Podcast

Podcast: Play in new window | Download (Duration: 21:57 — 20.4MB)

Subscribe: Apple Podcasts | Spotify | RSS | More

Chapter 6 is Utilize A Smart Guide.

The authors admit they struggled to come up with a neutral, all-encompassing term for the person who is charged with leading a peer advisory group. The leader of an effective peer advisory group needs to be smart and seek the guide the group so they came up with the term smart guide.

The point of this chapter isn’t to teach somebody how to be a smart guide, but rather to allow members and prospective group members to gain insights into how these groups operate and why effective guidance is so critical to maximize the potential of the group.

A smart guide in action

Co-author Leon Shapiro begins the chapter with the story of a business owner – actually a co-owner with his brother – of a business that had recently discovered a serious inventory issue. The chairperson of the group had some insight about the relationship of the two co-owners, brothers. When the issue was brought before the group, the chairperson asked questions that prompted deeper discussions about how the two brothers approached running the business. By having a smart guide help navigate the discussion, the business benefited more fully from the support of the peer advisory group.

What does great peer advisory group leadership look like?

The challenge is simply stated – how can you help your members be at their best both inside and outside the group meeting, professionally and personally?

At the top of the list is having a passion for the work. The authors talk of a group leader named Pat who died in 2013 at the age of 98, still actively leading his groups. Many of the members had been with him for more than a decade. His passion was evidenced by remaining engaged in the work as he approached the century mark of life. The interesting note is that he didn’t start until he was 73. That means he enjoyed doing the work for almost 25 years. Pat regarded it as the most meaningful work of his life. He wasn’t just helping CEOs. He was helping create jobs, helping families buy houses, helping companies support non-profit causes – work that went well beyond the top or bottom line of a company’s performance.

Bula Network was formed when I left the C-suite after having run a company for almost 20 years. As Tom Petty sings, it was time to move and time to get going. Time for a new chapter. That was back in 2008. Mostly, I wanted to help other businesses by way of consulting. That morphed into coaching, which introduced me to the idea of peer advantage. Having never been involved in the formal work of peer advantage, it immediately clicked with me. I knew I was wired ideally for the work so I set about to learn all I could. That was over 2 years ago. 

That led to me connecting with Leo Bottary, a co-author of this book. Which led to me urging him to start his own podcast…which he did, YEAR OF THE PEER.

All the while I was desperately wanting to enter this space, even if in some small way. And to do it the way I felt was most suitable for the people I really wanted to serve – small to medium sized business owners. I’ve worked with many CEOs and executives, but there’s something unique about owners. They’re operators. They’re close to the work. They have a point-of-view that resonates with me. I’ve been in that world since I was young. My passions began to intersect – my passion for small to medium business coupled with my passion to help facilitate deep conversations where problem solving and taking advantage of opportunity could be enhanced. That’s how The Peer Advantage began…and why I’m now full-throttle ahead in seeking out SMB owners who want to experience the tremendous value of the peer advantage. 

The peer advantage resonated so deeply with me because if faced with door number 1, which I could enter and engage a room full of hundreds of people, many of whom are famous and exciting…or door number 2, behind which are 7 complete strangers who will engage in deep conversation where we can get to know each other…I’m picking door number 2 every single time! That also explains why I’m not attempting to build larger groups…I want to form groups of just 7 so conversations and progress can happen more quickly and relationships can be forged that will positively impact every member of the group. 

Servant leadership

In addition to passion, another common component of effective peer group leaders – aka smart guides – was servant leadership. Robert Greenleaf coined that term in 1970 in his essay, “The Servant Leader.” Leo interviewed Kent Keith who served as CEO from 2007-2012 of what is now called the Robert K. Greenleaf Center. Kent told Leo how servant leadership came to be.

Mr. Greenleaf worked at AT&T before retiring after 38 years in 1964. Toward the end of his career he was director of management research, training senior leaders for the company. After he retired he concluded that the power culture of leadership he had known at AT&T didn’t work well. He saw a better way – servant leadership. In his model the employees weren’t there to make the leader successful, but the leader was there to provide resources and guidance to help the employees be successful.

Today experts in leadership recognize the important shift Greenleaf made. As Kent said, “Most servant leaders are only known within their organizations and communities. They are not trying to be famous, they are trying to make a difference – and they do.”

Being a good listener

Take passion, add to it the servant leadership spirit and let’s add to it being a good listener. That means more than hearing the words. It requires the ability to hear and understand what’s being said. You can best know what someone’s true needs are when you’re able to listen and understand them.

Great questions and fierce conversations

Let’s pile on another component – the ability to get to the heart of somebody’s needs. That requires asking good, even great questions. Susan Scott wrote a book entitled, “Fierce Conversations.” In the book she describes the 7 steps to fierce conversations.

1. determining the most pressing issue
2. clarifying the issue
3. reviewing the current impact
4. deciding what will happen if nothing changes
5. determining one’s personal contribution
6. describing the ideal outcomes
7. committing to action

In chapter 7 of THE POWER OF PEERS we’ll learn more about how to ask good questions.

Reaching your own conclusions

The best group leaders think of themselves as coaches, not consultants. Consultants are problem-solvers who recommend solutions while coaches help you reach your own conclusions. My career over the past decade has morphed from consulting to coaching so this progression to becoming what the authors call “a smart guide” is fitting for my experience, expertise and natural wiring.

There is a lot of evidence to support the idea that whenever we employ a solution, a decision, a plan or anything else that we conclude ourselves…we’re more likely to follow through and be successful implementing it. That sense of ownership of a solution is important.

Relationship building

The best smart guides have an ability to help group members build relationships. The authors cite a story of a peer group leader who conducted a meeting, but 3 days later one of the members had a crucial issue arise. He called her fretting about having to wait another month until the next meeting. She asked him what he wanted to do and he said he’d like to get with a few of the members who he felt might most be able to help him. He asked her if she could help make that meeting happen and she suggested he contact those members directly. The point wasn’t her role, but the member’s need and his ability to forge ahead, even without her (the group leader). The members have a relationship with each other when a smart guide performs well.

A passion for the work

Passionate leaders have an impact on people. Just think about the people, like teachers, who have had the biggest impact on you. We’re attracted to and more deeply engaged by passionate people. We can tell when people love what they do and are really into it.

The group leadership structure

You may tend to think that a peer advisory group leader is at the center of it all, standing in front of or in the middle of the group. But the leaders the authors spoke with said you can’t lead a peer group that way. At least not for very long. The ideal group structure isn’t one that puts the focus on the leader, but where the attention is on the members and their interaction with one another.

Triads

The best smart guides aren’t at the head, but they’re among the group. They’re part of the group. The authors have a diagram of a triad where the smart guide, a member and the group are at the three corners holding the relationship in the middle. Triads become essential for effective communication.

The smart guide insures that the group understands what’s going on and what’s being said. And the smart guide has the back of the relationship.

Everything can’t go through the leader though if the group is going to stay together. Sustaining the group requires a smart guide to help insure that every member and the entire group bear responsibility for holding up their part of the relationship.

Reinforce group norms

The leader can’t be wishy washy. A measure of assertiveness is required to maintain the group norms and insure the group culture is positive – enforcing things like confidentiality and safety. Developing a shared understanding of expectations and responsibilities is an essential part of the smart guide’s responsibility.

Creating an atmosphere for learning

Group meetings can be serious tackling some pretty heavy issues. Smart guides reported the importance of interjecting some fun at times. You may think that business owners or CEOs wouldn’t appreciate it, but that’s not true. This is their time out of the office to work on their business…and to have a bit of fun, too.

Smart guides create different ways to interject fun into their group meetings. One group leader mentioned creating a wall space where group members could hang anything of interest they had come across since the last meeting. They could celebrate their findings together. They also celebrated milestones including birthdays or anniversaries. It brought the group closer together.

Summary

True smart guides lead with a guiding hand of a servant leader. They listen, ask good questions, build camaraderie, consider themselves coaches rather than consultants and wear their passion for the role on their sleeves.

In the next chapter – chapter 7 – armed with the right peers, a safe and confidential environment, and excellent guidance, the authors will explore what’s behind the power of these groups and how peer advantage becomes possible.

Are you a small to medium business owner who finds all this talk of The Peer Advantage intriguing? Then please email me at RandyCantrell [at] BulaNetwork [dot] com. If you can see the value of being surrounded by other business owners who are committed to growing their companies and their leadership, then I’d like to speak with you to learn more about you and your company.

Thanks for listening and next time we’ll tackle chapter 7 entitled, Foster Valuable Interaction.

Subscribe to the podcast

To subscribe, please use the links below:

• Click Here to Subscribe via iTunes
• Click Here to Subscribe via RSS (non-iTunes feed)
• Click Here to Subscribe via Stitcher

If you have a chance, please leave me an honest rating and review on iTunes by clicking Review on iTunes. It’ll help the show rank better in iTunes.

Thank you!

Podcast: Play in new window | Download (Duration: 20:36 — 19.1MB)

Subscribe: Apple Podcasts | Spotify | RSS | More

Chapter 5 is CREATE A SAFE ENVIRONMENT.

Today’s episode is brought to you by THE PEER ADVANTAGE, peer advisory groups by Bula Network. The Peer Advantage is a group of just 7 SMB owners from around the United States coming together regularly by way of an online video conferencing platform. It’s convenient, easy and cost effective. Email me at RandyCantrell [at] BulaNetwork [dot] com if you’d like to learn more.

The chapter begins with the story of two sons who have agreed to a 10 year buyout of the family business from their father. They pay off the debt in 5 years, but dad is still hanging around, drawing a salary, pitting one brother against the other and dragging things out because he’s not ready to let go despite the agreement. The tension between them all is negatively impacting the family and the business. Who can these sons talk with? Where can they go to have a safe, private and confidential conversation about it?

They need to handle this problem or their business and family may implode. But the level of trust involved for the kind of dialogue they need to have requires an environment where each participant can be totally vulnerable yet completely safe. Environments that afford complete safety are rare – nonexistent for many of us.

For these brothers, the safe environment of their peer advisory group offered them the support and encouragement they needed to help them confront their father. When they did, their dad got angry, but a week later he realized they were completely right. He was simply afraid to let go. He stepped away from the business, easing the family tension and giving the sons the freedom to nearly triple sales over the next 24 months.

Fighting off caveman mentality

Vulnerability equaled weakness in caveman days, which resulted in death. So for many people, being vulnerable isn’t a good thing. Brene Brown, author of the book Daring Greatly, talks about the myth of vulnerability. One myth is that vulnerability is weakness. During her research, Brown asked subjects to finish the sentence: “Vulnerability is ___________.” Sample responses included starting a business, having faith and admitting to being afraid of something. Brown says vulnerability sounds like the truth and feels like courage.

It’s about being courageous and telling the truth. Sadly, too many people regard sharing a messy problem, not knowing the answer to a question, or demonstrating a lack of competence in a particular discipline as a sign of weakness, and fear they’ll be judged or ridiculed. Member of a peer advisory group have to learn and understand they can be vulnerable without dying or being judged.

Beyond overcoming our fear of being judged, there’s another challenge to creating a safe environment. There are very few safe places in our society for true vulnerability. We live in a world of constant, almost instant judgment. It’s especially true for CEOs and business owners. Letting your guard down is tough because it requires you to consider that this new environment – the peer advisory group setting – is different from anything you’ve ever experienced before. You may believe when you join such a group that the members are asking you to trust first, then you’ll get trust in return. The good news is the opposite is true. It’s likely during the first meeting that somebody will share a personal story and you’ll quickly realize it’s the first time that member has ever told it out loud. The group is ahead of you. The water is fine.

Group norms

After building trust, people can have faith in the sincerity and depth of other members’ caring. That’s what allows members to effective challenge each other to grow. If you’re a judger instead of a learner, it’s unlikely you’ll feel comfortable in such a group. Learners are ideally suited to benefit from participating in a peer advisory group.

All members of the group comply with the group’s norms. There’s a consensus that confidentiality is critical and key. A dedicated onboarding is essential for exercising your vulnerability muscles.

The value of onboarding

The authors interviewed dozens of peer advisory group leaders to discover the shared best practices for onboarding. The first and most important step is to engage the members as equal. New members feel welcomed as equal partners and now understand they’re part of a group that values them and cares about their personal and professional growth.

Additionally, the new member gets a written profile on each of the other members before the first meeting. These profiles tend to offer more details about the group members than what may have been shared with the new member before joining. Every member will take a few minutes during the first meeting to talk about who they are, how long they’ve been in the group, and the biggest value they’re getting from the group. Group members are also encouraged to reach out to new members outside of the group meeting.

Members are often asked to share stories about their lives and identify any weaknesses they may have. The objective is to inspire questions and invite dialogue. That creates open conversation where members can feel free to share anything they’d like.

To have safety, you have to build trust

Jim Kouzes, author of The Leadership Challenge, says if you want to build trust, everybody needs to feel the same level of vulnerability. One way to accomplish that is through self-disclosure. When members share who they are, where they came from – and go back as far into their childhoods as they’d like – the group learns about who they are as people, and it fosters others to share more about themselves, too. By divulging high points and low points members learn that they’re not so different from one another. It creates more trust.

Vulnerability rewarded

Scot Dietz is “head cheese” (his real title) at 3 Blind Mice Window Covering in San Diego was experiencing gang buster sales. In 2006 he was recognized as the second-fastest growing business in the region by the San Diego Business Journal. That’s when he joined a peer advisory group because despite his success, he believed joining a group would expose him to people who could help him get his business to whole new level. When the recession hit, it impacted Scot’s business hard. He suffered 34% decreases in sales, followed by more decreases. His company was sinking going from a $5.5 million company to a $1.2 million company in the span of just 3 years.

He admitted to his group that he was drowning. He asked his group members if he should file for bankruptcy. The group went further than that. One of the members invited Scot to operate out of a space he and his wife had available – free of charge for six months. They offered to charge him $500 monthly for the 6 months after that, then to raise the rent to market rates following that. Scot went from paying $8000 a month in rent to zero. That allowed him to get his business on track. Today his business is stronger than ever. The group was there for him as he worked his way back. The group’s value to Scot is priceless.

Safety inspires openness

Scot’s problems caused him to open up, not shut down. That made the difference in getting the help he needed from his group.

Issues don’t have sides, they have dimensions that go beyond facts. When members open up there’s greater clarity about the issue. And the group can get to the root of the problem.

The dangers of missteps

Members make mistakes. That’s why the group and its leader try to avoid missteps. An example of a misstep is a member being disrespectful in response to comments from another member. That can cause the disrespected member to shut down and not share in the future. But it can also serve to put other members on guard. If the misstep isn’t addressed immediately, the group dynamic can be forever damaged. Repeated acts of such disrespect to others would necessitate dismissal of that member from the group.

No single member is more important than the group. The authors research revealed that such dismissals are rare. Member of peer advisory groups tend to understand and comply with group culture and norms.

Besides, a single misstep doesn’t necessarily spoil the group, as evidenced by a story Jim Kouzes told about his colleague and co-author Barry Posner. Barry was leading a workshop where he was getting people to do the “trust fall” exercise. In 30 years of doing that they had never seen anybody get hurt. People tend to do what they’re supposed to. One day a participant asked Barry, “Professor Posner, why don’t you do the trust fall?” He’d done it many times before so he told them instead of falling over he would lie on the ground underneath and take a picture of everybody catching each person as they fell. He warned the catchers that if they failed the person would fall right on top of him. Everybody agreed it was a great idea.

So Barry got down on the ground, aimed his camera up at the person standing on the stepladder about 3 or 4 feet off the ground. The participant fell over backward, but for some reason the catcher didn’t catch. The person landed right on Barry. The faller wasn’t hurt but Barry lost his breath momentarily.

People were shocked. Later Barry learned he had cracked a few ribs. The folks in the crowd told him, “We bet you don’t ever do that again.” After a minute Barry said, “Actually, I will. I think this has taught us something very important. There are really just two rules when it comes to trust. Rule number one is: you have to keep working on trust and never take it for granted. Rule number two is: sometimes trust breaks down. So see rule number one.”

Summary

Being vulnerable is liberating. If you want to get everything you can out of a peer advisory group, or any relationship, regard vulnerability as a strength, not a weakness. According to author Brene Brown, “vulnerability is the birthplace of innovation, creativity and change.”

Chapter 6 will cover the third of the five factors – the role of the group leader and why an effective leader is the lynchpin of peer advantage. That chapter is entitled, Utilize A Smart Guide.

Subscribe to the podcast

To subscribe, please use the links below:

• Click Here to Subscribe via iTunes
• Click Here to Subscribe via RSS (non-iTunes feed)
• Click Here to Subscribe via Stitcher

If you have a chance, please leave me an honest rating and review on iTunes by clicking Review on iTunes. It’ll help the show rank better in iTunes.

Thank you!

Podcast: Play in new window | Download (Duration: 21:34 — 20.0MB)

Subscribe: Apple Podcasts | Spotify | RSS | More

Chapter 4 of THE POWER OF PEERS begins Part 2 of the book, The Five Factors For Peer Advantage. Chapter 4 is on the first of these, “Select The Right Peers.”

Surrounding yourself with the right people is essential to peer advantage. Peer advantage doesn’t come cheaply, but if you’re in the right group where you share strong values, set clear goals and commit yourself to the other members by giving and receiving — there’s no limit to what you can accomplish.

“How will I identify which peers can really help me?” is the question you must ask and answer. You should look beyond mere credentials and titles. Think about how you approach hiring an employee. You look for people who have certain skills, but you’re also critical of how well they’ll fit into your culture. The same thing is true of your peer group. Good groups share a set of beliefs in pursuit of common goals. There are 7 shared beliefs that are essential for a successful group.

The group is smarter than any one individual. 

You may not be the smartest person in the room, but if you’re the boss you may be treated that way. The collective experience in the room is greater than any individual in the room.

You may diminish your team if you always think you have to be the smartest guy in the room. Once you believe in the collective knowledge of the group, you can stop judging and start learning.

Leaders benefit from insightful questions and advice from their peers.

Hard questions can be asked in a group setting. Your fellow members care about your success, but without skin in the game they’re free to ask unfiltered questions, offer impartial advice and share experiences. Great questions and unfettered advice and feedback help members build trust and extend their relationships beyond the group meetings.

Leaders, regardless of industry, share aspirations and challenges. 

Common practices in one industry might be unheard of in another one. Sharing ideas and practices across industries can be powerful for CEOs and business owners.

People prefer to implement their own solutions.

There’s a difference between what you get from a consultant and what you get from a group of peers. Both can be valuable, but when you get recommendations from a consultant you’re left to implement their ideas. When you get insights and experiences from a group of peers you’re challenged to learn from your colleagues and make a commitment to develop and implement your own solutions. CEOs and business owners who own a particular strategy and implement it are more committed to be successful with it.

Success is often the best teacher. 

When something works, you’re more inclined to adopt it or stick with it. Until then you may not trust it.

Success can fuel our willingness to change. Listening to and engaging in a peer group can fuel success when people are open to the strengths found in others.

Peer accountability is a powerful force.

This is a force we all experienced from the time we started school. Teachers understood it, too – what with their carrot and stick approach. Teachers shined a light on the good students while punishing poor behavior. In business, admission of failure to colleagues that you failed them is the toughest admission of all. The respect of your colleagues is your greatest currency. You want to be regarded as somebody will do what they say. It’s a culture of accountability found in a peer group.

Shared beliefs are necessary if the group is going to engage in open and honest exchanges, creating a confidential and safe environment for sharing. If you have what it takes, then you’re on your way to realizing the peer advantage.

Shared goals are also important. What do you want to accomplish? If you want to run marathons you know to surround yourself with others who want the same thing. THE PEER ADVANTAGE by Bula Network is designed to serve SMB owners who want to grow their business and their own lives as business owners. That necessarily means it’s not designed for non-owners, or owners who are satisfied. That’s how we make sure the conversations are congruent with every member of the group.

How will you know if you’re in the right group?

Your group will let you know. By their very nature peer groups provide honest and direct feedback. If you’re apprehensive about your interactions with the group, chances are they’re equally apprehensive about you. Typically, many CEO group leaders will do a 90-day check in with members to see how much value they’re getting – and to give feedback on their participation. Good communication is the glue that holds the group together.

It’s about giving and receiving. 

We can all fall into the trap of thinking we’re giving a lot more than we’re getting. When people embrace a different view – one that recognizes all the benefits we’re getting, as opposed to solely concentrating on what we feel we’re giving – then we can avail ourselves of the benefits of the peer advantage.

If you’re wondering if a peer advisory group is right for you, ask yourself if you believe in the true meaning of the phrase, “It’s better to give than to receive.”

That doesn’t mean you should give more than you receive. It means giving is receiving in more ways than one. In the context of a peer advisory group, if you’re prepared to give 100% of yourself to the group, you’ll get 6, 8, 16 times return from your colleagues – based on the number of members in your group. Each member will, be fully committed to you!

Summary

• A peer group is smarter than any one individual.
• Leaders benefit from insightful questions and impartial advice from their peers.
• People prefer to implement their own solutions. Mostly, we don’t want to be told what to do or how to do it.
• Success is the most effective means for driving positive behavioral change.
• Leaders, regardless of industry sector, share common aspirations and challenges.
• Leaders benefit from learning about industry practices not common to their own business.
• Peer accountability is a powerful force.

The value of your group is negotiated between you and your group members, based on a simple formula: the more you give, the more you receive.

My Calls To Action

1. Seek out one or more people to connect with based on nothing more than what you feel you can do to serve them. No expectation on what you can get, just focus on what you can give.
2. Let these ideas of sharing experiences, insights and expertise resonate with you. Keep thinking about what you can do for others and think about how much value they can offer your life (and your business).
3. If you own a business – it doesn’t matter if you run a business that does $1 million a year or one that does $300 million a year – and you think a small, intimate virtual group that makes participating in a peer advisory group easy and convenient might bring value to YOU, then email me: RandyCantrell [at] BulaNetwork [dot] com.

Next time we’ll dive into Chapter 5 – Create A Safe Environment.

Thanks for listening,

Subscribe to the podcast

To subscribe, please use the links below:

• Click Here to Subscribe via iTunes
• Click Here to Subscribe via RSS (non-iTunes feed)
• Click Here to Subscribe via Stitcher

If you have a chance, please leave me an honest rating and review on iTunes by clicking Review on iTunes. It’ll help the show rank better in iTunes.

Thank you!

Podcast: Play in new window | Download (Duration: 24:07 — 22.3MB)

Subscribe: Apple Podcasts | Spotify | RSS | More

Today let’s talk about chapter 3 of the book, THE POWER OF PEERS by Leon Shapiro and Leo Bottary.

This chapter is entitled – THE PATH TO PEER ADVANTAGE. This chapter is far deeper than the first two so there’s quite a lot to get to. I want you to listen carefully and make some applications so your business can benefit. And I want your life to benefit, too.

We participate in 4 basic methods of peer engagement: connect, network, optimize and accelerate. Mostly we do this simultaneously in a variety of ways.

Connecting and networking are mostly individual pursuits with less structure. Accelerating and optimizing are group efforts the authors call peer advantage, which makes them more strategic and structured.

We use Facebook and Linkedin (among other platforms) to connect and network. When we do this we exchange information, extend our reach by introducing ourselves to more people, we contribute to the conversation, we share a common interest during some given period of time, we rely on a high volume of peers we don’t know, we share with others in an open/unsecure area that lacks safety/privacy and we participate when we want to (it’s optional).

Dean Acosta is an Emmy Award-winning former journalist and press secretary for NASA who has led corporate communication teams at some Fortune 500 companies. Today he’s the global head of corporate communications and media for Phillips 66. He connects in different ways and for different reasons. Dean admits that he doesn’t buy anything online without first checking reviews. From Yelp to Amazon to Open Table Dean and his wife rely on reviews to make their choices. He also uses Facebook to stay connected with his fellow Seton Hall University alums. The Waze app helps him navigate traffic. Social connections serve him daily.

Dean is also a member of professional organizations like the Arthur W. Page Society, a professional association for senior public relations and corporate communications executives. He’s also a member of a group called Page Up where he can participate in a weekly online gathering of questions and answers. He has leveraged this group for his work at Phillips 66.

Dean is like many of us – he’s got many connections across a wide range of areas of his life, professionally and personally. Connecting and staying connected have never been easier.

Networking is about purposeful relationships. When we network we value the power of a personal relationship to achieve individual goals – both our own and the goals of those in the network. When we network we’re seeking out our peers to help us get a job, recruit clients, create business partnerships and more.

When people network we tend to not only exchange information, but work with others to create opportunities. We select peers based on specific, qualifying criteria. When we network we also recommend peers to others based on trust. We work with peers toward achieving a singular goal. By networking we understand there’s a higher degree of expected reciprocity. And we enjoy a moderately safer environment for exposing vulnerability. We also realize that participation is optional when we’re networking.

Networking gets trivialized because people tend to associate it with schmoozing at events or exchanging business cards. Jimmy Fallon credits networking for his rise from struggling stand-up comic to becoming a star on Saturday Night Live, and eventually host of The Tonight Show. He first benefited from the contacts of his agent, which led to auditions for Saturday Night Live. When he got that job he made sure to forge a relationship with the show’s creator, Lorne Michaels. When Conan O’Brien left Late Night, Michaels tapped Fallon for the job. Fallon reached out to Jay Leno for advice. All along the way Fallon was earning respect because he was a good listener and true student of comedy. In February 2014 he was promoted to host The Tonight Show.

Networking is about building relationships with a purpose. There’s a sense of reciprocity and that’s something you earn. It requires us to be selfless in our pursuit of our self-interests.

We need each other. When we put other people ahead of ourselves by helping them…they’re more likely to help us in return. This is so pervasive there are many organizations worldwide dedicated to helping people build their personal networks.

It’s the renewed purpose here behind Bula Network. To serve small to medium business owners with greater connectivity so together we can leverage joint relationships for improving our businesses and our lives. It’s the whole point of THE PEER ADVANTAGE.

There are a variety of organizations across the globe serving leaders and executives. Young Presidents’ Organization (YPO) is one of the more prominent ones. In fact, just a few weeks ago we had Scott Mordell, the CEO of YPO on Leo’s podcast – YEAR OF THE PEER. Click here to watch Leo’s chat with Scott. It’s a terrific conversation.

Social media gives us instant, immediate and convenient connections. It’s less time consuming and less expensive giving us a great compliment to live events. Linkedin CEO Jeff Weiner understands the power of networking. His vision is that all 3 billion of the world’s workers will have a Linkedin profile and that every company, including non-profits, will have one, too. He wants a digital representation of every available job worldwide.

For professionals Linkedin is the place to go for networking. Not only can you have a profile, but you can also share what you care about and find others who care about the same things.

Optimizing growth is the point. Watch the Blue Angels perform and you’re left breathless at their precision and excellence. They achieve that excellence year in, year out with different pilots because of a process they call the debrief – a prime example of optimizing. After every flight – performance or practice – the pilots gather for a debrief session. They review every aspect of the flight, down to the smallest detail. They take turns talking about the errors each of them may have made. They also make firm commitments to the team that those errors will be fixed the next time. The debrief requires an acknowledgement and commitment among peers to get better with every single flight. What happens in those meetings stays in those meetings. Pat Houlahan says it best, “It’s not about who is right, it’s about what is right.”

They start the season practicing flying 45 feet apart and end the season flying in performances just 18 inches apart. Those early debriefs can last 4 hours each time. Eventually they dwindle down to 2 hour sessions and by the time the pilots are flying just 18 inches apart the debriefs are down to 15 minute sessions. Optimizing is about chasing perfection in the pursuit of excellence.

That can happen in business, too. It’s not just for precision flying.

You optimize when you work together in teams to bring excellence to a goal. Here’s what happens when we optimize: we work as part of a committed group to achieve a collective goal, we work in small groups or teams, we engage in an environment that’s moderately safe to share exactly what’s on our mind, we buy into the structure of the group as well as the collective goal and we realize that participation isn’t optional – it’s essential.

People who work together to optimize don’t just participate in the learning process, they drive an overall standard of excellence because they help one another become better! That’s how we accelerate growth.

Industry specific groups can be very valuable. We typically join them because we assume we’ll learn more and get the best advice from people who already understand the nuances of our industry. But there’s a problem. A common practice in one industry may be completely foreign to another. Stepping out of our industry into another one can offer us a perspective to help us achieve something new.

People who accelerate tend to be very particular about surrounding themselves with people who share their passion and determination to achieve a goal. They tend to understand the importance of engaging with peers who have points of view and experiences unlike their own. They’re committed to helping others because that’s how they help themselves. When people are committed to accelerate they also appreciate the unexpected, positive outcomes that are realized in deep discussions. They also value a safe, confidential space where they can share their aspirations and fears. Plus, they accept that participation is mandatory and that members hold each other accountable for what they do inside and outside the group meetings.

And you’ve just heard an ideal definition of THE PEER ADVANTAGE by Bula Network. It’s about accelerating your growth as a business owner so your business grows and so does your life! Visit The Peer Advantage to find out more. You’ll be glad you did.

There’s big value in putting an owner of a manufacturing business in the same environment as the owner of a professional services firm, and the owner of a digital agency and the owner of a custom home builder. By broadening the definition of the word “peer” there’s a diversity that brings high value.

Growth is about getting uncomfortable. I go to the gym every day. Some days I take it easy. I’m not 20 any more so wisdom prevails. But some days I know I have to push myself or I won’t benefit. Growth and improvement demand a degree of being uncomfortable.

Why does the peer advantage work? When peers engage in cycles of learning, sharing, applying and achieving there’s growth. Individually and collectively. Here’s why groups that optimize and accelerate are so effective.

Learning

It’s the 1st stage of the process. Sadly, for too many businesses it’s last.

Learning is about demonstrating the capacity to produce quality results repeatedly. Peer groups foster application of deep learning through collaboration.

Sharing

Peers engage in rich dialogue and also ask hard questions – and challenge each other to tackle complex issues. Peers reinforce and give one another permission to new ways of working.

Applying

Peer groups hold individuals accountable for practicing their craft and fine-tuning new ways of working. This peer-to-peer accountability is essential to the success of application of what’s been (and is still being) learned.

Achieving

Good behaviors replace bad ones. Achieving inspires believing. Believing fuels the hunger to learn and grow. It feeds on itself. It’s about walking the talk.

Those five factors for peer advantage will each get their own chapter, but here they are in quick review.

Select the right peers – it involves surrounding yourself with the right people.

Create a safe environment – deep conversations can best happen when you’re surrounding by people who won’t judge you, but will listen to understand.

Utilize a smart guide – every group needs a leader, somebody expert at facilitating the group’s discussions.

Foster valuable interaction – deep conversations happen by design, not accident.

Be accountable – being a member of a group that optimizes and accelerates well is to be part of a group where members don’t tell you what you should do, you tell them what you plan to do. Group accountability gives peer advantage its punctuation.

Generally, people connect more than they network. They network more than they optimize or accelerate. CEOs and business owners, whose time is extremely valuable, should invest their energy in these peer engagement activities in the opposite order. They should accelerate, optimize, network and connect.

Invest your time where you get the biggest value. Ask any high achieving, high performing business owner or CEO in a group. Peers will broaden and deepen your knowledge while helping you lead your company more effectively.

Subscribe to the podcast

To subscribe, please use the links below:

• Click Here to Subscribe via iTunes
• Click Here to Subscribe via RSS (non-iTunes feed)
• Click Here to Subscribe via Stitcher

If you have a chance, please leave me an honest rating and review on iTunes by clicking Review on iTunes. It’ll help the show rank better in iTunes.

Thank you!

Podcast: Play in new window | Download (Duration: 18:42 — 17.4MB)

Subscribe: Apple Podcasts | Spotify | RSS | More

Today we’re going to summarize chapter 2 of THE POWER OF PEERS by Leon Shapiro and Leo Bottary. This chapter is entitled, “The Pervasive Nature Of Peer Influence.”

Birds of a feather flock together. We’re all in the same boat. Great minds think alike.

We have a number of phrases and sayings that speak to the significance of peer influence. Bruce Cleland and his wife, Izzi, found out their 2-year-old daughter had leukemia. The survival rate was 55%. Bruce immersed himself into the world of blood cancer treatments, which led to a deep involvement with the Leukemia & Lymphoma Society. Two years later, Bruce’s daughter was in remission.

To honor his daughter and show his appreciation to the Leukemia & Lymphoma Society he rallied 38 people to run the New York City Marathon to raise money. With a few corporate sponsors (but mostly through individual donations), Bruce was able to raise $322,000. That was only after spending 5 months training and preparing. The group gathered regularly at a local restaurant or bar to compare notes and talk about their progress. Everybody was committed to the group and the cause. Because of that mutual support the group succeeded.

That 38-member team was just a start. That was the beginning of a successful endurance-sport fundraising program which came to be Team In Training, inspiring over 650,000 participants to achieve their goals and raise $1.3 billion for blood cancer research. That survival rate of 55% is 95% today!

Together anything is possible.

It Starts When We’re Young

Our folks knew the power of peer influence. That’s why they always wanted to know who we’d be with when we left the house. It’s why they wanted to know our friends.

In 2005 Gary Ladd, a professor of psychology and human development at Arizona State University, published a book, “Children’s Peer Relations And Social Competence: A Century Of Progress.” Peer relations are more balanced than parent-child relations. As children we’re largely influenced by these relationships.

Considerable research has proven that our level of self-confidence and self-efficacy is largely determined by peer influence. As we interact with our peers we learn things about others and ourselves that serve us with greater confidence.

Our peers also hold us accountable. Teachers threaten to punish the entire class if one class clown continues to disrupt the class. They do it because it works. We would all sit there thinking how unfair that would be, but the pressure on the evil doer to be held accountable to the entire class changed the dynamic of their behavior. Hopefully.

Peer influence drives learning. Lecturing is giving way to facilitating where students are more engaged.

1. Students engage as colleagues not competitors. There are many benefits to collaboration and a sense of abundance.
2. Students learn the value of dialogue. Dialogue trumps debate or discussion, providing students with richer and more meaningful conversations.
3. Students learn to trust one another. Sharing and listening without fear of being judged builds trust. That allows for deeper, more honest conversations.
4. Students get a taste of what abundance looks like. Students know that no matter how much they contribute to the group, they’ll always get more in return – and as they do, the group grows stronger.

Peer influence happens in the workplace, too. The Handbook Of Interpersonal Communication (by Knapp and Daley) defines peer relationships as “relationships between co-workers at the same hierarchical level with no formal authority over one another.” Peers serve as important sources of intellectual and emotional support.

The boss says something in a meeting, then the employees begin to talk about it. According to the book Seeing Red Cars by Laura Goodrich, they’re trying to make sense of it, but too frequently it results in people making assumptions and engaging in banter that doesn’t have much to do with taking action.

Author Ken Blanchard notes that up to 70% of all organizational initiatives fail. Leaders can’t impose their will, but they can create conditions that allow employees to make the organization successful and achieve those strategic goals more often.

Edelman Trust Barometer has tracked public trust in institutions for the past 15 years. In 2015 the barometer showed a decline in trust levels across the board. When we don’t trust our institutions, or government – we turn to each other. To our peers.

In 2003 Fred Reichheld, a partner at Bain & Company, created the Net Promoter Score (NPS). It’s determined by answering the ultimate question:

On a zero to ten scale, how likely is it that you would recommend us (or this produce/service/brand) to a friend or colleague?

The real power is found in our willingness to listen to our peers.

This influence isn’t always conscious. Are you a Mac person or a PC person? It’s more than technology. It’s community and you likely relate to one or the other. And if you relate to one, then you don’t relate to the other. At least not as much.

A study of buskers in a New York City subway showed that when people saw others giving money to the busker, they were eight times more likely to contribute than those who didn’t see other people contributing. As a lifelong retailer I can attest to the power of peers during a storewide sale. When shoppers see others pressing around the cashier counter making purchases they’re positively influenced to make a purchase themselves.

We have a yearning to be part of a community. Peer influence impacts that, even if we’re not consciously thinking about it. And it crosses all cultures.

The degree and how its manifested can differ from country to country, society to society – but the concepts and foundation are the same anywhere you go.

The power of peers is word of mouth at scale. We’re less inclined to trust institutional experts than the opinions and experiences of peers we’ve never met. We jump on Twitter and Yelp and listen to what others have to say. So powerful is this influence that in 2006 Time magazine name “YOU” as the person of the year.

Amazon, Linkedin, GlassDoor and many other online communities leverage the power of peers. We find ourselves collaborating through these communities. Even as members come and go, the communities remain strong.

Peer influence impacts winning. One of the most extraordinary examples of this is the women’s basketball team at the University of Connecticut. In 2015 the team won their 10th national title in 20 years. What makes them so dominant? Their head coach, Geno Auriemma, suggests it’s culture and having highly competitive players who are committed to each other. Players see other high-level players making sacrifices for the team. It influences all members of the team to put the team ahead of their own personal goals.

Having the support of a team is powerful no matter if you’re running your first marathon to raise money for a cause or if you’re part of a national title team of basketball players. At home, in school, at work or in sports – peers matter. Sometimes their influence is right up front, easily seen. Other times, it’s subtle and we don’t even recognize it. Peer influence doesn’t care if you’re the CEO or business owner because no matter where people work, or go to school, peer influence happens in person and online.

Your peers are critical to your success and happiness. They include everybody from those colleagues you see every day to perfect strangers who share a common interest (even if it’s just for a moment in time).

Conclusion

I hope you’re beginning to more clearly see the power of peers. Mostly, I hope you’re beginning to see how powerful it can be to help you grow your business and your life.

I’m working to help improve the business and lives of just 14 business owners to join me as I facilitate the charter groups of THE PEER ADVANTAGE.

Subscribe to the podcast

To subscribe, please use the links below:

• Click Here to Subscribe via iTunes
• Click Here to Subscribe via RSS (non-iTunes feed)
• Click Here to Subscribe via Stitcher

If you have a chance, please leave me an honest rating and review on iTunes by clicking Review on iTunes. It’ll help the show rank better in iTunes.

Thank you!