In the realm of small businesses, a refreshing shift from cutthroat competition to collaborative community is taking center stage. The notion that united efforts can yield far more substantial outcomes than isolated struggles has ignited a transformative movement. By choosing support over rivalry, entrepreneurs are not only rewriting their destinies but also reshaping the landscape of commerce itself. The spirit of camaraderie is driving innovation and propelling small businesses towards unprecedented pinnacles of success.
In this blog post, we highlight ten approaches that exemplify how small businesses are rewriting the rules of the game. These efforts might seem small, but added together, they can have a huge impact. And, let’s be honest, if we can make an impact with small actions, why wouldn’t we do them?
- Shop Local – Supporting local small businesses in your area not only keeps money circulating within the community, but also fosters a sense of camaraderie among entrepreneurs. And the best way to shop locally online from multiple small businesses is (drumroll, please) your local Member Marketplace website! In a recent survey conducted by Red Egg Marketing they found that small businesses generate $68 of local economic return for every $100 spent with them.
- Collaborate on Projects – By working together, small business owners can leverage their strengths and knowledge to create amazing products or services. Collaborating with other small business owners is a great way to build strong relationships, exchange valuable information and knowledge, and ultimately create amazing products and services that you wouldn’t have been able to create alone. Small businesses often have unique strengths and insights that they bring to the table, and by working together, these strengths can be combined to create something truly exceptional. In addition, collaborating on projects allows small businesses to tap into each other’s networks, expanding their reach and potentially reaching new customers. In today’s competitive market, collaboration is key, and small businesses should embrace the power of working together to achieve their goals and reach their full potential.
- Promote Each Other – Shout-outs on social media and word-of-mouth recommendations go a long way in building credibility and expanding your network. The US Chamber of Commerce takes a deeper dive into Why You Should Connect With Other Small Businesses on Social Media
- Attend Local Networking Events – Get involved in local chambers of commerce, trade associations, and other groups where you can connect with like-minded business owners and gain valuable insights into industry trends.
- Provide Referrals – If you can’t personally provide a product or service, refer someone else’s business instead. As a small business owner, it’s understandable to want to keep all the business to yourself. But have you considered the benefits of referring customers to other businesses? Not only does it create goodwill within the community, but it also shows that you care about providing the best service to your customers even if that means recommending another business. Additionally, if that business returns the favor, you could receive referrals as well, leading to new customers and potentially even partnerships. Remember, it’s not always about competition, sometimes it’s about collaboration.
- Share Best Practices – Small business owners can learn a lot from one another, especially when it comes to best practices, tips, and tricks. Small businesses often face unique challenges, including limited resources and budget constraints. However, by sharing best practices, owners can tap into a network of knowledge and experience that can help them overcome these hurdles. For instance, a small business owner who struggles with social media marketing can benefit greatly from connecting with another business owner who has mastered this skill. In this way, small businesses can leverage each other’s strengths and overcome shared obstacles.
- Give Back to the Community – Participate in charity events, volunteer your time, and donate goods or services to help those in need.
Infographic: Small Business Charitable Giving – Big Impact on Local Communities
- Mentorship – Mentoring newer business owners can help them get a foothold in the industry and gain valuable knowledge and insight. Forbes gives us Five Reasons Why Every Business Owner Needs A Mentor, No Matter How Successful They Are
- Attend Conferences – Attending conferences can provide valuable networking opportunities, as well as educational workshops and sessions. Our CEO, Cherie Edilson, recently attended Missouri’s Premier Downtown Revitalization Conference and gained important knowledge. We shared about her experience on our LinkedIn Page.
- Stay Positive – Always maintain a positive attitude and support your fellow small business owners even during difficult times. Small business owners face a multitude of challenges on a daily basis. From financial woes to lack of support, it can be tough to maintain a positive attitude. However, it’s essential to stay positive even during difficult times. Negativity can bring down team morale, affect productivity and deter potential customers. Plus, by supporting other small businesses, we create a tight-knit community that can share resources and offer valuable advice. Ultimately, staying positive creates a domino effect. It uplifts those around us, fosters a more optimistic environment, and can even improve the bottom line. Remember, success starts with the right mindset.
By following these ten tips, we can support our fellow small business owners and build a stronger, more supportive community.
