As Chief Executive Officer, you are expected to know everything, to handle all situations with aplomb and assurance, to lead your company with the confidence that you can do it all, and probably run someone else’s company with the same success. This would include virtual offices, as Marissa Mayer had to handle in the early days of her leadership of Yahoo. To others, it seems like you have the superhuman power to do it all on your own, and you might think that you have to somehow do it all by yourself. However, even CEOs can use a little support and guidance, and that’s where a top CEO coach or a peer group can come in.
You don’t have to do it all on your own, and as a CEO you shouldn’t. If you did, then you’re running something more similar to a regime than a company. A CEO coach or peer group helps you to become your best self, and when you’re the best possible self, you can have the best possible company. Here are four reasons why you need a Top CEO coach and peer group to provide the support and guidance necessary to take you and your business to the next level.
A Good Coach/Peer Group Emphasizes You
As a CEO, it’s easy to get caught up in the day-to-day of running the business, of making the important decisions and working to solve every crisis that comes up. This makes it difficult to worry about other aspects that affect your job performance, such as your health, your relationships, and your mentality. Sure, you can be professional at work and not let that fight with your spouse get to you, or excuse your poor diet and sleep schedule on the fact that you need to get work done and that you employees need you. That doesn’t mean a sour marriage won’t leak into the business, or that all that fast food won’t affect how your endurance and how your mind works. A good coach or a caring peer group can emphasize those aspects and their importance in running a company well.
Your Coach/Peer Group Doesn’t Work For You
Great! One less person you have to manage and to boss around, but that’s not the best thing about enlisting the help of someone outside your company. The best part about having the outside help of a CEO coach or peer group is that they can offer a fresh perspective on business decisions. Need advice on handling a troublesome employee? You can trust what your coach or peer group has to say, since they don’t know the person and don’t have a conflict of interest. Unsure about a current marketing campaign or on your overall business strategy? Your coach or peer group would not only have the expertise to answer your questions, but they also don’t have to worry about how the decision would impact them. For example, a marketing manager may want more time on an unsuccessful campaign to prove that it worked because it was his/her idea, when your coach or peer group would not have such a vested interest in the campaign or the decision.
Your Coach/Peer Group Could Help Tackle New Challenges
The point of having a coach or a peer group is because you don’t know all the answers, so it’s helpful to have someone, or a group of people, to help you find those answers. Virtual offices and workers can fall into this category, as it is a phenomenon that’s only become popular in recent years. It’s not a problem that all 20-year veterans in leading companies can answer and handle correctly. However, any other CEO or executive can bring to the table that fresh perspective, knowledge and experiences that you don’t have. That knowledge, expertise, and confidence is vital when you need help taking on new challenges, in finding new solutions to old problems, or even in getting feedback in what you’re doing right and wrong. This feedback can not only help you and your company reach its goals, but can also make clear what you are/aren’t doing, or what you need/don’t need to be doing in order to run your company well and to be the best CEO possible.
This applies more to the peer group than the coach, but both can offer additional networking opportunities. Peer groups often host events of their own, swap events that they’ve heard of, and share events that individual members are hosting themselves. Don’t forget that networking is much more than amassing contacts and hopefully getting a lead or two. It’s also about facilitating relationships that could even up vouching for you and your service down the road.
Overall, CEOs aren’t infallible. They are still regular human beings like their customer and employees, good people who from time to time need a little extra support and guidance. A CEO coach or peer group can do just that, and can probably provide much more than a friend or family member who doesn’t know what it’s like to run a company, or to work in your industry.