Building a business is challenging, even for the most experienced. The journey is going to be complex and uncertain, full of obstacles and opportunities.
It can also be very lonely. Very few people can relate to the things that are keeping you awake at night.
Think about that for a moment. Outside of your position, who truly understands the specific pressures, decisions, and the time spent thinking about how to keep progressing? And as you move toward your goals, it’s very likely that there will be fewer and fewer of those people.
Navigating the journey requires specific resources and support which guide, uplift and empower you as a leader. A support system with those capabilities doesn’t come together by accident, it requires intentionality in seeking and assembling the proper components.
A support system is fundamental for any business owner aiming for long-term growth.
A support system tailored to your journey as a business owner will help you break through the isolation and position yourself and your business for the future you envision.
However, to truly be effective, this system needs to be strategically curated with resources that build strength, agility, and resilience.
Curating your support system is absolutely critical for the business owner who wants to:
Every business owner’s support system will include a variety of components and will evolve over time. However there are three core pillars that every business owner must establish as a part of their support system: 1) a one-on-one guide, 2) a large community of peers, and 3) a small advisory group of like-minded individuals.
Every business owner needs individualized guidance from a trusted expert. This is a one-on-one relationship, typically with a trusted, skilled business coach or advisor who brings insights and objective advice tailored to your specific business goals and challenges.
To become the best version of ourselves and the leader our business needs, we need a trusted resource(s) who:
Hiring a business coach was one of the best business decisions I ever made. (And many of my podcast guests have said the same thing.) I’ve worked with several over the years, and consider that a permanent role in my support system.
As I’ve mentioned, the most effective resources for this type of individualized guidance are a business coach or business advisor. These professionals focus on the business owner holistically, providing guidance that addresses leadership and business growth. A strong business coach or advisor is there to advise, elicit, enlighten, and keep you accountable on your overall journey.
A business mentor might also be an option if you have one who has faced similar challenges, can share seasoned insights, and is willing to commit to a more formal working relationship.
The goal is to find an expert who sees the “big picture” of your business, is a consistent presence, and helps you remain true to your overarching goals rather than just solving one-off problems.
While business consultants and specialists can be extremely valuable, they’re not the solution for the individualized guidance being described here.
Unlike an advisor or coach, these professionals are often project-based, coming in to address a particular challenge but not maintaining a continuous, overarching relationship with the business owner.
It’s generally most effective to have one primary coach or advisor at any given time. Building a close, trusted relationship with a single coach allows for continuity, deeper understanding, and greater accountability. However, as your needs evolve, you might change or add a new advisor over time to meet different challenges in your business journey.
For example, while working with my strategic advisor, I also engaged a coach to work on speaking and leadership presence. There was synergy in the work being done, without much concern for conflicting input.
In other situations, it may require intentionality to ensure alignment between multiple advisors. For example, if you engage a business advisor to work on business strategy and simultaneously hire a business coach focused on developing your online offering, there’s a chance of overlap, which would need managing. (This scenario is common with business advisors and marketing-focused coaches.)
Every business owner benefits from the clear-headed advice and seasoned wisdom a business coach or advisor provides. The individualized guidance builds a foundation of clarity, confidence, and purpose, helping you uncover insights and strategies that drive growth.
The second pillar in a successful support system is a broad community network of peers who share some common ground - think industry groups, for example. This type of group provides a broader base of support and shared experiences from many others on similar journeys. The power of these communities are in its diversity of perspectives and collective strength.
A larger community network could include industry groups, business associations, online business communities, or local business chambers of commerce. These groups offer broad exposure to a variety of insights, resources, and relationships, helping you stay connected with others who are also business owners but may be in different fields.
These communities typically also provide access to educational content, workshops, and presentations from outside experts.
While large, generalized social media groups may offer some value, they often lack the focused support and engagement necessary to truly be part of this pillar. Communities that are not tailored to the unique needs of business owners (e.g., general-interest networking groups) may lack the depth and relevance you’ll need in a productive community network.
Networking groups like BNI are another great example. This is not a knock on BNI. BNI can be a fantastic resource for the right person with a clear goal of generating business referrals. But remember, the goal of this Network is to grow as a business owner and leader, which isn’t BNI’s value proposition.
Yes, it’s beneficial to participate in several community networks. Different groups bring diverse perspectives, and by engaging with a few select communities, you gain a broader scope of knowledge and resources. Joining a variety of networks can be beneficial, as each group brings a unique angle that enriches your overall support system.
For example, you might be part of an industry-specific association, a business development group, and an entrepreneurial community, each serving different needs.
These larger community networks are invaluable, broadening your perspective and showing you what’s possible through others’ experiences. It’s a reminder that you’re not in this alone - you’re part of an entire world of like-minded business owners, all pushing forward and trying to figure it all out together.
While a larger community network involves many peers who have some thread of common ground, there is also a critical need for a smaller, highly focused group of peers who have much more in common and are very familiar with each other and their businesses. These peer advisory groups offer in-depth understanding and close-knit support.
These groups typically include 8-20 members who meet selective criteria and are supported by structured facilitation. This intimate, carefully selected group of peers creates a high-trust, informed environment where members can be transparent, seek advice, and hold each other accountable.
They’re like a SWAT team for tackling tough challenges and becoming better decision-makers and leaders for the business.
Effective peer advisory groups include mastermind groups, entrepreneurial roundtables, or small, invite-only business councils where members are selected for their similar growth stage, values, or industry.
Among the most well known are Vistage, Entrepreneur’s Organization, Hampton, YPO, The Alternative Board (TAB) and many others. Mastermind groups are also similar when run in a similar fashion.
I'm a ten year member of Vistage, and I include joining Vistage as one of the best business decisions I've ever made, along with hiring a business coach. Steve McFarland, who was a guest on The Business Owner's Journey podcast (Episode: Steve McFarland: Being an Emotionally Intelligent Business Leader) was the Vistage Chair of one of my groups.
These groups foster close, intimate discussions that focus on each member’s specific goals and challenges, providing tailored advice.
Peer Advisory Groups are distinct from a Board of Directors. Generally a Board of Directors has fiduciary responsibilities, voting rights, and a vested interest in a company’s outcomes, whereas a Peer Advisory Board will not.
Traditional networking groups or casual meet-up groups often lack the structure, depth, and commitment that a true peer advisory group requires. A mastermind group (or any other group) which does not have selective criteria for membership, structured facilitation, does not focus on the leader and the entire business, would not effectively serve the purpose described here. Those programs can still be valuable, but for other, likely more specific, goals.
The right peer advisory group should be structured to provide a consistent, high-trust environment where each member is dedicated to supporting each other’s progress, not just occasional networking or surface-level discussions.
Creating the right environment for a peer advisory group is challenging but essential.
While some business owners may participate in more than one advisory group, one solid peer group is usually sufficient, as the value of this pillar lies in the depth and intimacy of relationships.
The best peer advisory groups require significant time and effort from each member, so it’s most effective to fully commit to one carefully selected group rather than spread yourself thin across multiple advisory groups.
For many business owners, this close-knit group becomes one of the most valuable forms of support, helping them uncover blind spots and inspiring confidence. With this inner circle of trusted advisors, you have the freedom to discuss ideas openly and tackle challenges head-on, surrounded by others who understand the journey.
Together the three pillars - a 1-on-1 coach or advisor, larger community, and small peer advisory group - create a well-rounded support system that addresses a business owner's needs on multiple levels. Each pillar contributes to the strength of the overall framework, helping you navigate obstacles, avoid burnout, and achieve meaningful growth.
Without these layers of support, many business owners find themselves feeling isolated or overwhelmed. With the right support system, you’re equipped to move forward confidently, knowing you have the resources and encouragement in your corner.
My advice to all business owners is to make it a priority to build and invest in your support system. The journey is going to be challenging enough, you don’t need to try to do it alone. Each of these pillars plays a distinct and vital role in your journey - providing the clarity, community, and close guidance that will keep you sharp and resilient.
When you have your Trusted Advisor, The Network, and your Inner Circle firmly in place, you’ve got the scaffolding to become the best version of yourself as a business owner and leader.
Nick Berry is an accomplished entrepreneur and CEO, whose track record includes founding and leading numerous companies since 2002.
He is also a mentor and coach to other entrepreneurs and business owners who are looking for a trusted (and proven) advisor.
Among peers, colleagues, staff, and clients, Nick has been referred to as both 'The Business Guy' as well as 'The Anti-Guru', due to his pragmatic approach and principled leadership.
He shares his insights and lessons learned, along with those of his expert guests,
on his podcast, 'The Business Owner's Journey'.
