What is a peer founders group?
A peer founders group is essentially a group of Founders who come together to support each other achieve success in their life and businesses. These groups are usually very high-paced and excited, willing to listen and learn from each other. They are especially helpful to Founders who are more honest and leave their ego at the door when attending the group sessions. So why should Founders join these groups?
5 Reasons Why You Should Join A Peer Founders Group
Reason #1: Instil a greater sense of accountability into the company
Most peer founders groups have a way of recording key metrics to help keep Founders accountable. It is often easy to come up with ideas and goals on what a Founder thinks their business can achieve. However, actually achieving that goal and pushing a Founder’s business into that direction is so much harder than that.
Through these groups, the Founder is kept accountable for his goals and achievements. The sheer understanding that you had not kept to the goal you set for yourself is usually strong enough to give the Founder that extra push to achieve new heights.
Reason #2: Success is a Lonely Road
Everyone knows the story of the Lonely Founder. “I carry a burden that no one else understands”. “None of my family or friends are CEO’s. I don’t have anyone to talk to.” “There’s a lot of stuff I want to talk about, but it’s not appropriate to discuss- not even with my executive team.”
The road to success is often a lonely one, especially for Founders and CEOs. However, there are also many other Founders on the same journey! Through a peer founders group, Founders are finally able to be honest and have discussions with other like-minded individuals who understand the struggles of being the founder/CEO of a company.
Peer founders groups essentially provide a platform for Founders and CEOs alike to discuss ideas and problems, which otherwise would not be debated at all.
Reason #3: Create networking opportunities and build long lasting relationships
Peer founders groups provide vast networking opportunities and relationship building between different Founders. There is no better way to create relationships than with human interaction and through peer founders groups, Founders are able to talk directly to one another to create opportunities and add value to their companies. Furthermore, these relationships are usually long-lasting and can propose ample opportunities and value for years to come.
Reason #4: Diverse knowledge/ Problem solving
One of the biggest reasons why Founders join peer founders groups is the diverse range of knowledge that they gain access to. Founders come from different backgrounds and have different skill sets. This allows Founders in the peer founders groups to be able to gain a different insight or technical knowledge to solve their problems. This is the reason why problem solving sessions are usually so popular in peer founder groups.
Most importantly, Founders from later stages usually are experiencing or have experienced some of the problems that earlier stages are currently experiencing. This allows for an expert sharing session where Founders are able to understand their problem from the perspective of Founders who have already faced that very problem.
Reason #5: Growing the right qualities and personality
The peer founders group discussions are extremely fast-paced and highly engaging. Founders are usually very excited about sharing their ideas and tackling big issues together. This allows for open discussions where the person asking a question gets a highly qualified sounding board to better understand their problems and look for intelligent solutions to said problem.
Founders are also able to take inspiration from one another, and learn new ways of thinking about a certain topic. All of this combined, Founders are able to develop their own leadership and problem-solving qualities to better handle their own businesses.
Reason# 6: Gain guidance from top mentors
Most peer founders groups have top mentors accompanying them. This allows Founders to get guidance from real, experienced mentors that have been through the entire journey of starting and exiting a business. Mentors are therefore also usually the most emphatic and understanding people to seek advice from and chair a peer founders group.
The reason being they are one of the only people who truly understand the struggle and hardship of Founders. This is especially true with NEXEA’s Entrepreneurs Programme: https://academy.nexea.co/entrepreneurs-programme/.