At SDR Ventures, we are a big supporter of peer share groups. It can be lonely at the top for CEOs and peer share groups provide a number of valuable benefits. Gaining outside perspective, a big-picture focus and accountability are just a few.
Peer share groups are made up of non-competing CEOs and typically meet once a month to receive outside perspective on their business. A moderator will typically facilitate the meeting and sometimes provide one-on-one coaching.
One of the greatest benefits of peer share groups is the wide range of perspective. A good group will be comprised of individuals representing a number of industries. The unique input that comes from these diverse perspectives can be transformative for any business owner or operator.
For CEOs, it is important to remember that working on their business is just as important as working in their business. The high-level perspective that comes with peer share groups is extremely important. It allows CEOs to focus on the big picture as opposed to the details of their daily work. A look at the business from the 10,000-foot view with other CEOs carries incredible value.
Peer share groups also provide a level of accountability that can rarely be found elsewhere. Giving regular updates, sharing progress and providing feedback are benefits to all members of the group. When assumptions are challenged and old paradigms tested, growth and progress become realities.
Because of their effectiveness, a number of successful peer share group organizations have sprung up around the country. Our research indicates that there are currently 19 operating nationally. Groups like YPO, Vistage, EO and TAB are a few of the most successful, providing not only peer sharing, but great coaching as well.
For any CEO or business operator, we would recommend researching and becoming involved in a peer-sharing group. Linked here is a PDF list of organizations that operate groups across the country.