Create an advisory board for brainstorming and accountability.

As a small business owner, it’s important to surround ourselves with good people.  Good people who know more good people and how to do things.  And that’s why I suggest business owners put together their own advisory board.

It doesn’t have to be a formal board, with paid positions and regular monthly meetings.  But getting a few trusted advisors and colleagues to discuss growth and opportunities is ideal for the small business owner who otherwise tends to out there on island by themselves.  Bringing your tax pro, your attorney, maybe your insurance agent, banker and a few other key people together to brainstorm and bounce ideas off of might be just what you need to prevent a stagnant business.

Ideas and innovation can come from a group of local business experts who bring together experience and knowledge.  These people can help open the door to both clients and strategic alliances.  They can help you find the best resources at the best prices because they have contacts.

Creating this kind of trusted group can help you bring your business to higher profitable status much faster than you can on your own.  They might even be able to find your investors or be so impressed with you’re working on, they may even offer to invest themselves.

If you haven’t done this yet, it’s never too late to set up your own informal advisory board.  If you have, I’d love to hear about your experiences.  Drop a note in the comments below.

Continue Reading

Growing your business means investing in your own growth and development.

It’s important to continue to broaden your horizons and while it’s true that there is tremendous value in the school of hard knocks and doing, there’s also value in learning from others who’ve already made the mistakes you’re about to make. A well-rounded approach contains lessons from each side.

Last week, we talked about local networking and small business resources here in Southern California and the value connecting with other people.  Today’s list of resources is more about helping you stretch yourself and personal growth to help you in your business.

I’ve used all of the resources below to help me take my skills and development to the next level.  Coaching and mastermind groups are an excellent way to get support and accountability to help you achieve your goals.  And using these kinds of resources is not a point of weakness, but a point of strength in knowing that if you surround yourself with people of like skills and aspirations you’ll begin to understand the steps required for success.

There are several ideas listed below to help you think about taking advantage of the resources around you.  Take one or more and use it to push you to the next level.

• Join a Mastermind Group—This is a group of like-minded individuals who come together for growth and support.  Groups typically have a leader
• Open Networking Group—These are groups like your local Chamber of Commerce, Meet-ups, or even LinkedIn groups that meet live or on-line to network and share information.
• Closed Networking Group—A closed networking group means that each profession is represented only once and organizations like Business Network International and Le Tip fit into this category.
• Employ a Business Coach—Using a business coach can certainly help you stretch yourself to meet those outstanding goals and objectives and provide you support, guidance, and accountability along the way.
• Take a professional association course or a college level course—A professional designation or continuing education credits help to keep your mind sharp and keep you abreast of new trends and rules that may be coming up in your industry.
• Webinar—A webinar is a cost-effective way to learn new tools and skills and to do so on a time budget because there’s no travel involved.  It’s harder to network at on-line events like this but it can still be done.
• Professional Association Meeting—Most professional associations hold meetings on a monthly basis that usually include a speaker so there’s an education component along with networking.
• Reading industry related books or magazines—Time and budgets are always a factor when it comes to investing in yourself so reading the latest information on your industry written by the experts helps to keep your skills and education current.
• Attending industry conferences or trade shows—While these events do usually come with a hefty price tag, both monetarily and time-wise, they also can provide significant benefit in understanding new trends and how others are finding success.

I’d love to hear about any other opportunities you might suggest could be added to our list here.  While I like to get out and meet people and find new connections, the time and budget aren’t always there.  You can share your thoughts below in the comments section.

Continue Reading

Use the power in your network.

As small business owners, we frequently tend to have to wear all hats in the business and, sadly, that leaves us with little time to work on our business.  Working on our business means investing in the business to make it better, more effective, more efficient, and that means you too.

Taking the time to enhance your skills and learn from others is an important part of building a strong business.  What you know is important and the network of people you know is just as important for connecting you with the people you need to know.

Today, I attended the Score Women in Business Breakfast series in Costa Mesa.  Score is an amazing small business resource that helps small business owners across the nation.  And in Orange County, we’re really lucky because we have one of the best Score Chapters in the country with volunteers that have experienced success across all walks of business.  Today’s guest speaker offered some excellent lessons in business branding from Liz Goodgold, a branding expert, from San Diego.

And a few weeks ago, I attended a LinkedOC event where author and digital analyst Brian Solis talked about The End of Business as Usual.  LinkedOC has a monthly event that often features prominent authors from the world of small business.

There are a tremendous number of local events to attend, network, and make new contacts.  Here’s a list of local Southern California events and organizations I have found useful over the years:

• Score—Orange County Chapter
• LinkedOC
• National Association of Women Business Owners (NAWBO)
• Orange County Public Relations Society Association (OCPRSA)
• E-Women Network
• Business Network International (BNI)
• Constant Contact Email

You can click on the links above to find more information and check event schedules.  Hope to see you at a local event soon.

Continue Reading