When one is trying to grow a business, it can be challenging if one has to do so by oneself.  What choices does one have though?

Building relationships with similarly situated individuals can add tremendous value.  By building relationships with individuals who are similarly situated, one may identify opportunities to:

1. Share resources
2. Pool knowledge
3. Make referrals
4. Exchange ideas
5. Participate in joint marketing
6. Collaborate on business ideas

This is all common sense, right?  One would think so.  In fact, one is likely to find a lot of small business owners who are trying to start a business by themselves, rather building relationships.

Often, existing relationships are not especially helpful because people are at different stages.  Associating with people who are well past one’s current situation is often frustrating and a waste of time for both individuals.  Instead of helping each other, the people are likely to frustrate each other.

If people are similar levels, they are able to help each other and team with each other.  They see the world from similar enough perspectives that they can relate to and learn from each other.  Where one person has a strength, the person is able to share knowledge.  When the need is something that another member of the group has dealt with, there is no stigma attached to asking for help. 

Selecting individuals who are different from oneself is a critical success factor for such activities.  If individuals are too similar, one may have challenges because the individuals have perspectives that are too close so they limit each other.  At the other extreme, if one chooses individuals who are too different from oneself, it may be impossible for the people to communicate effectively.

What tips do you have for creating a successful team in such situations?  Have you done so?  What worked?  What would you change? 

Filed by Coleen Davis at 11:40 pm under Business Acumen, Solving Problems, Tips for Students