ABC is currently forming peer groups for the following trades:
|Carpentry (not GCs)
||Less than $10 million
||More than $50 million
||Less than $6 million
ABC’s peer groups offer like-minded business owners an environment conducive to sharing ideas and discussing business opportunities and challenges–all with the goal of improving their businesses.
Peer groups consist of six to 10 ABC member companies within a trade or interest area and with similar annual revenues. Members in the same peer group do not operate in the same competitive market, which fosters trust and an open exchange of information.
PEER GROUP BENEFITS
- Forum for executives to discuss key business issues
- Opportunity to learn from fellow contractors that have faced similar business challenges
- Strong network of peers who embrace the merit shop philosophy
- Business consultants who can serve as a corporate advisory panel
- Ability to have candid conversations about operational challenges and the need for cost savings, improved productivity and increased efficiencies
GROUND RULES FOR PARTICIPATION
- Peer group members must be an executive of an active ABC member company.
- An initiation fee of $250 is required to connect a member to an existing group or establish a new group.
- Annual participation fee is $250 per member, plus any additional costs for travel and meeting expenses.
- All members are required to sign a confidentiality agreement; information disclosed in the group is confidential.
- Participation in face-to-face meetings and conference calls is required. Members who frequently miss meetings will be considered not active and will be removed from the group.
- Participants agree to time and financial commitment and may be asked to host a peer group meeting.
- Member must be willing to be open and transparent with other peer group members for the collective good of the group.
- All the travel and meeting costs are the responsibility of peer group members. ABC National can provide meeting space at national meetings.
HOW DOES A PEER GROUP OPERATE?
- Peer groups meet periodically, including at least two face-to-face meetings per year. Frequently, meetings are held at members’ locations. ABC also can provide facilities for peer group meetings in conjunction with ABC National meetings. In some cases, groups meet by conference call, based on the needs and interests of the group.
- An agenda is created for each meeting and the format can be determined by the group. Some groups have a rotating leader at each meeting and any member can suggest an agenda item for the meeting. Possible agenda topics include specific financial matters, employee/personnel matters, strategic planning and business operations.
- In some instances, members will be asked to provide information prior to the meeting. For example, if an agenda topic is P&L, key financial data may be gathered prior to the meeting. Groups that hire a facilitator will likely provide this information directly to that individual. Although groups may not utilize a facilitator at every meeting, it may be useful when discussing certain items.
- Successful peer groups have a strong foundation of personal relationships, in addition to providing a forum for idea exchange. Social activities may be scheduled at the face-to-face meetings to help foster the relationships, such as sight-seeing, golf or a dinner out as a group.
PEER GROUP LIAISON
The peer group liaison plays an important leadership role and serves as the primary contact between ABC National and the other members of the group. The liaison is responsible for the following:
- Primary contact in regular communication with ABC National staff
- Welcome new members to the group
- Provide an updated contact list of all peer group members to ABC staff
- Alert the ABC staff liaison when there is a change in the group
- Share best practices developed from the group, as appropriate
- Access point for resources from ABC
- Enforce the ABC membership requirement for group participation