What to Know About Collaborative Space in Atlanta
There are over a dozen collaborative space operators in Atlanta that provide memberships from $129/Month per person. Traditional landlords can also provide collaborative space but only if you need 1500 S/F+ and can commit to a 3+ year term. Collaborative spaces which are also referred to as coworking space can be a great place to work if you have the right expectations. If you have the wrong expectations it can be a waste of your money. Many people interested in a collaborative space confuse business incubators with collaborative space. There is a difference.
The Differences Between Collaborative Space & Business Incubators
Business Incubators are designed to accelerate the growth of startup companies. This often includes access to shared office space, capital from investors, access to accountants, access to lawyers, quantifiable coaching & measurable networking. Most companies are going to have a very hard time getting into a business incubator unless the product or service offered is cutting edge technology, funded through the educational institute where the person attended college or such a strong business case that you obviously have a true competitive market advantage. Collaborative Spaces are typically open floor plan spaces with workstations, access to meeting rooms and a cafe area that serves beverages. The coworking spaces are often modern & aesthetically pleasing. The members of the coworking space often do not work for the same company. Many coworking companies market themselves as providing networking and other tools to help a business grow. However, the networking and tools provided are often not measurable. The coworking providers are usually just providing enough to make their members feel good about themselves. 20% of small businesses fail in their first year & 50% of businesses fail in their fifth year. Don't be lulled into thinking someone else is going to build your business.
When Is Coworking a Good Fit for Business
1. If you don't need a private office & want an attractive place to work with other like-minded people, access to meeting rooms & access to a cafe then coworking spaces are great. For intance, Peachtree Offices has Atlanta coworking space from $129/Month.
2. If you are not easily distracted by people moving around and don't mind working beside someone you don't know then a coworking space fits the bill.
3. If your company is large enough to create your own coworking space & the employees prefer the open floor plan a coworking space is a good fit.
When Is Coworking Not a Good Fit for Business
1. If you are easily distracted a coworking space can negatively affect your business.
2. If your clients would think negatively of your business operating out of a coworking space it would not be a good fit.
3. If your company has a competitive advantage that could be lost if seen or leaked then a coworking space could be hazardous to your business.
Measuring the Results of Collaborative Space
If you are not sure if coworking will work for you but want to give it a try just don't sign a long-term agreement. After a few months of working in the space, ask yourself is coworking working for my business? If not, rent a private office space in Atlanta for a few months. There are numerous providers in Atlanta for both Coworking & private office space that offer flexible terms. Pick the solution and the provider that works best for your specific needs.