What is a Vistage Peer Group and Why Should You be Involved?
Imagine a great baseball team. It’s made up of top-notch hitters and has an amazing pitcher. But the pitcher isn’t a leading hitter, and the hitters would be underwhelming pitchers – and that’s OK. On sports teams, each player has their own unique role and together, they create something incredible. It’s the same in business. Good people with individual — if diverse — talents comprise great teams. And that’s what a Vistage peer group creates.
A Vistage peer group is a mutually selected community of partners who join together to form a lifelong learning environment where each helps the others by providing the unique expertise they have to offer. A Vistage peer group brings together leaders from a diverse array of industries and complexities to discuss problems, brainstorm solutions, plan a course of actions and drive results.
Classes and Categories
Business development happens across many spectrums at once; as such, there are several different kinds of peer groups, each with a specific purpose.
- Community or Economic Growth Peer Groups: These generally comprise members who share common economic goals in the same or similar geographical areas. These groups can be effective ways of communicating ideas for a general community or setting social or political plans into action.
- Industry-Type Peer Groups: These bring together members who share a common background to discuss and solve problems. While these groups present an opportunity to develop contacts and expand knowledge in one’s field, they can short-circuit creative problem solving, since so many of the participants approach issues with the same general set of background experiences.
- Executive-Level Vistage Peer Groups: Vistage offers members the opportunity to find out-of-the-box solutions by learning the perspective of other members. Often, a member outside the specified field can devise a more innovative way of solving familiar problems. An executive-level peer group brings together executives who have broken through different performance plateaus who are willing to share anecdotes, advice and coaching to assist other members with ideas and action plans. The members also hold one another accountable to follow through with these plans. That is the essence of the peer group—not only does the group provide solutions to the business owner or CEO; it requires that they fulfill their obligations to the group.
Vistage’s tried-and-true commitment to accountability – both for results and deadlines – drives positive change for business owners and leaders. The opportunity to learn from peers who have already weathered their own organizational storms provides invaluable learning opportunities to avoid mistakes, overcome challenges and stay motivated to accomplish long-term goals. No matter which type of peer group, Vistage members are committed, ambitious, and willing to share their experience to help one another achieve new successes.