Kevin Brent, director of BizSmart, is sharing his article on peer-to-peer business support with us today. Kevin is an experienced and entrepreneurial business practitioner with a focus on strategy, business development and maximising value. He has combined pharmaceutical sales and marketing experience with strategy consulting value based management, medical communications and e-business. He holds an MBA from INSEAD, has built three and exited from two business and built his own eco friendly home.
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What is Peer-to-Peer Support?
Peer-to-peer business support networks encourage likeminded business leaders to share brilliant ideas, best practice and learn from one another. Often, they bring together senior leaders who share similar job roles but work in different sectors. This encourages dynamic thinking and provides fresh perspectives on ideas and challenges.
Each session offers group members the chance to ask questions and seek advice. It’s an opportunity to find out about others’ experiences, and share fears, concerns and successes. Members feel safe and able to express themselves in a non-judgemental environment where everyone is there to help one another.
The Benefits of Peer-to-Peer Business Support
According to research, peer groups enable businesses to advance growth by two to three times their normal levels. BizSmart’s own research shows that 90 per cent of business owners asked found peer-to-peer support instrumental during the pandemic.
When compared with other sources of business support, only eight per cent of business owners said they would seek advice from a close family member or friend. This demonstrates that nothing quite compares to the value of working with like-minded professionals.
It is the personal experience of running a business that makes peer-to-peer business support distinct from the counsel of friends and family. Peer group members understand the responsibility and pressures of being at the helm of a business in a way that others simply cannot.
Peer-to-peer support group members can be a great source of information, pragmatic advice and mentoring. By leaning on individuals who have already been there, done that’, entrepreneurs can create valuable returns for their business. This enables them to position themselves for future success, and drive longer term business growth.
How to Get Involved in Delivering Peer-to-Peer Business Support
‘Peer Networks’ is a Government led support initiative created by the Department for Business, Energy and Industrial Strategy. It encourages UK business leaders to invest in the growth and development of their company by working closely with their peers.
Peer Networks has recruited the assistance of regional business support providers to help business owners surpass current challenges and grow in 2021.
Having delivered our own successful peer-to-peer business support learning programmes over the last eight years, BizSmart has seen the incredible impact it can have in helping business leaders create a clear, and consistent strategy for growth.
The Power of Peer-to-Peer Business Support Learning
This initiative allows potential BizSmart Franchisees to establish their own client base as businesses become more aware of the power of peer-to-peer learning. Those who take part will reap the benefits of the initiative, and many will look to continue peer-to-peer support once it concludes, offering Franchisees a great opportunity to establish their own client base.
Businesses up and down the UK are looking at how they can grow. There has never been a better time to launch a peer-to-peer support franchise and build a profitable business whilst helping SMES develop growth strategies that will deliver value.
Did you know about peer-to-peer business support? What support does your business need? How could you and your business support others? Let us know in the comments!
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