Online Golf Courses

Let us say that you are a senior executive -- now, or hopefully in the future. You may be wary of participating in many of the online networks. Why? Online networks are typically much more accessible than face-to-face networks -- you don't have to fly all the way to Aspen to meet people at the ski lodge there. As a result, they tend to attract a lot of the "have-nots." With no disrespect, the "have-nots" are the job-seekers, the recent college graduates, the pre-revenue startups seeking funding, and all the other people who are trying to get something, but have a small power base. The "haves" are people like you: the senior executives at prominent companies, the venture capitalists, and all the other people who are deluged with people trying to access them.

There are two ways to design an online network to attract the "haves". One is to design it so requests to members must pass through social filters. That's the LinkedIn approach; I can only send a request to Bill Gates if one of our intermediary connections is willing to say my request is reasonable. The other approach is to make it hard to enter the network in the first place. For example, to join the International Executives Resource Group, you must pass a telephone interview, have a salary of over $150,000, and have at least five years of international executive experience. (Disclosure: David Teten is a member.)

There are unique considerations to keep in mind when designing an online network that works for senior executives. Business coach Gayle Lantz runs an online group for senior executives whom she supports, and she lists some common characteristics of executives to keep in mind when forming any kind of executive peer group:

• They desire trust. The greater your seniority, the more difficult it is to find others at similar levels with whom you can build trusting relations.
• They value time. They may not all be worth $300 per second like Bill Gates, but they recognize that time is scarce.
• They have difficulty staying focused. Many struggle with issues related to self-management.
• They are goal driven. Achieving self-accountability and helping others be accountable is a means to help achieve these goals.
• They lack candid feedback. Many executives express concerns about others telling them what they think they want to hear versus what they need to hear.
• They are stressed. In April 2004, the Mayo Clinic reported that stress was #1 among executive health concerns.

All of these needs can be addressed through some kind of executive peer group, preferably with both a face-to-face and online component. In our conversation with Gayle, she listed five key reasons why executives participate in executive peer groups:

• Peers they can trust. The trust comes through an established screening procedure, combined with ongoing interaction opportunities.
• To stay focused on the big picture. Being among peers and talking about your priorities on a regular basis enables you to stay more focused than you might be otherwise.
• Accountability. It's not unusual for a member to ask the group to help him do what he says he wants to do. By stating your goal or action plan in front of the group, it is more likely to get done.
• Objective perspective. They crave candid feedback and ideas to help move their businesses forward.
• Reduced stress. Being able to discuss any potentially sensitive issues with objective peers in a safe environment helps you gain better perspective and process ideas in a constructive way.

If you are running an online network, you do not need sophisticated technology. A free Yahoo! Group will suffice; that's what Gayle uses. Here are ways in which online communication between regular meetings has created more value for Gayle's group members:

Online communication aids a crisis situation.
For example, if a member suddenly loses an employee, whether it's the CFO or a personal assistant, the member can broadcast the announcement to the group. The network is ready to provide quick ideas, resources, or simply moral support that's needed without waiting until the next regular meeting.

Members can test or preview new products, programs, and services.
A member of one of Gayle's groups requested feedback on a new online program in the financial services industry. By sending a link to the group members, they could experience the program firsthand and provide suggestions on how to position the product.

Meeting logistics are handled efficiently.