Some small ventures imagine that all they need to do to be successful is grow from their existing customer base. Somehow, their client numbers will increase and, eventually, they’ll develop into a mature, established firm.
The word “somehow” here is critical. Often, companies just assume that growth will happen as they continue selling. Eventually, they tell themselves “the word will get out” and the business will become successful.
But that’s not how it works in practice for most companies. Instead, growth mainly comes from their connections: who they know. It doesn’t emerge from just waiting or hoping to get more word-of-mouth referrals.
No business, therefore, grows in isolation. It takes an entire network of support to make it happen. Solitude and loneliness are bad strategies for people who want to be entrepreneurs.
So what does it mean to build a team and grow a network to make your company vision a reality? Let’s take a look.
Outsource Services And Tasks You Don’t Understand
Entrepreneurs with a strong sense of self-reliance frequently try to perform all tasks in-house themselves. They design their own websites, do their own marketing, and submit their own accounts.
To them, this strategy seems like a good way to spend their time and preserve money. But all it really does is make them poorer in the long term. That’s because they aren’t specializing in the things that their customers really want. Instead, they’re trying to be masters of all trades.
The trick here is to understand what you can and cannot do. If you have a small manufacturing gig, you probably understand your processes well. But you might benefit from complete on-site & inhouse welding services to fix your equipment. Likewise, if you run an e-commerce store, you might have an excellent understanding of how to market your business, but you might not know the first thing about fulfillment.
Build A Network Of People
No great entrepreneur goes it alone. Instead, they surround themselves with highly competent people, able to do the job well. They collect a team of advisors, mentors, and friends from around the world with different areas of expertise. They then mine these people for their knowledge so that they can avoid making costly business mistakes.
CEOs throughout the world know that they can achieve much greater success when they work with people as a team. Nobody can be a master of everything, so successful leaders always rely on the people around them to give them the knowledge they need to take their enterprise to the next level.
The types of expertise available include:
- Knowledge of target markets and overseas markets
- Understanding of work processes and flows
- Scientific knowledge of how a product works
- Managerial knowledge for how to attract and develop the best people.
Create Social Events
A lot of business leaders spend their time attending various conferences and seminars. The goal of this process is to expose themselves to new knowledge and ideas they hadn’t considered before.
Many business events focus on things like launching new products, managing companies effectively, and rising above the competition. These experiences can be highly beneficial because they open your eyes to a world of possibilities. Suddenly, you can see what you need to do more clearly and you’re not just relying on trial and error.
Build A Social Media Presence
Many businesses are also hopping onto social media to help them build their networks – even small firms with just a few dozen followers.
Why is this?
Simple: customers will regularly provide companies with helpful feedback that they can use to get ahead. Firms love this kind of responsiveness because it provides insights into how people view their brand. They can then use this information to make their products and services more compelling.
Bring The Office Outside
Slogging away at a computer for twelve hours a day in your office is the way that some people build businesses, but it’s not recommended. A far better approach is to get outside, meet new people and change your location every once in a while.
If possible, try hosting a meeting at a coffee shop. Or go for a walk with your colleagues in a nearby park and discuss your plan of action for the day. Physical movement will help focus both you and your team and will hopefully reduce everyone’s reliance on coffee.
Being in a new environment will also spur creativity and idea generation. It’s much easier to think of new things when you are somewhere new, doing something different.