12 Jul The importance of having a business circle
As a business owner, you cannot underestimate the importance of having a business circle. By that I mean an intimate group of small business owners in the same situation and on the same journey who you regularly connect with. This business inner circle might also be called a brains trust, accountability group or small business club. Whatever the label, being together talking openly about your businesses, giving and receiving advice, and sharing experiences is proven to be beneficial and uplifting.
It’s kind of like a mother’s group. Being a first time-mum, is new, exciting and extremely daunting. It can also be isolating. Maternal health specialists know it’s beneficial to place new parents in small groups to give and receive support. They provide a safe space where issues, experiences and ideas can be shared. Where connections are made and isolation minimised. A business circle is valuable in just the same way.
Connection and community
A business circle provides a small community of ongoing support. As well as an opportunity to connect and socialise, which is particularly important for solopreneurs and microbusinesses. The mental and emotional support can keep you sane! A business group provides a space where you can let off steam with others who understand what you’re going through. Being connected to a group can help you maintain your energy and vitality to drive your business forward.
Group connection can also have personal benefits such as increased self-awareness. Your skills and expertise take form when you share your competencies and experience. Doing so can help you realise what your strengths are and the areas you would like to improve on.
Quality advice
In a business circle you can help each other with ideas, to take advantage of opportunities, or devise solutions to challenges and issues being faced. It can be beneficial to get different ideas and perspectives. You can obtain different viewpoints, gather ideas and build on each other’s suggestions. People in different industries and with different experience can offer helpful insights, adding to your capacity to improve your business and innovate.
Taking advice from people you don’t know and who don’t know your business, such as in Facebook groups or similar, is not quality advice you can get from having your own brains trust.
Accountability
One of the biggest benefits of a small business group is accountability. By planning actions to undertake and committing to them in your group, it’s more likely you’ll get them done and keep your business moving forward. You will be committed to working ‘on’ your business as well as in it. Being in a group increases your motivation, productivity and thus achieving your goals. By meeting regularly you build and sustain momentum, with ongoing support and impetus.
Vulnerability and authenticity
A business circle should be a safe, non-competitive environment based on asking and giving. It takes a high level of vulnerability to share your challenges, and even your wins, and be open to receiving feedback and input, and being celebrated. However, with a level of vulnerability the rewards are great.
Your self-imposed limitations can be challenged and blind spots uncovered. Together you can push each other to make breakthroughs.
By developing a trusting relationship with other business owners who ‘get’ us, we are more able to be our authentic selves. And by being authentic and honest we gain more for ourselves and for our businesses.
At Beyond Business Groups we understand the importance of authenticity and vulnerability. This is part of the reason you get to choose your own people. And why we encourage meeting face-to-face if possible.
Beyond Business Groups
At Beyond Business Groups we combine guided learning with regular small group connection. The groups run like a book group, but instead of books each month there are modules. The modules contain information, activities and tools designed to help you work on each aspect of your business over the course of a year.
You choose the small business peers in your group so you can surround yourself with the right people. They could be friends also in business, adjacent businesses, or people you’ve met at networking events or in online groups. We suggest an ideal group size is 3–6 people. We believe our model provides the best of learning, action and connection to help small business owners achieve success.
In a nutshell
We strongly encourage small business owners to regularly connect with others who are in the same situation and on the same journey, whatever form it takes. The importance of having a business circle is that you can achieve more together. With a group you can help each other soar.
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