I Decided To Pay For An Office

My New Office In A Shared Office Space

I’ve written about my studio condo before, it’s a 350 sq ft space that’s located in just the right area for my needs. It allows me to walk/bike to work and I am close to a grocery store and a library. I have a very simple setup, a large sofa and a bed. I always think long-term… in case I want to rent this place out furnished or in case I want to charge for my “couch” in the future I want to be well situated for that.

350 sqft. in NW Portland.
350 sq ft. in NW Portland.

I was thinking of squeezing a small desk in there but as you can see it’s already crowded. Nor do I want to do any more furniture shopping. My bed cost me $1,000 and I paid nearly $1,100 for the sofa. The bed is local-made by a custom furniture maker and the sofa is made in the US with renewable material.

So instead I decided to give one of these shared office spaces a try. It’s a wonderful business idea… get a large building sectioned off into office spaces and create a large common area for entrepreneurs to interact with each other.

I am paying about $500 per month with a month-to-month contract. Printing and internet is provided. There is a communal kitchen with beer and coffee which is a nice idea. I am not even the only doctor here which is cool. I haven’t met these guys yet but there is a group of 4 docs that consult for a medical company but don’t do any more clinical work.

Having my own office isn’t just so that I can play the part. I am picking up extra phone shifts to generate the extra income and I’ll make those phone calls out of this office space. I tried doing phone shifts from home but it’s really hard for me to get into MD-mode in the comfort of my condo. I view this $500/mo as an investment for my future income. Always invest in yourself. Whether you pay yourself first or you learn a new skill or you invest in something that will help you generate income in the future (books, courses).

I’ll let you guys know how this idea will work out. In the meantime I have a couple of projects I am working on, we’ll see which one can become profitable. I have some decent experience with starting/failing businesses but it never hurts to have more.

My new office at Centrl Office in Portland, Oregon. The common area surrounded by enclosed offices.
My new office at Centrl Office in Portland, Oregon. The common area surrounded by enclosed offices.

 

Are you doing anything to generate extra income? 

Are you learning a skill which you could use for future income potential?

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