Being a business owner comes with so many wonderful things. However, it comes with its own set of challenges as well, such as a feeling that you cannot possibly share the challenges you are encountering with your friends, family, or team members lest you may come across as someone who is not up to the task of entrepreneurship.
You don’t want to be seen as someone who made the bad choice of starting your own business. You don’t want to be seen as vulnerable. It does at times become so lonely at the top.
It doesn’t have to be that way if you choose to join a peer advisory group which might be the perfect remedy for all the challenges that come with business ownership.
I want to list 10 compelling reasons for you to consider taking this most important leap.
- You deserve unique insights and support. As much as you as an individual is unique, so is your business. As a business owner the challenges and pressures you face may be unique as well. Having a well-established group of your peers to discuss problems with during a peer advisory group enabler meeting can truly be a game-changer for you and your business. The diversity of the group will provide you with a safe space for you to fully open up to possibilities. You can get unbiased advice from non-competing business owners, who would wish only the best for you.
- It offers more than just business value. While you may join a peer advisory group to bring more value to your company you get more than chasing just your business dreams. Like minded business owners can offer much needed support which then could have a positive rub-off on you personally, your family and bring with it a better work-life balance. It will be surely more than what you signed up for.
- The opportunity to share and care. Being part of a Peer Advisory Group is not just about getting advice, you will find opportunities to help other business owners in areas where you excel. It is reciprocal and goes a long way in building your personal brand and reputation as well.
- It helps you build your leadership capability. Learning and developing key business leadership skills is crucial for business owners. Your peer advisory group led by an experienced facilitator and your peers will push you to develop your leadership skills through peer-to-peer coaching and mentorship. It will act as a great resource pool of lived experiences, teaching leadership lessons which no training program can provide and is worth its weight in gold.
- Helps you avoid mistakes. As a business owner, learning by committing mistakes and failures may not always be ideal and can be demotivating as well. It could deplete you of energies which are much needed for you to focus on growing your business than learning costly lessons. Being part of a peer advisory group, you could well save yourself from the huge cost of such mistakes by learning from each other’s mistakes.
- Saves you the huge costs of hiring a personal group of advisors. Having your own personal board of advisors for business may cost you a lot and at times can be constraining giving you limited flexibility. Having joined a peer advisory group you not only save the costs of retainer fees but benefit from a diverse board which can help you upskill faster.
- Helps you harness the power of collective. The fact that you have other business owners and leaders, you already will have an existing resource pool, structure and tools to help you keep moving forward in your journey. The power of the collective helps you to be more proactive.
- You will overcome the tunnel vision effect. As business owners, unconsciously we surround ourselves with people who tend to agree with us more. Those who are willing to toe the line of our thoughts and ideas. It happens a lot with business owners. Most small business owners will find teams who seem to show their agreement just so that they are in your good books. That however is not always productive. There is a need for us be open to alternative ideas, embrace different perspectives, be challenged, disagreed with and pushed to think outside our own little box. A peer advisory group can help with that as all in the group are there to learn and grow and have no other agenda.
- Brings greater accountability. Peer pressure brings with it greater accountability. The fact that we will have to face up to our peer group regularly adds a positive peer pressure, pushing you into moving forward with your goals. It builds great ownership.
- Provides you with great opportunities and friendship. Being vulnerable and helping each other grow the business, peer advisory groups not just open up great opportunities for your business, but it also builds strong bonds with your peer group, who you can continue to rely upon in the long term. It builds friendship.
Peer Advisory Groups enable you to push yourself outside your comfort zones. That’s where breakthroughs happen and you grow your business, take it to the next level.