Lekas & Levine Public Relations, Inc.
Joanne Levine 847.327.9530
Harnessing "the Power of Peer Power"
Savvy Small Business Owners Get an Edge from PRO
A dozen people sit around a table, drinking coffee and talking passionately. Some are in suits, some in work shirts. This diverse group includes a real estate developer, printer, restaurant consultant, attorney, and roofer. What are they talking about? And what brings them together like clockwork one morning every month?
Today, they happen to be talking about cutting expenses. Next month, the subject may be marketing strategies, compensation, or succession plans. What brings them together is a common desire to grow their small businesses. What brings them together is PRO.
PRO-short for President's Resource Organization-is a peer group for small business owners. It functions like an advisory board for entrepreneurs, allowing leaders to meet monthly to share challenges, solve problems, and identify opportunities.
"There's no getting around it…it's lonely at the top," says Ray Silverstein, PRO founder and facilitator.
"Small business owners have no board to consult with or share decision-making. They have no one to bounce ideas off of or brainstorm with."
Silverstein should know. An ex-CEO twice over, he personally understands the many challenges facing the small business owner. That's why, after selling his multi-million dollar tool and hardware manufacturing business, he formed his first PRO group in 1993. Today, he facilitates groups throughout Chicagoland and teaches others how to form and lead peer groups.
According to Silverstein, "The downfall of many small business owners is that they get so caught up in day-to-day activities, they forget their first role as company visionary. PRO forces its members to step back and take the long view-and identify solutions to their problems in the process."
PRO also serves as a fertile think tank for its members. Over the years, PRO members dreamt up so many innovative ideas, Silverstein felt compelled to share them in a book, "The Best Secrets of Great Small Businesses." Featuring more than 500 real-life business solutions, the book was just released by Sourcebooks publishers.
PRO's entrepreneurs fully recognize the value of shared wisdom. Take member Jeff Miller, for example. The president of Miller Ace Industrial, a hardware distributor in Elk Grove Village, he's been a PRO member for eight years.
"When you talk to other members, you realize you're not the only one who's ever had a particular problem. At every meeting, you get the chance to discuss a specific issue or challenge-and receive all kinds of feedback and ideas from your fellow members."
Fellow member Russell Carynski agrees. As the president of Carnica, Inc, a growing auto paint repair service in Des Plaines, he looks to PRO to help him steer his company.
For example, says Carynski, "We have more than 100 employees now, and we recently came to realize that we needed new procedures for performance reviews. Because of what I learned in PRO, we traded in our annual review schedule for biannual reviews. It works much better."
Much of PRO's success lies in what Silverstein refers to as "the power of peer power."
Jody Haas, the chairwoman of Resource Technology Associates, a Des Plaines recruiting firm, is one of Silverstein's original members. She has attended PRO meetings for more than a decade and has seen her share of ups and downs.
"When business is slow," says Haas, "You need to be able to discuss survival strategies with people who understand your business. The exchange of information is of great value to me."
The typical PRO member is an entrepreneur who not only wants to grow his or her business, but is willing to accept and give criticism freely. Although members come from a wide range of white and blue collar industries-ranging from manufacturing and distribution to service industries and professional services-most earn $2 - $5 million in annual revenues.
Members pay an initial start up fee, along with a quarterly fee ranging from $550 - $825, depending on company size. Since PRO's member retention rate exceeds 90%, it is clear that most PRO members find it a worthwhile investment.
In addition to the camaraderie, members appreciate the fact that PRO forces them to set goals, address issues, and define problems.
"Can you do it on your own?" says Silverstein. "Sure. Are you likely to? Absolutely not. That's one of the secrets PRO members know."
For further information or to interview Ray Silverstein, please contact Lekas & Levine.
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