Reducing costly overhead is one of the most powerful ways to free up cash for growth.
Most small businesses at the early stages have too many fixed costs to operate their businesses, keeping them from getting off the ground. For many, it’s their workspace. By considering a coworking space Tulsa has to offer, you can drastically reduce these overhead expenses.
A common solution will be to do their work from home. Here’s why you shouldn’t:
- Meeting your clients at home is unprofessional.
- You can’t get a Google business listing (Google is the number one search engine for people to find you).
- You’ll drown in unexpected expenses like wifi, printing capabilities, etc.
If you’re trying to rent an office instead, you’ll also be very limited in what you can choose. And just like working from home, you’ll have to pay for your utilities, wifi, furniture, and more.
Many small businesses in Tulsa are finding that coworking space Tulsa provides an affordable and professional alternative, avoiding these additional costs.
I recommend using a coworking space to scale your business effectively without these burdens. Here’s how you can use one to grow your business.
Leverage flexible workspace options.
One of the biggest values of a coworking space is flexibility in pricing.
If you’re starting with very little income, a coworking space Tulsa offers will have inexpensive membership options to get your business started. This allows you to channel your spending towards other areas of your business that will help you make more money. Then as you grow and require more space, you can simply expand your membership option.
Starting and growing a business is streamlined with coworking.
I recently saw this play out for one of my clients at Catalyst Coworking, a prominent coworking space in Tulsa.
My client started with our basic coworking membership to run his payment processing businesses. He had only a handful of clients and some money saved up to get started, but not enough to afford a traditional office lease. By coming to my coworking space, he had flexible options to start with low payments.
As he grew his client base, he upgraded his membership to use our double booth space and more of our resources to scale his business. The result? He went from making a couple hundred dollars a month to five thousand a month.
That wouldn’t have been possible without coworking, which is the great equalizer for businesses.
There’s no longer a giant barrier to enter the market. Gone are the days of having to have $50,000 in startup cash. You can start up with $500 or $100 even at a coworking space Tulsa entrepreneurs use to get started.
Utilize coworking space Tulsa resources to grow.
At a coworking studio, you’ll have access to highly valuable resources to help grow your business.
Typically, you’ll receive essentials like:
- Mailboxes
- Networking possibilities
- Coffee bar to keep you going
- High-speed internet
- 24/7 access to a space
- Larger meeting rooms
- Silent booths
- Printing and faxing
Here at Catalyst Coworking, we also offer complimentary micro-courses to members on effective business frameworks and insights on how to scale their company. As one of the coworking spaces Tulsa residents appreciate for business support, Catalyst provides a supportive environment filled with resources.
There’s also something to be said about getting out of your home to work. When you’re in a more creative space, surrounded and cultivated by eager entrepreneurs like you, that kind of creativity and motivation will push you farther in your business than if you were by yourself.
Utilize networking for leads.
When you’re in an environment with other startups and well-seasoned entrepreneurs, you will naturally grow your business network, which will unlock more and better business for you.
To utilize this, spend some time working at your coworking’s coffee bar. If you see another entrepreneur having a coffee break or working next to you, strike up a conversation. Or, if they have monthly coffee meetups like we do here at Catalyst, attend those. The whole point is to meet other people and make connections, which can be potential leads for you.
Most people are at coworking spaces because they want interaction. Take advantage of that.
I actually scored a huge contract with one of our biggest clients from doing just that.
We both met at one of the coffee meetups at Catalyst, one of the coworking space Tulsa venues that foster community. She told me about her struggles getting her business site set up. She had the funding to build out a full website, but what she wanted to do was beyond her abilities. Making it worse, her service provider was making her pay fifteen to twenty thousand dollars.
I told her we could do it better and faster than those who quoted her. I pitched her my offer and she accepted, simply over a coffee meetup.
Oh, and she has over 400 clients that would benefit from the same work, which has the potential to be a half-million dollar contract for us over two years.
Coworking has the potential to exponentially grow your network, and as a result, your business. If you want to scale your company, check out a coworking space near you today.
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