Posted by Jay Kamlet on Nov 08, 2018
In a changing business landscape, many established companies are finding growth through coworking
When coworking spaces first entered the scene several years ago, they catered largely to start-ups in technology fields. Today, however, many established businesses in a variety of industries are experiencing growth through coworking.
Evolution of coworking
In the past, entrepreneurs would launch their start-ups in a coworking space and buy or lease their own real estate once they hit a certain level of growth. More staff, larger revenues and expanding service or product offerings necessitates more space, right? Not necessarily, and especially not in the current evolution of how businesses operate.
Dan Zakai, a coworking executive, explains for Forbes:
“What happens when a business achieves financial and structural stability and seemingly outgrows its co-working space’s hot desks and private suites? In the past, the next logical step would have been for the company to make the leap to its own dedicated workspace in a traditional office. But days of this misconception are long gone and the next logical steps, for companies of various sizes, have evolved.”
Those next steps include growth in coworking spaces, says Zakai, even for large companies. He reports that 44 percent of corporations currently use some type of flexible work space. By 2020, that number will increase.
Benefits of coworking for growth businesses
Coworking continues to offer a number of benefits to growth-mode companies. It gives businesses the resources they need, but with the flexibility that matches how people work today.
Today’s mobile workforce can access a physical office or conference space when needed. Staff can also choose private offices or shared open spaces, in many cases. The coworking model allows businesses to grow and make use of space and resources to match that growth.
In addition, built-in networking and collaboration opportunities set coworking apart from private office space. Working alongside other business owners naturally fosters relationships that ultimately support and encourage business growth.
Coworking for lawyers
For independent lawyers, it often makes sense to start small with a new law firm. Many of our LawBank clients work entirely alone at first, but then add staff and partners as their caseloads pick up.
A flexible coworking space, especially one that offers both shared spaces and enclosed offices, gives professionals room to grow at a sustainable pace. As your firm grows, you don’t necessarily want the stress of leasing or buying real estate (and then managing it).
Coworking gives you the professional space you need without the financial burden or added pressure. You can convene with staff on specific days, but give yourself and your team the flexibility to work from home or in the field on other days. You can build your business in a way that makes sense for your team, your clients and your growing law firm.
To learn more about coworking for lawyers, contact us. We offer three locations in Denver with a number of configurations to suit you.