Why It’s Important To Have Community In Business

The need for community is something ingrained in our primal human nature. It starts when we’re kids, continues on through our teenage years, all the way through college and into our careers. We want to belong to something that makes us feel useful. Something that gives us purpose as we grow older and that desire never disappears.

There’s always a longing to be a part of something bigger than you. Webster Dictionary defines the word community as “a feeling of fellowship with others, as a result of sharing common attitudes, interests, and goals.” When your business is dynamic with a community, you will attract quality business and quality employees. Incorporating a community into your business creates an environment that thrives. Most quality businesses look for a thriving environment to be a part of. This increases your opportunities for further growth and collaboration with other business owners. Your business will have access to more support lines for when you need that additional assistance, your other community businesses will also feel the same.

The Voice of the Community

When you create your community of business owners and grow that support between them, you begin to become the voice of that community. Other people in your community will start to reach out to you for help. This is very beneficial leverage when it comes time to needing help yourself and can lead to increased growth down the line. Business owners are more likely to recommend another business if they’ve had a good experience with them. What better experience than being a part of a community that provides support to each other.

Using Community In Business

Now, for any business to be successful you need to be revenue generating. While the model of a community may not appear to have much ROI, it’s quite the opposite. As stated by Bain Researchers, increasing retention by 5% can boost profits by 25%-95%. Increasing retention is part of having your community. Incorporating community into your business shows a level of humanity with your brand. People are able to relate much more when there’s a presence of humanity within what they do. It becomes much more relatable and real. Once your community begins to grow and expand it will have more reach into other business communities. Having that kind of pick up behind your community will also bring your business to the forefront. This provides more trust to the consumer and in turn, are more likely to work with you.

Customers Are Your Community Too

Community incorporates everyone involved with your business. Whether that be your staff, other business owners in the same vertical, or your clients. Incorporating your clients in as part of your community will help make a business successful. Businesses must take care of their clients and make them feel special. It’s not just bringing them into the community you’ve created, but it’s also being authentic at all times. Show that genuine desire of wanting the community and the people within it to thrive. BS can be detected right away by most people so it’s important to always be authentic with your community.

But, What About Staff?

Staff is one of the most important community members you can have. They are your brand ambassadors and represent your business. The more they feel loved and are filled with passion on what they’re doing, the greater your presence will become. Be sure to take care of your staff and the rest will follow.

The communities you associate with can be the biggest influences on your business journey. It will provide you with opportunities to meet influential people in your industry that can help increase your business growth. You may even find opportunities to mentor and teach someone who’s newer to the game than you are. Regardless of your journey, incorporating community in your business will not only increase your growth but give you a good overall brand image.

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