CEOs and business owners who have never participated in a peer group advisory meeting are naturally apprehensive about what goes on. They always want to know—how can this help my business? How can I afford to spend a full day away from my business?
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E001: Why Peer Advisory Boards Are Good for Business
This uncertainty is understandable. You’re not buying a car, which you can see and touch and test-drive. The Catapult Groups experience is a process that helps people get better at their job over time. The focus of our program is enabling chief executives and business owners to think more clearly, benefit from the views and insights of others and get objective, one-on-one coaching from a Catapult Group Leader—men and women who have served in CEO or similar roles themselves and therefore have a keen idea of what each member is going through.
Building a strong business requires making a series of good decisions over time. One bad decision can kill a company. Time and again we’ve seen situations where a group member has been advised by the others not to take a particular action—and come away with a very positive result. Imagine having the benefit of a group of experienced business leaders focusing on your issues and in the process helping you save (or make) thousands of dollars. Isn’t that worth one day away from the office?
At the first meeting
Joe and Marie are new members of a Catapult Group. At their first meeting, they introduce themselves and meet the other members. Then they are invited to share a specific issue (or opportunity) that they’re confronting in their business. This immediate participation is very important, since we don’t want spectators in these group sessions. Members are here to share what’s going on in their business and to offer their views on issues and opportunities in other members’ businesses. The key is active participation.
After Joe and Marie make their presentations, other members ask questions until everyone feels the issues have been thoroughly clarified and that everyone understands the crux of the problems. A discussion follows revolving around possible solutions and action steps. It’s important to note that these are facilitated discussions, led by a Catapult Group Leader. The Group Leader’s role is to focus on the issue at hand so (a) the discussion doesn’t bounce all over the place and (b) the group drills down to those parts of the problem that are most relevant and useful to the member.
Joe and Marie won’t necessarily solve a business issue or find a great opportunity in each session. What does happen is that they quickly get to know their fellow members and immediately get fresh perspectives on what they’re going through—perspectives that, for every member, often prompt them to look at things in an entirely different way.
When we’ve succeeded in doing this, we’ve performed a great service.
Following the discussion, Joe and Marie are asked to formulate an action plan (with input from other members) and to commit to taking action before the next group session. Taking action and being accountable for that action are critical components to the Catapult Groups member experience. It’s what leads to members unearthing new solutions and opportunities that help them become better leaders and grow their businesses faster.
Learn more about how membership in Catapult Groups will make you a better leader.