Businesses Prosper Through Peer Advice

Since the 2008-2009 stock market collapse, some business owners nevertheless have managed to grow profits and thrive. What is their secret, and how have they managed to beat the odds even in tough times?

The secret is in the advice these business owners receive from their peers for suggested solutions to the challenges confronting them. Business owners worldwide are finding that the best advice often comes from their peers — other business owners who have faced similar experiences and developed real-world strategies to sustain or expand their businesses.

One organization that offers these types of resources to business owners is The Alternative Board (TAB), which builds boards of non-competing business with average revenues of $1 million to $100 million where owners meet monthly to tap into the wealth of experience and insight their peers bring to the table. Each peer advisory board is typically composed of up to 10 business owners, CEOs and presidents.

According to a recent survey conducted by The Alternative Board of 300 small business owners, 60 percent of those who made a profit in 2011 were TAB members — or 1.5 times greater than non-TAB members. The same study further noted that 67 percent of TAB members trust advice from their board versus only 29 percent for non-TAB members, or more than two times greater.

This peer think-tank format has been successful for tens of thousands of business owners globally since 1990.

TAB facilitator/coaches help business owners shift from tactical to strategic leadership. TAB tools include a gap-analysis tool to reorient priorities and resources to the most important business areas, a personal and company vision tool to ensure dreams are captured, and a strategic business leadership tool that provides a detailed roadmap for achieving each vision through establishment of goals, strategies and action plans.

—More info: www.TheAlternativeBoard.com.

Since the 2008-2009 stock market collapse, some business owners nevertheless have managed to grow profits and thrive. What is their secret, and how have they managed to beat the odds even in tough times?

The secret is in the advice these business owners receive from their peers for suggested solutions to the challenges confronting them. Business owners worldwide are finding that the best advice often comes from their peers — other business owners who have faced similar experiences and developed real-world strategies to sustain or expand their businesses.

One organization that offers these types of resources to business owners is The Alternative Board (TAB), which builds boards of non-competing business with average revenues of $1 million to $100 million where owners meet monthly to tap into the wealth of experience and insight their peers bring to the table. Each peer advisory board is typically composed of up to 10 business owners, CEOs and presidents.

According to a recent survey conducted by The Alternative Board of 300 small business owners, 60 percent of those who made a profit in 2011 were TAB members — or 1.5 times greater than non-TAB members. The same study further noted that 67 percent of TAB members trust advice from their board versus only 29 percent for non-TAB members, or more than two times greater.

This peer think-tank format has been successful for tens of thousands of business owners globally since 1990.

TAB facilitator/coaches help business owners shift from tactical to strategic leadership. TAB tools include a gap-analysis tool to reorient priorities and resources to the most important business areas, a personal and company vision tool to ensure dreams are captured, and a strategic business leadership tool that provides a detailed roadmap for achieving each vision through establishment of goals, strategies and action plans.

—More info: www.TheAlternativeBoard.com.

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