The rise of co-living entrepreneur communities cannot be disputed just as its key benefits cannot be devalued. Here’s why this type of living arrangement makes sense for budding business persons.
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Overview
Whether it’s a Singapore coliving hub the likes of lyf Funan Singapore or any similar dwelling, there’s something about living with other entrepreneurs that makes growth a more communal endeavour.
A Sense of Community
Being an entrepreneur that’s new to the business world can be a challenging experience without a sense of community. While most small business owners do it alone and struggle through those first few years, co-living entrepreneur communities have eliminated this lone wolf mentality and brought the benefits of being surrounded by other entrepreneurs home for those who are setting up start-up companies.
An Ever-available Support Network
While there are countless programmes to help entrepreneurs make those first crucial moves towards running a successful business, there’s nothing like cohabiting with a group of equally motivated and creative individuals when one needs practical advice. Every entrepreneur needs a support network and for most of these networks consist of those who they went to business school with or classmates from college; however, distance and diverse priorities may make these support systems less effective and less accessible.
Meeting Challenges Head-On
Running into problems and other hiccups are part of every entrepreneur’s journey but these bumps on the road to success are easier to handle when a community of like-minded entrepreneurs happen to be your housemates. Brainstorming ideas and coming up with solutions becomes less of a chore when your community is there to pick up the pieces. This is especially true when it comes to dealing with fear and uncertainty.