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  • Eric Choronzy

The Power of Community for Entrepreneurs



The challenges that come with owning a small business are not in any way small. You are often going about managing your business, and you rarely ever find time to ease back and think strategically about long-term business goals. And this gives you less time to sharpen some skills or stay updated on new business trends, best practices, or strategy. A vital way to get back on track and find inspiration is by joining a community of like minded individuals sharing similar challenges, successes, and experiences.


The power of #community is becoming increasingly front and center in a time where it feels like the only thing we’ve been certain about, is uncertainty. For us entrepreneurs, we’ve been forced to think outside of the box, look for new, creative solutions, and become extremely versatile in what seems like a new way of doing business post pandemic.


Belonging to a community has tremendous benefits, from sharing ideas with people of like minds but also those who have gone a step or two ahead of you. This immersive support network among peers can aid in business growth and development in today's ever-changing commercial ecosystem.


Our belief at Franchise Common is that we’re “better together”, and that we only know what we know. Without new perspectives and exposure, we limit ourselves to “what could be”. Let’s look at some specific benefits of community for small business owners.



Learning from the trials and tribulations of others

Entrepreneurs and small business owners probably experience more failures than anyone else. But they are hardly ever deterred by these short-term drawbacks and are in a tireless chase for success. And these entrepreneurs typically like discussing their failures and success after finding solutions. If you pay attention to such people in your community, you get to see some of the things they've faced and what steps they later took to overturn the situation. Being aware can help you learn from or avoid mistakes, while also helping others get through these challenges based on prior experiences.


Being in a community fosters inspiration and encouragement

I've mentioned this at the beginning, but I feel it deserves some focus. Business owners hardly come up for air. You’re tirelessly working to improve your business and continue to build a better operation that provides for your customers. Belonging to a community of similar individuals thus gives you that desired access to opinions and strategies that matter to your specific enterprise. You can get updated on new technologies, processes, strategies, and ways of streamlining your business operations. By seeing others who have gone ahead of you, you'd also be encouraged to learn more and improve your skill.


Collaboration

Collaboration is typically a key ingredient to any sort of recipe for success. Whether that’s with peers within your organization, mentors, or outside support, a community builds that sense of belonging and provides an open source to knowledge, information, ideas, and support. What used to come from expensive consultants or “experts”, now happens through peer-to-peer learning, support, and dialogue. We’re all consultants in our own way. Drop us in an environment together, and we now have access to a knowledge hub of bright ideas from other amazing leaders.


Improves your state of mind and general wellbeing

The management challenges you face daily as a small business owner can cause you to work around the clock, leaving you stressed out, and likely a feeling of defeat at times. This, according to plenty of research, is a major obstacle to growth. It impedes motivation and inspiration, and prevents you from moving the needle. But reaching out to others can significantly alleviate this challenge. In an online community of small business owners, you get to seek support, air your frustration in a productive setting, and get encouraging feedback from others who probably are or have been where you are now. The homely virtual environment creates ease and relaxation. And notably, research shows that social connection can slow down cognitive decline, anxiety, and depression. Be human, be kind, and the rest will fall into place. We’re wired to empathize, and to support one another. We just need a platform to do so.


Bottom Line

Social connection is pivotal for humans to thrive in this ever-changing and increasingly remote world. And although you're an entrepreneur, you're still human. It's therefore crucial for small business owners to get away from the never-ending struggles of their enterprise once in a while and connect with the world around them. A community can help you sharpen your business skills, avoid mistakes, get networked to more business opportunities, and maintain your sanity.


Help yourself and your business by joining our private social community of franchise owners today. Ask, Learn, Develop, and Win. Together!


Join now.



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