Inching your way into Industry Associations

Industry associations are important aspects of business. Most organisations during their growth path, join such industry forums to belong to a community of like-minded service-providers. How do founder-entrepreneurs assess whether their ventures are ready to join business groups? Here are some indications that will help you decide.

“In a year that left many feeling alone, association membership is a port in the storm, a safe haven to call home while you figure things out.” – Jennifer Taylor

?Never before has been the need to ‘belong’ been felt so strongly in the business community.

The COVID-19 pandemic exposed vulnerabilities. At the same time, it drew out the strength of industry associations. Trade associations acted as the true ‘safe haven’ that anchored businesses by giving their requirements a unified voice, extend helping hands, and exuded strength in numbers.

From textile producers to tour operators, tea growers to tool manufacturers, every business big or small are a part of their respective industrial associations. Of course, it is important to find the right one. Most trade associations are national bodies with local chapters, so it is not difficult to zero in on one aligned to your business interests. The common dilemma that entrepreneurs face is deciding when to join. ?

During initial phases, start-ups focus on establishing brand awareness and building a customer base. Moving to industry participation ideally follows in the third phase of a business’s growth. This when you need to

-?????????Network extensively

-?????????Garner industry knowledge and harness it for innovation

-?????????Understand what your competitors are doing

-?????????Find opportunities for new business of collaborations

-?????????Need advocacy and representation to the government

To conclude, timing is important in every aspect of business. Only after your venture steadies and is reasonably known, it is then the time to move towards industry participation. In your quest for excellence and business success, remember that, as Leslie Goodyear said, “Associations are critically important because of the opportunities they offer members to advance their own work and their field.”?