The Peer Advantage

Participating in a peer group provides a sounding board for many leadership decisions that lead directly to a company's bottom line.

By Greg Hayne

Peer groups, brain trusts, advisory boards, and master mind groups are all names for a similar function—bringing the brightest minds together to make a current situation better. By adding a professional facilitator to the mix, members have not only learned more efficient, better practices while watching their company grow sustainably, but they have done so in an atmosphere free of many common peer group distractions like the insatiable talker, the company whiner, and the off-topic quipster. In short, facilitated peer group members grow their companies faster and sustain that growth longer than their counterparts.

In an article analyzing CEOs like Jeff Immelt of General Electric fame, CEO’s that grow companies do so by managing cash phenomenally, decentralizing operations (freeing up their time), and generally outperforming their peers.⁽¹⁾ These are skills that are honed and practiced, earned with experience and respect. Expedited through peer interactions with other CEOs and company owners who are looking to improve their techniques as well. These are best practices a facilitated peer group looks at, analyzes, assists with implementation and then provides accountability as members begin to utilize the new tools they have learned.

Many participants call peer groups the “peer advantage.” Participating in a peer group provides a sounding board for many leadership decisions that lead directly to a company’s bottom line. Decisions like, hiring and firing policies, bonus and pay structures that work, leveraging group buying power, and so much more. These are an advantages lone wolves do not have. Finding the right peer group provides a safe and empathetic ear to a CEO/business owner’s biggest company issues and dives in to assist with resolutions. Oftentimes the collective mind can find creative solutions to overcome those problems that hold many companies back while also helping leadership sustain that growth over time by helping leaders recalibrate and focus on what’s to come.

Facilitated peer groups are a place where company leaders can bring concerns and successes to a place where there is understanding and camaraderie. Leaders can be honest and vulnerable so the true issues at hand can be handled and resolved by professionals in similar positions. Accountability can encourage and bolster a leader’s changes and help see those changes through to successful completion. Peer groups can and have helped business leaders excel and outperform non-member peers time and time again. In Benjamin Franklin’s words, “Make use of your friends by being of use to them.”

(1) Pino, Isaac, CPA. “Does General Electric Company have an Outsider CEO?” The Motley Fool. March 23, 2014. http://www.fool.com/investing/general/2014/03/23/does-general-electric-company-have-an-outsider-ceo.aspx. Retrieved January 17, 2017.

About Hayne Coaching Group Hayne Coaching Group helps roofing contractors prosper by discovering and implementing smarter, better ways to work.  We provide executive coaching for key leaders in a company and organized and facilitated industry peer groups, so that companies may benefit from their group’s collective experience, buying power, accountability and so much more. For more information, visit www.haynecoachinggroup.com.