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Business prospects today are somewhat ambiguous, but by no means gloomy, if one knows how to play the game with prudence and flexibility
Technological developments, the increasing role of digital media, and the rise of new industries have become powerful forces that are changing the global economy. The traditional ways of investing and doing business are radically being changed by these factors. Today’s economy, being in transition, is considerably becoming more uncertain. Further complicating this mix are the ever-present political factors, both within our shores and beyond.
From all these, we see that business prospects are somewhat ambiguous and uncertain, but they are by no means without the prospects of great returns, if one knows how to play the game with prudence and flexibility.
Thus, business practices are evolving. Policies and procedures are being rewritten. For one business to succeed and sustain its viability in this new economy, the entrepreneur must be open and creative. They must be willing to push boundaries and explore new frontiers, and must realize that the old rules do not always apply anymore—that there are now new ways of doing things, ways that promise more than the full value of their investment while their entrepreneurial instincts are constantly honed by an innovative environment.
Indeed, the key for them is flexibility, both in conducting business and in having resources that complement such flexibility. The business owner must look at easier, more practical, and less costly options of operating an venture, rather than sticking to the usual systems and methods.
Fortunately, the new economic landscape, while having its new set of challenges, has also been quick in offering solutions. Solutions that recognize entrepreneurial zeal, business instincts, and entrepreneurs’ need for flexibility.
The so-called coworking spaces and shared-offices concepts are examples. In a nutshell, these are spaces where one can work, enjoying all the modern conveniences that doing business requires: From office furniture, high-speed Internet, reception and utilities staff, working spaces ranging from a simple cubicle to an office suite, and lounges and dining areas. To put it even more simply, they are ready-made offices, tailored to the needs of its occupants, whatever their requirement might be. These shared spaces are rented by people engaged in different businesses and fields, so they can offer incredible networking possibilities.
Coworking spaces and shared offices offer these advantages of flexibility in the different facets of the business.
1. Funding
Coworking spaces and shared offices remove the need to rent or buy a rather expensive business space altogether at the beginning of the business, and the procurement of other office-related equipment, such as printers, copiers, and fax machines. All these are provided for the duration of business’s stay at the coworking space. These spaces and equipment can also be rented through the hour and by the day, which is a lot cheaper than signing a lease agreement that runs for years, or buying them. This means significant savings for the entrepreneur that they can use in the other aspects of their business.
2. Time
For a new entrepreneur, saving as much money as possible is important, but there is one thing that trumps that: saving time. In turn, there is one thing even more important even than that: allocating time wisely.
That is a tall order in a world where time means money, with the opportunities and advantages that come with it; where familial ties and friendships must be constantly strengthened and where one must also have the chance to breathe.
Coworking spaces and shared offices provide the opportunity to have time for all these important things. Because they are open daily, they allow flexibility in time, a schedule that can give importance for work, family, friends, and one’s self. If it is more convenient for an entrepreneur to work during afternoons, that will not be a problem. They do not need to choose between what is possible and what is not. With coworking and shared spaces, they will only select from a wide array of possibilities.
3. Transportation
Coworking spaces and shared offices are located in prime areas such as central business districts. Thus, they are easily accessible with the transportation hubs that are near them. One can readily ensure that this workplace is accessible, both for the entrepreneur and for their potential clients.
4. Lifestyle
Aside from the flexibility advantages, coworking spaces and shared offices offer more benefits. In a study conducted by Harvard Business School, it was found that people tend to be more productive when they work at such settings. The fact that they are doing their tasks inside an office-like setting tend to get the creative juices really flowing. Yet knowing that it is not really an office, in the sense that they can enter and leave at will, it gives them that sense of liberation that often makes the difference between the formation of simply a good idea and a brilliant one. Simply put, the professional setting inspires them to bring their A-game but the freedom from the setup makes them comfortable being themselves.
Because they are working in common spaces and shared offices, people also become invariably collaborative, which is more helpful. The fact that they come from different enterprises and industries and are not exactly co-employees removes the inter-office politics. Coworking spaces and shared offices give the feeling of community without enduring the heat of competition. But, of course, there is no need to interact or socialize with the other occupants if it does not feel like it. That is the thing with such settings—they respect individuality in all its forms.
Compass Offices is a first-rate company that offers such spaces. With established coworking spaces in Ayala Avenue in the Makati CBD and Bonifacio Global City, they are instruments of and for flexibility while embodying the daring and the entrepreneurial spirit of eager minds.
This article was sponsored by Compass Offices.
Founded in 2009, Compass Offices has grown to 40 centers with a network of more than 10,000 workstations in close to 10 countries. Its clients come from various industries and countries. Through wide range of services from virtual offices to serviced offices, Compass Offices presents a customizable solution and conducive community that supports clients businesses.
Main image via Shutterstock
