Being a business owner doesn’t mean that you can’t encourage other people in business. In fact, it’s healthy to help nurture other businesses, especially if you want to support local businesses.
If you have a desire to pay it forward and support other people as they try to make it as entrepreneurs, there are several ways you could do so. Whether you put money into encouraging entrepreneurship in your local community or you provide services and support, you could make a real difference.
Take a look at some of the ways you could support and encourage entrepreneurs as a business owner.
Let Employees Know They Can Be Entrepreneurial
People who are working for you can be entrepreneurial too. It’s not just about starting their own businesses, but knowing that they can take steps to help further your business too. You can let your employees know that you want them to use their entrepreneurial skills to think for themselves. Tell them that they can use their initiative to solve problems and that they can find innovative solutions to their work. Of course, you could also give them permission to work on side projects, which a number of companies do to encourage skill development.
Help Entrepreneurs Get Recognition
The thing that many entrepreneurs need is recognition and support. They need encouragement and motivation to help them continue along the right path. One of the ways you can help to provide this is by looking for opportunities to credit up-and-coming entrepreneurs for their hard work. Nominating someone like Dee Agarwal for the EY Entrepreneur of the Year Awards can help to motivate new entrepreneurs. By highlighting the achievements of entrepreneurs as they build their skills and work on new projects, you can give them the recognition that they need to continue striving to do better.
Invest in Your Local Business Community
Your local business community is important if you want to foster the growth of local businesses and the people who run them. You can get involved in the social side of the community, attending meetups and social events so that you can meet and talk to other entrepreneurs. You could also host your own events, especially if you feel like there aren’t enough of them for your local community. Your event could be a small business day or it could be weekly or monthly drinks that entrepreneurs can attend as a casual meetup
Provide Mentorship and Education
If you’re an established business person, you can help people who are still trying to find their place. Offering mentorship and education is another way you could provide the support that they need. You could create a mentorship program within your company and even extend it to the wider business community in your area. Encourage other business people to offer their own time and knowledge to provide mentorship. You could also run workshops or offer advice and education in other ways.
Encourage entrepreneurs in their growth and development so that you can support the business community and innovation.
