By Rona Jobe
Starting your own business is a thrilling adventure, but it can be a lonely journey. Leading the charge on tough decisions can feel incredibly isolating, but it also presents an opportunity to lean into your network. Finding a community or people you can trust is paramount to not only your success but the success of your business. Any CEO who says otherwise is lying.
The Loneliness of Being a Leader
It is no surprise to anyone, that running a business means juggling countless decisions, big and small. You have to know when to pass a task off to a team member or when to do it yourself, and it often feels as if you have to handle everything alone. Self-reliance is a skill that is taught from an early age but it is counterproductive in a business setting. You need your community of employees, mentors, advisors, and more to thrive. Every business faces unique challenges, and knowing who and when to call makes all the difference.
So, where do you turn when entrepreneurship gets to be too much? There are many ways to move forward, but these three areas of support will deliver you the most positive returns.
Find a Professional Mentor
Engaging with experienced mentors and advisors who have navigated similar paths can offer more than just advice; they can provide tangible, real-world support. They let you explore unconventional ideas that you hesitate to share with your wider team, and they act as sounding boards when you need to talk through decisions.
Mentorship is not just good for culture; it’s good for business. In fact, many organizations see mentorship as a vital tool for business growth. A recent study by Kabbage, Inc.—a global financial services, technology, and data platform serving small businesses—surveyed more than 200 small businesses and found that “92% of small business owners agree that mentors have a direct impact on the growth and survival of their business.”
Before you go searching for your perfect mentor on LinkedIn, you need to take care of the foundational work: identify your objectives and expectations for the mentorship. What do you hope to gain, learn, or shadow during this mentorship? How committed are you in taking the time to meet consistently – what bandwidth do you have? Write it all out, including your aspirations and the goals you’d like guidance on achieving. No idea is too insignificant; from your smallest musings to your boldest aspirations; list them all. Then you can distill your raw thoughts into a plan to present to mentors-to-be. In approaching potential mentors, remember to be flexible and open to new ideas — including who this mentor might be.
One simple place to start your search for a mentor is by asking for recommendations from peers you respect. Ask for connections to professionals who currently live the vision you have for your business or who have successfully managed similar roadblocks along the way. Remember, networking is a collaborative effort, and embracing vulnerability is key to fostering growth and scalability. Approach potential mentors with sincerity and a willingness to share your full story as you seek guidance for your future endeavors.
Join or Create Peer Networks
The age-old saying, “who you surround yourself with matters” still rings true in business and beyond, and networking with fellow business owners has been a game-changer for me as an entrepreneur. There are many, many types of networking groups out there to help you find people you can trust, and often you have to try on a few before you find the “one.”
Peer Advisory Groups facilitate idea-sharing, problem-solving, and support in a safe environment. These groups also provide you with invaluable networking opportunities and help you stay accountable through regular status reports and updates. This last point is crucial because studies show that having an accountability partner, regardless of the type, can increase your chances of success by over 85 percent.
Referral Networking Groups offer a structured approach to building your network and business simultaneously. These groups prioritize referring business to one another and sharing ideas regularly, providing a more formal environment. However, there are also more passive ways to connect with your community of business owners, like joining your local Chamber of Commerce and participating in online forums related to your industry. Keep in mind there may be costs to join some groups, but when you do the math (which I did with a handy calculator because that’s just how my brain works), you’ll often find that the effort and investment of joining a group will much more than pay for itself.
Hire a Strategic Partner
A third option to find people you can trust is to hire a professional consultant to guide and support you. Their services reflect a growing trend towards seeking external expertise, offering to share the load and provide a fresh, impartial perspective. Many entrepreneurs find that investing in this work upfront eliminates lots of trial and error along the way. In fact, more and more organizations are seeking this external expertise and an objective perspective based on the industry’s growth over the past several years.
Consulting offers a confidential space to explore ideas, develop strategies, and collaborate with a dedicated team that can help bring your vision to life. Companies such as mine (LVL-Up Strategies) offer tailored services or insights on how to expand your network and approach your big-picture goals through quarterly action plans.
Bringing In Trusted People and Supportive Systems
Owning a business is immensely fulfilling and doesn’t have to be isolating, despite the tough decisions and moments of solitude. Better navigate through these complexities by expanding your support system through mentorship, networks, and strategic partnerships, ensuring you have trusted people ready to help tackle challenges and celebrate achievements right along with you.
