Meghann Conter
Birds of a feather should flock together. We should all get in the same boat. Great minds should think alike.
These are some of the insights shared with me by two Vistage International leaders, Leon Shapiro and Leo Bottary, when I sat down and interviewed them about their 2016 book, The Power of Peers.
While just figures of speech to some, the authors said they reflect a simple yet profound truth: it's the company we keep that often determines personal growth and professional success.
While Vistage is the largest CEO peer-to-peer group (for full disclosure I was a member and they have hired me to deliver more than 40 workshops to member groups around the country), it is not the only game around.
Is there a specialized peer-to-peer group that’s right for you?
“There's incredible power in surrounding yourself with peers who truly understand your world, have walked your path, and are eager to show up as both your teacher and your student,” says Danyel Newcom McLellan, president of the Agency Management Institute, which serves small to midsized advertising and digital marketing agencies.
“By limiting participation to other agency owners, we can ensure that the conversations are always relevant, deep, and actionable,” says McLellan. “Profit margins in our industry average around 6% but because of the laser-focused lessons and learning, our peer group members earn an average of 18% profit or better, year over year.”
The world of dentistry is as stressful, confusing, and demanding as it is fulfilling and rewarding, says one dental peer-to-peer leader.
“When we get together in my On the Ride mastermind, young dentists not only realize that they are not alone, but also become enabled to come up with new ideas and mutual support, says Alan Stern, DDS. “Facilitating these groups has not only been a source of great joy for me, but also a source of strength and prosperity for our group members.”
Meghann Conter, CEO and founder of The Dames, created her peer-to-peer group when she discovered a startling statistic back in 2015.
“Only 2% of all women-led businesses achieve a seven-figure annual revenue,” says Conter. “Depending on the state, in the US, only 10 to 15% of women-led businesses make it to six-figures.”
The Dames website says it is an incubator for the greatness of women running and leading six, seven and eight figure businesses. It was also the first international group of its kind. Most members are from America or Canada, but there are also members on four other continents.
Conter recommends the following steps when researching a high-level business owner peer-to-peer group.
Step One: Before you start looking or shopping for a new group, determine your networking goal or strategic intent. Are you joining a group to meet thought partners, collaborate, or to cross-promote? Are you wanting to participate to find a new job or perhaps a paid board position? In order to choose a group, you want to be clear on your own goals or strategic intentions.
Step Two: Ask the organizer or leader who specifically are the members of this group? What makes the members unique and different? “Listen carefully for how they answer,” says Conter.
Step Three: Ask the organizer or leader what support is offered. What type of introductions or structure is provided to make sure you meet the right people in this group? How should you invest your time wisely to get the results you desire?
Step Four: If you like the answers and decide to attend a meeting, share your goals or strategic intentions with the leader. Ask the leader to introduce you to some people who fit your criteria. This helps you work toward your goals, by participating consistently and with focus. Ask a current member, who is also a center of influence whom you admire, why they are choosing to participate in this group and what is the biggest benefit they are getting from it?
Step Five: Consider not just the group’s criteria to join, but its culture. Each networking community has one, whether it’s created intentionally or by accident. “Ours is a culture of fun, reciprocity, and radical collaboration,” says Conter.
Conter has a bottom-line recommendation. “Whatever your networking goal, commitment and consistency are key. If your plan is to join a community for two months, to see ‘how it goes,’ and then leave if you don’t get results, don’t bother joining. It’s rude to your fellow community members and it does nothing for you as a professional. You don’t get married on your first or second date; professional relationship building is no different. It takes commitment and consistency.”
