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What Are The Advantages Of Joining A Peer Group?

  • August 6, 2020
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Are you considering joining a CEO peer group but aren’t sure if it’s for you?

If every CEO and COO have something in common, it’s that they want to continue to better themselves as leaders and make smart business choices. There are many other CEO’s like you out there who know exactly the types of challenges you’re facing, are wondering the same questions as you, and who have the answers. Even the most successful CEO’s in the world are part of peer groups. It’s only natural to want to better yourself as a leader, no matter how long you’ve been in your particular industry.

There are many benefits to joining a CEO peer group, and here’s why you should consider joining one.

What Is A Peer Group?

You’ve probably been involved with a peer group at some point throughout your teen and young adult years. Remember working on group projects in high school or college? Each member of the group provided their own level of expertise and, as a group, you ended up acing it? CEO peer groups are rather similar, but instead of handing in a final project, you continuously try to ace your business decisions with the help of others.

CEO peer groups are business organizations that meet and discuss business-related issues, inquiries, and more. Though every peer group is different, typically they occur monthly, bi-monthly, or quarterly through in-person seminars or online forums and can help people connect with others in the industry to improve (or even grow) their own business. You do have to pay to join a peer group that’s organized by a professional, but they’re not normally a high expense and the benefits can be very rewarding.

What Are The Advantages To A Peer Group?

Being a CEO or COO requires a lot of hard work and dedication, there’s no doubt about that. That’s precisely why peer groups exist in the first place. Not only can you connect with others in similar industries, ask questions, and receive great feedback and motivational tips, but you can also make powerful connections and even find valuable new talent for your company.

One of the best things about peer groups is they can provide a wealth of knowledge for new business owners who feel as though they’re on their own. Peer groups have a wide range of CEOs, including those who have been in the run for a while and have a lot of valuable advice readily available to hand down to newer members. What better way to improve yourself than by listening and learning from those who have already been in your shoes? Plus, they can also let you know about the mistakes they made before you even have the chance to make them yourself.

Do you lack motivation some days? You’re definitely not alone. Being involved in a peer group can drastically help improve your motivation. The people around you can relate to you and they may be able to offer tips on how they stay motivated to meet tight deadlines that you can try implementing yourself. Better yet, they can offer advice on how you can motivate not only yourself, but your co-workers too. In fact, a lot of people consider their peer group their emotional support. Being a CEO can be stressful at times. By surrounding yourself with people in a similar boat, it may prove to be quite comforting.

How Do You Join A Peer Group?

Joining a group can be easy. The trick is finding the right one for you from a reputable company. As mentioned before, professional peer groups will require payment for a membership, but more importantly, they’ll clearly list all the details and important information regarding their membership, how the website works, how they plan to uphold confidentiality, etc. Once you’ve found the right group for you and read over the information, each membership may require different information from you, but typically you’ll share:

  • Your name
  • Phone number
  • Email
  • City
  • Company name
  • Your professional role within the company
  • An estimated annual sales revenue
  • Number of employees

The Opportunities Are Endless

There are many great benefits to consider when looking around for peer groups to join. They’re not just there to provide valuable information for you and your company. They exist for a number of reasons that we’ll go over again:

  • You can connect with CEOs in the same position as you
  • You can share tips on how you overcame an issue as well as ask for help yourself
  • Everything remains confidential
  • It can act as emotional support
  • You can get ahead of your competition
  • You can meet and connect with a vast group of other CEO, possible business partners, or even new hires
  • Each group is completely tailored to suit your particular niche
  • You meet at times that work best for your busy schedule – monthly, bi-monthly, quarterly, or even annually
  • Your motivation can increase, as well as the results you desire within your company
  • Interacting with a group of people in similar situations can provide you with comfort instead of feeling isolated 
  • You can gain a whole new perspective and outlook on your business life and management style

If you’re a new or experienced CEO or COO, you may find there are many benefits to joining peer groups and connecting with others in the same boat as you. No topics are off-limits, so you can be well on your way to bettering yourself, your employees, and overall, your company and its reputation. 

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