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The Power of a Peer Advisory Group

As a CEO or business owner, the best decisions you make for your business involve developing the people who make up your teams to become better leaders, to make better decisions, and to drive better outcomes in business and in life. Now is the time to invest in yourself in the exact same way.

You might feel it’s too late for a New Year’s resolution, but it’s not too late to take a step that could dramatically energize your business and your life outside the office.

As a CEO or business owner, you have the vision and the authority to make things happen at every level. You also have an impossibly full schedule with little room to squeeze in one more activity. But if that activity is joining a peer advisory group, that single step can bring deep and lasting benefits to you and your company.

Time is a precious resource. Beyond spending it wisely, it’s important to spend it in a way that multiplies its value. Consider the focusing question Gary Keller asks in his book, The ONE Thing, “what is the one thing I can do such that by doing it everything else will become easier or unnecessary?”

Imagine the insights you might receive in bringing your struggles and opportunities to a group of CEOs who have perspectives on similar issues. The benefits that you can derive from joining a peer advisory group pay dividends that reach into all areas of life.

 

Freedoms vs constraints

The freedom to make decisions, take risks, and control your own destiny are associated with the role of CEO or business owner. At the same time, these freedoms are constrained by a sense of isolation and the feeling that there’s no one to talk to about sensitive issues, openly and trustingly, within the organization.

In a peer advisory group, composed of 12 or more leaders from non-competing industries, the balance changes. You’re no longer alone at the top. Instead you become part of a group that shares a common goal of making better decisions that drive to better outcomes.

 

Questions vs clarity

When the full responsibility of your business is on your shoulders, you can find yourself deeply immersed in the day-to-day action. Situations arise–whether problems or opportunities–and you’re without the necessary perspective needed to act.

A peer advisory group brings together a select group of high-caliber individuals, executives in diverse industries, who share some common interests and concerns. The group helps you gain perspective, to avoid the tunnel vision that leads you to always respond to similar challenges the same way.

Confidentiality and trust within the group provide the structure that allows for open and honest sharing. Mutual respect and a common focus on better decision making create the setting for powerful conversations that lead to growth that can’t be achieved on your own.

 

Inaction vs accountability

Change is hard, even when the results are strongly desired. It’s easy to slip back to old ways– just look at the typical pattern of New Year’s resolutions. Accountability, particularly to a group or to someone you respect, changes the dynamic entirely. A peer advisory group fulfills this function. When you’re the boss, who has the authority to really keep you accountable?

In-person peer advisory groups are being formed with these challenges and goals in mind.

As a seasoned business coach leading peer advisory groups for nearly a decade, I have chosen to expand my practice by partnering with Vistage and taken on the role of Vistage Chair.

The peer group model creates an effective space for CEOs to come together and share in a way that helps them become better leaders, make better decisions, and drive better outcomes in business and in life.

At this point, I am looking for growth-minded CEOs from non-competing industries who are committed to growing their businesses and themselves in the next few years.

If this is something you’d like to explore, why not schedule a 15-minute call so we can determine if this might be a good fit for you?

 


Nancy Owsianowski is the Founder of RoundTable Consulting
where her relational, insightful approach transforms teams,
leaders, and organizations.

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