Peer networks are incredibly powerful when all the pieces are in place. There needs to be the right mix of members, the right facilitation, and the right reasons for the members to be involved. When these elements align, peer networks can flourish.
Peer groups are formed to allow business leaders to join other like-minded leaders in a forum to share goals, challenges, ideas, best practices, and solutions. Today, there are many formats, ranging from very casual with virtually no structure to highly facilitated with regularly scheduled meetings and high accountability for established goals. Either can work if they meet the needs of their members.
Members need to have commonalities with their businesses. These could be based on the industry, scale/size of the business, demographics, or other factors. Competitive businesses are typically avoided in the same group, as members often share closely held information. For example, it is very difficult to have a successful group with members trying to grow gross sales from $500,000 and others trying to grow gross sales from $15 million, as they are in completely different business environments.
Facilitation for these networks ensures the groups have structure and achieve their intended goals. Facilitators are there to make sure, with a little guidance as needed, that network members are sharing and growing as a team. The financial investment in a peer group is largely to cover the costs of the facilitators and the facilities if meetings are in person.
The other important piece is for members to commit to giving as much as receiving. If members are there simply to learn and listen, peer groups are probably not a good fit. Not everyone feels comfortable in this type of environment, as it is expected and beneficial to share the most intimate details of your business.
Once these types of groups begin to gel, they take on a life of their own. New relationships formed in the group often lead to long-term alliances and friendships. For years, many contractors in the irrigation industry have asked for some type of independent peer group. The Irrigation Mastermind network is hosting its first conference outside of Boston in the first week of the new year. The group is almost fully filled but is expected to grow over time. With several recognized industry facilitators and the participation of the Irrigation Association, there will be more information to share soon on the group’s development.
Christopher Pine, CLWM, CID, CIC, CLIA, CIT, MCLP, is a principal of IrriTech Training and the president of BluGreen Solutions in Pocasset, Massachusetts. He can be reached via email.