August 14, 2019

Why Peer Advisory Groups are All the Rage

Why Peer Advisory Groups are All the Rage

Successful business people, high-potential leaders, and savvy entrepreneurs are leveraging the power of peer groups. But this isn’t new. Peers meeting in the spirit of problem-solving date back to Napoleon Hill’s 1937 book, Think and Grow Rich. However, the concept has made a massive resurgence! The idea is simple: professionals agree to meet roughly once a month to confidentially work on one another's business challenges and deep-dive opportunities. Rather than a polished networking group, peer advisors offer space to be vulnerable and discuss professional gaps. Members pose tough questions. And brainstorm options on topics ranging from tactical action (broaching a difficult discussion with a direct report) to strategic decisions (organizational or department restructures).

Today, these fresher, smarter peer groups are all the rage! Seth Godin touts peer groups as “the single biggest boost your career can experience”. Groups include every generation, experience level, and industry. So why has a concept from 80-years ago gained such incredible momentum? As a peer advisory board facilitator, I hear many perks to this “new again” trend. In my experience, three stand out:

  1. Innovation. Often folks with great ideas hoard them for fear of not gaining credit. Peer advisory groups, in contrast, are about building knowledge networks. They disrupt silos by bringing together leaders who serve as idea catalysts, stretching thinking beyond one’s field and industry. After all, innovation comes about by taking ideas and combining them in new ways. Peer Advisory Boards are a gateway to finding new and better ways of tackling professional issues.
  2. It’s Lonely at the Top. Leaders and entrepreneurs crave a place where they can truly be themselves. During meetings they leave egos and armor at the door. In exchange, they collaborate in a confidential environment, with like-minded, good people. The quote "no one of us is as smart as all of us" becomes a reality quickly.
  3. 10X Professional Growth. Energy + Accountability + Action = Growth Ignited. The combined energy of trusted peers all striving towards big goals is infectious. Energy begets more energy when combined with actionable goal setting. Setting goals is easy, but taking action can get messy. Peer groups offer clear accountability to stay on track, along with check-ins and fine-tuning at every meeting. High energy, accountability, and consistent action accelerate professional growth at an incredible rate for those lucky enough to have found a trusted group of peer advisors.    


Have you found your peer advisor tribe? If so, we’d love to hear what’s working! Not just yet? Find out how by visiting Legacy Talent Development for your free guide.