We have all heard the saying, “birds of a feather flock together.” There is no greater truth in the small business community. The journey of owning and operating a small business, especially after a global pandemic, is one that can only be understood through firsthand experience. The opportunity to share ideas, hear success stories, and learn from peers is invaluable. Even if you are established, there should never come a time where learning and accountability end. I launched SMG Business Services in 2014, and I am still learning as my business grows and evolves. Most recently, I attended Mike Michalowicz’s Profit First Mastermind Workshop in San Diego. The event opened my eyes to new ways to maximize profits, which we can all benefit from learning more about. Here are five reasons every small business owner should look for support groups, either in-person or virtually:
Accountability: The probability of completing your goals depends on whether you have committed to them or not. Your support group can act as an extra pair of eyes and ears to help set expectations, measure progress, and provide feedback.
Financial management: Over 80% of small businesses fail because of cash flow mismanagement. A support group can help you avoid financial fragility (which is more important than ever after COVID) with priceless tips and insights.
Networking: As you gain helpful business resources, you’ll also be introducing yourself and your brand through networking. The people in your support group might not be leads, but they are likely to recommend you within their inner circles in which they are trusted to score you more business.
Public speaking: Support groups are key for flexing your public speaking muscles. In fact, there are groups dedicated specifically to helping small business owners improve their public speaking skills.
Social connections: As mentioned, not many people understand life as a small business owner. Support groups are great for learning as well as making friends. A Facebook group is a great place to start.
Whether you have been operating your small business for days or decades, many of the challenges remain the same. Please don’t hesitate to reach out to me as a resource, I’m happy to help support you any way I can. That’s what it’s all about in the small business community!
Silvia and the SMG Business Services Team