Running a business can be lonely and challenging and recent times has brought unique hurdles for firms of all sizes. A survey of 800 business owners in the UK found that 82% reported poor mental health in the last 12 months.
But as the famous saying goes, no man is an island, so as a business owner its important to remember that there are people who can support you on your journey.
According to Mike Smerlo, author of Mr.Monkey and Me: A Real Survival Guide for Entrepreneurs, its vital to find mentors who are relevant to your needs and who can “help you think about what functional areas you’re not good at, and someone who can help productively frame your role as CEO.”
At Business West, by becoming part of the chamber community, you can join The Alternative Board, which helps businesses owners grow their businesses, and increase their profit by participating in local business advisory boards and one-to-one sessions.
Why is asking for help important for your business?
Jonathan O’Shea, Managing Director of The Alternative Board says joining the community allows business owners to "get feedback and advice on their challenges, issues they’re facing, and ideas they want to implement.”
Asking for help from business mentors is one of the keys to business success and research has shown that teams with diverse perspectives and experiences make better decisions than individual decision makers 87% of the time.
With sales growth of TAB members being 5.5 times higher than the national average, this shows just how valuable bespoke support can be for businesses.
How does The Alternative Board support businesses?
Businesses have a range of different needs depending on the stage they’re at, the size of their business and their strategy. Filling knowledge gaps is important and having experienced and impartial people to help is vital.
Jonathan says:
“For some, the support can focus on growing their business. One of the companies I've been working with, over the last year has seen a 40% increase in their growth, their turnover. Another business been working with is on track to increase their turnover by 95%.
“For others, it's just about getting a plan together. So maybe they haven't really spent time thinking about where they want the business to get to. So, we focus on providing them with that opportunity to spend time putting a plan together and get clarity on what they want out of their business.”
Jes Oliphant, Business West member and founder of Sliderfy, a custom sliders company, said:
“I signed up to The Alternative Board through the chamber, where I meet with business owners every month and talk through problems and find solutions.
“We received three free months of support and I’m now a paying customer.
“It has made me wise to the recurring problems in business and has helped me to realise that no business is perfect. Going to these meetings makes you understand that everyone has their own challenges and it’s been productive in helping to address our own challenges.”
Jo Heywood, Founder of Skylark media said:
“I joined TAB 6 months ago to help keep me on track as the business expands. Since then, we've taken on 2 new members of staff, 5 new freelancers, won 3 national awards and become B Corp certified. Thanks TAB!”
Join the chamber
If you’re interested in joining the chamber community and becoming part of The Alternative Board, get in touch or sign up here.
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