Tap Your Personal Network to Move Your Business Forward

We can’t do it alone. We never could. Although it is interesting to think that the average American has this inherent independence. It is part of our culture. However, it is a rare thing for someone to be able to move their business forward without the assistance of others. Maybe it’s the support of a spouse. Maybe it’s some friends providing you with advice. Maybe it is something else entirely. It doesn’t matter. The fact is that one of the most valuable tools we have in our toolbox for building our business is our own personal network.

The problem is that many people view their network as a means to find other clients and generate revenue directly. If you put your ego on the shelf from time to time you might realize that there are people around you that can provide good, solid advice that will help move your business forward. The time to do this doesn’t really matter. If you’re just starting out it is a good time because you may get the benefit of the experience of others. If you’ve been in business for a few years it is a good time because you may get some fresh ideas. There are a number of ways to seek assistance from your network. Here are just a few:

Launch an advisory board – An advisory board is what it is; a loose association of people who can and will provide advice for the purpose of moving a business forward. It is important to stack your board with people that bring specific skills to the table and not just friends. It is also important that you bring specific challenges to the board for them to help resolve and that you take some of that advice. Not following through on the advice of your board will make them feel that they are wasting their time working with you, and that is a bad thing. Make sure the advisory board’s role is well defined and that they work with you to solve specific business challenges.

Bring specific issues to outside experts and ask for advice – There is nothing more powerful than the ego. Feeding someone’s ego by asking them for specific advice and counsel will make them want to go above and beyond to help you because their ability to help once they’ve been challenged is the best way to validate the image of them that you have presented – that of an expert. You can do this by inviting someone to a casual coffee or lunch to request feedback or guidance on a specific subject (pick up the check). It is important to be specific with your questions or request. You don’t want to waste anyone’s time and you may have only an hour or so to get the advice you seek. You’ll be surprised who will meet with you. When I was first starting out I was able to get established CEO’s to buy me coffee and provide advice simply by sending emails and asking for it. Many of these contacts have come in handy later simply by staying in touch. As my business has grown, these people have formed the basis of a peer network which I can tap from time to time.

Identify people that you know who can serve as delivery partners and share the growth – No matter how complete you believe your offering is, there are people who offer something so complementary that your combined efforts will help grow both businesses. At the very least, working with an outside company can increase both of your deal flows. Create a list of the people that you trust (not just people that you know) and take a long and hard look at their business. How can your business compliment theirs and vice versa. Be creative. This kind of loose partnership can serve to increase deal flow and potentially open up a previously untapped market for both of you. In many cases, just the act of brainstorming with someone can bring fresh ideas to bear and invigorate an otherwise flat business cycle.

In the end we all have to do what we can to keep things moving. Sometimes we get caught up in the details of running our business and we need a jolt to get things moving again. Tapping your network in an intelligent manner can provide the boost your business needs. Be open and check your ego at the door. This doesn’t work if you challenge your network by always explaining why you can’t do what they suggest. These people are trying to provide meaningful advice, take it for what it is worth, but appreciate the help that you do receive. Many times the conversation itself is enough to help you work through a business challenge.