In today’s fast-paced, ever changing market filled with fickle consumers and challenging economic trends, business leaders can no longer rely on past educational experiences to get them through. It’s not enough to be smart or educated; today’s market demands an ongoing, real-time, strategic infusion of knowledge and experience.

The problem for most business owners though, is where to get that learning. For strategies, real world experience and specific issue guidance, CEOs are often at a loss because many are stuck in the perception that they must have, or at least appear to have, all the answers.

Barbara Osterman, president of Pittsford-based Human Solutions, LLC, says it reminds her of her executive days in the telecom industry. "As an executive I was told to change but I wasn’t given a lot of support or direction," adding that this is a holdover from the old paradigm where once you get to the top, you’re expected to know everything. To change this, Ostermans states, "We need to let leaders learn and give them forums to do that where it is really practical and applicable."

Who Leads the Leaders?

Osterman, whose business is focused on helping executives identify and implement fundamental change goals, says roundtables are a growing part of her business. The basic idea, she states, is that, "leaders across organizations come together around their own leadership development." But before you consider your Saturday pre-golf breakfast the equivalent, Osterman cautions that roundtables are not conceptual or learning for the sake of learning. They need to be centered on "learning for the sake of continuing your business progress and viability."

Is a Roundtable Really Round?

John Schmits, a local chairman of Vistage International (formerly TEC), agrees that roundtables must be more than simply a group of people chatting about a given topic. He says, "The term is used a lot, but it is often applied so broadly that it loses its punch. Sometimes people use it to mean a gathering where people get together for discussion, but this will not get the results most business owners are looking for." Rather the successful model is composed of committed, diverse peers who are led by a knowledgeable and experienced leader with access to outside resources.

Roundtables tend to be made up of leaders who are functioning on the same level, that is to say people who have the same level of authority in a company. Schmits states, "It is counterproductive to have substantial, successful business leaders to be in a group with other types of people. It is not meaningful or efficient. They must be similarly positioned in terms of responsibility." Consequently, he leads separate roundtables for CEOs and key executives.

Osterman, who leads a roundtable of women business owners in Syracuse for the Women Presidents Organization (WPO) and is involved with a Rochester roundtable called CEO Fellows, explains that limiting members to certain types of people is not to be elitist. Rather it is simply more useful to members who find value in conversing with others with similar issues and in similar situations.

Diversity is Key

It is important to note, however, that while members are from similar positions, they are quite diverse otherwise and represent a variety of experiences. Betty Mullin-DiProsa, President of St. Ann’s Community and a member of one of Schmits’ CEO groups, acknowledges that while she represents the only not for profit business in her group, she benefits and contributes the same. "To me there is no difference as a non-profit and a for profit CEO." She adds the Vistage group members helped her specifically during St. Ann’s recent campus expansion, noting the experience of the members was particularly helpful in dealing with town laws and codes. "New York towns are difficult to work with, but the experience of group members who have already navigated these types of dealings was helpful."

Gail Cowley, Owner and Executive Vice President of Cowley Associates and a member of Osterman’s WPO group in Syracuse, agrees that the diversity of people is what adds true value to the roundtable experience. "It is the dynamics of who’s here that makes it work. Our group has synergy – the people are very different, but we all have a great deal of respect, which leads to the value of what we come away with." In addition, Cowley adds, having a good facilitator makes an impact as well.

The Value of a Facilitator

In fact, without an experienced business leader as facilitator, a roundtable or peer group can be highly inefficient. It takes the skills of trained mentor to both keep the group on track and hold members accountable for change. "Without a leader," Schmits says, "type A personalities sometimes feel they have all the answers, which can get in the way of meaningful discussion. Sometimes smart, decisive people blast by the problem."

But a skillful leader will guide members to find their own solutions, either within themselves or within the expertise and experiences of the other members. Osterman calls this process, "releasing the genius of the group," and states, "We have an intuitive knowing of the solution, but the craziness and busyness of our lives gets in the way of that." Setting aside distractions provides space for participants to get to the bottom of issues and take away real solutions to the issues facing their business.

Chinks in the Armor?

For executives who still feel squeamish about revealing issues in their companies or admitting areas in need of change or strategic development, they can rest assured that roundtable groups take measures to protect members’ interests. Osterman notes that WPO members sign confidentiality agreements each year and have a voice in regards to potential new members. Schmits adds that Vistage has a prohibition on competitors and significant supplier relationships within the same group. It goes back to being a safe place where business leaders can get objective and honest input, which is also why these groups function differently than a paid advisor. Schmits notes, "People need paid advisors, but they have a different agenda than a peer group. Advisors have to be aware they are advising a client they can lose. A peer group will be more objective and candid because a peer wants to get help and provide help, not sell a product or service."

Beyond the worry of competitors getting a hold of vital information, likely the biggest stumbling block to peer groups is the amount of time members invest. Groups meet anywhere from three hours to one full day per month, plus additional time for member award luncheons, one-to-one mentoring and annual conferences. But as Tom Rogers, President and CEO of AM & M Financial Services and a member of Schmits’ CEO group, notes the return is worth the investment. "It’s the time more than the money. In the beginning the money seemed like a large investment, but as I went along I realized it’s really the time that is the investment." He adds though that, "Peer groups give me real life practical application. They give me the ideas and information that I can implement right now in my business. As well, I get to hear what others in my situation are doing in real time." Mullin-DiProsa agrees that she finds value in the meetings that can not be obtained elsewhere. "When you are the CEO you don’t have peers within an organization to bounce ideas off of. Managers have this – they can come up with an idea and say, ‘What do you think of this?’ But as a CEO you can’t do that."

Tangible Results

Whether it is from meetings, speakers or the one-to-one mentoring that some groups offer, members boast true results. Rogers says, "I have been able to implement specific programs that I have heard about from a national speaker and seen implemented and working from other peer group members. So when I implement something, I am not just thinking up the program myself or hoping its something that works, I am implementing a fresh idea that is also a proven idea." In addition, he adds the roundtable experience has affected his leadership style. "At first I didn’t think I could see anything, but then I realized that personally the peer group has made me a more well-rounded leader."

And that is exactly what the roundtable should be: a place of support where leaders can safely explore their business issues with directed focus and experienced advice to come up with clear and practical solutions that can be immediately implemented to make their business stronger, healthier and more vital. In short, the roundtable gives busy executives the satisfaction of knowing they have explored all of their options to move their company forward in this ever-changing world.