The Evolution of Peer Groups, CEO Roundtables and Mastermind Groups for Business Owners - What works?
Where did the business peer group for CEO & business owners concept come from?
The concept of peer-to-peer support groups was first discussed by Napoleon Hill when he rocked the entrepreneur world by his famous book, “Think And Grow Rich”. He found out from his research of the most successful people of his time that a key differentiating factor that made people successful was being involved in peer-to-peer support groups.
His studies have also shown that people from competing industries who are at the same stage of growth is the most effective group in order to reap peer-to-peer benefits. "Men take on the nature and the habits and the power of thought of those with whom they associate in a spirit of sympathy and harmony. Through his association with Edison, Burbank, Burroughs, and Firestone, Mr. Ford added to his own brain power the sum and substance of the intelligence, experience, knowledge, and spiritual forces of these four men. Moreover, he appropriated and made use of the mastermind principle."
Why is this important to you as a business owner, CEO or executive?
Common mastermind groups bring synergy of energy when peers with similar skills, interests and success levels come together. There is a sense of commitment and excitement when you challenge each other to reach and exceed goals. Fresh perspectives are shared when you brainstorm new ideas and borrow proven ideas from each other’s success.
Why peer groups with facilitators?
Studies of these mastermind groups showed that your experience could be enhanced exponentially with professional facilitators in the mix. While fresh ideas fuel all businesses and peer idea exchanges are empowering, free flow of random ideas without regard of true impact and outcomes could be dangerous.
With proven business success in their field, these most-often-retired business people turned business facilitators bring experience, best practices and resources they accumulated from their prior professional life. Some of them work under a franchise organization’s umbrella, thus bringing additional cumulative resources these organizations possess to guide, coach and facilitate the peer group experience.
Professionally facilitated peer groups or executive clubs sometimes also provide speakers on myriad of business or trend topics, allowing you to keep your thumb on the pulse of business trends and important issues, adding a third dimension to the experience.