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Why Every Entrepreneur Needs a Support Network

StevenF
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The journey of building your own business can be a lonely one. The demands on a new small business owner are significant, and you can easily get mired in the trenches trying to make magic happen on your own.

 

I have one simple message for you: don’t let yourself get stuck in the mud, spinning your wheels. There’s a world of guidance, inspiration, and support out there for you – if you know where to look.

 

A world of resources

 

If you’re feeling lost, young padawan, have no fear. There are resources to turn to at every point in your business journey. Here are a few ways to leverage them:

 

  • If you’re just starting out, that could mean going to the Small Business Administration (SBA)’s website to learn how to get your employee identification number (EIN), or LegalZoom if you want to file the paperwork for your LLC.
  • It could be visiting your local chamber of commerce if you’re planning on opening up a store front. Or, contacting the Women's Business Enterprise National Council(WBENC) for resources to help you establish your woman-owned business.
  • It could mean connecting with industry-specific associations that can give you targeted guidance and access to valuable certifications.
  • It could be reaching out to former business owners who provide guidance to new entrepreneurs through organizations like the SBA’s Small Business Development Centers (SBDCs) or SCORE.
  • It could mean participating in a forum where other business owners share knowledge and advice, and growing your subject matter expertise by reading articles from experts right here on the SAP Business Exchange.

The key is connection, and the right time is now

 

The most important thing is to make connections with other people. Reach out and identify like-minded business owners, customers, mentors, and others who resonate with your objective and can help guide you and amplify your message.

 

In my experience, other entrepreneurs fit this bill wonderfully. They’re collaborative and generous, open to brainstorming and sharing the pitfalls they've experienced in their own businesses. They're the kind of folks who are willing to reach back and lend a hand to new entrepreneurs as they embark on their own journey.

 

When should you look for this kind of supportive community? Ideally, right out of the gate. As soon as you make the decision to build a business, you need to start building a network.

 

And what if you already have an established business? As the Chinese proverb says, “The best time to plant a tree was 20 years ago. The second best time is now.”

Even if you feel too busy working on your own business to find time or energy to seek out a supportive community, know that you’ll incur a significant opportunity cost by not dedicating time to nurturing connections early on. Having a network of other people can provide opportunities for growth and support you may not have been aware of. And if you truly don’t have time for networking, you may need to hire someone to take over part of the business so you can focus your energies on making valuable connections.

 

Create community online and off

 

Of course, there are many opportunities to find your tribe online. The key is to take advantage of digital and in-person opportunities to build community.

 

You may have dozens of digital friends and connections in your industry through LinkedIn or Facebook. But when you actually put your feet on the ground at an industry conference or trade show, you can start putting faces to names and making deeper connections. That real-world interaction is what brings the world of digital connection to life.

 

Remember: people do business with people.

 

Entrepreneurs can get complacent trying to leverage digital tools, building click funnels, and creating Facebook ads, expecting some magic pill to grow their business. But my most interesting conversations and fruitful collaborations have often been the result of attending conferences.

If you're not out there making real-life contacts and building relationships, you’re missing out.

 

Remember to peer out of the trenches

 

The mission of the SAP Business Exchange is to provide a peer-to-peer channel for customers and users of SAP Concur products. Our vision is that the SAP Business Exchange will be part of your daily routine, a place where you can find your tribe and grow your business with the resources on offer.

 

It bears repeating that when it comes to making connections, there’s a cost to doing nothing. So, as you’re putting the sweat equity into your young business, remember to peer out of the trenches and grab the lifelines waiting for you. I hope our community can be one of those lifelines.

 

Finally, here’s a list of resources mentioned in the article, plus a few more you might find useful:

 

Organizations

 

Podcasts

 

About This Author
StevenF
Steve Fielding has deep experience in corporate communications, contributing to global brands, such as Microsoft, Logitech and TIBCO for the past 25 years. He currently works at SAP Concur as a Director of Community Marketing, Content & Strategy, where he applies his broad range of skills related to strategic communications, creative storytelling, and audience development. In his previous role at Microsoft, Steve managed executive communications for the US Small & Midsized Business Vice President, Cindy Bates (via SMB Blog, Twitter, monthly columns in national outlets, etc.). He closely collaborated with key corporate divisions, such as Windows, Office, and Surface, to develop audience engagement opportunities via national campaigns, such as National Entrepreneurship Week and SBA InnovateHER. Whether a unique conference experience, inspirational ebook, interactive whitepaper, digital tool, or a full-blown web series, like Business & Burgers, Steve thrives in a creative and collaborative environment, and loves producing engaging content and experiences which activate an audience to take note and engage with a brand.