What Strong Networks Can Do

18 Jun 2024 · 1 min

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In this segment, the speaker shares a personal experience of launching a first business without knowledge of essential back‑office operations such as budgeting, tax compliance, and vendor selection. By reaching out to a trusted business owner—referred to as Kyler—the speaker gained introductions to reliable attorneys, accountants, and vendors. Kyler’s network, built from years of hands‑on experience, saved the speaker weeks of research and protected them from low‑quality or dishonest service providers. The narrative underscores the strategic value of advisors who have “been in the trenches,” emphasizing that their established networks can be accessed to accelerate a new venture’s operational setup and reduce risk.

Chapters

Let's consider the connections that an advisor can make for you. When we started our first business, we knew what we wanted to sell and who to sell to, but had no idea where to start. How do you create a business, set a budget, and take care of taxes along with all the important back office functions? I reached out to a business owner in my network. Let's call him Kyler. He had started his own business a few years prior and was someone I looked up to. Kyler met with us and then connected us with some attorneys and accountants, as well as vendors he trusted for his own back office systems. Kyler's guidance saved us weeks of research and kept us from getting stuck with lackluster or even dishonest vendors. Advisors like Kyler have been in the trenches and have built strong businesses, so they've developed a network they rely on that you can also access.