Accountability to each other really works

Rick Spence, Financial Post  Published: Tuesday, July 28, 2009

How do entrepreneurs learn from each other? And how do you get them to do the things they want to do, and need to do, but never seem to find time for?

Last week’s column focused on one answer to those questions: peer advisory boards. These are confidential forums in which owners of non-competitive businesses meet regularly through a trusted facilitator to share problems, explore solutions and encourage each other to keep going.

Last week, I told you how I was invited to sit in on the meeting of one such group, an Oakville, Ont., chapter of The Alternative Board, a Colorado-based group that manages peer boards across Canada and the United States. Although these meetings are strictly confidential, I was allowed to observe the process on behalf of the Financial Post as long as I didn’t name names.

The first hour involved basic leadership coaching and member updates. After that, things got serious. Facilitator John Womack (the only participant I’m allowed to name) asked his members what progress they had made in the business plans they’ve been working on for the past month.

Howard looks guilty: His plan called for a 10% sales increase for this year. So far, he’s been struggling just to stay even. He’s been working on introducing some new products, but the launch has been delayed. And he’s been meaning to work with his partners to complete a shareholder’s agreement, but no one has had time to sit down and get ‘er done.

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