How To Choose The Right Business Community Network For You

In August, Breakthrough Labs was so proud to be featured on Sifted's list of Europe's best first-time founder communities. It got me thinking about the many different types of business community networking groups and memberships, and how difficult it can be to find the right one for you and your business.

Apart from the fees, being a member of a business community can be time-consuming and it should be, because you only get out of these groups what you put in. So it’s essential to choose the right business network and, to do that, it’s important to reflect on what your needs are, the kind of support you require, and what you hope to gain from your membership.

Here are some things to consider when you’re looking to join a business community network.

Start-Up Communities and Founder Member Groups

Are you a first-time founder or an established entrepreneur? Are you working out whether your business idea has potential, or are you looking to expand your empire? The stage you're at should factor into finding the right business community, since you’ll benefit from being amongst those on a similar journey.

Of course, it doesn’t matter if some members are a little further along than you - this can even be motivating. However, you neither want to be feeling behind, nor in a position where events are geared towards early-stage startups if you’re already established.

Many groups are inclusive of founders at any stage, but browsing their events and/or resources can be a good way to see if they are catering to the support you need right now. Remember, not every membership is meant to be long term. Some are designed to support the stage you are at and help you get to where you next need to be.

What about Breakthrough Labs? Our community is here to support first-time founders and more established business women looking to accelerate and/or expand. Moreover, we are a community for those truly dedicated to growing successful tech businesses.

Niche Business Networks

Many networking groups are industry-specific, and this can be particularly helpful if you’re looking to learn and network within your particular sector. Events and resources tend to be more targeted, but networking can be limited. An independent accountant, for instance, might not be found within a legal sector-specific network, so if you're seeking suppliers, collaborators and/or outsourced support, you may have to explore elsewhere.

What about Breakthrough Labs? We are for female founders in the tech space. Our members have companies in any industry, from education to travel to health. Founders don’t have to be technical, but your business should be tech-related. For example, a wellness business that provides subscription services via an app would be considered a healthtech business.

Networking and Support

A key purpose for most community groups for founders and freelancers is to build a social platform where members support one another and grow together. Therefore, finding the right community is vital, not only for your business growth but for your morale.

Networking events can be uncomfortable, but a good community group cuts out the cold-natured business card trading traditions and instead offers opportunities to form real relationships. And the benefit of this cannot be underestimated because - let’s face it - being a founder can be isolating.

Having emphasised this though, some of us will also be looking to join business community groups with the hopes of finding clients and/or promoting our products and services to fellow members. So, if that is a goal for you, then it may be worth having a look through the group’s membership before joining to see how well they align with your target market.

A little advice - Be prepared to put as much time into offering support and advice to other members as you do promoting your business and requesting their support. Building a sustainable business is about forging sustainable relationships, and this means being present and engaged, not showing up solely to sell.

Learning-focused Business Communities

Breakthrough Labs founder Dr Kristen Weatherby

Breakthrough Labs would definitely be considered a learning-focused business community. We socialise, of course, and lean on one another for support and inspiration. However, we have a large portal of business resources and the majority of our events are informative and educational. Everything we plan and publish is grounded in research and steered by the needs of female founders as well as feedback from our membership.

Where some business groups are centred around networking, there are many other business community groups, like us, more focused on giving founders opportunities to become even more business-savvy and learn both how to build and protect their businesses.

Even seasoned entrepreneurs know that learning is never done. Just look at how much technology has moved on in the last year! A great business membership group will help you to stay on top of and understand trends, learn how to navigate changes in compliance, industry, and processes, and should be offering up opportunities to learn from a range of experts. 

Top tip - When researching a business network, it’s a good idea to browse through their upcoming events to see if they’re going to help you develop the skills you need to make your business a success.

Accelerator Programmes and Funding Opportunities

Those seeking to raise funds and/or scale up rapidly should seek accelerator programmes or join proactive communities that offer more intense support. This might include coaching, mentorship, learning opportunities, growth planning, workshops, etc.

Accelerator programmes can be expensive or require equity share, but some more niche expert-led business membership groups combine community with more constructive, focused founder support and business growth opportunities.

At Breakthrough Labs, for example, we have an in-house coach, we offer pitch practice, and we run Meet the Investor sessions that enable our members to hear directly from investors, giving them valuable insights and the in-depth knowledge required to successfully approach the marketplace.

Go With Your Gut

Our last piece of advice is to go with your gut. Finding the right business community can be a lot like finding the right place to live - it’s not always something you can put your finger on, it just feels like home.

How can you tell this though? Especially online? Well, most membership groups will have a mission statement and highlight their values on their website, so working out whether these align with yours is a good start. You may also wish to research the founder of the group, since they’re setting the tone and steering the ship. Do they have the credentials? Are they trustworthy? Do you feel they’re genuinely there to support you? And what do other members have to say about the group? Testimonials can be helpful, but sometimes you may be able to reach out to existing members at non-member events or through platforms like LinkedIn.

Lastly, if you’re satisfied that you’ve found the right business community for you, then do one more thing - consider what you can offer. Because, as stated in the opening of this guide, you’ll only get out of a community what you put in. So, can you put the time into building relationships with the other members? Will you attend the events? Are you going to give support, when able, as well as being there to receive it?

Finding the right business community and signing up is just the first step. Dedicating the time to really become part of that community is the part that really matters.