FAQs – GoodWorks CoWork

FAQs

  1. Who works at GoodWorks CoWork?

We have companies ranging from technology startups to fintech, design, healthcare, SMEs, freelancers and international businesses who want to set up centres in India, who are part of the GoodWorks CoWork community. Through the community we hope to not just encourage networking, but also enable collective learning and create avenues for meeting prospective investors, technology experts and thought leaders. The start-ups who join us will be mentored by us and we will help them move to the next level in their start-up journey.

2. How did the founders of GoodWorkLabs put the plan together to invest in coworking?

After successfully establishing GoodWorkLabs as a leading new-age outsourced product development firm (OPD) and UX design studio, the founders – Vishwas Mudagal and Sonia Sharma wanted to use their knowledge to give back to the start-up ecosystem.  GoodWorks CoWork was launched to build a thriving start-up community and provide the best ecosystem for them to succeed.

Also, this year, both, Vishwas and Sonia have decided to become Angel Investors. They will be funding 3 startups who have a real-business idea and potential to grow. An initial investment between 20 lakhs to 1 crore will be made in these startups. Among the many benefits of working in a shared office space, startups will also be provided with thought leadership, mentoring and financial support.

3. Why do you think coworking places are getting traction in prime cities in India?

  • From a real estate perspective: Coworking spaces have become a sharing economy practice for small businesses. It’s much more economically viable to get a coworking space in a prime business location than renting an office space in the same area. Coworking reduces the burden of long lock-in periods and large security deposits that exist in conventional rental transactions. Moreover, the overhead costs of a rented office space is much higher and unpredictable compared to a coworking space.

Lastly, several admin and logistical activities are managed by the cowork team itself and this helps reduce a major burden of running an office space for a startup.

  • From a business value perspective: Coworking encourages networking and collaboration. Coworking spaces provide immediate access to a large network of startups with different skill sets allowing exchange of skills and ideas. Moreover, coworking provides a platform for knowledge sharing through workshops, seminars and events – the best way to get information about latest trends in the market.

At GoodWorks CoWork, we even provide startups mentorship from industry experts who have chalked out the blueprint to success. We provide startups with information related to the latest technologies to invest in for better ROI, better channels to crack business deals, partnership opportunities with larger organizations and avenues to fast forward their road to business success.

4. What’s the most valuable benefit of paying for a coworking space?

As a new entrepreneur, you need to wear multiple hats. The sales guy, the tech guy and the marketing guy, you are constantly juggling between different roles. The most valuable benefit of working out of a coworking space is that it reduces burn-rate and allows investment in core business requirements. Secondly, it reduces the logistical pains of running an office and lastly, it provides the best opportunity for networking.

The objective of GoodWorks CoWork is to help budding entrepreneurs grow their business without the hassles of managing operations and logistics. Through GoodWorks CoWork, we aim at creating a perfect ecosystem for startups and nurture their growth

5. What does GoodWorks CoWork do to facilitate more of networking?

All new members are introduced to the different startups working at our coworking space while joining. We also have a one-on-one session with our mentors where startups get a chance to showcase and discuss their product/service.  Various informal get-togethers are also organized on a regular basis to encourage networking and collaborations.

We have also partnered with various startup groups and organisations who conduct events pertaining to the startup industry. We’ve conducted several workshops on Design Thinking with a group called IForIndya, we’ve had sessions on Artificial Intelligence and Machine Learning by the Disrupt 4.0 team and workshops by Entrepreneur Café on Operations Strategies for startups. We’re also in talks with various other groups to conduct similar events useful for startups. The objective is to encourage knowledge sharing and keep our community updated on the latest trends in this segment.

We’re also in the process of introducing a new mobile app/ platform where all coworkers can interact with each other and stay connected at all times.

6. Given that there are a few other players in the co-working segment, what is it that gives GoodWorks CoWork an edge over competitors? And what will fuel its ambitious growth?

Design-inspired coworking space – We provide creative, design inspired coworking spaces for our coworkers. Every element in the coworking space has been selected after considerable thought. The wall décor, the seating layout, the lighting structures and overall ambience have a creative undertone. We want to encourage creativity and innovative thinking in this space. We also have inspirational posters and graffiti on the walls to keep the community motivated at all times.

The possibility of getting funded: After successfully establishing GoodWorkLabs as a world-leading and award-winning new-age software lab and design studio, the founders are now all set to provide seed investment to upcoming start-ups and extend our Thought Leadership to help businesses grow. We plan to choose upto three promising start-ups annually that have a ‘real’ business / revenue model and growth potential and plan to invest anywhere between Rs. 20 lakhs – Rs. 1 Crore.

Consultation with In-House Experts: We have an in-house team of management consultants to help get the basics in place for your company. Start-ups can book a time with our experts to discuss problems and issues related to HR, Finance, Marketing, Design and Branding faced by the company.

The founders also act as mentors to the startups selected by us and support them through every step of their startup journey.

7. How can a coworking space remain unique in India as more competitors move in?

While other coworking spaces focus on community building and networking, the USP at GoodWorks CoWork is that we focus on the individual startup and do whatever it takes to help them scale up and move to the next level in their startup journey. We do this by providing a combination of mentorship and consultation facilities to help them focus on achieving their business goals.

8. Is GoodWorks CoWork an industry specific coworking place?

GoodWorks CoWork was started to help budding entrepreneurs grow their business without the hassle of sweating about Operations & Support Services. So we’re open to any startup, entrepreneur or small business owners who is passionate about their new venture.  Our space provides all the facilities needed to run a company smoothly without logistical hassles.

9. An open environment of collaboration is a driver for coworking, what are its challenges?

We expect our coworking members to be responsible and mindful of fellow coworkers and provide certain guidelines to maintain a conducive work environment. We have simple rules that we mention while showing the space to potential members – maintain noise levels, avoid inappropriate language and overall be supportive of fellow coworkers. We also have creative posters around the coworking space, restrooms and breakout area to encourage and maintain office hygiene.  Remember, there are other people around you who probably look up to you for inspiration. Co-working means co-operating and collaborating in a comfortable environment and we go out of our way to encourage this among our coworking members.

10. What happens when people do not properly integrate into the community, are not actively engaged or seem to keep to themselves?

We understand that different people have different working styles and prefer not to intrude during working hours. However, we do have introduction sessions and ice-breaking sessions to encourage networking and conversations amongst all coworkers.

11. How do you ensure that sensitive information of companies working here is protected?

All devices at our coworking space are protected through a network security system that provides powerful firewalls, security against malware, spam, Trojans, DoS, DDoS, phishing, pharming and intrusions. The security system also protects against data leakage. Further we have an information protection agreement where everyone is expected to adhere to the data protection steps and rules.

12. What does the future hold for GoodWorks CoWork?

We want to become one of the largest players in the premium coworking and shared office market with a Pan India presence. We will continue to provide creative, design inspired coworking spaces for startups, freelancers and entrepreneurs encouraging the shared economy. We believe that GoodWorks CoWork is not just a workspace. It’s a way of life & a path to success!

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