Success in entrepreneurship isn’t just about your business skills or innovative ideas. It’s really about who you spend your time with—your close friends and allies. Having a supportive, inspiring, and helpful group of people around you can greatly increase your success. In fact, I was reading an article where a study showed women are 2.5x ¹more likely to have a higher-ranking job when they have a strong inner circle. To translate that to women who freelance, have a small business or side hustle- we could tentatively say you are 2.5x more likely to find a higher level of success in your business with the right people in your inner circle.

What is an Inner Circle?

At its core, an inner circle is a tight-knit group of individuals who profoundly influence your thoughts, decisions, and actions. For entrepreneurs and small business owners, these people are not just friends or family; they’re mentors, peers, and connections who offer guidance, support, and wisdom.

IMPORTANT: You have to actually prioritize spending time with your inner circle! I know for some of you mompreneurs out there, time-wise, your kids are currently your inner circle. For you to experience the kind of business growth you desire, it will be critical to build and maintain (spend time with) your inner circle.

The Importance of Being Intentional with Your Inner Circle

Your inner circle can significantly impact your business growth and personal development. The right circle brings diverse perspectives, challenges your thinking, and supports you through highs and lows. Choosing who you bring into your inner circle is essential—ensure they share your values, inspire you to move forward, and genuinely care about your success.

Who Should Be in Your Circle?

To have a successful inner circle that can really help you reach your full potential as a business owner, you will need to fill each of the following roles.

1. Mentor or Coach: Experienced individuals who have navigated the entrepreneurial path successfully and can offer invaluable advice. Someone who will keep you accountable and challenge you to reach your full potential in your business journey. (I recommend you connect with them on a weekly or monthly basis to experience consistent growth.)
2. Peers: Fellow entrepreneurs at similar stages of their business journeys for mutual support, sharing ideas, and cross-partnerships. (I recommend you connect with them weekly or monthly.)
3. Advisors: Experts in specific areas (finance, laws and taxes) who can provide guidance on more complex issues. (You will connect with them on an as needed basis.)
4. Advocates: Friends or family who believe in you unconditionally, can offer emotional support, and encouragement, and use word of mouth or their social platforms to share your business. (Weekly)

Why Having Only Advocates (Friends and Family) Is Not Enough

Most of you truly only have advocates in your corner. While having advocates are important, they often will not be able to offer you the support needed to help you get to the next level. Do not make the mistake of thinking an inner circle of emotional support is enough.

Advocates fall short in supporting you on your journey because they lack the knowledge and expertise to know what it takes to get you where you want to be. Yes they love you and want the best for you. BUT this can also be used against you. Sometimes even our loved ones have the best intentions and can quickly make us doubt our abilities.

So why having a strong advocate is necessary in your inner circle, you need a more diversified circle to protect what you are building and who you are becoming as a business owner.

Take Inventory of Your Current Business Inner Circle

Take time to consider who the top five people are that you go to for business advice/encouragement. Then, categorize them as Mentor/Coach, Peer, Advisor, or Advocate.

Do you have all 4 of these roles filled in your circle?

If not, you are missing out on your full potential and business growth.

For any role you do have filled, is it filled with the right person?

Reflect on who currently influences your life and business decisions. Do they align with your goals and values? How have they challenged you positively and supported your growth? Have they proven they have your best interest in mind? Are they what you need to get to the next level?

If not, it might be time to reassess and make changes to ensure your circle is contributing positively to your success.

How to Build Your Inner Circle for 2.5x Business Growth

Creating an empowering inner circle doesn’t happen overnight. I think it is fair to say most of us just go with the flow, comfort, and convenience of those already around us,naturally forming the group of people that have a front-row seat to our growth.

But what if we reverse-engineer our inner circle? What if we first determined what kind of people we would need in our lives to get the results we desired for our business? With that goal in mind, let it help you to be more strategic about who you choose to let in your Business Inner Circle.

Start to build your 2.5x growth in your business by:

1. Identifying the gaps: Understand what perspectives or skills you need from others and look for individuals who can fill those voids. Do not make the mistake of leaving a gap in your circle; you will need all four roles. (Mentor/Coach, Peers, Advisors, and Advocates).
2. Networking intentionally: Attend industry events, join relevant online forums, and participate in local groups to meet potential inner circle members.
3. Offering value: Relationships are a two-way street. Think about how you can contribute to others’ success as much as they contribute to yours. The more you can pour into each other’s success, the farther you will go! This is where the beauty of building each other up and not competing against each other helps you move the needle in your business.
4. Reflecting often: Continually assess your inner circle to make sure it evolves with your personal and business growth needs.

In the fast-paced, often isolating world of entrepreneurship, your inner circle acts as a compass, guiding light, and safety net. The right circle accelerates your path to success and makes the journey more enriching and enjoyable. (PS, it is important to note that just like the right circle can move you forward, the wrong inner circle can hold you back.)

Remember, your success multiplies when it’s shared and supported. By intentionally creating your inner circle, you’re not just building a network. You’re cultivating a foundation for exponential growth and personal fulfillment.

Keep striving, keep growing, and remember—you’re not alone! The power of your inner circle lies in the collective energy, wisdom, and support that propels you forward. Here’s to 2.5x your success!

Are you looking for a business coach to help you get to the next level?

I work with women who are looking for simple strategies they can implement, who want results without feeling overwhelmed, and who desire to build a business with confidence. Take advantage of a free 15-minute strategy call with me to see if we would make a great fit!

1. https://www.forbes.com/sites/manondefelice/2019/02/20/why-having-an-inner-circle-is-the-best-thing-for-your-career/?sh=15bfe3997e5c ↩︎