Whether you’re an experienced business owner or an entrepreneur at the beginning of your journey, you will have heard of peer groups, but maybe you’ve wondered if the investment is worth it, especially during a time when everyone seems to be saving rather than spending.
Remember, though, part of the reason peer groups charge as much as they do for membership is to separate those who are serious about becoming the best version of themselves, and those who are perhaps a bit more half-hearted in their approach.
So, if you ARE serious about achieving meaningful personal and professional success but are still undecided about investing in a peer group, here are three reasons to help guide your decision.
Accelerate personal growth
Am I achieving my full potential? How can I achieve better work/life balance? What does success mean to me? Where can I find more time?
If you’ve asked yourself one or all of these questions, it’s because you’re seeking something beyond the boardroom, beyond the adrenaline of deal-making and material reward. Being part of a peer group exposes you to other highly-driven and successful individuals who are looking for the same things you are.
As a business leader, it’s rare or even impossible in a normal environment to have frequent, organised access to fellow business leaders. A peer group does this by regularly putting you in the same room with like-minded individuals who support, learn and grow with each other.
Solve problems and achieve breakthroughs more quickly
Too often as a business leader, your time is spent on the details of keeping your business alive. And when a significant challenge arrives—i.e. a global pandemic!—it’s probable that you’ll be expending so much of yourself putting out fires and adapting to changes that you won’t have much time to simply stand back, reflect and develop solutions.
However, when you’re regularly surrounded by other business owners who are going through the same thing, or have experienced a challenge similar to yours in the past, those solutions will naturally arrive a lot quicker and with less sleepless nights.
A peer group regularly puts people from diverse sectors, background and experience in the same room together, so whether it’s a professional or personal problem, it’s very likely at least one of the members will have a solution for you.
Achieve ultimate balance
Too often, the business world emphasises and even glorifies the hustle—18 hour days, high stress, relentless competition and the notion of achieve, achieve, achieve! A peer group temporarily removes you from that world and puts you in a safe place where you can talk honestly about your challenges and worries instead of internalising them.
A good peer group also focuses on aspects beyond business success. You’ll increase self-awareness—crucial for developing your EQ, which is essential for great leadership—and learn how to take better care of yourself both physically and mentally. Whether it be through workbooks, guest speakers or simply conversing as a group, your path to meaningful success and wellbeing, and the tools you need to achieve them, will be made clearer to you.
Remember that success only matters if it leads to fulfilment, and this means a happy, balanced working and personal life. A peer group is an essential link in the chain towards realising this ultimate level of success.
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