Business

The support network that growing entrepreneurs need to succeed


We are by nature social creatures, and this is no different in the business world, where the ability to connect and collaborate, or foster positive professional relationships is directly related. to success and longevity.

However, the life of an entrepreneur, especially in the early stages of founding and growing their company, is often marked by long hours of grueling work and making important decisions alone. While being your own boss is one of the main attractions of being an entrepreneur, it’s also an inherently risky endeavor that can leave you with a lot of responsibility.

As John Donne famously said, “No man is an island, and we tend to do worse by isolating ourselves from others. In a business context, surrounding yourself with the right and influential people as you grow your business and grow as an entrepreneur can help reduce this isolation and keep you focused and motivated, which in turn can propel you on your own success journey.

Mentoring and Coaching

Being an entrepreneur requires incredible motivation and dedication, especially in the early stages when most of your time is spent on the operational aspects of running your business. . Therefore, finding a mentor who has been through and overcome similar challenges can be an invaluable source of support.

The Department of Business, Innovation and Skills found that 94% of SMEs using external support have seen benefits including increased ambitions and higher turnover rates, while 71% of Fortune 500 companies use mentoring program.

A mentor can provide insight into the strategic aspects of your business, make it easier to identify weaknesses that you yourself might overlook, and allow you to benefit from their own circle of influence. Most importantly, having a mentor can help ease the isolation many entrepreneurs face, guiding you through tough times with the benefit of their own experience.

Similarly, investing in a coach to improve certain skills can help relieve the pressure of feeling that as a business owner you have to be an expert in everything. Developing your skills both personally and professionally with coaching can put you in a better position to steer your growing business in the right direction, while avoiding becoming overwhelmed and exhausted.

The mastermind group and responsible partner

Groupism is essentially a group of like-minded business owners and entrepreneurs who regularly gather to share and discuss issues, challenges and successes, with the aim of supporting each other’s growth. careers through practical ideas and solutions.

While being an entrepreneur is ultimately a personal endeavor, being part of such a group can restore the feeling of being part of a team. Surrounding yourself with people on your same trajectory can help keep your motivation and enthusiasm from stagnating, which can lead to a slowdown in your personal growth along with your personal growth. company development.

Connecting with other entrepreneurs benefits your personal growth, your business, and is an invaluable way to learn from others and make meaningful business connections throughout. way.

On a smaller scale, having an accountability partner where both of you work together to hold your projects and goals accountable is another great way to make sure you stay on track. direction and continue to make progress. Having the input of someone willing to tell you things you might not want to hear, while challenging you to keep improving and moving forward can serve as an additional motivator from both personal and business perspectives.

The importance of family

ONE 2016 report from Bank of America on small business owners found that 57% of 1000 respondents said they rely on family members for emotional support, while 35% said family and friends help them a lot. best in running the business.

Family can provide financial support during the critical initial stages of starting a business when funding is often severely limited and funding is difficult to secure from financial institutions that may be reluctant to invest. invest in a new joint venture with no proven record.

However, it tends to be the emotional support that family provides that really makes a difference for entrepreneurs. It is important to have a support system not only at work but also at home. During times of pressure, families can provide a much-needed respite from the daily stresses of running a growing business, whether it’s through lending a sympathetic ear, or just simply provide the encouragement and understanding you need to keep going when you may feel thrown in the towel and give up.


Rob Stone

Rob is a driven and determined entrepreneur whose rich-to-riches story has seen him build and grow the Instaloft brand from a small startup to an empire. £14m in revenue in just 7 years. With invaluable expertise in business development strategy and people management, Rob is now on a mission to double the company’s revenue to £30 million within the next three years, while also take the time to ‘give back’ to the business community by helping aspiring entrepreneurs journey to their own success.





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