When you’re a small business operator, having a few like minded people at hand you can talk to has a couple of advantages:
- It provides a support network, especially when business is tough.
- It can result in referrals from other businesses to you.
- It’s a great source of information about what’s new.
I’m not just talking about typical networking events here (though they do have their place). I’m taking about building a genuine support network. Talking to others with similar sized business ventures can give you a little break from the stress of running your own business. It can re-energize you and make you feel less alone.
Taking the time to get to know other small business operators in your local community can have significant benefits for your turnover too. If you and your business are well known, the chances are your name will come up when anyone locally is looking for the product or service you offer. Word of mouth advertising is absolutely free.
Interacting with other business owners – even if their businesses are completely different from yours – is also a fabulous source of information. Knowing the local gossip never hurts. You might just stumble across a new opportunity, learn about some well positioned store/office space coming up in the future, and find out what your competitors are doing, or even learn some new marketing methods you could apply to your business.
Sometimes we are so busy in our own business that we don’t invest the time in developing those important relationships with other small business owners (I know, I am often guilty of this). From an emotional standpoint, I think it is vital to chat once in a while with like-minded people who relate to your current situation and challenges (this is especially true if your family just doesn’t ‘get it’).
Do you have associates you can call on when you are ready to throw in the towel, have a breakdown or just need to vent?
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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