You often hear that it’s not what you know, it’s who you know. When it comes to running your own business, obviously both are important, but with all the tasks you have on your plate, you may find that getting together with other entrepreneurs—who are probably as consumed by their businesses as you are—is something that doesn’t take priority in the course of your busy day.
This is a mistake. Joining a variety of business associations when you’re first starting out can be absolutely invaluable in terms of the contacts you can make, as well as the advice you can get from more experienced entrepreneurs at no charge. The good news is that all kinds of trade and professional organizations are reporting wide increases in membership numbers; it means that businesspeople in all areas are discovering the value of networking. And that is great for you because it means you will have access to that many more experts and mentors who you can call on for advice.
It’s a good idea to join at least two different trade associations when you first start your business: make one an association that specializes in your chosen field, and the other a more general regional or statewide organization, like the Rotary, a local businesswomen’s group, or chamber of commerce. And if one doesn’t exist, then start your own by placing a brief notice in the local paper and setting a time to meet at a local restaurant. It doesn’t take much more effort than that, and you may make some valuable contacts who could help you to grow your business faster than would be possible if you didn’t network.
In addition, as briefly described earlier, many associations produce a regular publication for their members, publish special reports and literature that address particular concerns of business owners in the field, and hold regular meetings and conventions with informative seminars and the chance to network with other members. Many conventions also have trade show areas where you can visit exhibitors who offer their products and services—usually at special show discounts—that can also help your business to grow.
Benefits and Costs
The majority of associations—both general and industry-related—offer members health and life insurance, savings plans, credit card merchant privileges, discounted travel expenses, and many other business services at a discount.
All of this expertise comes at a price: annual memberships can be expensive, as well as meetings and new-member initiation fees, of course, but because they are business-related, they’re fully tax-deductible. And most entrepreneurs report that the fees are worth it because of the benefits, networking opportunities, and new ideas they receive to help them enhance their own businesses.
Do It Yourself
If once you join, you find you’re too busy to keep up with the regular meetings, set up a network of other entrepreneurs in your field for an e-mail round-robin. One person starts by posing a question or problem, then everyone in the round- robin chimes in to offer their take on the subject. You can even find an Internet mailing list on your subject and exchange ideas and provide leads to other people who share an interest in your business even though they may live thousands of miles away. Some prefer networking this way because of the lack of direct competition, and many entrepreneurs on active industry e-mail mailing lists report that other list members will frequently pass along leads and jobs to others when they are unable to take them on.
In any case, there are as many different solutions to a sticky business problem as there are people who are tackling that particular problem. Be open and direct with the people in your networking community; not only will you be able to hear some surprising and effective ideas that worked for them, but you may also be able to give them some advice. And that’s when you know you’re ‘really a successful entrepreneur: when another business owner looks to you for advice. It will happen, and when it does, it’s a great feeling.
