Are executive roundtables worth the time and money?
I am thinking of joining a local executive roundtable that meets once a month. There is a financial and time commitment so I am wondering if it is worth joining. I would like to hear other's experiences. Thanks.
Richard Stern-These types of meetings are good to attend to get information, share thoughts to get opinions to consider.
However, do you have the time to dedicate to these forums.
Once you decide the answer you will know how to proceed.
Kevin, It depends on the group. Are they true leaders or others that want to improve their skills. Paying to develop your leadership skills isn't a bad thing if you feel you can get something out of it. Because the follow up, being held accountable on time lines will increase your performance. These groups are set on a time schedule that needs to be followed. This helped me become better at organizing, holding, and controlling meetings.
We all should have mentors or get involved with groups to help us get to the next level. Round Tables will help you with this and also show what you are made of.
I did this recently with a group of leaders around the world through a video conference. The four months helped me tremendously. It didn't help me with networking because of location logistics however I made some great friendships who I can reach out to if needed. Best of success, Gil
Kevin, if you are going for the right reasons, to learn and build relationships ; yes .... if you just see it as a way to score some quick sales ; no
There are plenty of reasons to join and there are plenty of reasons not to. Here to help and explain. Have more questions for you, which may be a good thing. Before you jump in and make a economic and time commitment and probably the reason you asked on Mosaic.
Kevin, are you new to the geographic area? It's a good way to gain new relationships.
The two biggest on not joining are time and money. If you are questioning joining, you need to answer "What is your committment?"
The biggest rerason to join is having people you can trust give you advise. Unfortuantely they are in different fields, and their businesses are not related.
But you can find a better CPA, a better Insurance person. People to bounce ideas off of.
I have given several MBA presentation (same presentation to an executive group I give at USC, Ucla, Pepperdine and CSUN) to a network group. I help and make the presentation to help a friend with his group. .Hope that helps. All the best.
Hi Kevin. This is an excellent question. As someone that has had the experience of being in and then creating an organization of Executive Roundtables I will tell you that...it depends.
I had a very successful software company when I belonged to my first Executive Roundtable group. We were incredibly effective at helping each other solve problems, however when I started the C-Level Roundtable organization we found that creating the future of our business provided a way to look at our actions and support each other in reaching our goals.
As a Coach, Consultant, and C-Level member I find that unless the group is pulling for each member and each member put in the effort the groups just don't add the kind of value that makes enough difference to participate.
As for the money, some organizations are $1-2k per month and others like ours are just $75 per month. You get to decide if the group leader helping you is worth the money or if belonging to a group that has a low cost would have you be a real contribution.
Bottom line, if you are interested in a group go see it and find out how interested the group is and don't just evaluate the leader. For thoughts on how to create your own group, please reach out I'd be happy to help.
I agree with below suggestions....also align you mission & vision statements with theirs so expectations are addressed openly
Make sure you set what your goals are first. I've always used a mix of source of help. Roundtables are great peer support, but another source depending on your goals and problems are coaches and mentors. I've gotten more value out of mentors who have already successfully done what I want to do. Another source of business help is a board of advisers. No matter which one you choose they can add a lot of value as long as you are very clear on what you want out of it.
Hi Kevin, there are definitely a few takeaways with the executive roundtables - provided you have your objectives set right. If you are looking for relationships, it helps build your network. If you are looking for ideas, a keen interest and notetaking of the discussions can help you get a lot of ideas. If you are looking for cues, side discussions are excellent ways to get cues of trends, what the common industry is thinking and what are the fears and motivations of various stake-holders. Just make sure you have your objectives clearly outlined and you go there with a plan to get maximum out of them.
I can speak from the provider side and I will tell you that virtually all of my participants have been delighted with the return on investment. That return is 1) dynamic conversation with people who, like them have things to share and learn, 2) comaraderie, both within the group and in many cases relationships that far exceed the group dynamic, 3) answers to tough questions and 4) exposure to opportunity that had not been seen before. Does that describe you?
Start with answering, honestly, WHY? Create a list of the reasons why you want to join the group. This is a healthy exercise. After you have this list, create another list of Why this group exists and what they specifically tell you they accomplish during the year. Compare the lists. If there is a great deal of alignment, it is probably a good group for you and worth your time and money. If not, either you don't need a group or you need to find another group.
I have run these groups and am actually putting another one together. But I am very selective so that these "Why's" line up and the people will get a lot of value out of the interaction and learning. If they don't line up, they don't get invited to the group. It shouldn't be about the money or the time if the Why's line up with each other...the value will greatly exceed the time and cost.
I've been a chair for Vistage and for some members it's fantastic... if you put in the effort and you have a good group of peers it pays off. If it's for lead development you have to know if they have a network suitable for referral.
Short Answer: Go for it. You should be in a position to leave if you find its not useful. Some of these are organized for a reason - to sell you something. Others are genuine. Only way to find out is to go for a few of these and then excuse yourself in the long run if you find it boring.
Tom Casey pretty much sums it up. This is a question only you can answer. Are you willing to put in the time, effort and money and be held accountable as a member?
When I hold roundtables or Masterminds or other similar events, we all learn form each other, but also set goals and objectives for each month and report each month on where are towards accomplishing them.
It depends on what benefits you want to get out of it. As a consultant, it was an easy way to develop solid, long-term relationships with possible clients. I had to be careful, however, not to solve the various issues discussed at the meeting pro bono. :)
If you need to learn from other entrepreneurs, it could be a worthwhile experience, depending on the financial commitment. Other business people have problems and issues similar to yours, and you can learn from them.