Entrepreneurs tend to be solitary creatures.
But sooner or later, every business owner comes to realize that in order to grow, they need to build a support group for their business.
“Your network is your net worth.”
A solid network is made up of diverse people who add to your net worth in different ways.
Here are 5 types of people you need in your network in order to thrive in the business world:
Mentors
It’s not always easy to work ON your business, as opposed to IN your business.
Which is why it is imperative that you surround yourself with mentors who have walked this tightrope before and understand the struggles and hardships that come with being an entrepreneur.
There will always be something new to learn, or some new challenge to overcome. In fact, facing new hurdles is a sign that you are progressing, so don’t shy away from them.
Referral Partners
Referral partners are business owners like you, who are not in competition with you.
In fact, they help you grow your business by referring business your way. They take a keen interest in your product or service, because they see that it can be of use to THEIR clients. And you are in a strong position to return the favor.
For instance, a personal trainer may have a chiropractor, a physiotherapist, a nutritionist, and a massage therapist as his referral partners.
Similarly, a website developer might have a graphic designer, a social media expert, a copywriter, and a branding specialist as her referral partners.
And a real estate agent might have a mortgage broker, a home inspector, a mover, and a real estate lawyer in her referral network.
Cheerleaders
The cheerleaders in your network are your clients. But they are not just ANY clients…
They are your FAVORITE clients.
They are your VIP, gold-encased-in-platinum clients.
These are the clients who love what you do for them and have been loyal to you for years and years. They gladly share their testimonials with anyone who will listen, because they have such strong faith in your product or service.
But they don’t do it as a FAVOR to you. They do it because it actually makes them feel good to be able to share your business with the rest of the world. It makes them feel important and knowledgeable and helpful. Your business makes them look good in the eyes of others.
These people bring you new clients by word-of-mouth, but not just ANY new clients… they bring in IDEAL new clients, who also appreciate and understand you and your business.
Suppliers
The success of your business depends on the quality relationships you build with your suppliers.
When small business owners are starting out, they often have to opt for the suppliers with the most competitive pricing.
If you can help it, you should always value the relationship with your supplier above all else.
For example, there are many online services that can take care of printing your business cards. However, you never get a chance to build a relationship with a faceless, big-box, online printer.
If you were to work with a small business printer in your neighborhood, you may (or may not) be paying a bit more. But you might also benefit from the printer’s expertise and advice, they might do special deliveries or rush jobs for you because you are a loyal customer, and they may refer business to you (printers are in contact with MANY other businesses… they actually make powerful referral partners).
You would not get any of these perks working with an anonymous online printer. Choose your suppliers with care; after all, they help build your business. And you don’t want to miss out on this opportunity to expand your network.
Life Coaches
Business is not ALL about business.
With all the challenges and demands that come with running a business, you will find you have to constantly evolve into the person that your business requires you to be.
You will have to become stronger, both physically and mentally, if you are to constantly take your business to the next level.
You may need professionals to fill this need (personal trainers, psychotherapists, massage therapists) or even just some like-minded, emotionally intelligent friends who can help keep you grounded.
Need a hand with your business brand? Contact Kim Speed at Purple Moon Creative today!
