Let me give it to you straight: the world is full of people with great ideas but poor execution. This is why about 20% of businesses fail in their first year and only 50% remain open five years later.

If you want to stand the test of time, you’ve got to have more than an idea.

One key ingredient that’s been a tremendous help in my own entrepreneurial journey is always having a community of like-minded people I could rely on for thought-partnership, venting, and knowledge sharing. Having this group of entrepreneurs removes the feeling of alienation that many business owners feel.

If you want to see real growth in yourself and your business, you need to connect with a group. Keep reading to find out why support is paramount to the growth of your business.

Guidance and Expertise
Seasoned entrepreneurs or mentors in a community can offer invaluable advice based on their experiences. This guidance can help new entrepreneurs avoid common pitfalls and make informed decisions. And the guidance doesn’t just come from veteran entrepreneurs. You can learn so much from the questions and conversations you have with other educators who are just starting their entrepreneurial journey.
Motivation and Encouragement
Starting a business can be daunting and isolating. Accountability partners and a supportive community provide motivation and encouragement, especially during challenging times, helping you stay focused and resilient. You find comfort in knowing there’s always someone you can talk to who understands what you’re going through and what you’re trying to accomplish.
Networking Opportunities
Communities often present networking opportunities, allowing you to connect with potential partners, clients, or mentors. These connections can lead to new business opportunities and collaborations. You will be amazed at how one conversation has the potential to be the breakthrough you’ve been needing in your business. That is the power of having people in your corner to support you.
Feedback and Constructive Criticism
Having a group of peers or mentors to provide honest feedback is crucial. They can offer constructive criticism on business ideas, strategies, or products, which is essential for growth and improvement.
Resource Sharing
Communities often share resources, such as tools, knowledge, or contacts. Access to these resources can be a game-changer for you when you’re just starting out and can significantly reduce the learning curve and operational costs. Yes, being connected to the right people can actually save you a lot of money in the long run.
Accountability for Goals
Accountability partners help you set realistic goals and stay on track to achieve them. Regular check-ins ensure progress and can help in adjusting strategies when necessary.
Emotional Support
Entrepreneurship is an emotional journey. A supportive community understands the unique challenges and can offer empathy and emotional support, which is often as important as practical business advice. On days when I feel stuck on a problem, just having someone to talk to who gets it and I don’t have to explain why I don’t want to just go get a “regular” job is enough comfort for me to keep going to the next task. Having the emotional support is what will help you complete all the tactical action items.
Diverse Perspectives
Being part of a community exposes an entrepreneur to diverse viewpoints and ideas. This diversity can spark creativity and innovation, leading to more robust business strategies and solutions.
Collaboration and Partnership Opportunities
Within communities, there are often chances to collaborate on projects or form partnerships, which can lead to business growth and expansion into new markets or exposure to new potential customers.
Staying Informed
Communities, especially those with a mix of new and experienced entrepreneurs, are often abreast of the latest trends, tools, and changes in the business world. This can help new entrepreneurs stay informed and adapt to changes more rapidly.

Having a support system increases your ability to take on new business challenges, opens doors to new opportunities, and expands the possibilities of what your business can become because you expand your creative flow when you’re in community with others.

If you’re an educator interested in starting your own business but you don’t want to do it alone, click here to learn more about joining our membership community.