Four Reasons Why You Need a Peer Advisory Board

A peer advisory board can help every business owner or leader.

It doesn’t matter who you are—a managing director of a manufacturing company with 60 employees and plans to retire, an owner growing a brand with a small, developing team, or a founder of a flourishing business struggling to balance work and family.

Owning and running a business brings unique challenges that often feel overwhelming.

Maybe you're growing too fast or too slowly, or perhaps you’re struggling to grow at all. You might be constantly hiring due to poor staff retention or feel the pressing need to develop a long-term strategy, yet you never seem to find the time because there’s always a fire to put out.

And when things get tough, who can you really talk to about it? Sharing your challenges with friends or family often feels inadequate—they don’t quite “get it”—and staying silent only adds to the weight on your shoulders.

Sometimes, it feels like the business you started isn’t delivering the life you hoped for. Even if you’re hitting your financial goals, there’s a chance that something just doesn’t feel right.

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But it doesn’t have to be this way. Every business owner deserves to have their business provide the life they truly want.

For over 30 years, TAB has been transforming the lives of business owners by leveraging the power of peer advisory boards.

Unlike traditional boards of directors or consultants, these boards are made up of fellow business owners who understand your challenges. These are your peers, people who have faced or are facing similar obstacles. They “get it,” because they’re walking in your shoes.

Imagine the value of having access to like-minded business owners who share insights and expertise to help each other’s businesses grow. That value is immeasurable.

“Over the years, I have received lots of practical advice on ways to improve my business from my TAB colleagues. Especially during these difficult times – knowing you’re not alone and sharing concerns with others who understand has been invaluable and has helped me see the positives in an otherwise bleak time for business.

Even though the businesses on my board are very diverse, we all experience the same fundamental issues and bring different perspectives to tackle them. Board Members may suggest a way forward that I hadn’t previously considered, or they may simply validate my own thought process – either way; I come away from my TAB meetings feeling re-energised and full of ideas for my business.”

- Alison Wells, Plane Talking

Four Reasons Why You Need a Peer Advisory Board

1. Peer Advisory Boards Save You Time

You might feel like you don’t have time to sit around and talk with other leaders due to your busy schedule. Yet, countless business owners find that peer advisory boards help them regain balance and accomplish more. Why? Accountability. These boards are not just about talking—they're about working on your business challenges and seizing opportunities.

Peer boards help you identify tasks that can be delegated or even eliminated, freeing up your time to focus on strategy or, perhaps, even enjoy that rare Friday afternoon off.

2. Get Expert Feedback on Growth Strategies

Are you exploring new growth opportunities or evaluating new business strategies? A peer advisory board is an ideal sounding board.

Whether you’re considering a new marketing strategy, a business expansion, or even a succession plan, your board peers have likely faced similar situations. They can offer valuable, experience-based advice and ask tough, probing questions to ensure your strategy is airtight.

3. Gain Fresh Perspectives on Business and Family

It’s easy to get stuck in the weeds when you’re too close to your business. Having a group of unbiased, experienced outsiders helps you gain new perspectives—especially important for family businesses, where it’s hard to find truly objective advice.

Your board, made up of business owners from diverse industries, can provide fresh insights that can be the spark you need to overcome challenges or discover opportunities you hadn’t considered before.

4. Combat the Loneliness of Leadership

Running a business can be isolating. Often, it feels like no one understands what you’re going through. A peer advisory board provides a sense of camaraderie, where you’ll form lasting bonds with people who genuinely care about your success.

“Since joining TAB I have made some good friends who laugh and cry together, which is testament to how strong the bond of the Board is. The different skills and diverse range of businesses on our board means you get such a variety of views to help you see things from a new perspective. I couldn’t be without it to help me through some of the challenges I face and the bit of time I need to invest each month in the Board meetings and 1-to-1 sessions has made me more efficient and focused.”

- Rob Watson, PH9

Is a Peer Advisory Board Right for You?

Ask yourself these questions:

• Have you been running your business smoothly but are now ready to accelerate growth?
• Are you exploring new directions and entering uncharted territory?
• Do you feel like your business is stuck in a rut?
• Are you planning to transition leadership or exit the business and need advice?
• Could you use guidance on marketing, recruitment, and employee management?
• Do you want to create a more efficient business that supports your ideal work-life balance?
• Have you recently acquired a business and need mentorship?
• Are you preparing to sell your business and want to make it more attractive to buyers?

If you answered “yes” to any of these questions, a peer advisory board could be the solution you’ve been searching for.

Take Action Today

A peer advisory board can provide the support, guidance, and accountability every business owner needs to achieve their goals. Find your local TAB facilitator today and discover how joining a peer advisory board can transform your business and life.