A peer advisory group is a group of small business owners from diverse industries who get together on a monthly basis to solve problems, share best practices and offer each other peer support.

Benefits of Peer Business Advisor Groups

• Handle Personal Issues: Small business owners are limited in sharing personal issues. With a peer advisory group your peers are in the same situation and have a high degree of empathy.

• Sounding Board: A peer group acts as an informal board of directors and an opportunity for real-world experience sharing.

• Overcome Isolation: It can be a very lonely being the owner of a small, growing business.

  Your friends and family do not understand the issues you face. You cannot confide in your employees. However, every business owner in your peer group has the same sense of isolation and can offer support.

• Improve Odds of Success: Business success takes vision and insight. Your peer group can help you turn your focus away from the day-to-day issues and look at the bigger picture that can have a major impact on your company.

Joining a Peer Business Advisor Group

Becoming a member in a peer business advisor group requires meeting qualifications. Membership may have qualifications such as: minimum revenue levels, employee counts, age limits, non-competitive industry requirements, and invitation only.

- Article by Wale Bello