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The Leading Edge: Using Private Peer-to-Peer “Roundtable” Groups to Grow Your Business

Academic research on private peer-to-peer “Roundtable” is relatively new (q.v., Rogers, Michael, and Bhatti, Saleem, “Private Peer-to-Peer Networks,” Handbook of Peer-to-Peer Networking, Springer Science+Business Media, LLC, 2010). There is, however, a long list of research in the area of behavioral and social psychology which has track and identified key characteristics of peer-to-peer dynamics. One of the first practical uses of this research surfaced in the therapy-related applications. Today, it is common to see group therapy applied to any number of medical and psychological conditions and ailments. (Here’s just one example: “Section 2. Creating and Facilitating Peer Support Groups” adapted in part from The Self-Help Leader’s Handbook: Leading Effective Meetings by Adrienne Paine-Andrews, Yolanda Suarez-Balcazar, Stephen B. Fawcett, and Leslie Borck Jameson, with the collaboration of Melody G. Embree, published by the Research and Training Center on Independent Living at the University of Kansas.)

Many national-based volunteer organizations utilize locally-based peer-to-peer groups to provide ongoing training and help. The Boy Scouts of America is one such group. At the local (“District”) level, each Council offers a monthly “Roundtable” for its adult leaders. According to the Boy Scouts, “Roundtables play a significant role in providing continuous supplemental training for unit leaders. This monthly event provides program topic guidance and structure suggestions for unit leaders.”

Such coordinated groups are much more difficult to create and maintain for the business community. One reason is that most models are based on the local level, often sponsored by the local Chamber of Commerce or similar general business group. The disadvantage of this is that there is often a restriction from having more than one business in any particular industry within such groups. This means there’s no critical mass of similar businesses with similar problem where a private peer-to-peer group can offer the most help.

Local chapters of national associations can sometimes offer private peer-to-peer groups, but oftentimes present the disadvantage of “lack of exclusion.” Specifically, such associations, given their modest dues structure, represent the first choice for businesses with sustainability issues. These kinds of businesses (which include start-ups) need to focus on maintain a threshold of profitability; thus, cannot focus on the higher order concerns more successful businesses must address.

According to Richard Millington, author of Buzzing Communities: How to Build Bigger, Better, and More Active Online Communities, (FeverBee, 2012), the key factors of building and maintaining an ongoing private peer-to-peer group include:

  • Creating a boundary
  • Identifying common similarities and common enemies
  • Adopting regular and consistent practices
  • Meeting in the same place on the same day at the same time.
  • Sharing unique experiences
  • Initiating deeper discussions
  • Encouraging self-disclosure

By asking members about their experience and expertise, private peer-to-peer groups offer an excellent:

  • Opportunity to discuss business practice issues with others like me
  • Chance to get preferred attention to my business needs
  • Ability to share interesting articles from any source

It’s important to keep groups small, so member can confident maintain power and influence within the group. This allows members to make sure meeting agendas stay relevant and on-point. In practical terms, Millington suggests the maximum number in any one group should be fifteen. He says “The only people that participate in a community are people who think they can influence that group” In terms of critical mass to start, a group must include at least seven members.

Are you interested in learning more about private peer-to-peer groups? Email ccarosa@FiduciaryNews.com to let us know you’re interested.

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