You know that proverb – ‘it takes a village to raise a child…’ well, it applies to your business too. That’s right, when it comes to starting a business, it’s good – in fact, it’s crucial to have a community behind you.
You don’t have to do everything alone
Entrepreneurs often think they need to do everything themself to be successful. We’ll let you into a little secret – you don’t.
Teamwork really does make the dream work, and outsourcing, delegating or simply getting a little advice doesn’t make you any less successful; it makes you smart. You’re not getting bogged down trying to figure everything out yourself. You’re not wasting time on business tasks you hate doing. You’re not risking your mental health with burnout. As we said before, it’s smart!
Learn from others
Something we recommend to all new business owners is networking. We imagine some of you will be pulling a face right now with a look of uncertainty but hear us out.
Networking is trial and error – you won’t necessarily find the right group the first time. Stick it out and try different groups until you find your people – the business community you gel with. Trust us; it’ll be worth it!
Start-up owners can benefit from networking in many ways. Firstly, it’s an opportunity for guidance and support from more experienced business owners with a few years under their belts. From them, you can pick up handy tips and best practices to imitate and apply to your own business. Of course, running a business isn’t always plain sailing, and we imagine many business owners will be happy to share their pitfalls too. Learn from others’ mistakes and use what you learn from your networking groups to help you prepare for as many eventualities as possible.
Build valuable connections
Business networking groups are fantastic for building professional relationships. Not only will you have the opportunity to learn from others and share your own experience starting a business, but you can also use your group to find potential customers. For instance, you might be starting up a social media management business. Sandra, the owner of a local beauty salon who attends your networking group, is looking for help promoting her services online to more clients. Voila! That’s a potential customer right there. Introduce yourself, engage in conversation and don’t forget to have a business card to hand.
Networking is also great for finding people with the skills you need to succeed in your business. For example, you might be wildly creative but boggled by accounts. Who knows? You might meet a bookkeeper or accountant at your networking group whom you can outsource to (or, of course, you can always come and chat with us at Kale Accountancy!) There may even be an opportunity to swap skills and services.
Remember, all of the people you meet at networking groups are either potential customers or know someone who might be. Build strong professional relationships and benefit from word-of-mouth recommendations, which cost nothing but your time but could be hugely valuable to your new start-up.
Get emotional support
Now we’ve tackled how you can benefit from learning from others and building connections at networking groups. It’s time to move on to something a little more personal – emotional support.
Starting a business is challenging. Yes, it’s exciting, especially if it’s been your lifelong dream, but there’s no denying it takes up a lot of time and energy, and if you’re not careful, it can take its toll on your well-being. This is why your friends and family are vital to your business community. Lean on them when it’s difficult. Rant when you’ve had a bad day. Ask them for a hand if you’ve taken on too much. Those closest to you will want to see you succeed, and part of that will be picking you up during the lows as well as celebrating your highs.
Finding a work/life balance is crucial, and you need to instil it from the beginning. Take time for yourself, your family and your friends. You likely started your business for a little more freedom. Make sure you’re getting it.
Grow your business with professional support
A business coach or mentor is one of the best investments start-up owners can make. By investing in their knowledge, guidance and support, you’re essentially investing in yourself.
Find a business coach or mentor you connect with, and you’ll experience a wealth of benefits, from dedicated advice to emotional support. They’ll help you determine where you want to go with your business, strategise how you’ll get there and be your biggest business cheerleader along the way.
One of the great things about having a business coach is that while they want your business to succeed, they’re not as close to it as you are. They can offer an ‘outside’ or ‘neutral’ perspective, which may help you avoid costly pitfalls.
Growing your business might also involve hiring employees and setting up PAYE or outsourcing. Here, you will likely benefit from a Hybrid Accountant[a] with HR knowledge – and that’s exactly who you’ll find here at Kale Accountancy. We can advise you on the ins and outs of PAYE, talk through the benefits and legal aspects of employing staff vs freelance contractors and help you make the best decision for your business, all while taking care of your business accounts.
Moreover, as Hybrid Accountants, we’re all about regular communication. You won’t just hear from us at tax time. We’re happy to provide as much support as you require to take your business from start-up to success. Are you interested in finding out more?
Book a free consultation at your convenience.
Unlock the power of your start-up community
It might sound obvious, but the best way to feel less alone as a new business owner is to surround yourself with people:
- A networking group for learning and connection
- Your loved ones for emotional support
- A business mentor and hybrid accountant for all-round guidance, support & professional nurturing
The more people you have in your corner, the more likely you will succeed. So, start unlocking the power of your business community and enjoy all of the amazing value it brings.
