Biz Support Groups Gaining Popularity

By: ALYSSA PENMAN

For most small business owners, it feels great to be the one in charge - until they realize that they are the only one around to do -Everything!The flip side of the independence of owning a local shop or company is the pressure of being solely responsible for the success or failure of your business. Most owners thrive on the challenge. But does that mean you have to go it alone? Not at all! The idea of support groups, peer-advisory groups, mastermind groups, business coaches and business mentors has been around for a long one,and in the age of the Internet, is growing rapidly. In a recent, casual online poll, small business owners were asked if they participated in any kind of business support group, or if they prefer to be a ‘lone wolf.’ Seventy percent of respondents said yes, they have some kind of group for support. There are several different kinds of support available, meeting different kinds of needs. If you have been feeling stuck, overwhelmed, or like youare doing a lot, but not accomplishing much, one of these might be for you. Here is a short run down. Peer-advisory groups: There are formal groups that connect you with other business owners. Vistage Connect is one such group that has started an online platform to provide a similar experience to its in-person groups. Peer-advisory groups are structured, with time for each business owner to present a challenge, group members advise, and goals are set. Accountability is presumably part of the group’s success. Some groups are called Masterminds, originating from Napoleon Hill, author of, ‘Think and Grow Rich’. As with other forms of peer-advisory groups, a goal is set and members work together to suggest options and hold one another accountable. Specialty support groups: Not surprisingly, there are a number of national groups that address the specific needs of minorities including women, veterans or disabled owners in business. Groups that have dealt with the same issues you’re facing can provide invaluable advice, and an understanding ear that you might not find elsewhere. To participate in the support of these groups, you may have to turn to online options, but you could also start a meet up in your area – you will probably find that you’re not alone. Business mentoring and coaching: Perhaps you are looking for the advice of an individual who has a proven track record and can devotetime to your situation. Business coaches can be found through SCORE and other organizations. There are also many wonderful professional coaches who are akin to a personal trainer who works out your business instead of your body. Family and Friends: At the end of the day, hopefully you have a family or group of friends that support you. Running a small business takes a significant amount of work. Having people that understand how much of yourself you put into making it work every day is invaluable. It can be important, though, to just let yourself be you when you are with them. Not the boss. Not the sales guy. Not stressed out about pricing and marketing and inventory.

10 Tips to Make Support Groups Work1. Find people you can trust. Listen to your gut. Without honesty, the group will not be effective. 2. Don’t get in bed with the competition. Each small group should be non-competitive, either because of market or industry. 3. Schedule it when it works. Be realistic about how much time you can commit and what time of day or the week will work.4. Be heard. This is not the time to be shy. Be prepared to share and commit to goals.5. Tell on yourself. No one is there to judge you. If you made a mistake, or need advice, be honest.6. Make it measurable. Keep your goals SMART (Specific, Measurable, Attainable, Realistic, Time-bound.)7. Stay Accountable. Be willing to be asked why you still have not accomplished that goal that you set.8. Know when to shut up. Don’t be the one who monopolizes the conversation!9. Try to make it work. Commit to doing everything you can to make the group successful.10. But know when to bail. If you’ve tried and it isn’t working, value your business enough to cut ties and move on (in a professional manner.)

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