There are substantial benefits of small-group coaching such as Entrepreneurs Group and E Group for Start-Ups. There are powerful learning interactions among leaders of small businesses who are connected by their business struggles, need for success, sincere desire to help others, and similar business experience and position. Bringing them together for problem-solving, accountability, learning, and support there are several benefits:
- Group Dynamics: Running a business is not a 1:1 experience. By being in a peer group, you are immersed in real-time group dynamics and can witness and experience your impact in a group setting.
- Feedback Loop: The group members create a safe, transparent, and confidential feedback loop with each other. The members have different personalities, experience, needs, and goals. They see the world differently which brings a rich perspective into opportunities and issues that a member may have. Those differences bring a richer insight into your decision-making process when faced with an opportunity or challenge. This also helps you see your blind spots.
- Safe Space: The peer group setting can enhance valuable leadership skills, including listening, being vulnerable, getting comfortable with others’ perspectives and emotions, asking insightful questions, giving and getting direct feedback, and helping people find their own solutions. Many of these skills will directly relate to your learning objectives, and you’ll become better at coaching, motivating, and developing people.
- Accountability: Left to your own devices, accountability can be a challenge. Being held accountable to goals through the eyes of your peers can help you realize success at a faster and more consistent pace. Those social forces that are operating within the group have a powerful impact on your achievement.
- Trust and Support: Building an organization on trust is the rock by which a successful company must rest upon. Peer groups give you that environment to reveal your doubts, vulnerabilities, and weaknesses.
- Being Generous: Being a small business or solo can create the “ME” mentality. A peer group reminds you that you are not alone. Do not go it alone. You cannot build your company alone. Helping others in a collaborative space is a model by which you can build your company on.
Peer coaching generates exponentially more benefits than 1:1 coaching can provide. The wisdom, skills, and knowledge you will gain will pay you off for years to come.