BB Ep 67: How to Build Community With Your Business with Natalie Franke

A few months ago, I read a very interesting article in The Washington Post about a researcher who studied 400,000 knitters. She was learning about my favorite topic: how these women turned their hobby of knitting into a business. She discovered an interesting phenomenon that I've actually witnessed for years now

through Business Boutique. Before I launched Business Boutique, I conducted my own research on women with businesses. I noticed an interesting theme: When it comes to turning your hobby into a business, a sense of community plays a key role in women doing it scared. When we have camaraderie and support, when we can lock arms with other women and do it together, we're more likely to launch the business we've been dreaming about. Related: How to Face Your Fears and Do It Scared This woman's research reiterated that reality. From the 403,168 individual knitters she studied from 2007 to 2014, the ones who joined a group to craft socially were 25% more likely to start a business.(1) When asked what it was that transformed these women from pattern makers to pattern sellers, the most common answer was that someone they knew had encouraged them to sell their work: Many had already been modifying patterns and designing their own yarn gnomes and cat costumes, but until they heard from others, they lacked the confidence to step out on their own.(2) I was blown away by this. Not because I had never heard of this phenomenon before (my own research proved it), but because this principle of needing community is still true in a specific industry like knitting and on a massive scale like a study of 400,000 people. There's no doubt that entrepreneurship can be intimidating and lonely. But that's where the power of building community comes in. I see this every single year at our Business Boutique events. When you bring 3,000 women together from all over the country who work in all types of industries and are in different stages of business, there is a special bond created. Here's what happens: These women walk into the room with all kinds of feelings, fears and questions about their businesses, and they think they're the only ones who feel that way. But once they hear the speakers on stage and connect with other women struggling with the same things, they realize, I'm not so crazy after all. Community opens our eyes to the truth, gives us the confidence and support we need to take the next step, and cultivates a place to belong. It's everything we need to stop letting fear hold us back from making our dreams a reality. Related: How to Push Past Your Comfort Zone and Try Something New The Three Types of Community You Need  No matter what stage of business you're in, if you don't have a community around you, I want you to make building one or getting into one a top priority this month. You should be a part of three different types of communities: 1. People in Your Shoes This means people walking in the same shoes as you are or those in the same type of industry or business you're in. When you come together, you feel a unique connection that you wouldn't feel with someone in a completely different business. This will be your network of people who understand exactly what it's like to do what you do. When you get together to knowledge-share with this group, you exchange very specific advice on things like: handling difficult customers best practices, policies to protect yourself and vendor recommendations marketing strategies specific to your target market managing the seasonality of your business 2. People in Other Shoes This is a group of people who have different perspectives from you because they work in different industries. It is so beneficial to have this community, because oftentimes, we get too close to our business. We can get so deep in the weeds that we truly can't see the forest for the trees. But when you seek support from those...