Why You Should Join a CEO Peer Group

First and foremost, it was some of the best information I ever received while trying to run, grow, and sell a successful business. Worth every penny and more for the information, connections, and access to resources. I'll try to address some of the positive elements that may not immediately come to mind.

It's lonely at the top:

If you own and/or run your business, there are very few people that understand what you are going through. "Heavy is the head that wears the crown" as they say. It may sound cliché, and probably doesn't get much sympathy, but this is 100% accurate. You don’t have many people with similar experiences to get truly effective feedback from. You don't need to go it alone.

Trial and error:

Many business owners are on their first stint running a business, so you have to figure it out on the fly. This means trying things, evaluating, changing, etc. These are critical skills, but even just a small amount of advice from someone who has slogged through some of the same issues is worth a lot in terms of your time and effort.

Friendship / Camaraderie:

When you share and hear about the personal and professional experiences of your colleagues you develop long-lasting relationships based on trust and mutual respect. It's not vendor/client or friends, it's something different and valuable. You can talk about issues like wealth management and other personal elements that your friends or relatives may not understand or be comfortable discussing.

Connections / Networking:

People who get to the CEO level tend to know people. They are go-getters and networkers. When you establish trust with a group of CEOs they will introduce you to their network of trusted professionals and colleagues. You can get first-hand referrals to the right people who will actually return your call because of the person who introduced you. This is a great way to find the right people quickly when you need a referral.

Board of Advisors:

Many of the members of these groups consider their peers part of an unofficial board of advisors. The advice, feedback, ideas, and encouragement are closely related to those same benefits. Many of the members also make themselves available outside the peer group as sounding boards and giving assistance whenever needed.

Breadth of Experience & Leadership:

Where else can you find the density of leadership, entrepreneurship, and wisdom in a single room where you can get their undivided attention to help you with your problem. Many of the members are on their second, third businesses, having gone through acquisitions and starting all over again. They continue to see the value of learning from their peers in an ever-changing economic climate.

Accountability

Most CEOs do not get the kind of accountability in their organization that they need. People tend not to remind the boss or owner about their obligations. A good leadership team will, but many people find this requirement comes from within. The roundtable will hold you accountable for the goals you set, remind you about them, and help you achieve them with monthly reinforcement.

Spotlight / Business Review

Part of the CEO Roundtable is that members take a turn each year being in the spotlight. This is similar to an overall business review. The other members get a deeper dive into your business, the financials, strengths, weaknesses, and your goals. This dedicated session is a great way to get advice from other experts about how to overcome obstacles or see aspects of your business in a different way.

Services:

One of the aspects of a running business we often overlook is the need to build a large number of vendor or service relationships. Accounting, HR, legal, real estate, banking, marketing, etc. These services can be overwhelming to find and manage. The Roundtable has been great at recommending these services because they have hands-on experience. This is a great place to help build your external team.

Exit Planning:

Many of the CEOs have already built and sold a business. The connections and unique knowledge you gain from building a book and marketing/selling your business is invaluable. This is one of those deals you don't want to get wrong because you don't get to try it again. Learn from people who have done it before and let them help you avoid some of the mistakes that could cost you millions of dollars.

If you are interested in joining CEO-Roundtable please reach out to me via LinkedIn or the Contact page