The Power of Community

My oldest son and I used to watch almost all the Star Trek shows together when he was growing up.  The "Borg" was a consciousness collective that assimilated all who got in its path, as a way to further its mission to achieve perfection.  While I don't condone attaching nanoprobes to all who come in your path, I do believe that we are all made stronger by joining forces with others who have strengths we do not possess individually.

This certainly carries over to starting and/or running a business or organization of any type.  One is not expected to be an expert in finance, law, insurance, sales, marketing, branding, and more. What one does need to be is an expert on their own strengths and weaknesses.  Only then can you look to enhance those weaknesses, either by gaining the skill set or surrounding yourself with those who have them already.

If you're just starting your business and have limited experience, I highly recommend that you create your "advisory board."  Have an attorney, accountant, bookkeeper, strategic business coach, insurance agent, sales/marketing and communications person, and banker or other capitalist who are knowingly on speed dial.  These are people who know where you want to go with your business, and can answer questions as you try to get there.  Keep in mind that each of them usually sees the issue from their vantage point, and therefore will offer advice from the perspective of their knowledge base.  But that's exactly what you need.  Your insurance agent, for instance, may tell you that you need to purchase a particular type or amount of insurance, where your attorney and/or bookkeeper may tell you otherwise and why.  You get to take in all their advice and make the ultimate decision that drives your business, having the whole bird's eye view of your plan.

For those who are already in business, there comes a time when you run into situations you've not experienced before.  Who do you turn to when that happens?  Your employees?  I think not.  Maintaining trust in your leadership ability may be crucial to the strength of your organization.  Uncle Joe?  Has he run a business before or dealt with the same issue?  Your children?  Spouse?  While you may respect these people's opinions, you need to make sure your information is coming from a place of knowledge and experience without an investment in the ultimate outcome, in order to assure its only bias is in your ultimate success.

​Choose your advisors as carefully as you would choose your mate.  They often affect your future.