How a Support Network Can Boost Your Business and Well-Being

We are social beings. Throughout our lives, we build networks of people we trust who offer emotional, practical, and social support. You might connect with friends from college to share career advice and life updates, join a neighborhood group for local news and fellowship, or participate in a hobby club like a book group or a running club for encouragement and fresh perspectives.

The same principles apply in business. In fact, successful business owners build strong support networks they can rely on for help and advice. These are the people who will take time out of their day to meet for coffee, share your content on social media, or refer you to a business associate. They cheer you on when you succeed and offer constructive feedback when you ask for it. In fact, an article published by the University of Chicago Booth School of Business found that successful entrepreneurs have, on average, twice as many trusted connections as non-entrepreneurs, highlighting how valuable these relationships can be in overcoming early challenges. These networks thrive on mutual support. In other words, the more you invest in helping others succeed, the more likely they are to support you in return.

Stronger Connection, Stronger You!

Nurturing these relationships is great not only for your business growth but for your health as well. According to the Mayo Clinic, friendships elevate your sense of connection, belonging, and purpose. Friendships can also reduce stress, boost self-confidence, and even help with physical health issues such as high blood pressure. That’s why your support network fits perfectly into the mindset of focusing on personal development as a tool to grow your business.

Ready to build your business support network? You may be further along than you realize. Start looking at your current business connections: colleagues, collaborators, or peers you already trust and enjoy working with. Could any of them be a part of your support network with a little effort? Relationships like these often grow naturally when we take the time to nurture them.

Note: This is not networking or prospecting. Both are important for nurturing a growing a business, but they tend to create more surface-level connections. Your support network may not be large, but these relationships should be deeper, more time-consuming, and far more fulfilling. The key is to surround yourself with a number of trusted people from different backgrounds, experience levels, and industries.

If you’re still working to build your network, consider people in the following categories:

• Family. 

• Current acquaintances. 

• Local networking group members. 

• Former colleagues or coworkers.

• Other business owners in noncompeting industries.

• Mentors you’ve learned from.

• Trusted service providers you’ve worked with in a non-client/vendor capacity.

  
  

I don’t recommend including current customers or suppliers in your core support network. While these relationships can be a source of great joy and professional collaboration, there may be times when you want to speak candidly, and that may not be appropriate with clients and vendors. Think of those relationships as “regular” friendships and don’t include them as part of your business support network.

Once you have your list pulled together, it’s time to start building those relationships. Set up a Zoom call, meet for coffee, or grab lunch together. It may take time, and there might be a few stumbles along the way, but with a little consistency and dedication you’ll build a strong, reliable support network!

One last thing! When you’re building your support network, look for those people who bring more than just encouragement. You want to prioritize relationships that are mutually beneficial, ones in which you’re just as invested in their success as they are in yours. Each person should have the time and willingness to offer support, feedback, and insight. It’s also helpful to include those with different backgrounds, industries, or life stages to give you a fresh perspective you might not otherwise get. And finally, you don’t need dozens of people in your business support network, just a handful of trusted voices who can support, challenge, and inspire you to do great things.

As a business coach and growth strategy consultant, I provide strategic guidance to help you build the right support network so you can move forward with confidence. If you’re

ready to take the next step, let’s connect!

Schedule a complementary intro session