How To Choose the Right CEO Peer Group for You

By imarketing

Turns out that old expression is true: it is lonely at the top.  As just about every CEO knows, it’s easy to feel siloed in what seems like an echo chamber, even after you’ve carefully considered feedback from talented managers, customers and staff. Because no matter how you cut it, the buck stops with you and ultimately, big decisions rest on your shoulders. Which is why CEO peer groups are an effective way to break out of the echo chamber and get feedback and advice from peers who understand your situation— because they’ve been there themselves.  Who Can CEO Peer Groups Help?  In general, CEO peer groups help business owners and managing partners capitalize on opportunities, kick-start growth, and accelerate the learning curve in a structured environment designed to foster the “cross-fertilization of ideas.” More specifically, they help: Time-Crunched CEOs and Business Owners Business owners and CEOs often say they’re so consumed with day to day challenges they don’t feel they’re spending enough time focusing on long term strategy. Peer groups give you the opportunity to use uninterrupted, focused time to brianstorm strategies that have the potential to increase revenue and solve big problems. Seeking New Perspectives on Challenges and Opportunities CEO peer groups can help you see new perspectives on a problem with the goal of finding alternative solutions. And often, frank feedback from other members not beholden to them can help adjust their own perspectives and managerial and organizational approaches.   Seeking Support and Advice from Other CEOs…

7 Benefits of Joining A CEO Peer Group

By imarketing

Anyone who has read Napoleon Hill’s often cited business classic, Think and Grow Rich will be familiar with the business use of something called a Mastermind Group. Hill’s book recounts how many successful business people rely on a small, tight-knit group of advisors to help them build their businesses. At Steiner Business Solutions, we’ve long been an advocate of assembling a group of peers to help you grow your business. As an entrepreneur or CEO, you often lack both the filter and the sounding board you need to see things bigger ways. The right CEO Peer Group can provide these benefits: #1. Accountability – Simply stating your goals and objectives to a group that intends to hold you accountable for your stated result can have the kind of pull that keeps you focused on meeting your goals #2. Growth – Many CEO peer group members form strategic business relationships that bring additional revenue streams and growth opportunities #3. Specific knowledge – A group comprised of people from different backgrounds and industries can help you fill gaps in your own knowledge and provide very specific help #4. Resources – Your group members may very well end up loaning and providing the kinds of resources and introductions that can help you get to the next level in your business #5. New perspectives – Sometimes having someone from outside your industry question your long-held beliefs, or suggest innovations from a new point of view, can prove very helpful #6. Support – As a group forms a very close common bond, this…