His Business Is Therapy for Small Business Owners Who Feel Alone

The Solitary Grind of Small Business Ownership

Owning a small business can often feel like a solitary journey, filled with unique challenges that are difficult to share with others. Rand Larsen, the founder of SMB Community, recognized this isolation and created a platform where entrepreneurs can come together, share experiences, and support one another. His organization offers peer groups where small business owners can vent, exchange advice, and learn how to navigate the chaos of running a business. These groups are conducted over Zoom and require a yearly membership fee of $3,000. To join, businesses must have at least $1 million in revenue, ensuring that members are in similar stages of their entrepreneurial journeys.

A Safe Space for Entrepreneurs

During a typical peer group meeting, members log in from various locations, sharing their current challenges and successes. The meetings are facilitated by Larsen and a business coach, creating a safe and supportive environment. For instance, one member might discuss the difficult decision to fire an employee, while another might share a recent health scare. These conversations are met with empathy and understanding, as everyone in the group can relate to the struggles of entrepreneurship. The group also shares strategies for motivating sales teams, such as gamifying the sales process to make small wins more rewarding.

The Bigger Issue: Isolation in Entrepreneurship

Running a business can be isolating, with many entrepreneurs feeling they have no one to turn to for advice or support. According to a 2024 survey by Truist Bank, only 17% of small business owners seek peer advice, and less than a third of those with growth plans share them with professional advisors. This lack of support can lead to unnecessary struggles and missed opportunities. Larsen’s SMB Community aims to fill this gap by providing a trusted network where entrepreneurs can openly discuss their challenges without fear of judgment or competition.

Rand Larsen’s Journey and Vision

Rand Larsen, a 29-year-old entrepreneur, founded SMB Community after recognizing the need for a supportive network among small business owners. He has traveled over 10,000 miles in a camper van, hosting meetups and building connections with hundreds of entrepreneurs. His journey began with a passion for entrepreneurship, which led him to work in various industries, including industrial supplies and cannabis startups. After facing setbacks, including the closure of his first business due to COVID-19, Larsen found his calling in helping other entrepreneurs through peer support groups.

The Power of Peer Support

Members of SMB Community, such as Matthew Saskin of East Coast Towing, have found immense value in the peer groups. Saskin, who purchased his business with an SBA loan, appreciates the unique challenges discussed in the group, such as managing debt and leveraging businesses. Another member, Jack Carr of Rapid Response Plumbing, credits the group with helping him resolve a critical issue with his Google Business profile, potentially saving his business thousands of dollars. These stories highlight the practical benefits of peer support in overcoming business challenges.

Building a Trusted Network

Larsen’s approach to creating peer groups involves careful curation, ensuring that members are grouped by revenue size and business model to keep discussions relevant. Geographic diversity is also considered to prevent competitors from exploiting sensitive information. This structure allows members to openly discuss sensitive topics, such as exit strategies and financial challenges, without fear. Over time, members build resilience and realize they are not alone in their struggles, fostering a sense of community and mutual support. Larsen’s vision is to continue growing SMB Community, providing a trusted network for entrepreneurs to thrive in their solitary yet rewarding journey of small business ownership.