How Coworking can change the next-gen fintech startup scene

The way we work in the current professional scene has change dramatically over the years. Just 5 years back, traditional working environment was the only way to thrive in the industry. This has changed completely as more and more coworking communities started developing and branching out at a pace.

Today, we can see more and more startups and entrepreneurs from different sectors of the industry coming together for sustained and rapid growth.

It is not uncommon for corporates to join this movement as they are starting to see the value of being part of such a collaborative community.

One industry sector that can particularly benefit and gain traction from this movement is fintech. Entrepreneurs and independent contractors working in this sector can not only collaborate through a common coworking space but can also get access to mentors, investors and customers.

Coworking spaces like the Bangalore Coworking Hub often team with traditional banks and financial institutions to help the fintech sector reach its full potential. It can be fund raising assistance and advisory services targeted at assisting them to create and commercialize fintech business concepts. Additionally, by collaborating with banks, these startups will be able to foster innovation through partnerships.

This provides a great platform for startups who are working towards innovation and disruption in the finance and insurance sector. In addition, such communities often host fintech hackathons or hackerspaces where developers get together to design, innovate and collaborate on IT projects.

Corporate Coworking as frugal investment for your business

According to a recent report by property consultant JLL India, corporates can save up to 20-25% of their real estate costs by collaborating with a coworking space. Some of the obvious benefits are low investment, no long-term leases and no fixed capital investment. What is more attractive about being part of such a coworking community is that there is scope to interact and collaborate with professionals working with other agencies and companies.

Coworking offices were initially established to facilitate the startup community of the country. However, millennial professionals and corporates nowadays are increasingly getting attracted to this working module. The idea of working in a collaborative module is very high as there is immense scope of learning, interaction and collaboration.

Read on to find how shared office spaces like the Bangalore Coworking Hub can facilitate corporates:

1) Promote progressive culture - In current times, it is well known that to stay ahead of the curve, there is a need for corporates to adopt disruptive and unconventional strategies. Larger companies are constantly looking for ways to redefine their products and company goals. A great way to achieve this is by being part of a coworking community where you share space with a varied talent pool of startups and independent contractors.

2) Frugality - There has also been a constant attempt by corporates to develop frugal innovative ideas. In fact, this principle has been incorporated in the basic sustainability pillars by businesses. From solution trimmings to integrating cost effective assets for employees, companies are trying to figure out ways how to do better with less. What better way to contribute to this frugality principle than being part of a coworking office to manage your real estate costs? As mentioned above, such establishments also help with their no long-term lease options giving you the flexibility to plan your budgets.

3) Collaboration hub - When you are surrounded by a talent pool of startups, there are ample chances for collaboration. This also provides opportunities for companies to interact with freelancers facilitating cross learning and performance enhancement.

Tips to Promote Your Business in a Coworking Office Space

Working out of a coworking office space to attend to your client meetings and build up a team is a great way to leverage your business and be more productive. However, you can achieve much more than that as a collaborative coworking space like the Bangalore Coworking Hub can give you immense opportunity to grow your business.

In today’s competitive world, every business is looking for new and innovative ways to market their products and services. Shared offices can serve as a great medium for networking with your potential clients and spreading awareness about your business. Read on to find some useful tips for promoting your business in a coworking office space:

Initiating Conversations

This basically means getting to know other coworkers or coworking members in the shared office community. By interacting with other members, you might be able to expand your reach in your target client market. Thus, instead of direct pitching and having sales conversation, you can network by bonding over a cup of coffee or talking about common business interest. This way the trust factor is also being initiated with the members which is very important for business relations.

Promoting Work Trade

Another great benefit of operating out of a coworking space is that you can initiate a work trade offer with other members. For instance, if you are a content writer and another member designs websites, you can suggest to swap services so that you can offer clients a complete online solution. The benefit of such an approach is that there is a possibility of a broader reach as other members of the co-working space might hear about your services.

Knowledge Sharing

The concept of coworking is about collaboration, interaction and openness. This doesn’t imply that you share your trade secrets with your coworkers but sharing your knowledge to help them, you might also gain future benefits from them. In such spaces, it’s highly likely that at some point you’ll be on the receiving end of useful knowledge.

Conducting Meetups

Another major networking benefit of being a part of a coworking community like the Bangalore Coworking Hub is that you will be able to organize events and meetups. This is vital as such events will help you to network with similar minded individuals and build relationships with potential clients.

Escape the Coffee Table Office by Joining the Coworking Community

So you're a startup, freelancer or an independant consultant and find that you can easily locate a table and an internet connection for your work at your nearest coffee store or internet cafe. 

But does such a work environment fulfill all your professional requirements? Be part of a global support system by embracing the coworking concept for your business. Coworking spaces like the Bangalore Coworking Hub understand that the start-up and freelancing community can achieve much more by working together rather than solely operating through a home office or a coffee shop. 

So, how does such a shared office environment differ from the standard coffee shop or internet cafe? What additional benefits does such a start-up office space provide that can help you leverage your business to new heights? Read On –

Work-Life Balance

One of the primary advantages of joining a coworking office space is that it helps to maintain a stable work-life balance. Unlike home offices wherein you are constantly trying to avoid any kind of personal distractions, a shared office environment clearly helps you to delineate the parts of your life that you use for professional and personal matters.

Sense of Belonging to a Community

Many times working independently or freelancing creates a sense of loneliness. It is true that it's always nice to work for yourself and not in a traditional office space, but while doing so, we sometimes crave to be part of some form of community that gives us a sense of belonging. Coworking helps you to find just that wherein you get to work with other like-minded individuals in a collaborative and flexible office space.

Boost in Self Confidence

According to Deskmag, freelancers who work out of a coworking office find that their social as well as business networks have increased (94% and 88% respectively). Due to such advantages, coworkers are said to feel more self-confident since joining such a facility. Such benefits would not be there when startups or freelancers operate out of a coffee store or cyber cafe.

Professional Meeting Rooms

Most coworking spaces like the Bangalore Coworking Hub offer meeting rooms and conference rooms for the coworkers to conduct client meetings, team meetings etc. This is certainly a step up from discussing your work plans with your prospects from your home or the coffee shop thereby helping you to step up your professional game.

Apart from the above mentioned, there are many other benefits as well while operating out of a coworking space like networking with other potential clients, security services for your belongings, dedicated work seats with appropriate furniture and much more.

Can’t Afford Office Space? Select Shared Office Space for Your Business

Starting up a business and worried about the cost implications of renting an office space for your employees? We all know that office space can be a real drain on resources for most new and emerging businesses. 

With the 11 to 12 months lease terms and advanced security deposits required while leasing or renting an office, it becomes very difficult for startup companies and even emerging businesses at times to provide such long-term commitments. Even well-established companies today think creatively and out-of-the-box  to come up with smarter and better saving options for their business in terms of office space.

The Solution

A great and innovative way to avoid any such added costs to your business is by opting for a shared office or coworking platform like Bangalore Coworking Hub for your company. Being flexible, such office spaces allow you to opt for membership with the minimum commitments – even by months.

Added Benefits

It's true that one of the biggest benefits of such coworking office spaces is the reduction in liabilities and low cost. But that’s not all! Today, coworking spaces offer companies and professionals much more than the mere physical space from which they can function. It provides a great platform for companies who are looking to increase their business footprint and network with other professionals and like-minded people. With more and more companies identifying the many benefits of shared offices, they have become the ideal platform for fostering collaboration within the business community.

Another benefit is that such spaces enable you to foster a productive work culture for your staff and employees. You get motivated by being in the company of other startups who are constantly working to take their business to the next level. You will also be able to share and exchange ideas with their other companies and create stronger working relationships that is essential for the growth of your business.  

This also allows smaller companies to cut down the time required to find space and make it fit for working like setting up internet, phone lines, security and cleaning services and also maintain these services as everything is included in an office package. Furthermore, you also have access to other benefits like conference rooms and meeting rooms. All you would need to do is connect your computer or laptop and start working.

From getting to know your fellow coworkers to getting a referral and hiring an efficient employee – the possibilities of business development are endless while working from  a shared office space like Bangalore Coworking Hub. So, interact, collaborate and leverage your business by associating with a shared office space.

Benefits of Using Virtual Office Spaces in Bangalore

Termed as the Silicon Valley of India, Bangalore is a favorite location for new start-ups and other established companies from all over the world. With the considerable increase in the number of companies, demand for office spaces and other expenditure has increased considerably as well. It has become quite a task for new start-ups to find suitable offices at good locations for a reasonable price. The key to success here is to find an alternative solution for these problems where you can reduce your expenses and enjoy more profits. This is where virtual offices such as the Bangalore Coworking Hub play a major role in the corporate world today.

Virtual offices are for all those businesses that don’t really need a physical location to function as a company, but they still have an office address to give to their clients in a prime location. With the real estate prices in Bangalore booming, virtual offices will cut most of your expenses. Your whole business can be done through internet, phone or video conferencing instead of you spending your money on rent and employee wages. Consider these pointers which tell you exactly why virtual offices are a much better option:

1. Flexibility – There are no leases and long term commitments you have to make with the landlord. You can rent the space by the hour, day or month. 

2. Save Money – Your overheads get reduced to large extent because you will be saving a lot of money on physical office space. You will eliminate the need for large security deposits and investments on office equipment. 

3. Receptionist and Administrative resources – Virtual office facilities offer a receptionist and amenities such as conference rooms. You can use these amenities when required and your clients will receive professional help from the receptionists. 

4. Save time – Instead of wasting time looking for office spaces in prime locations or any other equipment, all these things will be available with virtual offices. 

5.  Impress Clients – Virtual offices are generally placed in prestigious locations which can create a positive impact on your clients. Beautiful workplaces with conference rooms can improve your image as a business. 

6. Employees – With virtual offices you can employ people from anywhere across the world. This is because your business mainly takes place through communication on video, phone or email. 

7. Low Start-up Costs – Virtual offices offer a lot of savings especially for start-ups. Most of the costs are shared in terms of services and infrastructures. 

8. Get Additional Space – Virtual offices provide additional space to hold training sessions, seminars and any other office activities. 

By reaping so many benefits with almost 50% lesser costs, virtual offices seem to be the right option for any new start-up in Bangalore. With all the money and resources you save, you may even come up with new business ideas for start-ups. At Bangalore Coworking Hub, we help you to meet your office requirements so that you can run a smarter and profitable business. In addition to virtual office services, you can also be a part of our professional coworking or shared office community and interact with other startups and emerging businesses for new ideas, contacts and networks. So in case you are wondering how to progress in this technological hub of different sectors, you can start by opting for smart solutions such as virtual offices. 

Who Can Benefit from Co-Working or Shared Offices?

With the dawn of the contemporary age in the corporate world today, co-working or shared offices have become a more common and well-known term. This concept offers ample benefits which attract new start-ups and established businesses like bees to honey. It won’t be long before the word traditional office is erased completely out of the corporate dictionary. Co-working or shared offices like the Bangalore Coworking Hub are this attractive mostly because of their cost effective nature.

Every business whether new or established is always looking for ways to cut down their costs and what better way can they find apart from this option. But of course there are certain types of people who benefit a lot more than others. Have a look at some of these entities who sow the most rewards from this option:

Freelancers

Many a times companies prefer to outsource their work based on short term projects to freelancers. Most freelancers have the flexibility to work at their home or at a bustling coffee shop. In both situations there can be a lot of distraction due to the distracted environment with kids at home or the loud noises of the crowd in a coffee shop. This is the exact reason why freelancers opt for co-working or shared offices. In this environment, you will be more focused on your work therefore more productive. Apart from this, you have the option to meet new people from the same field or different fields and build a strong network. You may never know when the next opportunity for a job pops up in your office.

Start-Up Companies

For start-up companies, discovering solutions to reduce costs is like celebrating the festival of Diwali early. All start-up companies usually begin with a tight budget, so considering the fact that buying an office space creates the biggest hole in their budget, shared offices are like a breath of fresh air. Their costs reduce to a large margin and they get the benefit of working alongside different companies from different sectors. Besides these companies get to market their products within their own office space! So you may never know if your next investor is sitting just two seats away from you. It’s eventually all about networking and building up your contacts for future business ideas.

Corporate Houses

When corporate companies which are well established already decide to opt for a co-working space, you know that it’s something worthy. For corporate companies, co-working helps you mingle with other new or established business and maintain a harmonious working environment. If you really open your eyes you will find potential business partners or energetic investors walking around everywhere. It’s a room full of opportunities in your own backyard! Not only that but your employees will be energized with the fresh faces all around that their productivity may just shoot up to a 100%.

Independent Consultants

As an independent consultant you get to choose your own clients and working hours to decide your company’s goals and direction. The only problem here is that you will mostly have to work out of home which results to many drawbacks such as not being able to meet clients in a professional environment. In a co-working space all those worries are put to rest with a conference room available right there for you. What’s even better is that you may just find a whole bunch of clientele right there in your small office space. You will also be able to build your network and profit from the sales you get out of the additional business. 

So if you come under any one of these categories, then you know exactly where to start from. Half your worries will vanish just by opting for a shared office space such as Bangalore Coworking Hub. Before you lose out on this incredible option, start looking for a co-working space today!

Selecting the Right Office Space for Your Start-Up

As a start-up you have to face many challenges that are ahead of you. One of them includes deciding where you will place your employees. The traditional practices included renting a commercial real estate office. However that is not the only option you have today. With the introduction of the concept of co-working, start-ups have a gained fresh breath of air. Co-working spaces like the Bangalore Coworking Hub give you the opportunity to work with a wide community of individuals from diverse backgrounds. They prove to be the most cost effective option for start-ups. Instead of paying a large sum of amount for an individual office space you would rather opt for a co-working space for a much lesser price.

Apart from being cost effective, various other factors will allow you to see the variety of benefits associated with co-working. Here are a few factors which can provide a fresh perspective to your business on the long run:

1. You have the benefit of meeting potential clients right inside your office. The fact that you share an office space with other businesses, gives you the opportunity to look for clients. You merely need to look to your left or right you will definitely find someone who will take interest in your business. 

2. In a surrounding where you have many people of different industries, you can create a network with all these people. As a start-up you need to make contacts so that you can create awareness of your brand among other companies. 

3. Co-working spaces always come with flexible options. You can rent out the space for how much ever time required. In traditional spaces you need to pay for a minimum amount of time which is usually one year. 

4. With so many industries under one roof, you are bound to gain new knowledge every time you step in to the office. With such a diverse crowd, it won’t be hard to make new friends and increase your list of contacts. The more people are aware of you, the more awareness you create for your business. 

5. The most obvious benefit is from the reduction of costs. Start-ups always begin with tight budgets so if you can save money just by using a co-working space, imagine the number of options you will have to expand your business. 

6. When your employees mingle with people from different sectors they tend to get refreshed by the idea which in turn increases their productivity levels. They can even share ideas and get inspired by other employees. 

 With these numerous benefits, the convenient and practical option to go with here is definitely co-working spaces such as the Bangalore Coworking Hub providing flexible and professional shared office space for start-ups in Bangalore. It is undeniable that this concept is growing to be popular amongst many big companies as well today. The right approach with the right attitude, will aid in making this concept the best option for your business. There’s nothing more you can ask for when you get the right boost for your start-up. So make sure to adapt this practical solution for bigger benefits in the long run.

Shared Office Vs Home Office - 5 Benefits to Consider

Shared offices are the best alternatives to traditional office spaces, but some people may argue that home offices are a better option. Although home offices do have their share of advantages, shared offices tend to be a more practical and sustainable approach. Home offices do help in lowering transport costs and other liabilities. But what happens when your kids don’t respect your working space or you constantly have guests over during office timings? 

Such disruptions can result in low productivity and concentration. This is when you require a flexible shared office environment like Bangalore Coworking Hub. Our coworking office space helps start-ups, independent consultants and emerging businesses to increase their productivity and business efficiency while lowering their business costs. Though home offices seem very tempting at first, you eventually realize that your home and work life must be kept on two separate pedestals.

Shared offices have various attractive benefits that will surely make your work life more comfortable and focused. To give you a clearer picture here are a few reasons why working at home can be a menace:

• Interruptions – When you are in your house working, there are bound to be constant distractions like unexpected guests or screaming kids. This can make you lose focus and time. 

• Loneliness – You will be working alone without any social interactions about the work. Doing this can cause loneliness and result to low productivity. 

• Lack of amenities – At home you will not have much storage space, conference rooms and any such facilities. This can cause you to limit your growth and inconvenience your company. 

Shared offices offer you a lot more benefits than home offices. They will boost up your confidence with the surrounding and help you focus more on your work. Check out these benefits to be convinced on this statement:

1. Networking – When you are surrounded with colleagues of different professions, you can form a big network. Shared offices have people working from all sectors so you will be able to make more contacts, which can come in use for your future. In business, creating a network is very necessary if you want to put your company right out in to the market. You may just find your next client or investor sitting next you. 

2. Group Solving – If you are stuck on a business problem, you can speak to a diverse number of people from your shared office space about it. This offers you the opportunity to informally collaborate on business issues. You even run your ideas by them to get honest criticisms about it so that you can modify it for the best. This would definitely not be possible in your home office. 

3. Amenities – Shared offices offer you professional meeting spaces such as conference halls. Instead of setting up a clean background at home while video conferencing, you can sit face to face in a professional environment and discuss with clients. You may also end up meeting professional clients at your office. 

4. Environment – With shared offices you will have the best working environment with minimal distractions. You can isolate yourself during work and get the opportunity to collaborate with different business owners. It will be a big relief for you considering the constant distractions at home. 

5. Opportunities – A shared office space can spring opportunities at you at any time. For instance you might be offered a bigger job than your current one from the other business at your office. You will always have the chance of encountering huge and beneficial opportunities that will give your career a boost. 

So instead of locking yourself up in a closed environment and working you should consider an open and professional shared office space like Bangalore Coworking Hub for your business operations. The wide array of benefits will make your shared office experience worth all the trouble!

Business Cost Management with Shared Office Spaces

Every business has one prime area to consider when they begin their business operations: Constructive cost management. Viable solutions to reduce costs allow the company to avoid large overhead expenses and cash drain of capital. Your primary area of concern when it comes to cost is the office space. Ever businessman’s dream is to have an office in a prime location with all facilities and lower in cost. Well such dreams can be extremely heavy on your pockets unless it is a shared office space. Shared office spaces are relatively cheaper and come with all the amenities necessary. At Bangalore Coworking Hub, you will be able to best manage your business costs with our professional, cost-effective shared office space in Bangalore.

Being a smart, creative and cost effective option many people are actually opting for shared office spaces. Such an arrangement is most effective for a start-up due to their low capital amount. Let’s break it down and analyse how shared office spaces reduce our costs:

Prime Location- If you need to buy an office space in a prime business center it costs a lot of money. When you choose the shared office option, the cost becomes way lesser and you have the advantage of being situated in a prime area. Many offices choose a business location so that it is easier for clients to find them. Therefore, a shared office space can be very advantageous in this situation.

Share Facilities- In a shared office space you have many amenities such as lounge area, conference room, receptionist, kitchen and so on according to what you choose. So getting these facilities in an individual office space would drain out a lot of money but in shared office spaces you split the money with other companies.

Flexible Lease- In shared office spaces; you can pay the lease on a monthly, yearly or short term basis. When it comes to an individual office space, you will have to meet the requirements of the landlord and pay on time.

Apart from these cost related advantages, shared office spaces have various other benefits associated with them as well. Such added benefits increase the prospects for higher profits for the company too giving it quite an edge.

Marketing- Sharing a platform with other sectors of business, gives you the opportunity to market your business and in the process gain potential clients. The awareness of your company in the business environment will increase too. When your employees mingle with the other employees there will be conversations pertaining to the company, therefore indirectly branding your business.

Inspiration- As you work with a large and diverse crowd, you are bound to find inspiration and ideas for your business along the way. Even your employees will be inspired to work better, which will increase the productivity.

Productivity- When you tend to mingle around with a crowd consisting of people with different backgrounds and sectors, you will gain fresh perspectives on your ideas or work. It is always nice to run your ideas by fresh set of faces, so that you can receive a constructive opinion about it. By doing the employees will gain a better momentum and work ethic which will eventually benefit your company.

A shared office space like the Bangalore Coworking Hub will prove as a win-win concept for both you and your employees. So why not opt for this concept and reap the benefits on the long run? Not only is it a great cost management method but it is also a practical solution for your business.

10 Ways How Coworking can Leverage or Benefit Your Career

Unless you have been living inside a box, you should definitely have an idea of the new global movement progressing in the corporate world: Co-working. Working from home or coffee shops can become a nuisance due to the abundant distractions all around, but working from a community office space can do wonders for your company. Co-working is that emerging phenomena, which provides an environment which is as flexible and diverse as a community.

Traditional offices have become a passé since the upcoming businesses prefer a more contemporary and wise approach to working. The difference between a traditional office and a coworking space like the Bangalore Coworking Hub is that the latter provides an extra push for you to be more productive. Our collaborative work community and shared office platform provides a range of amenities and benefits that can help to leverage your career to the next level. Let’s break it down for you so that you can see the larger picture:

1.       You will be able to build and expand your professional network. Just have a look around, the woman with glasses right beside you can be your next business client.

2.       When you are surrounded by creativity, it is bound to hook itself on to you. Watching creative people working around you will boost your necessity to come up with much more creative work.

3.       Rather than sitting at home and running by an idea across yourself, you will be delighted to present them to your fellow co-workers and gain fresh perspectives on them.

4.       Your productivity levels will hit the roof in such an environment rather than working in a rigid and monotonous traditional office space.

5.       Have you hit the roadblock in constructing an innovative design for your website? Don’t worry there may be many designers and writers working around you who will surely help you out!

6.       Has the workload been bogging you down lately? No worries, just head over to the lounge area for a chat with other people from other companies. This not only relaxes your mind but can also act as an energy booster.

7.       Having keen observational and listening skills can take you a long way. You don’t know when you may see or hear something inspirational which will give you the best ideas for your work. This is the benefit of mingling with people from different sectors, cultures and backgrounds.

8.         Does one of your co-workers define the perfect intelligent individual with amazing ideas? Then you can recommend him to the HR department for that competitive job offer they have been looking to put out. You may just increase your chances of a promotion or appreciation at the company.

9.        Sharing an office with colleagues of different potentials and companies, will help you widen your knowledge base. A wider knowledge base means greater ideas and a boost in confidence regarding your work.

10.   Last but not the least, in house promoting will draw in some attention and keep your boss smiling throughout. You can spread the word about your company and market it to a diverse audience. 

Today many companies try to make their office a better surrounding for their employees because they know how much it impacts the performance.  Instead of investing in redecorating your current office space, consider a collaborative and networking shared office platform like the Bangalore Coworking Hub for your business.