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  #1  
Old 03-09-2013, 11:23 AM
dllawson dllawson is offline
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Peer Groups

I read a good article this morning on peer groups in Landscape Management Magazine. It starts here http://editiondigital.net/publication/?i=142482 on page 21. I have two good friends that each own multimillion dollar service companies. They are both members of some of the groups mentioned in the article. Each of them attributes much of their “business management” success to the knowledge they gained from their peers in these groups. In the peer group, they have a committed board of advisers who help them overcome the most difficult business challenges they face.

Peer groups could also be a great tool to help the owners of smaller landscape companies grow. If cost was not an issue, would many of you make the commitment to join a peer group of serious business owners?
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Old 03-09-2013, 06:27 PM
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jrs.landscaping jrs.landscaping is online now
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Isn't this forum a peer group in a round a bout way?
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Old 03-09-2013, 07:02 PM
Working Man Working Man is offline
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Peer Groups

I read that article and was very interested. This forum is a type of peer group but it doesn't group companies together by income thresholds and it is an open forum. People just starting out have different problems than companies with 5 employees doing quarter to a half million dollars, or a business with 50 employees doing millions in gross. I talk to some of my competitors but you really have to watch how much you share. We all know the same people, companies, and customers. I want input from other areas (not necessarily prices). But management practices and systems. My direct competitor is not going to show me his systems regarding sales, profit margins, numbers, where he gets his best customers. But someone 5 states away may be willing to share this info privately instead of on an open forum.
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Old 03-11-2013, 04:55 PM
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jccntry jccntry is offline
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Quote:
Originally Posted by Working Man View Post
I read that article and was very interested. This forum is a type of peer group but it doesn't group companies together by income thresholds and it is an open forum. People just starting out have different problems than companies with 5 employees doing quarter to a half million dollars, or a business with 50 employees doing millions in gross. I talk to some of my competitors but you really have to watch how much you share. We all know the same people, companies, and customers. I want input from other areas (not necessarily prices). But management practices and systems. My direct competitor is not going to show me his systems regarding sales, profit margins, numbers, where he gets his best customers. But someone 5 states away may be willing to share this info privately instead of on an open forum.
Very well put Working Man. Couldn't have said it better. This Peer Group (Forum) has helped us with our business from day 1.
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Old 03-11-2013, 09:58 PM
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bohiaa bohiaa is offline
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sometimes knowned as a mentor....

Yes It works. and most dont mind shareing there mistakes.
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  #6  
Old 03-13-2013, 11:08 AM
dllawson dllawson is offline
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This forum is definitely a type of peer group, and fantastic information is shared here. As has been stated, a key difference in a formal peer group is the open sharing of financial information, systems and strategies. Another key difference is commitment. Each member of the group must be committed to helping the other owners be successful.

I think in a group of 10 business owners it is safe to assume at least one owner is going to be gifted in every area of business. When you combine the strengths of all ten companies everyone’s effort will be multiplied. You can quickly improve an area where you are weak by adopting someone else’s strength. Even your strongest area will be made better by having 9 other owners examine it.

It would be great to see how much a group of 10 owners could improve their businesses by doing this for a year.
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  #7  
Old 03-13-2013, 05:57 PM
Working Man Working Man is offline
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Peer Groups

Sounds good to me, who else is down?
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  #8  
Old 03-14-2013, 01:42 AM
seabee24 seabee24 is offline
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[QUOTE=dllawson;4704452]This forum is definitely a type of peer group, and fantastic information is shared here. As has been stated, a key difference in a formal peer group is the open sharing of financial information, systems and strategies. Another key difference is commitment. Each member of the group must be committed to helping the other owners be successful.

I think in a group of 10 business owners it is safe to assume at least one owner is going to be gifted in every area of business. When you combine the strengths of all ten companies everyone’s effort will be multiplied. You can quickly improve an area where you are weak by adopting someone else’s strength. Even your strongest area will be made better by having 9 other owners examine it.

It would be great to see how much a group of 10 owners could improve their businesses by doing this for a year.[/QUOTE]

I would aggree to with that statement. I would never consider it with someone that is remotely close to the same service area as me, however shared information amongest persons generally results in good things.
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Old 03-14-2013, 07:02 PM
NC Greenscaper NC Greenscaper is offline
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I would love the opportunity to do this. I would also want to make sure the peer group members were from another service area and around the same level and type of business. I think the information that is available here is good, but you can't qualify the worthiness of the information because you don't know what kind of and size of operation the person giving the advice has. I would love to travel to a neighboring state or two and share my experience and financial with a group of 7 to 10 businesses.
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