The 5 People Who Determine Your Success
I remember when I first heard the much cited Jim Rohn quote, “You are the average of the five people you spend the most time with.” I was building my first business, Little Pim, and trying to learn everything about being a CEO while doing it all for the first time.
I had already hired super competent people at work, so big check there, but what was the state of my entourage outside of work?
Once I got serious about building Little Pim into a multimillion dollar company, I realized I needed to put myself into situations — work, social, and a bit of both — that would help me find people who would both cheer me on and pull me forward.
I needed to find peers and other entrepreneurs who were a few steps ahead of me and would help me grow in the areas where I needed help, such as managing and growing my team, long-term strategic planning, fundraising and introductions to possible investors.
Is expanding your network something you have been thinking about too?
You probably already know that one of your most important jobs as leader is to be a fountain of optimism and inspiration for your team. You must do what I call “hold the vision” for where your company is headed no matter how many bellyflops or twists and turns it takes to get there, so it’s critical to surround yourself with positive people who will help you stay in that mindset and help you grow. This might require taking an honest inventory of who you spend time with now.
I noticed that when I did that inventory of my social life, there were some people who tended to be super negative and didn’t think helped me be that “vision holder.” So I made some changes. I still chose to spend time with my friends who like to point out all the things that could go wrong with my business but got onto more of a twice-a-year-for-coffee schedule, and I steered away from talking about the company when with them. Then there were people in my life who were either too risk-averse themselves to be able to support me in taking the risks I needed to take to grow my business, or they just emphasized the risks in an unhelpful way.
One way to find new people who will support you and help you stay in that optimistic zone is to form an “Accountability Group” or partnership with a fellow entrepreneur or just someone you know and like who is doing ambitious things. You can do this with just one other person or 2-5 people. If you set a weekly or bi-weekly time and meet in person or virtually, you can set monthly goals, cheer each other on, and make sure that you are each staying on track. These kinds of groups have proven invaluable in helping people get further, faster, and feel more supported while they tackle new challenges.
Who are the people in your life massively helping – or massively hindering you - on your entrepreneurial path? Who helps you stay positive and on track? Is it family? Is it some frenemies you are keeping around for no reason? And are you making time to actively check in with peers via a networking group or finding and cultivating mentors? As you build your business and go outside of your comfort zone to learn new skills, you will need your “peeps” to have your back.
Helping women get that support from powerful and positive peers is one of the reasons I created Million Dollar Women. A stellar community of women business owners are meeting and supporting each other in The Network, where founders from across the US and Canada find free business tools, get access to successful female founders who have #BeenThereDoneThat, and work with mentors and coaches who can help them get to the bigger version of their dreams. If you are looking for that kind of help and want to not only level up those “5 people” but add another five hundred who can help you achieve your goals and dreams, check out The Network. Soon you’ll be too busy making new friends and learning marketing, sales and finance shortcuts to miss those frenemies!