Why You Should Belong to a Business Forum - by Trey Maust

I’m an entrepreneur. I vividly recall our formation efforts in 2005, our doors opening for business in 2006, and all the work since then to build the healthy bank you see today.  These real-world entrepreneurial experiences have given me a keen appreciation for the satisfactions – and frustrations – of starting and running a company.

While I’m all for learning in a formal way – reading, attending courses, going to conferences – some of my most important and pragmatic education has been through strategic business forums.  Mine happened to be Entrepreneurs’ Organization, Vistage, and Strategic Coach, but there are many others.  Finding the one that fits you may take a little research, but it is without a doubt worth the time and effort.

Here’s why I belong to strategic business forums – and why I think any business owner or top executive should belong to one (or more than one):

1) Become Energized:  Running a business can be fatiguing. You carry a huge load of responsibility, and  sometimes that drains your energy and the idea bank. Meeting and talking with other business owners refreshes me, gives me new energy and helps me see possibilities I might not see on my own.

2) Find a Better Way:  Sometimes you do things a certain way because that’s what you fell into - but it may not be the most efficient, effective or profitable way. Other business owners can help you by sharing best practices they’ve tried and found effective.  Just as importantly, they may alert you to mistakes they’ve made in the past so you can steer clear in your own business.

3) Stay Strategic:  You spend a lot of time with your head down in the details when you own or manage a business. Talking to other business owners usually (actually, nearly always) gets me thinking more about strategy. That helps me decide whether the details I’m spending time on are really the right details – and change things up if they’re not.

4) Help Others:  Others will benefit from your insights, experiences and sharing. There’s something really satisfying and invigorating about helping another entrepreneur un-stick himself or herself. It gives you a surge of energy and oftentimes new ideas to consider for your own business.

5) Connect:  Old-fashioned business networking helps everyone grow. You can probably help other people in your group gain new business by making introductions or sending them to the right person. And they’ll do the same for you.

We’re so bullish on small business forums, we’re starting one here at Lewis & Clark Bank – the Compass Forum. This group of non-competing business owners will meet every month to share ideas and experiences. It will initially be led by an experienced business strategist, to focus everyone on strategic planning and get people familiar with best practices for forums.

Interested? You’re eligible if you are:
• A business co-founder, owner or principal

AND
• A client or friend of Lewis & Clark Bank

The pilot group already filled up – and quickly.  We’re thinking about building a second one.  If you have an interest in participating, let Colby know at cschlicker@lewisandclarkbank.com.

Here’s to helping Pacific Northwest businesses succeed and grow!