In the ever-evolving landscape of business, one of the most overlooked yet critical elements of success is the strength of your support network. Whether you’re a startup entrepreneur or an experienced business owner, the connections you build can be the difference between stagnation and growth.
Boost business adviser Amir Shafiq, who is part of the Boost Growth Catalyst team, outlines how a well-connected network can assist you in navigating the many challenges of running a business.
A robust support network isn’t just about having people to turn to in times of crisis; it’s about creating meaningful relationships that can provide ongoing guidance, resources, and opportunities.
Engaging with mentors, industry peers, and advisers can provide insights that you may not have considered. For example, if you’re facing a problem with deciding where your new office should be, a mentor with experience in property management can help you assess whether a location will meet your long-term needs.
Your peers may have recently gone through a similar process and can offer valuable advice on what to watch out for. This collaborative approach will help to ensure you make a well-informed decision.
A well-connected network can assist you in navigating the many challenges of running a business.
Here are just a few examples:
Let me share a story about a small business owner, who was looking to expand her café. She had found what she believed to be the perfect location – spacious, in a bustling area, and within her budget. However, before signing the lease, she consulted her mentor, an experienced entrepreneur in the food industry.
Her mentor pointed out several red flags: the space, while large, was in an area with limited parking, which could deter customers. Additionally, the rent, though affordable now, was set to increase significantly in the next two years.
Armed with this insight, she decided to look for other options and eventually found a location that was not only more accessible but also offered a more favourable long-term lease. Her mentor’s guidance saved her from a decision that could have hindered her growth.
If you’re convinced of the importance of a support network but aren’t sure where to start, here are some actionable steps:
In today’s competitive business environment, having a strong support network is not just a luxury; it’s a necessity. The decisions you make, from choosing a commercial premises to expanding your product line, are all influenced by the insights and guidance of those around you.
By building and nurturing a network of mentors, peers, and advisers, you equip yourself with the tools needed to navigate challenges and seize opportunities, driving your business toward sustained growth.
So, invest time in building your support network – it’s one of the most valuable assets your business can have.
See also our Boost Growth Catalyst article: Don't be afraid to ask for help
About the author
Amir has 20 years’ experience working in business advisory and project management roles across Lancashire and the North West.
His areas of specialism include strategic business planning, leadership development, project management, and fostering innovation-led growth. Amir particularly specialises in guiding businesses through growth phases, navigating challenges, and optimising operations for long-term sustainability and success.
What Amir enjoys most about helping businesses in Lancashire is witnessing their transformation and growth. It's fulfilling to contribute to their success stories by overcoming challenges, implementing strategies, and seeing tangible results that positively impact the local economy and communities.
If you’re looking to grow, scale or start your business, use Boost; Lancashire’s Business Growth Hub. We offer a range of funded business support services. Call our Business Support Helpdesk on 0800 488 0057 to find out more or complete our enquiry form.
The website uses cookies.
Some are used for statistical purposes and others are set up by third party services. By clicking 'Accept all & close', you accept the use of cookies. For more information on how we use and manage cookies, please read our Cookie Policy.
