Eight strategies for business growth in coworking spaces

Coworking spaces offer start-ups and rapidly expanding companies plenty of support, opportunities and room for growth. But how do you successfully manage a growing team in a coworking space? With these eight strategies, business growth in coworking spaces is no problem.

Take advantage of the scalability of coworking spaces

Coworking spaces are designed so that they can be easily expanded. As your business grows, you can gradually expand the number of desks or the space. You can easily plan for growth without having to commit to an expensive lease.
Scalability could be one of the reasons why you originally chose a coworking space for your business. As the business grows, you can plan and implement the requirements relatively easily.

Use coworking spaces for recruitment

As you grow, you'll want to hire more people and attract the best talent in your field. Some companies based in coworking spaces have had positive experiences using their shared offices as recruiting assets. The right coworking space can be both appealing and contemporary. This is also an additional selling point to attract high-level talent. Whether in job ads, interviews or on the company website, you can highlight your amenities, networking opportunities and social events as part of the perks of the workplace. Additionally, emphasize how working for a company located in a coworking space can enhance the candidate's work experience.

Maximize opportunities for networking and partnerships

Coworking spaces and shared offices offer excellent opportunities for networking and partnerships. As your business grows, you'll be looking for ways to expand your network. Look for opportunities to build partnerships, whether through cross-selling opportunities or cross-marketing to complement products or services, such as joint promotional events. Proactively approach businesses in the same coworking space and get in touch if you see a good opportunity to partner with another local business.
 

Set daily goals

Since you have a strategy and a long-term vision for your company, set daily goals and hold your team accountable for achieving them. Having explicit, achievable daily goals will make it easier for your team to focus on the work at hand. Workspaces provide excellent opportunities for employees to meet new partners and business contacts, but they won't want to spend most of their time networking with others. Setting daily goals - along with your weekly and monthly goals - is one way to motivate the team to accomplish what you set out to do.

Use the different zones

Encourage the team to utilize the different types of zones offered in your coworking space. They could use zones such as quiet zones, meeting rooms or collaborative work spaces. When team members need time to focus on individual work, they can work in the designated quiet zones. If clients are on site, book a meeting room for discussions. Guide your team to match activity to the right type of zone, and the team will remain productive and effective while your business can expand.

Encourage your team to use tools to help them focus

The flexible nature of coworking spaces can encourage greater collaboration and teamwork. For this reason, there will be times when your team members will need to get used to their individual workspaces and focus on the task at hand. Encourage team members to personalize their space so they can have a sense of their own space. In addition, they should use tools such as noise-canceling headsets to help them focus. Simple strategies like these can promote strong focus and productivity within the organization, in turn supporting rapid growth.

Promoting team cohesion

Rapid growth can jeopardize personal development and team cohesion. Therefore, make an effort to promote team cohesion. This can strengthen the corporate culture and in turn increase motivation and productivity. Organize social team events, create collaborative online social platforms or plan regular lunches on weekdays. Finding ways for your team to socialize beyond work will help the company stay cohesive.

Respond to feedback from customers

No matter what stage your company is at in terms of growth, never stop seeking feedback from customers. Because as part of a growing business, you, like any other business, must continue to meet customer satisfaction criteria in order to be successful. Focus on keeping customers happy, listen to what they say, and your business will remain competitive.

Coworking spaces and shared offices are ideal for start-ups and small businesses that want to grow. If you choose the right coworking space and support your employees with the right guidance, you can scale your business quickly while keeping the team together.