Wanted to Share - Article -

Recently I read about an article about Small Biz in Personal Money August 2012 Edition. The topic is quite interesting and I planned to share with everyone.

Topic: An Office Away From Office.
What is this? Co-working spaces - which provide nomadic executives and businesspeople with an office setting and some of the comforts of home - By Tho Li Ming.


I am not sure how long this concept has been around but it's totally new to me. To me, it is an evolution of business concept to caters to small business owners / would be entrepreneurs. Gone were the days where we MUST get an office before we can start operating. Now we can go to one of these "office" on monthly, weekly, daily basis to do their day to day task, meeting clients and etc. Customers pay affordable fees to enjoy the provided facilities.

According to one one the featured co-founder, the business was set up by accident, He needed an office but as he didn't need a big space, he converted the place for freelancers or entrepreneurs can work in.

Some might think that this is not a good business concept as most people can opt to meet up clients in restaurants, fast food outlets, hotel lobby and etc. Why pays for extra when you can get the same facilities for FREE? Although I do agree that most hotels, restaurants, fast food outlets and a lot more places are providing free internet and free seats but have anyone ask if their clients wishes to meet as such places? Do you want to meet potential customers in a noisy environment to discuss on a business proposal? Heck no... the last thing I need is someone next table listening what I say. So, if this type of services are available at my area, I definitely wiling to pay and have my meeting there. So readers out there, if you plan to start one in KK, contact me as your 1st customer ya..

Summary on the comparison on Co-working Space versus Restaurant / Cafes 

Facilities
Co-Working Spaces 
wifi, plug points, workstations, drinks, food (optional), security elements for laptops, office facilities such as printers, scanner and fax machine, white board and meeting rooms (optional).

Restaurants / Cafes / Fast Food Outlets
wifi, plug points, tables, chairs, food and drinks

Pros & Cons


Co-Working Spaces 
Pros - Dedicated and customised workstations, sufficient plug points, stable and strong internet connection and security features for laptops.
Cons - Higher charges compared with restaurants, according to the hour of the day

Restaurants / Cafes / Fast Food Outlets
Pros - Pay for food and drinks only. Wifi is usually free
Cons - Noisy, unstable and slow internet connection

For full story, you can go to the nearest bookstore to grab a copy of August Personal Money.

Extras from my on input.

Evolution of Business Offices Concept

Conventional Offices on renting basis or fully owned >>> Virtual Offices which provides premium business address and secretarial services >>> SOHO (Small Office Home Office) which provides the best environment for you but at the same time a lot of distraction. The main being TV and your BED! >>> Co- Working Spaces - new concept to provide facilities for freelancers and entrepreneurs to do their work.