What small business owners can learn from each other

Small business ownership can be lonely, but it doesn’t have to be.

Across industries and regions, entrepreneurial collaboration has proved to be one of the most powerful ways to grow a business, solve challenges, and stay motivated.

Watch how SME owners use peer learning to solve challenges and grow their businesses

Whether through formal peer learning groups or informal chats over coffee, business owners benefit from sharing real-world experiences, asking candid questions, and hearing how others have navigated similar situations.

As Walter Bagehot, former Editor-in-Chief of The Economist (1861–77), once said:

“The summits of various kinds of business are, like the tops of mountains, much more alike than the parts below – the bare principles are much the same; it is only the rich variegated details of the lower strata that so contrast with one another.”

Where Do Small Business Owners Go for Advice?

There’s no shortage of options for business advice. You might hire a coach, subscribe to industry blogs, or lean on friends and family.

At The Alternative Board (TAB), we’ve found that some of the most valuable insights come from other business owners, often from completely different industries. On a TAB Board, it’s not unusual for leaders to find growth by simply learning from one another. For example:

• George Goss grew his business 2.5× and built a stronger team through board support and shared learning.

• PPS Ltd tripled revenue and workforce in five years after joining a TAB board in York.

• Sheri Irons scaled her company from a bedroom startup to a £2.5 million turnover business using peer feedback and strategic advice. 

This blend of entrepreneurial collaboration, shared experiences, and peer learning propels members forward in ways they couldn’t achieve alone.

Explore how other SME owners have benefited by visiting our success stories.

"Working with TAB has had a huge impact on INDSS and has been the catalyst for three big changes within the business: investing in CRM software, employing a CRM manager and setting up quarterly strategic meetings. TAB has also helped me establish systems and structures that were needed to support the growth of the business alongside a long-term exit plan. The results within just a year have been incredible and TAB has given our team the confidence to pursue and win big contracts like HS2."

Sheri Irons

Commercial Director, INDSS,

The Power of Planning Together

Every business leader benefits from a structured approach to planning, from defining personal and company visions to conducting SWOT analyses and building strategic roadmaps.

When you combine the support of a business coach with the challenge of an advisory board, the results can be transformative. According to the 2024 TAB Member Survey, TAB members’ turnover growth was 1.6× the UK SME average. Members also report falling back in love with their business and feeling less isolated thanks to the shared experiences around the table.

3 Ways Business Owners Learn from Each Other

1. Using Each Other’s Strengths

Every business owner has unique skills. You might be a master of marketing but, less confident with financial planning. In a peer learning environment, others can help you bridge those gaps by offering practical advice that has already been tested in the real world.

A TAB Board provides a safe space to admit vulnerabilities, learn from others, and build on your strengths.

2. Evaluating New Ideas

From growth strategies to succession planning, fresh ideas are easier to test with a group of experienced business owners. Someone else may have tried something similar and can share both successes and lessons learned.

These external perspectives can help spot weaknesses in a plan and challenge you to make it stronger before you commit resources.

3. Gaining an External Perspective

When you’re close to the day-to-day, it’s easy to miss obvious issues. That’s where outside input can be invaluable, especially from people in different sectors.

For example, a retailer might ask questions that help a recruitment firm rethink its hiring experience. This cross-industry exchange pushes you to think differently and consider solutions you might never have explored otherwise.

Stepping Beyond Your Own “Mountain”

To return to Bagehot’s analogy, those on one mountain often believe theirs is unique. Travel a little and you see the peaks are surprisingly alike.

Joining a TAB Board gives you that perspective. It’s a chance to visit other “mountains” in business, uncover new ways of thinking, and build relationships that support both personal and professional growth.

If you think this kind of peer learning and entrepreneurial collaboration could help you achieve your own goals, we’d love to talk. Get in touch with your local TAB facilitator to find out how it could work for you.