Blog | Entrepreneurship

Support is a Key Success Factor

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The journey to financial independence can be exciting and fun, but also intimidating and challenging at times because there is so much new to learn. That is why I highly recommend that you start building your support network right from the beginning.

Your journey is too important to embark on all alone. Having access to a network of people who provide support, education, advice, and resources can't be over-emphasized. Take a look at the most successful people in any field - business, sports, politics, the arts, anything. At first, the superstar is the one you see. But if you look more closely you'll see there is a support network behind them who helped them get where they are, and continue to aid them even as they prosper. 

You've probably heard me say before that you need to have a team including attorneys, accountants, brokers, etc. That is true. You'll also need to have a network of people who support you as well as advise you. This includes people who are your cheerleaders, accountability partners, mentors, coaches, etc.

Building this network isn't difficult. It's just something you choose to go out and do. Here are some ways you can get started now.

  • Friends and family who truly support you. For more on this, read my blog titled "Who's In Your Circle?"
  • Local organizations for the investment type or industry you are interested in. If you're interested in real estate, seek out your local real estate investment association. If you want to start a business, look for an organization for entrepreneurs. Search out the kind of organization you are looking for via the internet or with help from a librarian. 
  • CASHFLOW Clubs. This is a great way to meet people who understand what you're trying to do - and who hopefully have experience and industry contacts to share. 
  • Online forums for investors, especially those that focus on your area of interest. You can find forums for investing in general, as well as those that focus on real estate, business, tax liens, stock trading, precious metals, you name it - if you're interested in learning about something I can almost guarantee that other people are too and have already created a meeting place online to discuss the topic. 
  • Local investors. Tell people you trust about your goals and ask them if they know anyone who is doing the sort of thing you want to do. If they do, see if you can get in touch with them.  
  • Paid coaches and mentors. If you just aren't finding people who have experience doing what you want to do, then seriously consider the benefits of hiring a coach or mentor. For instance, Rich Woman Coaching has experienced women coaches who can help you through the process as well as keep you accountable.
  • Accountability partner. It's easy to break commitments we only make to ourselves. When we tell someone else about it, our motivation is stronger. A good accountability partner keeps us on track so we keep moving forward.

When you engage with others who are doing what you are doing, you can gain encouragement and ideas that will help you face any hurdles that come up. So start building your network now, and keep building it as you progress. As your learning and investing advances, your needs will change, and so should your network. This is an exciting and ever-changing journey, and you'll be glad to have a support network on your side!

Original publish date: July 07, 2010

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