Being at the helm of a company can be quite lonely and difficult too. This is why most CEOs fall back on getting an MBA, reading books on leadership or simply learning as they lead. However, there is another method that can help CEOs learn more in a short time on how to become a better leader: getting into a CEO peer group. This comprises of a number of CEOs who are part of companies which are similar in complexity and size and who meet occasionally to tackle issues related to business. The groups can either be led by one group member or by a professional who boasts of business expertise. Here is why you should consider joining one as a CEO:
Accountability
If you are the leader of a small company, you probably don’t have a board looking over your shoulder or someone to cheer you on to up your performance. It therefore becomes hard being accountable to anyone while it’s been discovered that there are better results when one is held accountable. A peer group will help in this as you will be accountable to the other members.
Faster learning
Nothing beats learning while on the job. However, this might take a long time. The good thing is, when you are on a CEO peer group, you have about 9 to 10 CEOs who you can learn from as they guide you in overcoming issues in your business. Drinking from this well of experience will fast-track your learning and understanding on managing a company effectively.
Avoiding mistakes
Are you facing challenges in your company? There’s probably a CEO who’s encountered and overcome them. By listening to their experiences, you can learn from them and avoid making costly mistakes while taking advantage of opportunities that may come to you.
Become visionary
With the wealth of experience that a CEO peer group boasts of, you can plan for the future. You get to hear of challenges and opportunities encountered by the others and that are yet to happen to you. This means that when you get to this point, you will know what to do.
Support team
As a CEO, no way are you going to admit to your management team that you don’t know how to scale a wall or that you made a mistake because everyone is looking up to you. On the other hand, if you have a peer group, you can open up and speak confidentially. This will be a relief as you will not be expected to look smart at all times.
I don’t know about you but those are sufficient reasons to want to be part of a CEO peer group and grow as a leader. Join one near you or better yet, organize one if there is none in your area.
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