How to Tell if You’re Ready for a Peer Advisory Group

One of the best advances in business in recent years is the increasing attention given to leadership development. Executives are more likely than ever to search out coaches, mentors, and peer advisory groups to help accelerate their professional and personal growth, as well as to invest in meaningful experiences for the rising stars within their organizations.

Given the interest in such opportunities and my experience as a Vistage Chair for nearly a decade, I often get questions from people who are considering a peer advisory group but aren’t sure if it will be a good fit.

It’s a more difficult question than it used to be. There was a time when an organization like Vistage was only for CEOs or senior leaders at companies with substantial revenues. Today, there are groups for professionals at nearly every stage of their careers. And while company size and trajectory does matter, the business isn’t the most important factor. You are.?

So how can you tell if you’ve reached the point at which a peer advisory group can deliver value? Based on my experience interviewing members and watching how they later benefited from Vistage, I’ve found the following five traits to be most important.?

#1 You’re ready to go from good to great.

A peer advisory group isn’t a turnaround service. Very troubled companies typically need concerted, hands-on effort of a type our monthly meeting cannot supply. And frankly, leaders facing potential dissolution aren’t in a position to spend the time examining the types of issues we work on or to invest in their peers’ success. On the other hand, if your business is stable but not growing as fast as you’d like, if you face serious challenges and threats you need to work through, or if you’re putting in more hours than you’d prefer without seeing the results you’d envisioned, Vistage is a great tool to help you meet your goals by working smarter, not harder.?

#2 You’re committed to giving back

Do you participate in charities or volunteer work? Are you mentoring anyone? Do you consider yourself a servant leader? These are signs (and not the only ones) that you’d be an asset to a peer advisory group. The structure ensures that every member gets the chance to process their issues and opportunities, gains one-to-one coaching, and accesses expert speakers and other resources. These are among the reasons companies headed by Vistage members grow 2.2 times faster than the competition. The flip side, however, is that not every moment of a peer advisory group meeting will be about you. Your peers will expect you to invest as much attention in their concerns and give them as much support as they give you.?

#3 You’re curious.

Peer advisory groups work best when we really dig into things. In many ways, the experience isn’t about the answers and solutions—although you can expect some “aha!” moments—it’s about the questions. I seek out curious individuals who don’t settle for the first response or the easy answer. My groups are filled with people who feel compelled to probe a little further and learn a little more, people whose inquisitiveness is difficult to satiate.?

#4 You’re smart but willing to be vulnerable.?

Individuals who have risen in a business or driven success for companies they’ve founded are bound to be bright. I’m sure you have that criteria covered. But do you need to feel like the smartest person in the room and prove it to those around you? If so, stay away from peer advisory groups. We’re interested in members who are confident enough in their own capabilities to be vulnerable in confronting their weaknesses, fears, challenges, and opportunities for improvement. In our first one-to-one coaching session, I guarantee that I will ask you some uncomfortable questions, so it’s important to come ready to get into your issues.

#5 You’re personable and want to have fun.

This is a coaching group and we rely on each member’s interpersonal abilities and emotional intelligence. You needn’t be the class clown. You needn’t be an extrovert, either—the shy, the reserved, the ones who think before they speak are all welcome. But you do need to see value in other people and be able to relate to them. Although we won’t allow members to dodge every tough moment with a joke, some levity is absolutely welcome, too. The monthly meetings must be occasions members look forward to and we’re determined to make them fun.

The Relationship Goes Both Ways

So far, I’ve talked about what a Chair is looking for in a peer advisory group member, but prospects should conduct the same due diligence regarding any group they may join. What approach does the Chair take and does it resonate with you??

Anyone in the Reno area who might be interested in one of my groups should feel free to contact me on LinkedIn or at [email protected] to schedule a chat. I can learn more about you and also share my background and perspective, and we can see where things go.

As a general statement about my role as a Chair, though, I’d compare it to my time managing television stations. No one pays attention to the program manager—the audience watches the programs on screen. I feel the same way about my peer advisory groups. Members shouldn’t notice me; they should focus on their peers. My job is to remain behind the scenes and provide the structure and occasional question to make sure our “program” goes off without a hitch.

I’ve noticed similar traits in numerous other Vistage Chairs over the years, so even if you don’t live near Reno, I’m confident you can find a peer advisory group that’s right for you. Good luck!