April 18

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13 Peer Advisory Board Statistics You Need to Know

By Andrew Martin

April 18, 2024


peer advisory board statistics

Are you thinking about joining a peer advisory board? Maybe you’ve read a little bit about the benefits of peer advisory groups, but you’re not quite sold just yet. You want to see some proof that peer advisory groups actually achieve real results for business owners.

Here are some key peer advisory board statistics that offer insights into how these groups could actually benefit you as an entrepreneur.

Stats About Peer Advisory Boards

  1. Small business owners that have an advisory board grow at nearly two times the rate of those who don’t have one (source)
  2. Having an accountability partner increases your chances of reaching your goal by over 85% (source)
  3. Having a regular, set accountability appointment with a person (or group of people) you’ve committed to gives you a 95% probability of achieving a goal. (source)
  4. You’re 65% likely to meet a goal after committing to another person, and your chances of success jump to 95% if you have ongoing meetings with your accountability partners to check in on your progress. (source)
  5. 86% of businesses that have access to an advisory board experience an increase in sales up to 24% and an 18% boost in business productivity. (source ; source)
  6. 64% of entrepreneurs who were members of peer advisory boards saw an increase in bottom-line profitability. (source)
  7. 56% of entrepreneurs who were members of peer advisory boards saw an increase in top-line sales. (source)
  8. 60% of entrepreneurs who were members of peer advisory boards saw an increase in productivity. (source)
  9. 86% of leaders from small and medium-sized businesses who were surveyed reported that having an advisory board significantly enhanced the success of their organizations. (source)
  10. The Harvard Business Review has documented that for every dollar invested in executive coaching (like the kind you can get in a peer advisory board), the average return on investment (ROI) ranges between $4 and $8. (source)
  11. Entrepreneurs who are mentored by experienced advisors see an average annual revenue increase of 83%, compared to just 16% for those without mentors. (source)
  12. For the companies studied, establishing an advisory board led to a 66.8% increase in sales over the first three years, compared to a 22.9% growth rate in the three years prior to setting up the board. (source
  13. 73% of business owners say they’ve felt lonely running their company and that they need support. (source)

Other Resources

Ready to Join a Peer Advisory Board?

If you’re ready to experience the benefits of joining a peer advisory board for yourself, Six Figure Dinners is here for you.

At Six Figure Dinners, our peer advisory boards create a collaborative space for entrepreneurs and founders to tackle essential business challenges, share collective wisdom, and gain diverse insights from each other’s experiences.

Our board meetings spark innovation and strategic progress, providing members with invaluable insights and strategies—known as “Six Figure Takeaways”—that drive their businesses forward.

Click here to learn more and join us as a guest at an upcoming event.

Andrew Martin

Andrew is Founder and CEO of Six Figure Dinners. He's also a co-owner of JARA Ventures, a venture capital firm that invests in and operates businesses across various industries, including financial services, recruiting, digital media, and real estate. Prior to this, he owned and managed 11 Menchie's Frozen Yogurt locations and a Menchie's Food Truck, which he sold in 2014. Andrew's other investments mainly target small to mid-sized consumer industries.

He earned his MBA from UCLA Anderson School of Management, specializing in Brand Management. Before pursuing his MBA, Andrew led a sales territory at The TREX Company in Boise, ID. Throughout his career, he has volunteered in various capacities, such as offering pro bono mediation services and assisting underprivileged families in improving their living situations.

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