Tag Archives: office space

The Advantages of Working with Different Companies in the Same Workplace

The Advantages of Working with Different Companies in the Same Workplace

 

The Advantages of Working with Different Companies in the Same Workplace

 

The demand for more flexible office spaces is steadily on the rise. Office co-working and co-tenancy spaces, where groups of people working for different companies share the same general area, are becoming increasingly popular with freelancers, flexible workers, SMEs, and start-ups. This kind of working arrangement has many advantages especially over a traditional office setup—particularly for entrepreneurs who thrive on surrounding themselves with like-minded individuals.

But what is office Co-tenancy, and how can it benefit you and your business?


Office Co-tenancy Explained

 

Co-working or Co-tenancy lets small businesses and individuals rent out pockets of space within an office floor or building. This space can be as small as a single desked room—co-working rental deals are flexible enough to suit different business needs and sizes.

To encourage more growth for the co-working industry, there must be innovative Co-tenancy companies to provide the right services for businesses of different sizes, starting with start-ups and SMEs. Whether you outgrow your space early or you end up paying for surplus space, typical leases are usually too inflexible to best serve growing organisations.

Here’s where CoTen comes in. Unlike serviced office providers, we offer flexible and quality office spaces at competitive fixed rates for as long as you need it, letting you make the most out of your budget.

And, as we’ve said, one of the defining characteristics of office co-working or co-tenancy is the fact that you’re with different people and businesses in the same general workplace. It may not be obvious at first, but this arrangement brings several key benefits, such as…


Potential for New Clients

 

For growing businesses, co-working increases the likelihood of gaining new clients easily because the people or other businesses within the same general workplace might become customers themselves, depending on the situation. For example, if you’re a growing digital marketing agency, look around—you might just find a start-up sharing the same office floor who are in need of your expertise to promote their business.

And, since you’re already near each other, communication is made easier. What’s more, relaxed and welcoming co-working spaces make it easy for you to connect with your clients and form longer-lasting, profitable business relationships.  At CoTen, many of our tenants have formed business relationships with each other, and that does not include the even greater number who have been able to help other tenants by introducing them to their clients who are in need of different services.

 

Networking

 

They may not become your clients but the other tenants in the same co-tenancy space could become your partners one way or another.

This is because co-tenancy offers the possibility of connecting with other like-minded individuals within your workplace who, like you, are driven to succeed and open to new ideas. You’ll also be able to open yourself up to valuable contacts who may be able to push your business to the next level.

In other words, office co-tenancy puts you in a good position to communicate with other businesses from the get-go, since you’re already in the same general location. And, if you collaborate with your fellow tenant businesses, who knows? Maybe they can lead you to more leads in the long-term.


Synergy

 

There’s something thrilling about being with bright, active, entrepreneurial minds within the same location. Traditional office spaces usually don’t offer this and, in turn, may hinder expansive thinking. Not only can you find new business contacts, you’ll potentially get to know more people who will motivate you to do better, and it is always good to be surrounded by older, wiser heads who have seen a few business cycles, or whose expertise, being legal, financial, marketing or a host of other disciplines can be brought to bear on any issues you are experiencing over a cup of coffee in a break out area.

Overall, this kind of environment promotes a more active mindset that can produce more ideas. A co-tenancy space drives this, producing a culture conducive to more learning and different from the dull and boring traditional office setup.

 

A Sense of Community

 

You may not be technically within the same company but you and the other people in the same co-tenancy area have the same aim: to achieve business success. This allows you to relate with each other’s success and struggles, forming a solid sense of belongingness and togetherness.

Employees can discuss what they do in a general sense, their aspirations, and their hopes with others working for different companies in a non-competitive environment. Doing so helps relieve stress and contributes to having an atmosphere that values communication. This can also lead to more working satisfaction as those in the same co-tenancy space can look forward to a place of work where people listen, and each member is not a rival but is more of a comrade. Work can be lonely and isolating—especially withing SMEs or start ups it’s always good to have added support in the workplace, emotional or otherwise.


Inspiration and Support

 

If you have the right mindset, seeing other businesses grow and gain more success right in front of you will inspire you. Co-tenancy gives you front row seats to witness this, motivating you to work harder and smarter. You might also pick up useful insights along the way that you can use to improve your own business.

We all know how tough the commercial world can be. Start-ups struggle to get off the ground, market conditions change, and plans fall apart. Co-working introduces you to people who understand these unique challenges and can offer you some helpful, practical advice.

With these advantages—and we’re only talking about one facet of co-tenancy—it’s easy to understand why more and more businesses are considering co-tenancy. If you want to experience these benefits and more for your growing business, CoTen has you covered. With quality office locations in highly sought-after Sydney CBD buildings, we provide collaborative working environments at a fixed price to suit your needs. As the only co-tenancy providers of our kind in Sydney, we offer a community vibe you’ll find beneficial for attaining more growth, success, and worker satisfaction. Contact us today to find out how we can give your thriving business the perfect office space it deserves.

What to Look for in a Good Office Co-tenancy Space

What to Look for in a Good Office Co-tenancy Space

 

What to Look for in a Good Office Co-tenancy Space

 

There is a remedy for the lack of collaboration and isolation that comes as a standard when working for small and growing businesses who don’t have a dedicated workplace.

And, its side effects can include: An increase in productivity, profitability, and professionalism. Which means SMEs can expect to go “pro” in all senses of the word. These are some of the many perks SMEs can expect when opting for an office co-tenancy space, such as what we at CoTEN provide.

However, before anything else, you should answer this crucial question: What should businesses or entrepreneurs look for in a good office co-working or co-tenancy space? We answer that in this blog so, read on!

 

1. Space Flexibility and Variety

 

For a small business anticipating major growth, the idea of locking in to a three-year lease will mean that you will either outgrow the space quickly and have to break your lease at great cost, or you will over commit to the floor plate, meaning you are paying excessive rent for your needs whilst you grow into your space.

Finding one office location, with a variety of sized workspaces that will allow you to move between as you grow significantly saves on costs, stress, and time, as sourcing the correct office space is a long labour of love!

Additionally, co-tenancy spaces that consider a variety of different areas including lounges with couches, community desks, meeting rooms, quiet spaces, and solo offices help to create a far more productive and creative open environment. This also results in an overall look that’s not dull and boring, which can lead to visual stimulation to increase positive activity.

According to OfficeVibe, 70% of those who work in co-working spaces reported feeling healthier than they did working in a traditional office setting.

 

2. Affordability

 

It’s no surprise that those in co-working or co-tenancy spaces benefit from major cost savings, especially when compared to businesses trying to work in a traditional office setting.

The cost saving in co-working spaces come down to shared resources. Because several businesses are sharing communal spaces and technology, the cost can be distributed among a larger group. And, with other maintenance of facilities such as the office internet already taken cared of, you’ll also be able to reduce your overhead costs.

Along with this, some co-working spaces also offer fixed pricing models that already provide a certain number of benefits to businesses and reduce the pressure on their budget. As such, when choosing a co-working or co-tenancy space, study the offered pricing packages. Go for those which offer more at lower price points or fixed pricing models that eliminate the charge-by-the-use system to make the most out of your budget.

 

3. The Chance to Form Professional Relationships

 

Ever borrowed a cup of sugar from your neighbour when you were all out?

According to Unispace, since the early 2000s, co-working or co-tenancy spaces have certainly evolved and has become an avenue for SMEs to invite more clients and collaborate with more businesses. This allows SMEs to strengthen their networks, resulting in beneficial partnerships or even new clients—all without having to leave the workplace.

This brings us to an important point: looking for a co-working or co-tenancy space that already houses a few businesses that you may want to work with in the future, or at least has the capacity to do so.

 

4. A Professional Look and Great Location

 

Your workplace also reflects your business. If it looks professional and not generally run-down or dirty, then your company will also be viewed in a more positive light. Therefore, looking for a co-working space that’s not only affordable but also looks great and has that professional appeal is important. This becomes even more crucial for growing businesses who are still trying to establish a good reputation.

Along with the internal and external appearance, you should also consider the general location of the co-working space. This is important because, while the facilities may be great, if it’s in an area that does not have easy access to public transportation services or the central business district, then you’ll have to deal with tired, disgruntled, and less productive employees who have a hard time commuting. A less than favourable location can also be a huge negative when it comes to attracting clients or partners—they may be discouraged by the distance and opt for other, nearer companies instead.

In a nutshell, go with a co-working space that looks good and professional inside and out and is also located within the CBD, or at least has easy access to public transportation systems.

 

5. Leisure and Learning Activities

 

“All work and no play makes Jack a dull boy”—this proverb has stood the test of time and is still true in today’s professional landscape. It simply means that too much work can lead to boredom and unhappy workers. And, when your employees are not satisfied, chances are they’re not very productive or, worse, thinking of leaving your business.

This is why, when searching for a co-working or co-tenancy space, choose one that offers learning and leisure activities as well. These will break the monotony of the everyday work cycle and encourage your employees to have fun, which, as studies have shown, can increase their productivity. Having learning activities also promotes employee interaction and engagement while potentially boosting their skills and capabilities. For example, here at CoTEN, we have regular Lunch and Learn activities which provide business insights for guests as well as a sports team called the CoTEN Comets which encourages employees to play basketball.

Happy and satisfied employees also tend to stay longer, relieving the pressure on your HR department and building company loyalty.

These are what you should look for when choosing a co-working or co-tenancy company, and these are also the very same things CoTEN offers. With your growing business in mind, we offer quality office spaces within a prestigious CBD location along with quality amenities—all of that with a fixed pricing model that makes things easier for your budget. In need of an office space you can be proud of? Contact us today; we’re more than happy to help you out!

The Advantages of a Flexible Workspace over a Traditional Office Setup

The Advantages of a Flexible Workspace over a Traditional Office Setup

 

The Advantages of a Flexible Workspace over a Traditional Office Setup

 

For start-ups and SMEs, early stage growth is an exciting time fuelled with possibility and potential. Moving fast and upwards means that a young company needs to ensure it has a solid, dependable workspace arranged so that time and effort can be focused on managing growth rather than worrying about where to turn up each day.

Having a professional workspace your business can call its own is certainly a big shift towards legitimacy. And, for new and growing businesses, this goal is being offered by co-working and flexible workspaces that have significant advantages over the traditional office setup, such as the ones below.


A Different, Exciting World

 

Traditional offices worked well in a less connected environment, when floor plans designated a solid company hierarchy and work was done “in-house.” But finding the perfect office was tough, as it meant hard negotiations to clinch a space that may fulfil the needs of uncertain growth forecasts over a multi-year period. Planning for change was therefore challenging, not to mention unfairly imbalanced against the leaser.

However, the shift to a more meritocratic and modern work culture means results are what matter, and the flexibility afforded by co-working and flexible workspaces caters to the more “liquid” and agile nature of such enterprises. So, what is the best way to provide the most flexible solution for a company’s needs when starting up? What’s the sweet spot for a business which has, say, 4-20 people, as an example? Here, agility and flexibility are important in terms of what the workplace offers to match the changing needs of the growing business, something a traditional and rigid office setup may find hard to do, being able to “flex” your office space up as your company grows is extremely important, remember, your floor-plate needs to fit your business, not your business fit your floor-plate!


Reduced Overheads

 

A shared tenancy space offers start-ups and small businesses working environments that are turnkey, yet without the hassle of “charge by use” resources that rack up debilitating costs in the serviced office model. Shared working environments offer a huge range of benefits for growing companies: you can share front office facilities to reduce costs, engage in open collaboration areas, and lease according to short or longer-term needs, and most importantly, have access to impressive board rooms that you are not paying to have stand empty for 5-6 hours each day!

The savings brought about by reduced overheads costs can then be used to fuel the growth of the business in other areas. Reducing budgetary constraints while meeting workplace demands is something growing businesses aim for when it comes to sustaining their progress.


Ditching Restrictive Confines

 

A major issue with traditional offices is the “siloed” mentality. Working within a company that uses one whole floor or building meant you were seldom outside of it. A company’s ability to understand competitor products, business models, and viewpoints was hampered by an inward-looking focus. In an interconnected, increasingly global and more collaborative economy, it’s damaging to hermetically seal off your talent.

Inspiration comes from strange places, and research now firmly indicates that we are more creative workers when we allow regular unhindered moments of non-working throughout the regular working day. Flexible workspaces opens up the options for spontaneity and interaction, as well as pure fun. Indeed, CoTEN, The Co-Tenancy Company is the first organisation in Sydney to actively promote so-called “Lunch ‘N’ Learn” events that mixes learning, lunching, and interactions with different tenants, as well as having its own mixed basketball team that plays once a week.

Learning to let go of the traditional office setup’s more confined mentality and ambience can open up the pathways required to realise the talent you have on your team. Let your people work to their own strengths and see how a more free-flowing and dynamic workplace can benefit your business.


Added Collaboration and Networking

 

Serviced and traditional office setups provide defined spaces for people to work in, which means they lack the potential for networking and idea-sharing that flexible workspaces have. Getting beyond the start-up phase means the added importance of forging alliances with other companies and determining the level of collaboration you need to maintain a fresh, competitive perspective.

This is something co-tenancy and flexible workspaces offer. Since you’re working with other businesses within the same vicinity, collaboration is encouraged and enhanced. Through community events or through simply eating together during lunch breaks, employees from different companies can talk and share ideas with each other. This form of communication promotes not just casual talk but also professional collaboration and even networking that can lead to even more growth for the businesses involved.


The Increasing Appeal of Flexible Workspaces

 

Since the idea of co-working was introduced in 2005, the number of established spaces has grown globally to almost 15,000, and in Australia the trend has been reflected by a 300% increase in co-working locations over the last five years. Critically, around three quarters of those currently using co-working spaces intend to remain doing so this year, and since over half of larger companies now make use of shared office space models, developing beyond SME size means that co-working is a part of a practical and reasonable strategy for long-term structural growth.

In a nutshell, co-working and the advantages of flexible workspaces aren’t something that only SMEs or newer companies notice and enjoy. Established businesses are realising their advantages, too, especially those that are planning to expand and establish their presence in other regions quickly and more seamlessly.


Exercise Your Right to Choose Better

 

For those planning to enjoy the benefits of a flexible workspace (or simply tired of the confining nature of a traditional office setup), CoTEN, The Co-Tenancy Company is here to help you out. With offices in Sydney’s CBD, we offer businesses professional grade workspaces with top-notch facilities and amenities within high class buildings and prestigious locations you can be proud of. Flexibility is key for company growth, something that our workspaces offer. Putting your company on the map may be an easier move than you thought—contact us today to know how we can help you do just that.

What Your Office Desk Reveals About You

What Your Office Desk Reveals About You

 

What Your Office Desk Reveals About You

 

There are many privileges to my job. The first is getting to know each and every one of my tenants, no two are the same. As I drop in to say hi, I am amazed at how different and unique are the ways in which our tenants are able to make their space “theirs”—to impart personality into their work space. Being with CoTEN, I’m constantly being reminded of and deal with certain elements that are usually present in the workplace, the most recognisable of which is, perhaps, the humble office desk.

Often overlooked but nonetheless still a necessity, your office desk is more than just a table you put your work stuff on. In case you didn’t know, your office desk can also tell your colleagues (and basically anyone who can see it) several details about you. After all, you spend, on average, over five hours a day at it—with the time you spend with it, you’re bound to leave some sort of imprint on it. In fact, you could look at your desk as that part of you which never leaves the office.

That’s why, for me, it’s interesting to know what impression you’re giving your colleagues at work through your desk. So, what is your office desk—a core piece of your work identity—saying about you?

Being in the business of providing quality workspaces to other businesses, I’ve come to know that how an office desk looks like or is set up can be related to a person’s attitude or behavioural traits, more importantly I am struck by the difference between my desks and Kat, who sits next to me at 35 Clarence Street. Those who pop in to my office normally comment, but in case you have not come to the prow of 35 Clarence, the picture at the top of this blog is the evidence you may need to prove that the desk is an advert to your working style.

So I decided to do a bit of research into what those who study these things for a living would say if they came to visit my work pod. The answers may surprise and frighten you, but try to work out the image your desk projects to the rest of your team from my findings, that I share below…


You might be a minimalist if…

 

Your desk is so tidy and straightforward that it’s hard to believe you get actual work done on it! Clean and orderly, it (and the surrounding space) is usually characterised by the following:

– Neutral colours and themes
– A simple, very clean keyboard, mousepad, and dust-free screen
– Little to no desk personalisation
– Paper, envelopes, and other essentials that are neatly stacked

Your desk tells others that you’re there to accomplish your tasks, no more, no less. You prefer fewer distractions and are generally a focused and conscientious individual. On the other hand, being a minimalist, you can also have a reputation for lacking creativity at work but, hey, at least you get the job done.

This theme is best if: you want to avoid distractions and do a good job.

 

What Your Office Desk Reveals About You


You might be a techie if…

 

Your co-workers won’t notice your desk because of all the digital devices on top of it—it might even look more like a shelf in a gadget store than an actual office desk! In my observation, you’re basically telling your colleagues that you adore the latest technology if:

– Your desk has more than one screen you use for work
– Your desk has the latest superphone on display
– Your desk has other gadgets such as powerful laptops and tablets
– Your desk has at least two chargers under it

Being a techie, you are curious, insightful, and fun. You always want to find ways to increase productivity and often impress others with your knowledge about technology. This can be a bane as well though; you’re likely the office’s go-to person when it comes to your colleagues’ gadget woes, which can be distracting. You can also be over-reliant on technology, rendering you less useful when there’s a power outage or you don’t have access to your devices.

This theme is best if: you’re obsessed with finding ways to do your job easier and faster through technology.


You might be an extrovert if…

 

In the office spaces that we manage, desks that come with colourful and bold design elements that make them easier to spot amidst a sea of otherwise boring office desks usually belong to the extroverts. Other defining characteristics of this kind of desk include:

– Having bright, fun colours
– The presence of different accessories, gadgets, and knick-knacks
– Pictures of your family and friends on your desk and around your workspace
– Customised items such as a computer screen with a different design, attracting more attention to your desk

If you’re an extrovert, you’re assertive, fun, and insightful—all attractive workplace qualities for me. Be sure to get your work done though; you can have a reputation for being too chatty and easily distracted.

This theme is best if: you’re showing colleagues you’re fun, friendly, and approachable.


You might be a hoarder if…

 

You have a hard time using or organising your desk because of all the things on it, both needed and unnecessary. Now, to be honest, my desk most likely belongs to this category. That desk in the image below that looks like a storm passed through it? That’s mine, believe it or not!

This kind of desk usually has the following:

– A plethora of unused stationery supplies
– A slew of other things that you really don’t need, from old assignments to empty boxes
– Plenty of old pens and coffee-stained post-its
– Loads of office supplies (a reason why your officemates frequent your desk)

Office hoarders are usually known for being welcoming and friendly. While your desk might seem very messy and others might see you as unproductive or easily distracted, you’re usually still able to do your job quite nicely. I’ve learned that it’s in the way you’re able to use your desk—other people may find it distracting but for you it’s actually “organised chaos.” Plus, you have quite the distinction of “having everything,” which is why your officemates frequent your desk more—definitely good for making more friends in the workplace!

Just be careful though and don’t let your things reach the desks of the person next to you—he or she won’t like you for it. I recommend making full use of your office cabinets or, if you still run out of space, bring storage boxes if you really can’t let go of your items.

This theme is best if: you want to make sure you have everything that you need and will possibly need.

 

What Your Office Desk Reveals About You


You might be an introvert if…

 

You’re almost the opposite of an extrovert—usually silent and shy, likes solitude, independent, and self-aware. An introvert’s desk is characterised by:

– Having stacks and piles of everything on it, from papers to books
– Being more of a fortress than a workspace
– Having a low-profile or neutral colour scheme
– Everything you need is within easy reach—you don’t like drawing attention to yourself

As an introvert, you may have something of a reputation for being shy or unapproachable. However, in reality, you just want to show your colleagues that you aim to be more focused, driven, and creative. Introverts are also quite efficient and perceptive, although they sometimes tend to be distracted or overwhelmed by too much stimulation or activity around them.

This theme is best if: you want to stay on the periphery, get the job done, and focus.

Whether we like it or not, impressions matter not just in the office but also in other aspects of daily life. Now that you’ve seen my desk, take a look at your own and ask yourself “what is it telling my bosses and colleagues about me?”

 

In need of a high quality space which promotes growth and collaboration?

 

If yes, then I’d like to tell you more about my company. Currently the first and only company of its kind in Sydney, CoTEN, the Co-Tenancy Company, meets the needs of growing businesses who want their own space in a high grade office building, access to great presentation, board and interview rooms, and also want the flexibility to accommodate company growth.

Unlike serviced offices, CoTEN operates on a fixed-price model for increased affordability and offers dynamic, high standard, and sought-after office locations to blooming businesses. We pride ourselves in providing our clients a work environment that not only helps them grow and progress but also fosters communication and collaboration. Is your business needing this kind of office space? Click here to know how we can help you out.