight it deserves. For example, we conduct Founder Spotlight events at Spring House Coworking to help entrepreneurs share their startup journey and expand their reach.
Map Your Journey to Unicorn with Spring House Coworking
90% of all new startups fail. Coworking spaces can help you bag a spot in the elite 10%. But before setting base, make sure you get access to all the facilities you require and are comfortable with the vibe of the space.
If you’re ready to make the switch and become the next unicorn, let Spring House Coworking be your fuss-free office partner. We customize your space exactly as you like and offer the best-in-class amenities, so your journey from seed to unicorn is a bit less stressful.
Book your coworking space in Delhi NCR or Lucknow today.