How networks support growth

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Entrepreneurs can sometimes feel like they are “going it alone.” But thanks to the cloud, small business owners can now be more connected, supported and inspired than ever before.

A company with an innovative idea doesn’t always have to build a product or market from the ground up to succeed. Our connected world has forged healthy networks and communities that provide fertile ground to help businesses grow.

The value of connections

When FUTRLI (formerly CrunchBoards) co-founders Amy Harris and Hannah McIntyre launched their business back in 2014 they turned to Xero’s ecosystem. By plugging into an already booming network, they were spared some early growing pains and time delays.

Frustrated with the amount of admin time it took to get what they needed from their spreadsheets, they developed tools to give them the real-time, real-life forecasting they were looking for. When they realised what they’d created would work for all small businesses, their business was born.

Launching as a Xero app partner from day one, they had leads coming straight from the Xero community. Referrals are one of the most credible forms of marketing, and the online community made this even more viral. They had new enquiries filtering in from Boston to Kilkenny, leading to growth that would not be possible if they had launched on their own.

Making the most of the network effect

We’re increasingly seeing startups leverage the benefits of this network effect. Xero has invested heavily in maintaining an open platform, which has exploded to now house over 500 integrations. Building to an established and open business platform like Xero’s API, gives start-ups the chance to hit the ground running and fast-track global growth because they have access to an established support and customer network.

Successfully integrating with ecosystems like ours opens up a universe of potential for an entrepreneur. A successful network enables access to increased income as well as fast, reliable and credible customer feedback – the perfect recipe to refine and grow your product.

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