Peer Advisory at the Bay Area Mastermind
Bay Area Mastermind members get together once a month for a full day Mastermind to work on their business. Peer Advisory is one of the most important components of our Mastermind – both during our meeting and between meetings.
See, some Mastermind groups are “Guru Led” where members attend to rub shoulders with and hang out more with a revered speaker, author, or expert. The other members in the room are more of a bonus than a core benefit. Yikes.
At the Bay Area Mastermind, we’re a peer group of like-minded, growth focused, founders, entrepreneurs, and business owners. We carefully vet and qualify each prospective member to assure they’ll be a fit for the peer advisory in group – and that the group will be a fit for them.
“The Bay Area Mastermind has been a great experience for me as a current member. The group has provided me with invaluable insights into various business operations and helped me to gain a better perspective on working on my business, rather than in it.
One of the things I appreciate most about the group is the diverse range of businesses that get shared and covered. This has enabled me to gain a broad understanding of different industries and has provided me with the tools to develop and grow my own business.
Furthermore, the other members of the group have been a valuable asset. Everyone brings their own unique perspectives and experiences, which have helped me to gain new insights and ideas. Jeremy, the leader of the group, has done an incredible job of keeping us challenged and encouraged, ensuring that we continue to grow and develop.
I highly recommend Bay Area Mastermind to anyone who is looking for a supportive and challenging group of like-minded business owners. The group has been a tremendous asset to me, and I’m confident that others will find it just as valuable.”
Peer Advisory Goes Both Ways
It’s not enough to just come to the group, ask your question, and bounce.
Mastermind Members are expected to fully participate and provide advisory for their peers as well.
You have your own areas of genius that are blind spots for others. You’ve learned many things the hard way. Your peer advisory group at the Mastermind is the place to share your hard earned wisdom with others.
We all know what things we [think we] know. That’s our expertise.
We all know about things that we don’t know. These are opportunities.
By hearing others share during their hot seats, you get insights into the topics you didn’t know you didn’t know! THIS is where the real growth happens!
That’s only possible through true peer advisory.
“Navigating through the struggles of a small business owner is an extremely daunting task. Especially when you know the success of your company relies solely on you. Prior to joining the Bay Area Mastermind group, my Father and I struggled to determine the next major step to better our business. Smothered by the countless amount of issues at hand, we had little idea of what to focus on. After becoming a part of this team, the unique experiences of every individual have helped guide me to take that next step.”
Jake NguyễnThe Flying Locksmiths of San Jose
Peer Advisory Boards for Founders
A peer advisory board gives you the chance to get unbiased feedback from other business leaders just like you. Peer groups can be found at your industry events, but then you’re just meeting more fellow business owners with businesses just like yours doing the same things as everyone else in the industry.
Where true advisory groups like the Bay Area Mastermind help is in getting like minded business leaders together in peer advisory boards that cross industry lines. This provides cross pollination of ideas from one industry to another. While your peer group is comprised of other founders, your fellow members bring ideas from their industry that you can apply to yours.
Choosing a Peer Advisory Group
Peer advisory groups aren’t for everyone and aren’t all created equal. So how do you pick the right peer advisory group for you and your business?
The three things you’ll typically look at are:
- Time Commitment
- Financial Commitment
- Who’s in Your Peer Advisory Group
We dive deep into the 3 categories of groups and their pros and cons in our deep dive on Finding a Mastermind Group Near Me.
In short, you’ll find “accountability” groups that meet too frequently (like weekly) for too short of a time (like an hour) and have very low show rates and high turnover in the group. You don’t get the time needed to truly work on your business.
You’ll also find higher end “destination” peer advisory groups that meet too infrequently (like 2 to 3 times per year), are too far away (add on travel days on both ends of each trip), and require a high investment (like USD $30,000++).
In between those, you’ll find the “sweet spot” of peer advisory groups like the Bay Area Mastermind that meet once a month for a full day of working on the business.
“As the creator of an online education business, Making Art Making Money, I was too often alone in figuring out how to scale my business. Sharing other aspiring entrepreneurs’ successes and struggles is inspiring and motivating. Even though we have very different enterprises, we often share similar challenges. Now I’m not alone, and I’ve gained the helpful guidance of Jeremy and my other mastermind partners. Spending one day a month with them forces me to work on my business instead of always in my business. It’s so valuable to step away and gain renewed perspective and focus each month.”
Ann ReaMaking Art Making Money
Vetting a Peer Advisory Group
Peer advisory groups come in different flavors and not each group will be a fit for each person. So how do you see if a peer advisory group is a good fit for you and your business?
You have to try it out. No matter what you read, or how many peer advisory group reviews you read, nothing will give you a feel for if a group is the right fit for you or not like attending a meeting, participating fully, and getting to know the other members in the room.
At the Bay Area Mastermind, that’s why we offer a full-day Peer Advisory Group Test Drive.
Our group isn’t for everyone. That’s why we have an application process and carefully vet prospective members.
Ready to see if we’re a good fit for you – and if you’re a good fit for us?
Who’s Your Peer Advisory Group?
Who do you bounce ideas off with, get expert insights from, and share resources with?
Are you ready to connect with like minded Business Owners, Founders, and Entrepreneurs who’ve “been there, done that” ?