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4 perks to using coworking space

From cost benefits to collaboration opportunities, here's why startups are flocking toward coworking spaces. Getty Images

Over the past decade, there has been a dramatic increase in a new form of loosely structured, open-focused offices known as coworking spaces. These spaces are changing the way that entrepreneurs are approaching business, proving to be a valuable alternative to the traditional office setting.

Coworking spaces differ from conventional office spaces mainly due to the fact that they are often occupied by a multiple of different companies. Usually startup and small business focused, coworking spaces can house companies anywhere from individual freelancers working solo to teams of 20, 30, or more. While every tenant has different needs and priorities when it comes to office space, there are a number of advantages to the coworking model that any entrepreneur considering a change in scenery should consider.

1. Cost effective
Startups and entrepreneurs are frequent tenants of coworking spaces, leading to managers of those spaces understanding the frugal nature of their potential tenants. Coworking spaces will often be flexible in providing a package that fits the entrepreneur's schedule and budget. While a traditional office space might force you into a long-term lease on space, coworking spaces will likely offer a number of membership packages, including day passes, open desk seating, dedicated desk seating, and private offices.

2. Collaboration
Traditional office spaces carry a stigma of individualism and private focus that can hinder collaboration among tenants. Coworking spaces thrive on the opposite approach, establishing a culture of collaboration and community. For example, imagine an entrepreneur fresh off exiting their 8-5 corporate job and agonizing over the scary new world of startups. A quick walk into the kitchen can lead to striking up a conversation with a fellow community member, potentially securing an immediate connection to a mentor, investor or service provider. While those sorts of interactions may seem impossible in office, it is common for individuals from multiple companies with multiple strengths to interact and help each other.

3. Resources
In addition to merely encouraging a collaborative atmosphere, many coworking spaces will put the idea into practice themselves by offering a number of services in addition to office space. Some will offer educational speakers and workshops to come for a period of time to inform community members on a variety of topics. In addition, many have preferred service providers who can give discounts to community members.

4. Energy
Arguably one of the most important factors when considering coworking versus a traditional office is the enthusiasm and energy of the space. While potentially difficult to put into words, the atmosphere can have a powerful impact on how you approach new challenges and solve problems. The feeling of electricity in a coworking space when a fellow member signs a major client, closes a round of fundraising, or finishes a crucial project is contagious.

The future of work is changing every day. Digital collaboration is increasing exponentially and reducing the need for everyone to be in one room. Laptops are more popular than ever, allowing the flexibility to work wherever you have fast wifi and a strong cup of coffee. As these changes become more commonplace, coworking will likely continue to be a popular solution for entrepreneurs across the world

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Jake Askew is the director of member relations at The Cannon and Cannon Ventures.

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Building Houston

 
 

A new executive hire for McCord is going to focus on bringing smart city technology to Generation Park. Rendering courtesy of McCord

A 4,200-acre master-planned development that's rising on the east side of town has created a new role within their executive suite to drive innovation and a new smart city initiative.

Houston-based real estate developer, McCord, has hired Nick Cardwell as vice president of digital innovation. In the newly created role, Cardwell will be tasked with bringing data-driven solutions, digital transformation, and other smart city innovation to Generation Park.

"Sensor technology, machine learning, and big data capabilities have exploded in the last decade and are rapidly outpacing the built world," says Ryan McCord, president of McCord, in a press release. "Bolting this digital future onto aging cities is no easy task. With Generation Park, we have a once-in-a-lifetime opportunity to start from the beginning and rapidly prove up hardware and software technology solutions, at a massive scale."

Both the size of the development — which is larger than Google's Sidewalk Labs project in Canada and Toyota's Woven City in Japan, according to the release — and location are what provides Generation Park with this opportunity for smart city technology.

"Generation Park, while being physically many times larger than most smart city projects, also benefits from being located in a more physically, socially, and economically diverse test bed of a notoriously low-regulation part of the United States — Houston, Texas," McCord continues.

As the development is currently still being worked on, McCord's current focus right now is tapping into data to drive project and design decisions.

Cardwell has a background in technology and was previously overseeing operations and engineering at Austin-based construction software company, Bractlet.

"McCord's vision for Generation Park is the future of commercial development, pushing digital innovation into the forefront and leveraging cutting-edge technologies throughout their portfolio. I am beyond thrilled to join the McCord team and help make that vision a reality," says Cardwell, in the release. "Through the use of experiences, data, and collaborations, we will accelerate learnings and, in turn, advance resources that will truly improve people's lives."

Nick Cardwell has been hired as vice president of digital innovation at McCord. Photo courtesy of McCord

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