The Power of Membership
Welcome to Business Leader. The place where successful leaders come together to turn their medium sized companies into giants. Sound ambitious?
It should.
It's a unique path that CEOs and founders walk. Tasked with building and sustaining their organisations, it takes a distinct personality and skill set to navigate the business world. To be able to lead but also be flexible enough to identify problems and respond accordingly. But for those leading mid-sized organisations, there’s an alarming lack of support. Where do founders get the insights and advice to help them navigate their roles? Who do they share their personal and professional struggles with? Because let’s face it, it’s not uncommon for the two to merge (with their work lives often following leaders into their homes).
The UK has a great track-record of starting companies, but massively underperforms when it comes to turning them into large ones – there are currently 110,000 medium-sized businesses in the UK and only 7,500 large ones – which leaves leaders of mid-sized companies with few places to turn for help.
It’s no secret that business leaders are isolated – the phrase “it’s lonely at the top” is ubiquitous for a reason. And there are many factors at play that keep business leaders feeling like this. With leadership positions comes an increase in responsibility, bringing with it high levels of pressure and priorities. Leading a business is akin to a high-stakes game, where successes and mistakes are highly visible, and can have dire consequences - from losing one’s job, to causing employees to lose theirs.
It’s not just the pressure that causes isolation. Simply being positioned at the top of the chain often causes those occupying these seats to self-isolate. For most people in the workplace, spending time with fellow employees is a given. Leaders on the other hand, are often siloed, with informal interactions limited due to their positions. As authority figures, the power dynamic demands a shift in outlook, which can make it difficult to relate to team members on a personal level.
And it’s more than a social issue. An increasing number of studies are revealing that loneliness amongst leadership isn’t just another conversation point – it can actively hinder performance, decreasing motivation and leading to a lack of productivity.
That's where we come in. We’re building a one-of-a-kind, peer-to-peer membership dedicated to providing CEOs and founders with the support network they need to truly thrive.
Each member is placed into smaller forums with nine other founders and CEOs, to build the intimate relationships that provide the support they need. All members are heading up organisations with an annual turnover of ￡3million, but most importantly have a high-growth mindset. We believe it’s the mindset that predicts the trajectory of a business leaders' career - and in these forums it ensures that fellow members have access to the right level of expertise. Within these groups, common pain points become clearer, and advice can be tailored towards everyone individually.
In the US, the practice of peer-to-peer forums is far more widespread, bolstered by a culture of communication and collaboration. There’s a readiness amongst businesspeople to meet and discuss their businesses with each other and an openness to proclaiming their wins. In contrast, the culture of modesty in Britain often means that when businesspeople do meet, it’s more likely that the conversation will centre anything except business.
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Creating community is how individuals thrive. Human beings are an innately social species, so it’s no exaggeration to call it unnatural to walk such a unique and challenging path alone. Community not only fosters a sense of belonging and wellbeing, but from a business perspective it’s essential to have others to learn from.
While the path of each entrepreneur, founder or CEO will differ to a certain degree, there are common identifiers that everyone can relate to. From finding customers and clients, to building high-performing teams, the foundation of any solid business is built upon the same core concepts.
And who better to talk to than your peers? In a community like ours, someone has either gone through the storm and are ready to share what they’ve learnt with others, or they’re in the midst of it, and need an experienced and empathetic sounding board.
The world of business can be ruthless. It’s easy feel as though you’re in competition with aggressively ambitious players who are all awaiting your downfall. The personality of high-achieving leader requires the self-confidence to pursue one's goals and the grit to push through adversity. But working in such a competitive climate creates emotional tension, forcing leaders to wear a public face of strength and confidence when behind closed doors problems may be brewing. This emotional tension is compounded when there’s a lack of intimate spaces to share wins and losses and receive support without judgement.
That’s why building a support network is crucial for leaders at any stage of their career. The exchange of fresh ideas and inspiration can be the step that transforms your business. And a new idea for some, might be something that’s already been tried and tested by those before you. Take our founder Richard Harpin as an example. In his 8 Secrets to building a ￡billion business, Richard discusses the important step of hiring your replacement. He notes that for any successful business, there comes a time when founders must take a step back and hire someone who can take their business to the next level. But when is the right time to do this? Are there signs/indicators that can help leaders to discern the right timing, or will they always go in blind? Finding answers to questions like these is why getting in a room with your peers and having meaningful discussions is so important. And that’s just one reason of eight. Richard describes his Secrets as the eight things he wishes he’d known when he first started out and details how they would have helped him “avoid mistakes”, saving him time, money and energy.
And at the heart of these is community.
It can be difficult to admit to feelings of loneliness. But it’s incredibly common amongst business leaders. And while loneliness may feel insurmountable, it also signals the potential for growth and new possibilities [Ami Rokach 2014 ]. What we need now are solutions. In our recent conversation with Eventbrite CEO Julia Hartz, she described how giving her leadership team shared ownership helped her to combat these feelings of loneliness. A problem shared is a problem halved. Identifying these feelings is the first step to making a change.
Each month, we hold a free Growth Workshop, designed to bring growth-minded business leaders from across the country into the same room. These workshops are a chance to hear Richard’s story in person, but most importantly they’re an opportunity to hear from and network with your peers. We’ve heard from some of our attendees that these small group meetings have been their first opportunity to have meaningful conversations with their peers and they’ve all walked away saying the same thing. "I’m not alone."
The UK business landscape needs big changes if we’re going to catch up with our counterparts overseas. And building community is the first step.