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Tiffany Pham, founder of Mogul
Petros Dellatolas
Entrepreneurs are a crucial element in advancing as a human race by improving the lives of individuals and communities, as well as the economy in general. Being an entrepreneur is a difficult path to choose. It can have a mental, emotional, physical and financial impact. However, entrepreneurs answer yes to the call and persist in fighting against winds and tides. Unfortunately, support and access to capital has declined. There has been a decline in entrepreneurship over the past century. There are many reasons why, including rising student loan debt and a shrinking middle class, which means Uncle Joe can no longer afford a business loan. That’s why it’s even more important for us to support new business start-ups from friends, associates, and even those we may not know.
Often, entrepreneurs feel like they’re working alone in a silo. At the stage of building a business, there isn’t much outside encouragement to help build momentum. The momentum must come from internal forces and often it can run out. A founder puts energy into every crevice of the company – from product development and marketing to fundraising and office toilet paper storage. And if there is a setback, the founder should always lead the company by being strong, confident and optimistic. It’s no wonder founders are 4 times more likely than the general public to suffer from depression.
Being an entrepreneur is hard work. The support received often takes the form of praise, but there is rarely action behind the words of affirmation. Most of us are guilty of not taking action. Naturally, life is busy and complicated. What if you only took a minute out of your day to “follow” your friend’s business page or pre-order their product?
What you might not know, if you’re not an entrepreneur, is how important it is to get help. The smallest of actions can be the biggest boost to a business and an entrepreneur’s momentum. Doing things like donating five dollars to a classmate’s crowdfunding campaign or offering to help paint your cousin’s new office builds the energy and momentum an entrepreneur needs. Here are other ways to help:
social media
A very easy way to support is to “follow” or “like” a business page. Building a following builds credibility for the business and can be key to unlocking things like funding, partnerships, and purchases. Many people turn to social media as a means of evaluation. So click this button to support and consider sharing their content from time to time.
Connections
Entrepreneurs need a variety of connections to start and sustain a business. You might have the perfect connection needed to drive the business forward. This could be a potential mentor, angel investor, potential client, influencer, press, or relationships directly related to a specific business need (like a warehouse with good rates or a graphic designer). Every company is different, ask a founder what kind of relationships they may need. An introductory email has the potential to transform business expansion.
Product
Forgo a few days of lattes and buy your friend’s product. If you are not their target audience for the product, buy it and give it to a friend. There’s no better way to show your support than to validate the product or service the person you know is offering through a purchase. It’s a great way to show that you really want this person to succeed and feel supported. Buying can naturally help them fund their business and offers actionable stats to show market needs and help with other things such as increasing visibility through algorithms on a platform they are selling on .
Comments
Post a review or send a testimonial for the contractor to use on their website. If it’s a physical product, you can take a photo of it, or even better, a photo of you using the product so it can be used for promotions. Lending your complimentary voice goes a long way in building credibility for the business.
Sponsorships
Let others know about the service or product being offered. Help launch the business to the world by creating a ripple effect of support.
Professional shower
Host a “business party” to help bring a friend/relative/colleague’s business idea to life. If you know someone who is starting a business, throw a party or have a happy hour where you invite your friends to bring a gift to get their business started. This could be office supplies, pre-orders of what they sell, or anything else that might support their business.
Time + Skills
Offering a business owner a few hours of help is a great way to show your support. This can mean bringing in a specific skill set based on your expertise or offering general help. It’s a great way to personalize your support through direct interactions.
Your support matters. Any action you take actually helps a business and its owner. It can also be exciting for you to be on the ground floor watching a business take off, or seeing how your support gives an entrepreneur more courage, fuel, and confidence to lead their organization. If you know someone starting a business or owning a small business, consider supporting them. You can also offer support to global entrepreneurs or buy their products, especially in developing countries where resources and role models are scarce.
Tiffany Pham, Founder of Mogul, adds, “Nurturing and providing resources to diverse entrepreneurs is important because they experience life through different angles, which allows them to solve unique problems. Supporting good entrepreneurs, especially in developing countries, can create lasting impact. . By elevating a business owner, communities flourish, innovations increase, and the world becomes a better place. Different global entrepreneurs are tackling issues that, if solved, could have a positive impact on other global issues.
Entrepreneurs find flaws in systems and offer solutions. They see opportunities where others might not. They aim for the moon, but sometimes touch the stars. They hustle. They take risks. They push beyond their limit. They do what others may not be willing to do. They appeal to their curiosity and imagination. They believe anything is possible. They contribute to something bigger than themselves. They drive innovation and move the world forward. They do research. They create. They learn. They grow. They generate jobs and stimulate economic growth. They make products and services that can improve people’s lives. They need you and you need them. Your support matters.
Other articles in this series:
Item 1: Dynamics of Sex and Power – Women in Business
Section 2: Dynamics of female and male workforce
Section 3: Businesswomen are breaking age-old systematic constraints
Clause 4: Uncomfortable Truths and a Three Trillion Dollar Missed Opportunity: Women in Entrepreneurship
Thank you for taking the time to learn and be part of a positive change!
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