For Immediate Release: The Entrepreneur Circle :Hires New Facilitator to Accommodate Continued Growth

For Immediate Release:

February 2, 2010

The Entrepreneur Circle, a Glastonbury, CT based company that assembles and facilitates peer advisory boards for business owners, is very pleased to announce the hiring of a new facilitator, Sally White.  Sally will be facilitating Roundtables in northern CT and the greater Springfield, MA area.

“We are excited to have Sally on our team”, said Mike Keiser, Managing Member of The Entrepreneur Circle.  “Sally brings with her a tremendous amount of experience and enthusiasm”.  “As an adjunct college professor, a trained facilitator, and the Managing Partner of LeBlanc Associates, there was no question that we wanted someone of her caliber to work with us as we continue to expand”.

Sally will continue as the Managing Partner of LeBlanc Associates, a firm that provides training and leadership development in the areas of marketing and business strategies, performance management systems, generational management consulting, team coaching and training, and conflict management and resolution.  In addition, Sally was recently voted “Volunteer of the Year” in the Enfield, CT Chamber of Commerce.

Peer Advisory Board: Confidentiality Part 6

To recap over the past few months we have been talking about how to assemble a Peer Advisory Board.  We discussed choosing the members, commitment, the importance of a pre-set agenda,  discussion protocol and assigning roles.  This post will discuss the importance of confidentiality.

A Peer Advisory Board is a carefully selected team of like-minded peers that will provide for you…

• Accountablity
• New ideas and concepts
• Guidance
• Solutions to business challenges

The best way to achieve this is by keeping the conversation of the meeting confidential.  We have our clients sign confidentiality agreements, and reread the agreement at the beginning of each meeting.  When the members of the group feel safe they are more likely to remove the facade and tell the truth.  When the mask and facade are removed, we can start to see where changes need to be made, and get better information from your table mates on how to resolve the situation.

Example:

Facade:  Business is growing, we brought on 2 new clients this month

Truth:  We brought on 2 new clients this month, but cash flow is still not where we need it to be. 

When I hear that business is growing and new clients have been brought on, I congratulate.  When I hear that cash flow is short, I have questions and can share examples of how I dealt with or am dealing with that situation.  Both statements are true, one gets praise, the other opens the door to creating a solution.

The best way to keep confidentiality, is to keep all conversation inside the room.  The most blatent breech would be to say “John Doe, who is on my peer advisory board, said …”  That is an obvious one.

Other breeches are more subtle:

1.  Members of the group talking about the meeting or another member not present in a public place.  (You never know who could be listening)                                   

2.  Making an introduction after the meeting.  Always let your table mate know what you plan to do.  They may not want certain information repeated, emailed, or left on a voice mail.

3.  Giving vague references, “Oh yeah, I know John, he’s got some good stuff going on right now”  Deals have been broken using statements like that.  Are you talking to the person that John is working with?  Does that person know it is such a big deal to John? 

4.  I could go on, but I think you get the point.  What happens in the room,  stays in the room, do not speak about any of the information discussed with anyone, including each other once the meeting has concluded.  Unless the  member who owns the information initiates the conversation.

Some may say, I am being too picky, or maybe too paranoid.  Perhaps.  Every example, above has affected someone at some time.  Trust is too important to play around with, it’s better to take the side of caution that to put your table mates at risk.

When confidentiality is in place, trust is built, the facade is dropped and solutions are created.

Next time we will discuss the importance of having a group charter.

Congratulations David Wood

Last week David Wood President of Gateway Financial Group, and fellow E Circle member, was awarded the Chairman’s award at the Glastonbury Chamber of Commerce Annual Dinner.

Dave has put countless hours into making the chamber a valuable resource for Glastonbury business owners. Congratulations Dave, you deserved it!

Great Video

Thank you Dallas Cyr (True Asset Financial) for sharing this link

Peer Advisory Board: Assigning Roles Part 5

To recap over the past few months we have been talking about how to assemble a Peer Advisory Board.  We discussed choosing the members, commitment, the importance of a pre-set agenda, and discussion protocol.  This post will discuss the different roles that are important to your board.

Every board is started by someone.  This person took the initiative to put the group together.  Although, possible for the individual to continue to take responsibility for the group, it isn’t beneficial to the leader or the group.

The board benefits all participants, therefore all participants should take responsibility for some part of the work.

When one person is doing all the work, they can start to feel underappreciated.  The group may become less committed or interested in it’s success, not to mention the load of the responsibilites are much easier to bear when everyone helps.

Below is a breakdown of the roles we have found work.

Facilitator:

      1.  Facilitate the meeting

                   A. Meeting Opener

                   B. Keep conversation on track

                  C. Keep all members participating

                  D. Make sure all members have the opportunity to present

                  E. Talk to members who resist presenting or causing disturbances

                  F. Create comfortable environment for all

                                    a. Member attitude

                                    b. Member participation

2.  Meeting location

3. Meeting Schedule

4. Check in with Presenter

5.  Prepare meeting agenda

6.  Bring Charter and signed confidentialty agreements to the meetings

Facilitator Elect:  takes on the role of facilitator at the meeting when the current facilitator is presenting.

Presenter: (All members)Prior to the meeting: Prepare their topic to discuss with the group. Meet with their buddy/coach, by phone or in person.

Buddy/Coach: (All Members) Meet with presenter before meeting.  The role of the buddy is NOT to offer any advice to the presenter during the preparation meeting.  Help them prepare for the discussion and clarify their issue.

Time Keeper:  Give warnings as time elapses and notices when time is up.  Keep meeting running on schedule.

Discussion Protocol Observer: Give notice and assistance when the discussion protocol is violated.

Secretary:  Take notes on any changes to the schedule, charter, agenda, location, etc…  Please note, confidential conversation should not be documented, published or distributed due to risk of confidentiality breach.

Treasurer:  Collect monies from the group.  Money may be collected for expenses, dues, charter breaches, ect…

The presenter and coach are ongoing roles for all members.  The other roles should be assigned term limits and rotated evenly.

Next time we will discuss confidentiality.

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Peer Advisory Boards: Discussion Protocol Part 4

In order for your Peer Advisory Board to be effective, 3 very important things need to occur:

1. Communication
2. Listening
3. Action

This becomes a delicate balancing act.  In order for true change to occur all three must take place. 

 com·mu·ni·ca·tion (k -my n -k sh n)

n. 1. The act of communicating; transmission.  2. a. The exchange of thoughts, messages, or information, as by speech, signals, writing, or behavior .b. Interpersonal rapport.

lis·ten (l s n) intr.v.

1. To make an effort to hear something    2. To pay attention; heed

ac·tion ( k sh n) 

1.  The state or process of acting or doing  2.  Something done or accomplished; a deed.  3.  Organized activity to accomplish an objective  4. The causation of change by the exertion of power or a natural process

Communication is relevant for both the individual presenting his/her situation and the board members contributing to him/her. 

The Presenter

The Presenter should be clear on his or her objectives and outcome.  They should come to the meeting prepared to state his/her challenge or opportunity.  We recommend that the presenter write out their situation, then meet with someone from their board (buddy) to help them clarify the issue at hand.  Preparation in advance allows the most success for the presenter.  Once the presenter has presented their issue, their job is to listen, create an action plan, and take action.  Without action, the presenter will not be able to affect change, and attain results.

The Group

It is essential that the group come prepared to help the presenter create an action plan.  They should also come with the understanding that the presenter is the focal point of the discussion and may start to feel overwhelmed, defensive, or uncomfortable if they are given too much information or advice.  We find the best results occur when the board communicates through sharing experiences, and asking questions.  It is also important for the board members to intently listen to the presenter through their verbal and non-verbal clues.   It is the job of the Board participants to support and help the presenter feel secure enough to present their situation.  The group is not there to judge the presenter or “fix” the problem.  They are there to listen and provide useful information so that he/she may form their own plan of action on their terms.  We have been given advice and told what to do our whole lives, we have a book shelf full of books, and have had encountered many folks that are more than willing to tell us how we should do something.  In my experience the true change comes from the personal decision to take the action, the best action plan is the plan created by the individual.  Therefore it is the responsibility of the board to help the presenter create his/her own action plan, and hold them accountable to take the necessary steps.

All parties come to the table with the intention to help one another grow, change and see their business in a different way.  This can and does occur when the parties involved come to the table ready to communicate, listen, and take action.

Next time we will discuss the importance of assigning roles.

Previous entries

Choosing the members of your Board

Commitment

Organization

Great Article on Peer Advisory Boards

Being in business for your self doesn’t mean you have to do it by yourself.  This article is a great illustration on how a Peer Advisory Board can give you the edge to grow your business.

Thrive with a little help from your friends Rick Spence, Financial Post

Peer Advisory Boards give you the edge to Succeed

Where do the top leaders in business & politics get their ideas?  Why does it seem so effortless and easy for them to get to the top and stay there?  The answer is simple, they surround themselves with other leaders that are just as or smarter than they are.  The President has his cabinet, he also meets with other leaders of nations.  Leaders of big business have their board of directors, and meet with other leaders of business at regularly scheduled retreats.  These meetings are private closed door affairs.  These meetings and retreats are what perpetuates the success and survivability of nations and big business.  The leaders know they are smart, they know they can lead, but they also know they can’t and shouldn’t do it alone.  They know that in order to stay competitive and keep their edge they have to bring their challenges, opportunities and ideas to the table and discuss them with people they trust. 

Small business owners can attain the same edge, they don’t have to do it alone.  Be in business for yourself, not by yourself!  Business owners have transformed the way they do business due to the collaboration with others.  Closed door meetings are exactly that, a private meeting to discuss in detail the challenges, opportunities, and ideas of your business.  Coming out of the forest and looking at all of the trees allows you to focus on the big picture, not just the one tree.  A true leader makes decision and engages in activity that promotes the big picture.

Peer Advisory Boards are for the winners in business that know they can always be a little bit better.

“Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has.”  Margaret Mead

Peer Advisory Boards

We’d like to hear from you!

1.   Share with us your experience/perception of a mastermind group or peer advisory board. 
2. What drew you to participate in the first place.
3. Or, what has kept you from participating

All responses will be published both positive and negative.

Assembling your own Peer Advisory Board

 Peer Advisory Boards seem to be one of those concepts that people either fully understand  or don’t.  In our travels we rarely see something in the middle. 

We feel very strongly about the power of the Peer Advisory Board, and would like to encourage all business owners to create the time in their schedule to participate in one.  Please understand we aren’t necessarily asking you to join one of ours, we are just recommending that you become part of a group.  You could look to a business that provides this service, or you may want to just go ahead and form your own group.  For the purpose of this post we are going to explain how to do it yourself.

Initially, you may want to form your own board.  A problem we have seen, though, is that many times these types of boards aren’t sustainable.  When a board does not have the proper components, they seem to fade away.  Therefore, we wanted to share, over the coming weeks, the components of a successful board and details around each of these components.

  First of all, you need to consider exactly what a peer advisory board is. 

Our definition:  A carefully selected team of like-minded peers that will provide for you…

• Accountablity
• New ideas and concepts
• Guidance
• Solutions to business challenges

If you want the best results, you want the best people possible on your board.  So, the first component is to be VERY selective about who you invite to sit on your board.  We will get into more detail about this in a later post.  The other components we will discuss over the coming weeks are…

• Keeping the board committed
• Pre-Set Schedule
• Agenda
• Assigned roles
• Discussion protocol
• Confidentiality agreements
• Charter/Operating agreement

Over the next several weeks, we will dissect each of these individual components and their importance.

Choosing the members of your Peer Advisory Board

Last Week we announced that we would share with you the step by step guide to creating your own Peer Advisory Group.  This week we will discuss how to choose the members of your board.

To recap:

What is a peer advisory board?

A carefully selected team of like-minded peers that will provide for you

• Accountability
• Brainstorm ideas, introduce new concepts
• Guidance
• Work through business challenges

In a secure, confidential environment

How to choose the members of your group?

Just because you like someone, doesn’t mean they are qualified to sit on your Peer Advisory Board.  Be Choosy!

Things to consider when inviting someone to sit on your board.

Do they:

• Have Similar goals?
• Have a Similar level of experience?
• Have the same commitment to their business?
• Bring expertise to the table?
  • Bringing together an eclectic group of industry and talent will provide you a well-rounded board.
  • One tool we use to create our boards is to have clients take our Business Assessment Survey.  Please feel free to utilize this tool for yourself.  We bring people together based on the strengths they can share with the others. 

For Example:  If creating a business plan is a goal and weakness, I would want to sit on a board with someone who has successfully created & followed their business plan.

Choose people you respect and have chemistry with, but be careful not to choose people that think and act like you.  Diversity is very important; you are looking to challenge yourself, and work smarter in your business.

Group size?

There are different schools of thought on this topic.  Some say 8 – 12, others say 6.  We have found 5 – 8 is the ideal.

All participants must be equal

Our natural tendency would be to invite others that are much further along in their business than we are.  Trust me on this one, Nobody benefits when all parties are not equal.

You cannot be the one who always gives or has the answers, and can’t be the one who always takes or always asks the questions.  Everyone must be capable in contributing in some way. 

Example:   Kindergartener and the Fifth Grader

Next week we will discuss group commitment.

Check out our video brochure

Peer Advisory Boards: Commitment Part 2

We have been providing the step by step guide to creating your own peer advisory board.  This post is dedicated to commitment.  The last post was dedicated to choosing the members of your board

To recap, a Peer Advisory Board is a team of carefully selected team of like-minded peers that will provide for you:

• Accountability
• Brainstorm ideas, introduce new concepts
• Guidance
• Work through business challenges

A team is a group of people that work together to accomplish something.  What would a baseball team be without someone at first base?  How could a football team function without it’s quarterback? 

The Peer Advisory Board is no different.  Without all members present, the group cannot accomplish it’s mission.  All members are critical to the success of the meeting.  The group was deliberately chosen to provide insight, experience, and wisdom to each other. Without them, everyone will miss out, including the member not present.  Each member has a role to play at the meeting.  The presenter (individual with the challenge) is looking to the group to provide information to help them create a solution. Without their team, they won’t have the benefit of collaboration.  The other members of the group also benefit from the presenter and feedback shared at the meeting.  If anyone isn’t present, that person’s contribution is missed. 

How do you create a committed team?

There are 2 ways:

First, upon conception of the group,  each person you choose must understand what they are committing to and the value of participation.  Some red flags would be someone who tells you that they can’t  predict their schedule and they will do the best they can.  Or, “I’ll be there unless I have a chance to meet with a prospect.”  These are not qualified board members.   Every member needs to be at every meeting.  Reschedule when a conflict arises, rather than conduct the meeting without them.

Second, fulfill on the value of the group.  Stick to the agenda. Begin and end on time. Keep conversations on track. Assign responsibilities to other members in the group and make sure members come to the meeting prepared. 

A committed group will thrive and grow together.  When commitment isn’t present, the group will eventually lose interest and cease to exist.

Next time we will discuss the importance of the pre-set schedule.

Peer Advisory Boards: Pre-Set Agenda Part 3

We have been providing the step by step guide to creating your own peer advisory board.  This post is dedicated to the importance of a pre-set agenda.  The last post was dedicated to commitment

Important meetings have an agenda.  Your Peer Advisory Board meeting is an important meeting.  The Agenda is the guide to how the time will be spent at the meeting.  Going into the meeting without one may lead to time spent unproductively.

There is a fine line between the Peer Advisory Board and a Coffee Klatch.

Coffee Klatches have their place in the world; they are usually social in nature, a place where there isn’t a pre-set defined result in mind.  Peer Advisory Boards are all about results.

Having a pre-set agenda gives the members boundaries: A start time, end time, and in between time.

As a busy business owner it would become frustrating to rush to a meeting that frequently starts late, ends late, or doesn’t accomplish the intended goal.  Time is not a commodity and should not be wasted.  The time the business owner sets aside to attend a meeting must accomplish something.  Therefore, assign and stick to the meeting schedule.  Don’t over plan or under plan the meeting. 

Time limits in the agenda will force the group to concentrate on the task at hand and not stray in the conversation.  Assign the role of timer to someone in the group.

Be respectful of your time and the time of your board mates.  Having a pre-set agenda at your meeting will keep the group healthy and together.  Groups that are disorganized will eventually fall apart.

Next time we will discuss Discussion Protocol

The Entrepreneur Circle 2009 Award Winners

Congratulations to our 2009 Award recipients

Voted in by their peers, these 3 Business Owners will be honored at our annual Holiday party December 15.

The Entrepreneur Circle Entrepreneurial Success Story:  

This award goes to The Entrepreneur Circle Member that has demonstrated the most entrepreneurial spirit.  
1.      Most creative idea
2.      Followed their business/plan
3.      Turned a concept into reality 

Susan Nolte, owner of May Cookie Company was bitten by the “Entrepreneurial Bug” several years ago, but it wasn’t until May 2008 that she began to put the pieces in place to launch May Cookie Co. Prior to starting her own enterprise, she spent 12 years in HR as a Recruiter and Recruiting Manager for two different staffing firms. The earlier part of her career was spent in Education, first as a teacher and then in the development and management of professional development programs designed for educators. She holds a BA in Education and Psychology and a Masters in Organization and Management. She loves being a business owner!

The Entrepreneur Circle Member of the Year:

This award goes to The Entrepreneur Circle Member that achieved/exceeded their business goals for 2008.
1.      Demonstrated business growth
2.      Accomplished set goals
3.      Innovative thinker
4.      Persistence/Drive

Gregory D. Guay, founder of Stellar Ventures, graduated from the University of Connecticut (Magna Cum Laude) with a degree in Finance. He possesses extensive experience in commercial lending, portfolio management and merchant banking. As a former Associate with Venture Partners, Ltd. (a private investment and merchant bank), Mr. Guay managed the firm’s merchant holdings as well as its loan portfolio. His responsibilities included, but were not limited to, financial modeling, development and implementation of turnaround strategies, due diligence investigations, asset-based lending and problem resolution.

Prior to joining Venture Partners, he was a Vice President with DAP Financial Services (a commercial finance company that specializes in non-prime borrowers). During his tenure, Mr. Guay evaluated portfolios of both non-performing and sub-performing commercial debt and managed 300% growth in the portfolio over two years; at the time of his departure, he was managing a $30M portfolio.  

He also specializes in negotiating critical business transactions, which include mergers, acquisitions, divestitures, license agreements and long-term leases. He has represented creditors, debtors and investors in both debt and equity transactions. In addition, Mr. Guay has drafted various forms of business plans, private placement documents and other securities offerings.

The Entrepreneur Circle Champion of the year:  

This award goes to The Entrepreneur Circle Member that went above and beyond the call of duty to help out others.  
1.      Accessibility to members in need of advice
2.      Mentoring
3.      Support

Parker Elmore, President & CEO of Primoris Benefit Advisors, Inc.  Parker has been in the employee benefits consulting field for over 20 years.  In 1998, Parker realized that many small to mid-sized organizations were struggling with the complexity of their employee benefit programs. He founded Primoris Benefit Advisors to simplify their programs without forcing them to accept simple or “one-size fits all” solutions.  Rather, he decided to scale the solutions he had seen in the large organization market and find ways to deliver them to all.  He began with traditional retirement plans and expanded to include 401(k) plans in his offerings.  Primoris Benefit Advisors has continued to evolve by offering various insurance services and valuation of medical plans for municipalities.  With well over 200 clients in 37 states, the company continues to grow. However, the mission remains the same – provide custom solutions with simplicity to all types of clients.

Event Details

A special Event

Last week we co-hosted an event with Gateway Financial Group “Celebrate what’s right with the world”.  We had such a fantastic turnout that we have decided to hold the event again, actually 3 more times. 

Event Details:

When: 5:30–7:30 PM

Tues. Dec. 1st

Wed. Dec. 2nd or

Thurs. Dec. 3rd

Where: 500 Winding Brook

Blvd., 2nd floor Glastonbury, CT 06033

Why are hosting 3 more events?

We recognized that this has been a particularly stressful year for many business owners and wanted to do something to lift everyone’s spirits and help them see new opportunities for their companies. Our goal for this event is to help fellow entrepreneurs recognize possibilities and find solutions for the challenges we face. By showing Dewitt Jones’ video and facilitating conversation around what is right in the business world, we think people will see that there is always more than one answer and that there are still plenty of opportunities to create a business of enduring value. It will also be a great opportunity for business owners to discuss solutions, strategy, and to network with one another. The basis of this event program is to help people see that there are possibilities available, even under adverse conditions, and to help them find the vision that inspires them to approach their businesses with confidence, celebration, and grace. Appetizers and refreshments will also be provided.

To RSVP call 860-432-4490, or email info@theecircle.com

The Entreprneur Circle Introductory Session

No one can master all of the issues demanding attention from a business owner today. There are just too many issues and they change too fast for one person to stay current:   marketing, employment issues, IT issues, changes in competition, and sales, just to name a few.

Where are you currently getting your ideas and solutions?

Who do you talk to when you have to make an important decision? Who helps you through your difficult challenges?

Peer Advisory Boards are a carefully selected group of people that will provide for you:

 - Accountability

- Brainstorm ideas ·

- Introduce new concepts

- Work through business challenges in a secure confidential environment

The Entrepreneur Circle will host an introductory session to answer your questions regarding participation on our Peer Advisory Boards and how they may help you grow your business.

Event Details:

 When:  Friday 12/18/09

Where:  500 Winding Brook Drive 2^nd Floor, Glastonbury, CT 06033

Time:  8:00 – 9:30 AM

 For more information on The Entrepreneur Circle please visit us at www.TheEcircle.com or Check out our Video Brochure

“The Entrepreneur Circle has provided an environment that allows me to continually think outside the box and then pursue those thoughts and goals with mutual support and accountability. We drastically improved our marketing programs and substantially grew our firm in our first year as E-Circle members. I strongly encourage any business person to make this commitment a priority item in their business plan.”  Bill McCloskey Founder of Stateline Senior Services