May 20, 2020

Why Developing a Support System Is Important—Especially When You Own a Business

Having a support system when you own a business is crucial for your success in ways you may not even realize.

While emotional support is a given, having a support network is also important financially and for carrying out day-to-day operations. In fact, several entrepreneurs have spoken of how their network of friends and family members have helped them achieve their goals faster.

In addition to this, people are social creatures that thrive in a positive environment. When you’re an entrepreneur, the rigors of the business world can take a toll on you. After all, balancing work and play while striving to be responsible and keep your stress levels in check isn’t easy.

In this article, we’ll talk about why having social support becomes even more crucial when you’re a business owner.

What is a Support Network?

A support system or support network is made up of different kinds of people – not every one of them has to be friends or family. You can also have individuals with whom you share a professional relationship, including your investors, former business partners, suppliers, or employees. Each person in your network is someone you can rely on.

We would urge you to keep this network as diverse as possible to gain more perspective and outlook that you can, in turn, incorporate in your business.

Maintaining peer support can also be essential for cheering and encouraging you. Also, they keep you in check by criticizing and questioning you whenever you go wrong, without holding back.

What are the Advantages of Having a Support System?

As mentioned above, your support network is a dedicated group of people that are always ready to help you, in whichever way that they can.

The other advantage is that you can convey your ideas to them to get more clarity. You can also use it as an indicator to determine whether or not your business idea is worth it. After all, if it fails to capture the attention of the people who are close to you, it probably won’t be interesting for total strangers as well.

How to Develop a Good Support Network?

The following are a few helpful tips that you can use for developing a support network:

  • Start with your current friends and families. Review and evaluate carefully who might actually be helpful and want the best for you.
  • Try joining a book club.
  • Always be open when you need help and don’t be afraid to ask for it. 
  • If you like sports, you can try joining a sports team. This goes for any other hobby that you might have.
  • Take the necessary measures to let people in your life know that you cherish them.
  • Be open to trying out the activities that expose you to different and diverse people. 

How can You Maintain a Support Network?

Heads up: There is no room for ego here.

The only way that you can build a support system that cares for you and is there for you is to listen to them and show them that their opinion matters. Also, you have to understand that you can’t always know what is best even when it comes to running your business. So, don’t lash out at people who are trying to give you advice just because it doesn’t suit you. Instead, keep a positive attitude and think about what you’re been told.

Eventually, they will stop altogether.

Always be open and honest about your thoughts and feelings with your network. This is exactly why not everyone gets to be on your network – it’s only the people that you can trust.

If you want to be supportive of your employees, you can do that as well. Start by listening to their concerns. You’ll be surprised by their capacity to diagnose problems in your business which even you were not aware existed.

Lastly, always show appreciation whenever somebody takes the initiative to help you out. You can either return the favor or simply say thank you to make them feel appreciated for the support.

Concluding Thoughts

As you might have realized, having a good support system is important more so when you have a business to run. You need people to share your successes and failures, advice that can actually help you grow both mentally and psychologically, and companionship to feel a part of something. 

Hence, if you find opportunities where you can grow your support network, never let it go to waste.

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