For most CEOs, their jobs have been evolving since they first started the company. Many were experts in a trade or a skill and were able to build a successful business on that expertise. As their business grew, however, they found themselves faced with new types of challenges, such as learning how to manage managers, how to delegate effectively, and how to communicate the vision and mission of the organization.
CEO peer groups provide a way for leaders to get outside perspective on their businesses. While they carry certain advantages, there are also some disadvantages. In this article, we consider both the advantages and disadvantages of CEO peer groups, closing with an alternative.
Advantages of Peer Groups
A successful peer group is one that meets regularly, usually monthly, and provides a forum for CEOs to learn from one another. Perhaps someone in the group has experience with the type of challenge that another person is facing, or maybe someone can recommend a consultant to help with a particular issue. Typically, groups will choose a topic each month and select a book or a video to focus their discussion.
Peer groups also provide the discipline of structure, giving CEOs a set amount of time to work on the strategy of their business, as well as accountability for decisions made and implementation of those decisions.
Finally, peer groups provide community. The experience of being a business owner and CEO can often be a lonely one. Even during times when the answers aren’t obvious and there are no immediate solutions, the time spent with people who understand the ups and downs of your situation can be tremendously encouraging. Maybe you didn’t need a specific answer, just the reminder that if you keep going, the answers will come.
Disadvantages of Peer Groups
While there are many benefits to CEO peer groups, there are also some disadvantages.
The exposure to a variety of ideas and experiences can be beneficial, but can also be haphazard, relying on the latest trends rather than on tried-and-true practices that have been proven to work. The lack of focus can result in wasted time and energy—going skin-deep into an ever-revolving array of topics and never deeper into solutions that bring results.
Another disadvantage to peer groups is that you aren’t likely to get a clearly delineated path for moving forward. You will get advice and hear personal experiences, but those may not translate into concrete action steps.
Along the same lines, there is no finish line when it comes to peer groups. While continuously meeting with other business leaders can provide some degree of structure and accountability, there is no ultimate goal of being equipped to the point where you no longer need the group.
An Alternative to Peer Groups
Working with a trained and certified coach or adviser provides many of the same highlights as a CEO peer group but with added benefits. In addition to support and structure, Certified ReWilders also provide the following:
Holistic approach – Rather than jumping from one topic to another, Organizational ReWilding works in a holistic fashion. After first assessing the overall health of the business, the areas to pursue are strategically chosen in such a way that brings about the greatest benefit for the entire organization. Surface symptoms can obfuscate the real source of issues; Organizational ReWilding works below the surface to address root causes.
Deeper impact – By addressing root causes to issues, Organizational ReWilding makes an impact that is both deep and lasting. Just as is true in nature, the rewilding process involves making a change in one area and seeing a ripple effect as the results of that change impact other areas. Part of the process for business owners is learning new concepts at a deep and practical level, and then infusing those concepts into their business.
Work path – Diagnosing the problem is only the first step to finding a solution. When you work with a Certified ReWilder, you will be given a clear path to follow, complete with accountability, goal setting, and reflection. You will have tangible tasks that will move your business forward and clarify your values and mission.
Pre-determined time frame – Deep and lasting change doesn’t come about overnight. Organizational ReWilding is a process that takes time—typically, anywhere from 9-24 months, depending on the needs of the business. However, there is an end to the process; it is not designed to last forever. The goal of Organizational ReWilding is to equip and train business owners to effectively navigate growth long after the engagement is over.
If you are looking for a community of like-minded peers with whom you can regularly connect and learn from, CEO peer groups are a great option. For more focused, hands-on work specifically tailored to your business, consider partnering with a Certified ReWilder.
If you’re ready to talk to a Certified ReWilder, contact us today! Our network of Certified ReWilders spans the globe. We’re ready to partner together with you to tackle the challenges facing your business and bring lasting, impactful solutions.