Small businesses with a support system tend to do better than those who don’t. So what is a good support system? A strong small business support system consists of small business owners who work together toward a common goal and support one another. It’s a win-win situation and can be of great help to entrepreneurs, especially those who are new to the game.
Read on for more information on how to work together effectively with other small business owners.
- Promote Each Other
If you and another small business owner are not competitors, why not promote one another? This works best if your products or services are complementary in some way. For example, if your business sells kitchenware and cooking utensils, you can partner with a local produce store and promote each other’s goods. This is a great way to get your name out there and make an entrepreneurial friend in the process.
- Launch an Event
Launching an event with other small business owners is a great way to solidify a support system and professional relationships. This event can be anything from a fundraising event to a panel discussion group. Events are a great way to promote your business and get your name out there, and doing it together with other business owners increases the scope and relevance of the event. It’s a win for all who attend.
- Lend a Hand
There may be times when a fellow entrepreneur needs help navigating a complicated scenario at work. A fellow business owner may come to you seeking a referral or reference of some kind. If you are able, take the time to lend a helping hand. It’s the right thing to do, and also, you never know when you may need a favor in return. Doing good deeds creates good karma and also helps to solidify your mutual support.
- Support Other Small Businesses
What we mean by “support” is to actually be a customer to the small businesses in your network. This shows genuine support, and it’s what you would hope others would do for you as well. The next time you need a business lunch catered, seek out your small business owner friend who owns a restaurant. When you need a new suit or dress for an event, visit your small business owner friend who has a retail boutique.
Creating a support system for small business owners who help each other and grow together does take time. But the time and effort you put into developing these relationships and building that network will pay off in no time.
For more information about what it takes to be successful as a small business owner, visit www.biz2credit.com.