One complicated part of growth is recognizing that the people who care about you are not necessarily the people best equipped to offer perspective on every decision.
We all view decisions through the lens of our own experiences, priorities, financial circumstances and definitions of success.
Imagine you are considering a significant investment in your business. Perhaps you are thinking about hiring, expanding into a new market or pursuing another opportunity. You mention the idea to someone you trust, and the immediate response is, “Why take that risk? Things are going well already.”
That reaction may be perfectly reasonable from that person's perspective. They may be evaluating the situation primarily through the lens of preserving stability, while you are considering both the potential opportunities and risks associated with a business decision.
Both perspectives can contain useful information, but they are not necessarily answering the same question.
Developing as a leader includes learning to consider the context behind advice before allowing it to influence an important decision. The objective is not to dismiss people who challenge you. Thoughtful disagreement can be valuable. Rather, it is to understand where a perspective comes from and determine how relevant it is to the decision at hand.
A Strong Circle Should Not Be an Echo Chamber
Building a supportive professional circle does not mean surrounding yourself with people who agree with every idea.
In fact, some particularly useful conversations may come from people willing to ask the questions you would rather avoid.
Have you considered the cash-flow implications? What happens if implementation takes longer than anticipated? Does the opportunity align with your broader strategy? What risks have not yet been considered? What additional information would help you make a more informed decision?
Questions like these can strengthen the decision-making process because they encourage examination rather than simple affirmation.
Ideally, a trusted professional relationship gives you room for both encouragement and challenge. The other person does not make the decision for you. Instead, the conversation helps you identify assumptions, consider alternatives and determine what additional information may be useful.
That distinction is particularly important when financial considerations are involved. Friends and professional peers can offer valuable perspective, but significant financial, legal, tax or business decisions may also warrant input from appropriately qualified professionals familiar with your individual circumstances.
You May Need a Wider Circle, Not a Different One
There is a version of personal-development advice that suggests growth requires “outgrowing” people. Relationships are usually more nuanced than that.
Different people can play different roles in your life.
A longtime friend may be exactly the person you want beside you during a difficult season, even if she has no interest in discussing profit margins or hiring strategy. A former colleague may understand your industry particularly well but may not be the person you turn to for a personal challenge. A fellow business owner may offer a useful perspective on leadership while knowing relatively little about another area of your life.
There is room for all of those relationships.
Instead of asking whether everyone around you is helping you “level up,” consider a less transactional question:
Do you have a broad enough range of relationships for the personal and professional responsibilities you have today?
That question can also help with boundaries.
Not everyone needs a vote on a business decision. Someone you trust personally may not have the experience necessary to evaluate a particular business or financial question. And you do not necessarily need to share an opportunity with everyone before you have had time to develop your own perspective.
Being intentional about where you seek input can help you focus on the perspectives most relevant to the decision.
Sometimes growth does not require leaving people behind. It simply requires adding more chairs to the table.
Building Community Requires More Than Networking
If you decide you would benefit from more relationships with other leaders or business owners, attending one networking event and collecting business cards is unlikely to create meaningful community by itself.
Professional relationships generally develop over time through repeated interactions, thoughtful conversations, shared experiences and mutual contribution.
They may begin by consistently showing up in environments where useful conversations are already happening: professional associations, leadership groups, industry organizations, educational programs or peer communities.
But simply entering the room is only the beginning.
Community develops through participation. Ask thoughtful questions. Share relevant experiences. Make useful introductions. Follow up when a conversation is worth continuing.
Over time, those interactions can create familiarity and trust—and trust creates room for more meaningful conversations.
Leaders Need Places Where They Can Think Out Loud
Leadership often calls for composure even when you are still working through the answer yourself.
Your team may need clear communication while you are evaluating several options. Clients may expect thoughtful guidance. Friends and family may see the visible side of a business without seeing every decision behind it.
Having trusted places where you can say, “I'm considering this, and I haven't reached a conclusion yet,” can be valuable.
The right conversations can help you examine assumptions, identify missing information and distinguish emotional reactions from practical considerations. They can also reinforce an important reality: uncertainty can simply be part of making a complex decision.
Professional peers do not replace qualified financial, legal, tax or other professional guidance when it is appropriate. But they can provide something different—a place to articulate the question and consider what information or expertise you may need next.
Your Circle Is Part of Your Leadership Infrastructure
Business owners frequently think about the infrastructure needed to support a business: processes, financial information, goals, delegation, technology and teams.
Relationships deserve a place in that conversation too.
The people around us can influence how we process setbacks, evaluate ideas, challenge assumptions and respond to uncertainty.
Instead of asking whether you have enough people in your network, consider:
Do you have the right places to have the conversations your current stage of leadership requires?
Some of those relationships may already exist and simply need more attention. You may decide certain people should have less influence over particular decisions. Or you may recognize an opportunity to intentionally develop relationships with other women who understand the responsibilities that come with business ownership and leadership.
A bigger network is not necessarily a better one. What may matter more is having a range of trusted relationships that bring different experiences, perspectives and areas of expertise to the conversation.
Why Thoughtful Financial Conversations Matter
At Wilcox Financial Group, we believe financial conversations are often part of the broader conversations business owners and leaders have about their goals, responsibilities and futures.
Money rarely exists in isolation. Financial decisions can intersect with business priorities, family considerations, changing responsibilities and longer-term goals. Having opportunities to ask questions and consider different perspectives can help bring those issues into clearer focus.
No individual professional has every answer, and there is rarely a single approach that is appropriate for everyone. Financial circumstances and business decisions are personal, and an approach that may be appropriate for one person or business may not be appropriate for another.
That is why thoughtful conversations can be valuable.
Sometimes those conversations help identify questions that haven't been considered before. Sometimes they highlight an issue that may deserve additional attention. And sometimes they help clarify when it may be useful to seek guidance from an appropriate professional.
For business owners and leaders, financial decision-making can be one part of a much larger picture. Creating space to discuss those decisions thoughtfully—and to consider them alongside personal and business priorities—can be a useful part of the process.
At Wilcox Financial Group, we value being part of those conversations.
Have a financial question you’ve been thinking about? Consider starting a conversation with your financial professional about your circumstances, priorities and the questions that matter to you.
Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, LLC, member SIPC (www.sipc.org). Supervisory address: 300 Corporate PKWY, STE 216 N, Amherst, NY 14226. 716-276-1138. Wilcox Financial Group is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. CRN202908-11833949.