Holiday Gratitude: Who Is In Your Peer Group?
The holidays are often a time of reflection and gratitude for those around us. We all have people in our lives who share our challenges and are always there to help. As the FMI consultant who leads our peer group program, I have spoken with many contractors who are deeply grateful for the peers who helped them through the last two years.
The COVID-19 pandemic, the uncertainty of project starts, evolving government programs, supply chain disruption and work stoppages were new challenges for all business leaders. Even those who had been through the Great Recession never experienced the level of uncertainty or change the whole world faced in 2020 and 2021.
Given that, I thought I would check in with a few of our members to see what they found most useful about peer groups. Below are a few quotes about the value of leaning on your peers during difficult times.
“As we’ve dealt with the unknowns, angst and even fears that the pandemic presented; the group’s commitment to help and support each other has been very encouraging and helpful. We’re all in it together. There is trust, compassion and a sense of stability that exists. It’s good to go through times like these with a strong bunch of guys.” - Greg Key, President of Lueder Construction:
“We got a lot of value from the skill, perspective and experience of the other members as they gave us feedback on what we were doing.” - John Cannito, President of The PENTA Building Group
“The openness to share and make each other better has helped our company in all areas. The amount of sharing during the pandemic has provided even more value to the experience.” - Jason Harrington, CEO of HB Construction
“The opportunity to participate in a peer group through FMI has changed the direction of Doyle Electric and greatly influenced my person development in the course of 20 months.The openness and vulnerability with which each peer group member shares triumphs, failures, best practices, strategic priorities and industry perspectives has made our peer group an invaluable extension of Doyle Electric.” - Beau Leitner, President of Doyle Electric
“The brainpower of six companies’ leadership all sharing their best approaches to manage through the crisis – sharing documents, guidance and resources – has been invaluable.” - Jake Simmons, Chairman of Delphi Construction
As you reflect this holiday season, and as we embark upon a period of economic uncertainty with heightened search for construction talent and growing complexities ahead, who is in your corner? Who are your trusted advisors? Who is in your peer group?
Questions to Ask to Determine if a Group Will Meet Your Needs
No matter where you turn for advice or insights, here are a few questions to keep in mind when you’re looking for like-minded peers to help you manage your business.
- Does this person/group understand my business and the challenges we’re facing?
- How much experience does this person have in my specific sector or with challenges like mine?
- Does this person/group share my values and the values of my company?
- Am I willing to invest in this person/group as they invest in me?
