The Philippines is currently experiencing a robust economy where the opportunity for enterprise is at its peak. Once seen as a struggling economy among others in the Asia market, it is on par with Vietnam and China. More than any other time, professionals looking to translate great ideas into a business venture should do so in this prosperous environment.
While starting a business requires a lot of responsibility and a lot of diligence, the coworking space provides businesses with a nurturing environment to do so. Your coworking space in Manila or any other Filipino city is the perfect place to meet people, to find members, and to team build. Moreover, these workspaces that have transformed themselves into community enclaves can be the foundation of business growth.
Continue reading to learn how you can use your coworking space to build your business.
Finding Your Space
Coworking is a trend that has become a popular working solution across Asia, but all coworking spaces are not the same or even equal. The typical space offers professionals the use of workspace, in addition to the amenities and equipment that come along with the standard office. The better coworking spaces will host events, both formal and informal, to provide the glue needed in creating community.
For prospective co-workers looking for the right place, keep in mind that there are variations on this concept. The niche and industry-specific coworking spaces cater to a particular group of industry professionals. The perfect coworking space for a business starting out would be a coworking space devoted to helping startups. These spaces actively try to create an environment that supports business growth. Your coworking space, though, should reflect the mission and goals of your business, and when looking for a space, find ones that can assist in helping with business growth.
Use Your Community
In the coworking space, your community can be leveraged in a few ways. The first happens naturally when engaging with others. In meeting others, you form business relationships that can grow as you spend time in the space. In addition to the non-work-related activities, you make friends and create connections within the community. These connections can culminate in valuable business relationships, or even better, opportunities to find mentors in the community.
These connections provide the basis of collaboration. Collaboration is a leading factor in creating business growth for a few reasons. For one, these activities can translate into more visibility for your business. More significantly, collaboration creates business growth.
Connections also allow you to expand your knowledge of subjects within the business landscape. No venture exists in a vacuum, and so staying up to date with information about other industries can provide resounding benefits for the work that you’re looking to do for potential clients.
Engage And Publicly Relate
In relating to the public, businesses have a few opportunities to engage in public relations to build growth. Get involved in the coworking community by volunteering to help with space events, host events yourself, volunteer to start a newsletter and create an online presence. The point is to engage in as many activities as needed to get the public familiar with your brand.
If you’re a business looking to expand past the reaches of your current office environment, coworking spaces can also allow you to branch out and find business in other areas/cities. Given the low cost of coworking spaces, many businesses use them as the building blocks of opening new branches and dipping into other markets.
Take Advantage Of Growth Opportunities
At some point, you will have built up business, so use this as a chance to expand into other areas. Coworking is one of the cheapest ways to rent office space. If you find that you have established a prospering business in one area, do your research to see where else your product or service might be marketable. After researching possible areas, rent space a few days a week to test the market.
Building Your Business Through Coworking
The Philippine market has a great economic forecast, which for entrepreneurs means a chance to take advantage of the many business opportunities. The coworking space can be a complement to activities you are already engaged in to build growth. Transitioning your business into a coworking space in Manila or any other Filipino city can help you build the valuable connections needed to build a business. Whether you’re a client-facing business looking to network, or a tech startup trying to find a low-cost, low-obligation work environment, coworking spaces have a considerable amount to offer.
Alexandra Richards is a business consultant, located in Metro Manila. She takes a keen interest in business structures and work culture. Recently she has taken a particular interest in the benefit of having Servcorp Coworking Space to attract clients in Philippines.
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