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Owning a business can sometimes be lonelyespecially if you are the only high-level person in the organization. It is difficult to explain to others the effort, constant attention and burden of leadership. Actually, a QuickBooks survey found that more than 75% of small business owners report feeling stressed but may not want to discuss their feelings or concerns with employees
However, they are willing to open up to other business owners. Recently, I taught a class for Michigan Small Business Foundation for a group of business owners. During the discussion, those feelings of being alone flared up. Everyone looked hungry share experiences and get honest feedback on business initiatives. This was a two-session camp, not designed for a long-term commitment. To my surprise, in just eight hours of class, the participants bonded quickly and many exchanged information to keep in touch.
This need for peer conversation and compassion is real. For many people, the answer is to join business groups. Sounds like a good idea, but do your homework. You may find that the experience doesn't live up to the hype and the cost doesn't provide a return. I know from experience.
Over the years I have joined economic groups, women's forums, trade organizations, etc. The results were mixed. Today I have connection with several organizations It's worth the time, but I want to offer some ideas for those still searching.
Is it the right fit?
We all love to belong, but why are you looking for a community? Want to know more about your industry? Want to get together with other owners to share general knowledge? It's about Networking and sales? This is great, but be prepared. While you are selling to them, they are selling to you. Make sure the group is your preferred target market. Otherwise, it can be annoying and a waste of time.
Many business owners join organizations that offer group purchasing power for goods and services or various types of insurance. This levels the playing field for smaller businesses and gives them what larger entities enjoy simply because of their size. It can be a great benefit, but look at how the organization controls member offers. Is it just pay to play, or is there a process to find the best value for members? And know that the offer will change over time.
Related: 7 Networking Groups Every Small Business Owner Should Join
Do you relate to the mission?
Every organization has a mission. Some focus on serving specific groups, such as veterans, women, minorities or specific industries. Others have a broader mission. For example, National Small Business Association (NSBA) is a nonpartisan organization serving all small businesses. For more than 85 years, it has advocated for small businesses and provided a way for business owners' voices to be heard.
While serving as Chairman of the Board for NSBA, I had the opportunity to testify before the House Committee on Small Business about the challenges of establishing, sustaining and future growth. I have participated in this organization to this day because of its mission, which I believe in.
One of the most important things about dating a mission-based organization is that they often have the time and resources to focus more deeply on the issues at hand. It's hard when running a business to do it all, so having the power of an organization behind you makes it more manageable.
Does the organization have a strong board and succession plan?
Organizations have a life cycle. They are built, leveled, and then either rise to a new level or begin to fall. Strength and resilience are often based on a great staff, a strong board and a succession plan. At one point, I was a panelist for a meeting of a local chapter of a national organization. I liked what I saw and inquired about membership. To my surprise, they asked me if I would join and be the next chapter president. This is not a good sign. The problem was that the local chapter was losing members and did not have a strong programming committee.
Call me crazy, but I accepted the challenge. I asked the national team to relax some program requirements and worked to stabilize the organization. We recruited new board members and put a solid succession plan in place. Today, the chapter is still functional and healthy.
Look at the board and plan for the organization. Is it vital? On the rise? Is there an opportunity for you to grow and gain experience on board?
Related: Joining a board early in your career can change your trajectory for the better
Look at the cost
Most business associations are non-profit and have various levels of membership. A premium level gives you additional access to resources and events. You need to evaluate if this is worth it or if the basic membership gives you what you need. Some organizations offer free or online membership. This gives you the opportunity to experience what they have to offer and then upgrade at a moment's notice.
One final thought
Over the years, I've learned a few things. The value of membership really depends on what you put into the organization. If the programming isn't accessible, it's hard to participate and I don't get much out of it. Some organizations were great when I started my business, but no longer met my current needs or kept it fresh.
Don't get stuck when you outgrow an organization. Move forward. Finally, there should be ample opportunity to meet face-to-face and virtually. The real benefit is the people you meet. Making connections is why you join, so make sure you're excited to “get in the room” with them.