So This is Peer Mentorship for Business

Sheila was sceptical. The appeal of joining this business group were the speakers. She looked forward to intense learning from experts in a small group setting. She was eager to learn more about business. Chamber of Commerce luncheons and one hour workshops with 300 people in the room did not give her what she was looking for. This new group seemed to fit the bill. A full day away from the office to work ON her business, not IN her business – she had read and absorbed The E-Myth by Michael Gerber. Her hesitation was because the afternoons would be filled with the members providing updates and discussing an issue or issues that some might be facing. A whole afternoon seemed excessive. She wanted more time with the experts.

The idea of a business group and talking with peers was not new. Sheila had taken a series of workshops with an economic development agency and through those events had found particular connection with some of the other women business owners. A casual and coincidental chat on the sidewalk one day spurred Sheila to contact those women and propose getting together for a glass of wine. The evening was a success, and ten years later they were still meeting more or less once a month on a Wednesday evening, more frequently if someone needed to discuss something urgently and sometimes less often. Those women knew her, knew her business and had her back. She had heard of others who had formed groups which had not endured, so felt fortunate.

Sheila did not know the members of this new group. She had an introduction in and knew people who knew them. But. They were unknown and such diverse businesses. Ultimately she decided to join. It was the way to get the expert advice and well, that talking and sharing stuff with the members, she would manage through it.

The speakers were amazing. A few duds of course. Some were better or more applicable to her circumstances than others, but almost every month she took one idea away to consider and potentially implement. However, after a few years, Sheila realized that the biggest value in this group were those bonds forged in the afternoon sessions. Especially when her fellow members helped her through some significant crises. Only years later did she learn that this is called peer mentorship for business.

How does the story end?

Over the course of time, Sheila came to enjoy the afternoon group sessions immensely. It became important to give a clear update to the group, ensuring that they followed the ups and downs of her industry and business. It was a revelation to recognize the commonalities within the group, despite or maybe because of the diversity of the businesses. She was impressed by the expertise within the group, and the thoughtful analysis they could bring to bear not only because of their own experience, but because they had an insight into her business, as different as it was from theirs. These people were experts too. And they knew and cared about her and her business. Not always perfect and rosy, but still, well worth the investment of time, money and emotion.

A clear example of the benefit of peer mentorship came when Sheila was considering a substantial expansion and shift in her business. She went away on a retreat, as advocated by the group. The days away from the office focussed on this big question helped Sheila to see a direction that made sense for her. She was also aware that she needed to present this clearly and concisely to her group. That accountability sharpened her analysis.

The group was supportive and buoyed by that, Sheila took the plunge and proceeded. It was a good decision. Until it wasn’t. Things went south, largely due to factors beyond Sheila’s control. Terms like “perfect storm” were banted about. That was when Sheila discovered the true value of peer mentorship. Her friends in the group rallied to support her in both general and very specific ways. They saw her through the crisis. She could not have done it without them. She remains part of the group, as well as still meeting the women monthly for wine on Wednesdays. And now she pitches peer mentorship for business whenever she is speaking with entrepreneurs.

Business to Business Peer Mentorship

Sheila is fictional, although the story builds on many that I have heard and my own experience. It was only within the last year that I heard the term “peer mentorship”. When it was explained to me, my reaction was “Ooooh, of course”. When you google the term, the emphasis is not on business, but in the educational context, for college and university students. A recent article in the Report on Business magazine (subscriber access only) presented the benefits of peer-to-peer mentoring in the workplace rather than superior to junior mentoring. One quote may be also applicable to business-to-business peer mentoring:

Working with a peer was less intimidating,” Makxam says. “I was more receptive to learning since it felt more like a two-way collaboration and less like an assessment, which can be nerve-wracking. Plus, it was just easier to communicate with someone I could relate to. I felt more comfortable asking questions, and my peer mentor explained things in a way I truly understood.”

It seems that I am not the only one to be unfamiliar with the term peer mentoring, and Sheila is not alone in not recognizing the value. When you google “business to business peer mentoring” there are relatively few relevant articles. An ad for TEC appears and the link takes you to a landing page full of words about peer mentoring. However, the home page for TEC emphasizes other things: business connection, executive coaching, etc. The word peer does not show up very much. It would seem that they recognize that selling peer mentorship is not the way to build membership. I am confident that past and present TEC members will recognize the value, however.

Advice for Peer Mentorship for Businesses

As part of my pivoting, swiveling, contorting and backflipping through the pandemic, I was fortunate to get a six month contract with the Women’s Enterprise Centre of Manitoba (WECM). It helped me find focus. And introduced me to the term “peer mentorship”. I met amazing women entrepreneurs across our province and worked with a terrific team. It was a special pleasure to connect with Lisa Elliot of Ocean Tides Performance Group, who worked with me on the group coaching sessions and in developing a training video for WECM on peer mentorship. We recently had a chat about peer mentorship – join our conversation:

I hope that I have intrigued you to consider peer mentorship for your business. There may be existing opportunities in your area, perhaps from economic development agencies like WECM or through other business connections. If you would like to start your own group here is some advice from Lisa and me:

1. Peer mentorship is purposeful dialogue to support a fellow business owner to:
   • clarify current state
   • consider new possibilities
   • understand and resolve issues
   • imagine the future
   • determine a way forward
2. Peer coaching and mentorship requires:
   • Active listening
   • Asking not telling
   • Building or sustaining self-esteem
   • Encouraging self-awareness
3. Create structure
   • Select members who should be compatible and are not direct competitors
   • Meet regularly. Monthly is recommended. Suggested length of time is three hours.
   • Hosting the meeting rotates amongst the members.
   • Meetings have a regular format. Suggested agenda:
     • Roundtable check-in/update by each member
     • Issue processing – identified in advance or at the meeting
     • Roundtable value of the time and commitments for next time

Peer mentorship is ever evolving and dynamic. It requires you to both give and receive. I hope that you try peer mentorship if you are not already doing so, and that you and your business benefits. Then share your story with others.