Life of a startup owner is never a cakewalk, as Scott Belsky (Founder of Behance) says:
Therefore, as a startup owner, your plate is always full of tasks like hiring, payroll, team management or even finding the right place to work out of.Furthermore, the ripples of your decision last not only to you but also extends to your business and those associated with it.Speaking of which, one important decision is to select a workspace for your startup since that is one of the deciding factors for your business’ success.
The space you work out of has an impact on your and your teams’ productivity, growth and professional achievements. Therefore, in this blog, we are going to discuss some of the crucial aspects to consider when looking for a coworking space for your startup.
Because with the infinite options available, it can get overwhelming to select the one that’s ideal for your business type. You will understand how each factor plays a critical role, what you need to know when looking for a coworking space for your startup, and how to find the best one. So let us examine some factors you should consider while looking for a coworking space for your startup.
1. Reflect On Your Needs:
Even before you start looking for spaces, you need to underline the reason that made you look for a coworking space in the first place.This could be as simple as seeking a faster internet connection, finding a quieter or work-conducive environment, or working with your co-founder under one roof. Other reasons could be to accommodate your team, conduct company or community events, and utilizing the meeting rooms for prospect/client meetings (Source:MYHQ)
Furthermore, needs could also stem from the number of employees you have and their expectations from your company also. An aesthetically pleasing coworking space is always a boon for employees and helps in attracting and retaining talent.
Furthermore, statistics revealed by Officevibe.com shows:
You can have a remote team, or have hired someone to work with you and hence the needs for coworking would change.In the first case, you will need to communicate over the internet, therefore you’ll need a quieter space, a conference or meeting room to speak. While in the latter situation, you will need a bigger space that can accommodate your team. Also, consider that the team size usually goes up and down in the startups and the chances of quick growth are more, hence, you would want to look for coworking spaces that provide flexibility in the subscription.
The idea here is: to clearly identify your expectations, making the search easier and simpler. The end result will be a coworking space of your choice that you will enjoy working in for a longer time period.
2. Coworking Space Location:
Once you have decided your needs, next comes the step to consider the location of coworking space for your startup.Here are 7 reasons space’s location is paramount to your startup:
Location acts as a deciding factor for your startup’s success in many ways. The space should be such that your employees thrive, taking their personal and company’s success to the next level.
This ensures that your employees feel like they are a part of the culture, feel belonged and comfortable in putting forward their view-points. Therefore, searching for the right location is the key. Now let us see what more are the factors to consider.
3. Consider Paying a Visit:
By now, you would have done all the research on the internet, asked some of your friends and/or colleagues and now have shortlisted some of the coworking space that seem right to all the above criteria?Next, you need to go out and see the space.Pay a visit, walk around the area, analyze if the seating structure is correct for the team size you have and if the puzzle pieces seem to fall into the place. This way, you’ll also get to understand the feel of the coworking space, atmosphere, and ambiance. You will know whether or not the space is suitable for your needs and most importantly, does it align with your company’s culture?
Here’s how the coworking space affects your company culture:
What you can preferably do is take a subscription of a day or two, and work in the space, utilizing the available amenities, walking around the space and even interacting with the coworkers.Evaluate in real-time: what a day in coworking space is like and if that particular space will be fulfilling to your and your company’s growth.Don’t forget – coworking spaces are a long term commitment, they will not only become your second home but also help your business flourish, so it is wise to take your time figuring out the best one for your business.
Coworking space, atmosphere, and ambiance. You will know whether or not the space is suitable for your needs and most importantly, does it align with your company’s culture?
4. Know What the Future Holds:
So you have made quite a few decisions till now, haven’t you?
But wait, one thing you definitely want to consider is foreseeing – will the coworking space comply with your growing business needs?
Every startup owner looks for ways to expand their business, their team, clientele and more. Therefore, you want to consider if the coworking you are looking at, can accommodate your expanding needs. From the cash flow perspective, coworking spaces for entrepreneurs are considered ideal.
Furthermore, 82% of coworkers say that joining coworking spaces has enhanced their professional network.Alongside, you will also need more assistance like a mentor network, and administration support, that is provided through our startup accelerator program, LaunchPad.Through this program, entrepreneurs can focus on accelerating their business while we assist them with other amenities.
5. Amenities:
With the already stringent budget in many startups, you do not want to end up fretting over too many day-to-day expenses.Therefore, the coworking space should be able to provide some basic amenities like printing, office supplies, and coffee. Coworking spaces are boon for tech startups primarily because they provide hardware on rent which otherwise purchasing would have been costly.With this, you also need to consider whether the budget is too much or limiting, based on the stage your startup is at. If you have a team of 10-30, your needs will differ from the one who is just starting out and has a team of fewer than 10 people.
Wrapping Up
So with all these factors to consider, you are all set to pick your ideal workspace and accelerate your business growth!At Pannal, you can walk in and try out memberships, walk around see the culture and make your decision.
If you have any queries, contact our sales team anytime and they will assist you!
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Raju is an accomplished Business development leader offering over 19 years of experience, driving revenue through generating, building and maintaining client relationships. Raju is very creative and dynamic marketer with proven expertise in consistently penetrating new markets to ensure sustainable revenue growth. He leverages exemplary communication and in-person meetings with clients to establish presence and build a positive brand while fostering continuous client engagement. Adept at working effectively to achieve goals both as a cross-functional team member and business leader.
Chiranjiv is profit-oriented Chief Executive Officer with demonstrated success with 20 years’ experience in managing finances, administration, IT team, achieving cost reductions, and improving customer satisfaction in customer-facing operations. Chiranjiv has expertise in management and implementation of complex technologies and successful organizational integrations also including unique digital marketing planning and execution.
Kobybo – CEO
A multi-faceted professional, skilled in blending creative intellect/insight and sharp planning skills for managing business operations & meeting top/bottom-line objectives as well as amalgamating the industrial experience with classroom learning, in field of Marketing Management, Brand Management & Entrepreneurship. Himanshu has worked in the Banking domain and has gained in-depth insights in this sector. In his career Himanshu has handled the portfolio of 73 bank branches across NCR & Western UP, where he efficiently managed portfolio of business worth Rs 500 million per annum and achieved growth rate in double figure i.e. 250 million INR in 4 years with growth rate increased from 3% to 14%.
In recent years, Himanshu shifted his attention to the e-learning sector and has successfully established one of the top E-learning enterprise in Dehradun, Uttarakhand; with which Himanshu has successfully helped bankers & exporters to enhance their total revenue by INR 360 million. Himanshu brings in vast Sales and Marketing experience to the community at Pannal.
Manmohan is a serial entrepreneur, angel investor and a qualified Chartered Accountant. He is the former CEO and Co-Founder of Yebhi.com and former CEO of Vishal Retail Limited. At Yebhi, he successfully raised several rounds from prominent VCs such as Qualcomm Ventures, Nexus Venture Partners and Catamaran Ventures. Manmohan started his career as an entrepreneur, setting up the first private gold mine in India. Thereafter, he was the CEO of Vishal Retail and was instrumental in expanding its business in India. With his practical industry experience, he is on a journey to evolve the Indian E-commerce and logistics framework.
Partner – Cadence Partners
Ravish is an independent design professional having obtained a B.Arch. from School of Planning and Architecture (SPA) New Delhi. he is a member of the Panel of Council of Architecture for Inspection and Accreditation of Architectural Institutions since 2002. He is a member of various committees constituted by COUNCIL OF ARCHITECTURE 2002-2004 and also a member of Technical Advisory Committee for appointment of consultants for India Institute OF Management, Rothak (IIM-R). He has handled architecture, interior design and remodeling oriented projects all over the country and has been extensively involved with retail design, corporate design, hospitality design and creating corporate identity system. His current projects include work for B.P.Os and K.P.Os for various telecom companies in India, Africa and South East Area. He is also involved with I.T. sector projects in North and South India.
He has industry focused knowledge in creative strategy, art direction, advertising, logo design, interior architecture, furniture, comprehensive planning, branding & identity, strategic planning, urban planning, corporate branding, architecture, marketing, photography and mixed use.
Partner – Direct Tax, M&A
Vaibhav is a fellow member of the Institute of Chartered Accountants of India (ICAI) and a company secretary. He has worked with international consulting firms for more than a decade before venturing into own consulting firm. He has over 16 years of post-qualification experience in corporate tax, international taxation, transaction tax advisory and business restructurings along with valuations, compliance and regulatory matters.
Vaibhav has extensive knowledge and expertise on advising on transaction structuring including demergers, acquisitions, corporate restructuring, capital restructuring, promoter shareholding, family settlements, advice on technical collaborations, cross border taxation like inbound and outbound investment structures, international holding structures, creating holding structure to capture value of operating companies, succession planning, enhancing promoters’ stake and tax due diligence.
Digital Marketing Manager – Pannal
Varun graduated in Business Administration from IIPM, New Delhi; and later completed his Master’s in Strategic Marketing from Coventry University UK. Varun is a full-stack marketing professional who manages both Online and Offline marketing operations for Pannal. With more than 5 years of work experience Varun has worked extensively in Digital Marketing, Search Engine Optimization and Website development domains, from working with Ecommerce Startups like Nutrabay to top IT training MNC like NetCom Learning Varun has acquired extensive hands-on experience and skills which allows him to create potent Marketing strategies to help the organization achieve their goals efficiently.
Email: marketing@pannal.work
HR and Payroll Manager
He has an MBA from ICFAI University
Bhishek has total of 10+ Years of rich experience in handling different HR functions/ verticals as per the organizational policies and defined roles. He works on strategic initiations, maintaining and enhancing the organization’s human resources by planning, implementing, and evaluating human resources policies, programs, and practices. He has developed an expertise in recruitments, talent acquisition, employee relations/ engagement, payroll and compliances.
Email: hr@pannal.work
Corporate Counsel- Pannal
Madhavan is a corporate lawyer and completed his law from Campus Law Centre, Delhi University. He has vast experience in corporate laws and litigation with a focus on Fundraising, M&A, Joint Ventures, Private Equity, Commercial Contracts and General Corporate Advisory. Before setting up ‘Law Office of Madhavan Srivatsan’, a boutique law firm, he has worked in corporate laws as a Partner with one of the leading law firms in India and with a senior advocate in litigation, as well as worked as in-house counsel.
Currently, Madhavan provides legal advice to several entrepreneurs, start-ups SMEs and corporates. He has industry specific expertise in renewable energy, education, consumer goods, trading and merchandise and sports law. He has suitable mentorship quality for each of the stakeholders in corporate matters, whether it be the company, founders or investors, and is the perfect Friend-In-Need for our members at Pannal.
Partner- Cadence Partners
He is MBA, Engg, PMP Certified, MPM, ITIL, SOX TOGAF, ScurmMatser, SAFe, BI 101
Brings 35 years + experience in International Business, PMO/Program-complex Project Management, Best Practices and creating Center of Excellence. Worked as a Technical Advisor/Vice President/Country Head/Director with Multinationals, Global Corporate groups based out of UK, US and SE Asia. Worked with Fortune 100 Groups in Strategic IT Consulting, Healthcare, Supply chain, Entertainment, Automotive etc providing Creative Business Solutions, Process Excellence, complex Project Management, launched Products, created USP in global markets and making Outstanding things happen.
Author of Book ”Make Outstanding Things Happen with Center of Excellence”- winner of Independent Press Award. Founder@ BPOP Group @ linkedin for Best Practices where Mind meets Excellence.
Senior IT Administrator- Pannal
Lokesh is the Senior IT Administrator at Pannal, bringing in more than 10 years of experience to provide integrated technical expertise to our members. He holds a Diploma and B.Tech in Computer Science & Engineering, with specific focus in operating systems, computer networking, computer architecture, internet and e-commerce. He has worked at several organisations including Ramtech Software Solutions, ADI, SilverFox Web-Solutions and India Mart. He has also co-founded Aaden Business Solutions which provides quality and economic IT solutions to startups, SMEs and larger organisations. At Pannal, Lokesh is the single point of contact for all your IT needs.
Email: itsupport@smprofessional.info
Associate Partner- Cadence Partners
TCS is an Associate Partner at Cadence Partners LLP. He is a qualified Chartered Accountant and an alumni from St Xavier’s College Kolkata. He has more than 30 years of industry experience in Strategy, Business Planning, Outsourcing, Forecasting, Management Consulting, Financial Modelling, Software Project Management, Offshoring, Managerial Finance, Process Improvement, Business Transformation, Strategic Planning, CRM, Mergers and P&L Management.
He has global experience, having worked with Shaw Wallace Co, Xerox India, Qualcomm India, EDS, IBS Software Services, Brahma Group and Birlasoft. As a visionary and thorough professional, he is associated with Cadence to provide virtual business support to entrepreneurs, startups and SMEs.
Senior Partner- Cadence Partners
Shafali is an entrepreneur, founder, angel investor and a professional mentor. Shafali is a Chartered Accountant (an all India Rank Holder – 47th), an alumni of Sydenham Mumbai(B.Com.) and Welham, Dehradun. Her experience is a blend of over more than 25 years in direct industry as well as advisory. She brings with her a rich experience in providing support to different operational verticals including finance, accounting, HR, facility, administration and legal compliances. She has worked in various Indian and foreign organizations such as Dentsply, Butterworths, the Emirates Group, Electronics Data Systems (EDS) and Astra Business Services.
She also co-founded Knowledge Podium Systems and was integral in their product development, setting up their financial, accounting & HR frameworks, and compliances. Her core expertise is to be able to act as a business partner to the core management team, bringing in depth experience of various industries and integrating different organizational verticals.
Email: shafali.agarwal@cadencepartners.co.in
Senior Partner- Cadence Partners
Mukul is a business leader, disruptor, founder, angel investor and a professional mentor. He is a Chartered Accountant, LL.B (Merit Holder and Gold Medalist) and B.A in Political Science. Mukul brings in more than 29 years of general management experience, P&L management, business strategy & planning, evolving new business models. He has worked with several MNCs, Conglomerates, BPOs and startups. He has global experience across India, South-East Asia, Europe and UAE, having worked in various Indian & foreign organisations such as HPCL, Hughes Software Systems, SDRC, UGS, Eurostar, Astra Business Services and Dassault Systemes.
He has lead different portfolios including finance, accounting, tax, HR, IT, procurement, infrastructure development, corporate simplification, BCP &security, CSR, sustainability, adherence to carbon footprint, and other cross functional business operations. He has also managed legal & statutory compliances, been part of management committees, arbitrations and employee litigations.
Combining his business and management expertise, he has focused on providing strategic and operational support to startups in their evolution process as their virtual COO/ CEO/ CFO.
Email: mukul.agarwal@cadencepartners.co.in
Phone Number: +91 9810092430
Co-Founder – Pannal
Manav is the co-founder, head of sales and operations at Pannal with a focus on leveraging his experience to provide the best customer experience to our members. He holds a Bachelor Degree in International Hotel Management from Les Roches, Switzerland in addition to an MBA in leadership & finance from Glion Institute of Higher Education, Switzerland. He is also an alumni of the British School, New Delhi. Before co-founding Pannal, he has worked with established hotel conglomerates such as the Westin, Taj Palace and Lemon Tree.
Email: manav.sales@chryslertechcentre.com
Co-Founder – Pannal
He holds an LL.B. (Honors) from Durham University in England and a Bridge Course (LL.B.) from National Law University (NLU) Delhi. He is also an alumni of the British School, New Delhi.
Having shadowed a senior advocate in the Supreme Court and interned in several prominent law firms globally, he has gained legal experience in corporate laws, M&A, competition law, constitutional law, litigation, direct & indirect taxes.
An active member at Pannal, his efforts are targeted to manage the legal framework, design and develop the infrastructure, drive the marketing drive, ensure client satisfaction and provide operational support to the entire team.
Email: connect@pannal.work