6 Things You Need To Know About HTG Peer Groups
I attended HTG Peer Groups meetings on May 4 in Dallas, TX, and it took only a few minutes to realize they are different from most meetings of solutions providers in the IT channel. Beyond discussions about the technical aspects of solutions, pricing services, or incenting a sales team, these peer group members candidly share details about their financials, their personal goals, and the affect their work life has on their marriages and their families. Furthermore, the other members of the group posed questions to better define the challenge at hand and offered support and advice.
The HTG Peer Groups, which identify themselves by number (I sat in with HTG24, HTG8, HTG9, and HTG16 at different times during the day), are celebrating their 15th anniversary this year. President Scott Scrogin explains members of these groups recognize the benefits of helping another member to overcome a challenge and to take what he or she has learned to build a stronger business — and to share that information with the rest of the group. “The rising tide lifts all ships. When one grows stronger, the better it will be for everyone,” he says.
It’s important to point out, though, the companies that are members of these peer groups should not be characterized as struggling businesses; one vendor representative attending the meetings pulled me aside to tell me, “You know, this is the cream of the crop.” Their reasons for joining a group could range from wanting to overcome a specific obstacle, to successfully manage a business with a growing number of employees, or to break through a ceiling of annual revenue.
Among the many things I learned about HTG Peer Groups this week, I wanted to make you aware of these six that helped me have a clearer understanding of this organization:
- Your Business Plan Is One Of Four Plans You Should Have. HTG Peer Group members not only develop a business plan, but also a leadership plan that aims to equip them and their leadership teams to carry out the business plan. Members also develop a life plan that seeks to balance their work and home lives, and a legacy plan that includes specifics for contingencies such as disaster recovery as well as a plan for the future of the business. Scrogin says this is why a member might discuss the pros and cons of switching backup solutions at one meeting and ask how to steer his son toward the right college at another.
- The Groups Work Because Of Their Culture Of Accountability. HTG Peer Groups members hold each other accountable for the goals they set and for the timeline established to meet those goals. The ability to make yourself accountable to others for what you do — or don’t do — is requisite of members. Scrogin says members must also be open, transparent, and humble in their dealings with their peers, and members are committed to holding information in the strictest confidence.
- Members Have To Be “Go-Givers.” Based on the book The Go-Giver: A Little Story About A Powerful Business Idea by Bob Burg and John David Mann, members realize success will be stymied if they are unwilling to give back. HTG Peer Groups founder and CEO Arlin Sorensen says, “It’s part of our culture to be go-givers and to invest in others.”
- Members Are Placed Into Groups Strategically, Not By Chance. If you wondered how you could ever share your financials and business challenges with a potential competitor in a peer group, the answer is you don’t have to. New members are assigned by geography with no two members in the same area of the U.S. assigned to the same group. The size of the company is also a consideration. Other factors can influence which group a member joins; for example, there is a new group for member companies that are also taking advantage of coaching from HTG as well as new groups dedicated to service managers from member companies.
- There Are Quarterly Meetings To Attend And 88 Days In Between. Scrogin says in addition to the four meetings each year — like the ones taking place this week — members are in contact in between those sessions to continue to build relationships and to advance progress toward goals. Groups might have a call, meeting, or virtual meeting once between the quarterly meetings — or maybe even once per week. Some groups even form “micro boards” of three or four members that learn about each other’s companies in great detail to help each other work through challenges.
- Companies Rarely Join The First Time They Hear About The Groups. HTG Peer Groups business development manager Dennis O’Connell says, in general, most people ask for more information — weighing the commitment to the groups against the benefits — before they join. He says it also takes a company coming to the realization it isn’t reaching its goals working alone and needs help and advice before they ask to become members. “We’ll be here when you need us,” O’Connell says.
HTG Peer Groups scheduled their Q2 meetings at the Omni Mandalay at Las Colinas in Irving, TX, May 4-8, 2015.