What is an important component of business success that is extremely valuable, frequently lost, but infrequently missed? If you guessed perspective, you are correct. It is easy for a business owner or CEO to lose perspective because they often feel isolated and alone at the top of the corporate pyramid, and they do not know where to turn for assistance.
They are also often unaware that they are in need of fresh perspectives to help them deal with their problems. Where can entrepreneurs and executives who are in uniquely high positions in their organizations turn for objective advice that will provide an outside perspective and help them effectively manage challenges? The answer frequently lies in executive business coaching and peer advisory groups.
Top executives throughout many diverse industries will attest to the benefits that accompany working with a professional business coach. As individuals situated outside an organization’s structure or hierarchy, perhaps the biggest benefit provided by executive business coaches is the clarity and feedback they can offer from an outsider’s point of view. They can help others see cultural or operational flaws within a company that insiders miss, and their knowledge, experiences, and insights can be helpful in developing plans for improvement in those areas. Business coaches also act as sounding boards for their clients, offering them opportunities to brainstorm ideas or simply to talk through issues with someone without worrying about negative ramifications. Business coaches can also assist in the improvement of skills, help maintain accountability, and reinforce positive thinking, actions, or developments. For a corporate executive, CEO, or business owner, a business coach can be invaluable by serving multifaceted functions as a coach, therapist, consultant, and pseudo-drinking buddy.
Peer advisory groups function differently but can offer many of the same benefits that come with having a business coach. Members of a peer advisory group may come from different professions or industries, and they may even come from organizations of varying types and sizes. Of course, such groups may also be comprised of professionals from the same industry or similarly sized organizations. Meetings are conducted in a professional manner that is meant to inspire trust and facilitation among the group members so that members can feel free to speak openly with similarly situated individuals who can offer suggestions, insights, and advice to other members’ problems or to industry-wide challenges. Goals and objectives can be established and set for each member of the group, and the peer pressure inherent in the group setting can be a driving motivator for each member to meet expectations. If expectations are not met, solutions and ideas can be offered by other members of the group to facilitate future success. The perspectives that can be revealed by one’s comrades during these regularly scheduled meetings can lead to lasting success for each member and their respective companies.
If you are an entrepreneur or executive who is struggling to gain some perspective on what ails your organization, consider seeking assistance through a business coach and/or peer advisory group. Each can provide the external vantage points needed to help you make important internal improvements both privately and professionally. After all, if the world’s greatest athletes, entertainers, politicians, and businesspeople rely on coaches, peers, and mentors to help them reach the peaks of their professions, shouldn’t you?
Leadership Excellence is pleased to offer individual executive coaching services as well as peer advisory groups using the highly acclaimed Vistage© program facilitated by our Cleveland executive coach and Vistage Chair, Greg L. Thomas. Click here to request more information about our dynamic consulting services or schedule a free, no-obligation phone consultation with Greg to see which program will work best for you.