In our world we are surrounded by people every single day. We go to Starbucks and we have 5 or 6 people in line with us, but how often do you (or anyone else) look up, or try to make conversation?
Lately, it seems, that we are all pre-programed with the gene to pull out our phones and start browsing Instagram whenever we’re standing around waiting. But, if you take a minute and really consider that as an entrepreneur, you are a full-time salesperson, shouldn’t we consider putting our phones away and starting new conversations?
You never know who might be in line with you, or who they may know. Being an entrepreneur is all about making connections and building a network that will support you and your business.
Recently, I had the pleasure of interviewing Erik Oberholtzer of Tender Greens restaurants, who shared the power of building your network.
In The Beginning – Building Your Business Network
When Erik, and his partners first had the idea for their business they did their best to exhaust all of their options of family and friends, when it came to investing. However, they hit a point where it became necessary to start reaching out to institutional investors. Unfortunately, it did not go well, after their first meeting with someone who, in a roundabout way, told them NO– They decided to to start pursuing investors who were more philosophically and culturally aligned with them, and their business plan.
This did leave them with a bit of a struggle, though. How would they come up with the remaining money they needed to sign a lease?
Erik and his partner David came together and decided to look within their current network, to find the help they needed. David had an up and down relationship with his Father-in-Law, but decided to put his differences aside and take a meeting. They left the meeting with a check in hand, and the ability to sign their first lease.
Having that solid safety net of an internal network made ALL the difference with the Tender Greens founders. Think about who is in YOUR current network. Could anyone in it help YOU take your business further? And, if you don’t currently have a very deep network, then it’s time to get out there and start connecting!
Entrepreneurship is a Marathon
The journey through business can be extremely tough. Even when you believe that you’ve found the right path, you will likely still hit bumps that you’ll need to work through. As a business owner, things do not happen quickly, entrepreneurship is a marathon. And, while you’re running that marathon, you can become overwhelmed or go through many different emotional challenges. In those moments it is so incredibly important to have the power of partnership and the power of a supportive network of friends and family because it is a very, very difficult journey.
This may be tough for you to read, but you likely won’t be successful heading into business solo. There are just too many challenges! Very few people have the skills necessary to start a business.
You NEED a supportive network to cheer you on and pick you up when you are ready to call it quits.
In the same way that you have a better workout when you are working out with a trainer or you become a better athlete when you are playing with a group who is stronger than you or you have a coach who is going to press you harder and drive you to 120% versus the 80% that you might give if you were left to your own motivational devices. Business is the same thing. If you have partners who support you and have your back and push you when you need it and you push them when they need it, that will get you through those very difficult times.
Once again, you can see the extreme value in having an extensive network of support.
Success is Found in NO
As an entrepreneur, I’m sure you’re prepared for the frequent NO, but what you must do to overcome them is look at them not as a failure, but just one step closer to your ultimate success.
Erik had a dream of doing something with the James Beard Foundation. He had cooked there a number of times, but wanted to include the Tender Greens chefs from all of the different regions. When they approached the foundation, they were almost immediately dismissed, because the James Beard Foundation only do fine dining, not casual dining.
Erik had wanted to do this for his chefs, not for himself. He’d been there before and had the experience in his past, but now he believed his team had a unique perspective to democratize good food. His initial reaction was that they didn’t need these fine dining organizations that are somewhat closed off and pretentious, he wanted to create his own community.
That was seven years ago, and Erik tells us today, that he believes he helped allow a voice in the food business, and they have a bigger role to play. It came full circle when Danny Meyer of Union Square Hospitality Group, who is sitting on 27 or 28 James Beard Awards, decided to partner with him.
That one ‘NO’, led to a whole new and wonderful connection for Erik, with Danny Meyer.
Ten Year Plan
As the ten year anniversary comes up for Tender Greens parent company TYP Restaurant Group (TYP = Ten Year Plan), they don’t feel like they’re done growing yet. They have intentions on expanding even further, even into New York.
Instead of calling up the private equity firms, they decided to find a strategic partner, with Danny Meyer. The TYP Restaurant Group feels pretty forunate to have Danny’s interest and also a mentor who continually challenges the team to raise the bar.
In Conclusion
It can be intimidating to be the only one with your phone in your pocket, trying to start conversations with the people around you, but think about all the greatness that could await you simply by engaging with the right person. You never know who you will meet or where you will meet them.
Step outside your comfort zone, and make new connections!
