Building a Community to Build Your Business

For many small business owners, especially those just starting out, it’s hard to find your competitive edge against long-established companies already in the marketplace. Sure, they’ve got the marketing and the large budgets, but don’t count yourself out of the game too quickly. 

What many new business owners have on their side that many established businesses don’t is the scrappy desire to level the playing field and establish themselves as a viable business.

In this episode, LZ and I will be talking with Sangram Vajre, co-founder and chief evangelist of Terminus, an account-based marketing software for B2B organizations. He shares how building a community can help build your business, and how those connections can turn into huge profit.

Here are some takeaways he shared:

1. Opportunities often happen at the worst time.

During uncertain times like the ones we’re in right now, it’s not uncommon for new business opportunities and new talent to thrive. Now is the best time to consider starting something new or expanding some of your current business ideas and practices. 

2. Without a community, you’re simply a commodity.

Pursue the problem your potential customers may be facing, not your product. Fall in love with the problem you solve, not your product.

Your community will ultimately be the greatest brand ambassadors, and their buy-in will ultimately determine who you are as a business. Build and organize a community to determine if the problem you set out to solve with your product is truly meeting their needs. 

3. Think like a day-one operator—and own your narrative.

You’re either evolving or you’re becoming obsolete. Hold onto that fire you had at the beginning when you first launched and be consistently intentional, which will yield massive output.

Be bold, be concise, and have a clear point of view. Remember who you are and decide what you want your customers to say about you. Then, make sure everything you do, from your branding to your products, aligns with that.

This cheat sheet will help you serve a specific audience, as well as help you build awareness around a distinct issue or cause impacting your business and its community.

Let’s take these a step further with these questions for you and your team:

What would be your first logical step to building your community? What practices do you have in place to start right now?

What are your customers saying about you? Does it align with what you say about you, what your website says about you, and the products you offer? What problem are you solving for your customers?

Do you have any customers who have personally taken on the role of your business’s informal brand ambassadors? What are some ways you can better equip them to speak confidently and knowledgeably about your business?