Small business owners often don't have a staff to turn to for advice and are sometimes the only employee. A peer advisory group, or business roundtable, can help with the daily challenges of running a small business. A peer advisory group is composed of small-business owners who regularly meet, usually monthly, to discuss the issues and challenges they face and offer support.
But don't confuse this with a networking group, which is often comprised of people in the same industry who meet to talk shop, socialize and trade leads. A peer group is different in that members are from diverse, noncompetitive industries, and can openly discuss problems and concerns that they wouldn't air among a group of competitors. Keep in mind that you should join a peer group whose members' experiences and concerns are similar to yours.
The best contacts and resources to help you get it done
Small business organizations
Several peer group organizations are geared specifically to small business owners and operators. In addition, many nationwide and international organizations also offer programs designed for smaller businesses.
I recommend: The CEO Clubs, normally an invitation-only membership, offer an entrepreneurial membership that's open to everyone. Vistage International's
Vistage Small Business Program includes problem-solving meetings for the owners, presidents and CEOs of small companies. Direct peer-to-peer learning is the focus of the
Entrepreneurs' Organization (EO), a global organization.
Organizations for women business owners
Female business owners face unique concerns, such as work-life balance and overcoming gender stereotypes that exist in some industries.
I recommend: The National Association of Women Business Owners (NAWBO) boasts chapters nationwide where women who are sole proprietors, partners or corporate owners can meet and exchange ideas.
Ladies who Launch is a nationwide organization with local chapters for women who want to start or expand a business or creative project to come together and share experiences. The
Women Presidents' Organization has local chapters nationwide that hold monthly meetings for about 20 women business owners.
Minority owner organizations
Many organizations geared to minority business owners focus on networking and access to financing rather than peer support groups and roundtables.
I recommend: Several Small Business Development Centers (SBDC), such as the
Milwaukee SBDC, offer minority roundtables for peer-to-peer problem-solving. Find the
SBDC nearest you to see if it offers roundtables. The Minority Business Development Agency has centers nationwide and offers an
online forum where minority business owners can exchange information and ideas.
An organization for young presidents
Starting out in business at a young age can be difficult. Earning respect and proving that you're qualified to be in the top spot isn't easy. A number of peer groups geared to younger business leaders have emerged to help with these and other matters.
I recommend: Within each of its more than 175 local chapters, the
Young Presidents' Organization (YPO) offers a forum for about a dozen young business leaders to share experiences and consult each other in confidence.
Online groups
If you can't devote the time to a weekly, monthly or quarterly meeting; if you don't live in an area where likeminded business owners meet; or if you can't afford the dues for a peer group, consider joining a free online group. Community forums for small business owners provide access to peers around the nation without leaving your office.
I recommend: The
Small Business Information Forum is an online community where you can ask questions and share ideas with other small business owners.
Regional organizations
A regional group can help you address challenges specific to your geographic area.
I recommend: Check with your local
chamber of commerce to see if they offer business roundtables or peer group meetings for members.