Sixty years does not seem like a long time in the great scheme of life, but that is how long 20 Groups have existed! The first 20 group formed in 1947 in Kansas City, MO. That group is still in existence.
The longevity of 20 Groups attests to the value of these groups. The 20 Group provides group members the most innovative resources for obtaining information and ideas. The concept is for 20 dealers (or any business) of similar size and a common manufacturer (or industry) to meet on a regular basis for an exchange of ideas. Members help each other solve problems, offer support, and share experiences. If a potential member is not willing to share successes and "defeats" with the others, it is not a good match. One caveat is that the dealers must not be direct competitors; therefore, they are able to disclose financial details. Members utilize a financial compilation composed of each member's financial data. A comparison of the numbers to the industry's financial model helps members to discover areas that need improvement. Confidentiality of all information provided is crucial to the program's success.
A third party usually facilitates the meetings; however, the group generally elects its own officers, prepares its own agenda and goals. These goals are an important element of the concept. At each meeting, individual members are queried as to whether or not he/she has met his/her goals. If goals are not achieved, the rest of the group will ask "Why not?" In this method, assistance or ideas are offered or suggested.
The number one goal of the 20 Group is to grow your business. The group identifies strengths and helps correct weaknesses of each member. The 20 Group is a very economical method to obtain valuable assistance or guidance from "consultants" who really understand your business!
Criteria for a good 20 Group:
Discerning selection of non-competing members
Each member must be a group or team player-ready to offer advice, share ideas, and discuss problems of his/her own
Member must be willing to share financial information
Member must be willing to spend the time preparing for and attending each meeting
Trust in each member
Various other prerequisites set by existing members
Frequency of meetings depends on the members' wishes. In many cases, the meeting will run 2-3 days at an off-site location. After the session each day, the members socialize with each other. Spouses and family are often invited. Group members often bond with each other and many friendships are made.
If you are interested in forming a 20 Group, please call 800-344-4100.
