Business Networking: 4 Reasons You Need a Peer Advisory Board

A smarter way to connect, learn and grow as a business owner

Running a business can be exciting and rewarding, but it can also be incredibly lonely. Whether you’re scaling up, planning your exit, or just trying to get through another unpredictable quarter, one thing remains true: you don’t have to go it alone.

That’s where peer advisory boards come in.

Unlike traditional business networking events, a peer advisory board brings together experienced business owners in a confidential, structured environment to solve problems, share insight, and hold each other accountable.

At The Alternative Board (TAB), we’ve spent over 30 years helping SME leaders achieve clarity, growth and balance through the power of peer support and collaborative decision-making.

So, what makes this kind of business networking different?

How a Peer Advisory Board Differs from Networking

Let’s face it, most business networking events are designed around quick conversations and card swapping. They can be helpful for lead generation, but they rarely go too deep.

A peer advisory board is different.

• It’s not about selling, it’s about solving.

• It’s not transactional, it’s transformational.

• It’s not one-size-fits-all, it’s tailored to your challenges and goals.

You’re not just meeting fellow business owners — you’re building a community of support, trust, and accountability. We call it 'network intelligence': a structured, honest exchange of knowledge that helps everyone make better decisions.

“Even though the businesses on my board are very diverse, we all experience the same fundamental issues and bring different perspectives to tackle them.”

Alison Wells

Plane Talking

Here’s why more and more business owners are choosing peer advisory boards over traditional networking groups and how this focused form of business support could help you achieve more with your time, your team, and your strategy.

1. Save Time and Make Better Decisions

If you think you don’t have time to sit with other business leaders each month, consider this: our members consistently say their boards save them time, increase focus, and make them more effective.

By committing a few hours a month to structured peer conversations, you’ll:

• Gain new ideas that reduce wasted effort

• Be held accountable to the goals you set

• Cut through indecision by talking things through with others who “get it”

• Learn how other SME owners delegate, prioritise, and grow sustainably

This is how an 'accountability culture' develops and how business owners stop firefighting and start leading with purpose.

Related: Why Leadership Alignment Matters More Than You Think →

2. Get Honest, Expert Feedback on Strategy

Whether you're considering a new direction, exploring growth opportunities, or planning for succession, having a trusted space to talk it through can make all the difference.

A peer advisory board gives you access to experienced business owners who’ve faced similar decisions. They’ll ask thoughtful questions, highlight potential risks, and offer insights based on what has worked for them in the real world.

This kind of constructive input helps you:

• Strengthen your strategy and avoid blind spots

• Think more critically about long-term impact

• Make better, more confident decisions

Explore: How to Create a Growth Business Plan →

3. Gain Perspective on Business and Life

When you're deep in the day-to-day, it can be hard to see the bigger picture. It’s not always obvious what’s working, what needs to change, or where the real opportunities lie.

That’s where a peer advisory board adds real value.

By bringing together business owners from diverse sectors, backgrounds, and experiences, you gain a fresh perspective on challenges you may have been pondering for months. It’s often the outside view that helps things fall into place.

This is particularly helpful in family businesses, where it can be challenging to distinguish between personal dynamics and business decisions. An independent group helps you see things more clearly, and make decisions with confidence.

“Since joining TAB I’ve made good friends who laugh and cry together... I couldn’t be without it. The time I invest each month has made me more focused and efficient.”

Rob Watson

PH9

4. Beat the Isolation of Leadership

Running a business can feel isolating,  especially when big decisions rest on your shoulders. Friends and family might listen, but they don’t always understand the pressure or the weight of responsibility.

A peer advisory board changes that.

It gives you a consistent, confidential space to speak openly with people who get it—business owners who’ve faced similar challenges and want to see you succeed. Over time, this creates a sense of camaraderie, trust, and shared progress.

You’re not just building a network —  you’re joining a group that will support you, challenge you, and help you stay focused on what matters most.

Is a Peer Advisory Board Right for You?

Peer advisory boards work for a wide range of business owners and leaders:

• Solo founders looking for support and structure

• Scaling SME owners balancing growth with operational complexity

• Family business leaders navigating personal and professional priorities

• Exit planners preparing to step away and maximise business value

• New owners seeking guidance after acquiring a business

• Established directors wanting to re-energise their leadership

If you’re ready to stop doing it all alone, this kind of business networking can be transformational.

Ask yourself:

• Are you making decisions in isolation?

• Are you stuck in the day-to-day and want more clarity?

• Do you want honest, experienced input on your biggest challenges?

• Would you benefit from strategic accountability?

If the answer is yes, it might be time to try a different kind of business support.

Download: 19 Reasons to Join a Peer Advisory Board →

Take Action Today

Joining a peer advisory board could be the shift that changes everything, giving you the clarity, confidence, and network intelligence you need to grow your business and enjoy running it again.

Find your local TAB facilitator→