Receiving emotional support while weathering a crisis may be the difference between success and failure for smaller companies
Denver, CO -- The combination of panic stricken global economies, fluctuations in the market, and the US economy in...
Denver, CO — The combination of panic stricken global economies, fluctuations in the market, and the US economy in crisis, has created a rough quarter for Canadian businesses. With additional challenges looming, many businesses owners are trying to strategize for a very uncertain future.
Members of The Alternative Board (TAB) — an organization that provides small to medium-size companies with peer advisory boards and business advice — have overwhelmingly stated that it is the emotional support they receive from fellow business leaders that gets them through when times are tough.
According to a recent survey conducted by TAB to gauge the mood of small- to mid-size business owners, 83% report receiving emotional support from their peers in addition to business support in the past six months, which may have something to do with the fact that more than 67% expect their businesses to grow, and the average TAB member has seen their business grow by more than 40% since joining the organization.
“Independent businesses are only as strong as the people within the company, so it should come as no surprise that businesses with organized access to emotional support networks are more inclined to flourish in a tough economy,” said Jason Zickerman, president and COO of TAB. “Most business owners are almost entirely alone. That reality combined with economic crisis typically leads to either inaction due to fear, or hasty, faulty strategies to be embraced in a rush to do something. This is the very basis for why businesses involved in peer advisory networks enjoy prosperity that others believe to be an impossibility in market conditions such as these.”
TAB is an international provider of peer advisory and coaching solutions to leaders of privately held businesses. Over 300 TAB boards are operating each month across the United States, Canada and South America. Headquartered in Denver, TAB was founded by Allen Fishman, author of 7 Secrets of Great Entrepreneurial Masters and 9 Elements of Family Business Success. For more information about the survey or about TAB, visit www.thealternativeboard.com.