Masterminds for CEOs Business Growth?
No CEO can build a successful company alone!
Being a professional coach to many CEOs, Executives, and Leaders, I often hear a common slogan: "it's lonely at the top"! In fact so lonely that a recent CEO Survey by Gravitas Impact indicated that 77% of CEOs of Small Medium Enterprises (SME) were taking a Do-It-Yourself approach as a primary means to dealing with challenges. Many CEOs are high capable people with a determination, drive and attitude that gets results. So what's the risk when going it alone so often? Maybe heading in the wrong direction with similar determination and drive? In the same survey, it was highlighted that between 50-75% of CEOs were challenged with their most pressing problem centering on strategy and execution. The capacity of the human brain and our ability to effectively focus on resolving problem after problem is limited. We know stress limits our window of thinking and can impact getting the most effective perspective on difficult situations, choices, and decisions. This can be costly.
"When you’re working heads down, pushing forward to develop a better future for your business, you’re missing one thing — a fresh perspective." (YEC)
Executive coaching is a powerful and rewarding approach for many CEOs where working one-on-one with a thought partner allows the transformation of thinking. My best clients are take-charge people who are coachable and open-minded. They are highly determined and intensely motivated to accomplish whatever they set their sights on. Often, their successes have created engrained patterns of thinking and behaviours that are now limiting their performance as business circumstances change and the needs of the business grow. Coaching provides an effective forum to question their own perspectives yet there are other options that can be beneficial.
While others may join CEO "roundtables", these often cater to large organizations, are expensive and may focus more on policies depending on how they are set up and facilitated. Mastermind groups can provide a very effective peer advisory group for most SME CEOs. Groups tend to be smaller, local, more cost-effective and help provide advisory perspectives and shared experiences from other non-competing businesses within the region. They will often include a small learning component and dedicated space for each member to do a deep-dive on a challenge they need specific help with. Meetings are confidential, private, and normally facilitated by an experienced business coach who is trained in questioning and problem framing techniques to help the group move through a collaborative process of discussion to surface innovative solutions.
A mastermind group is a peer-to-peer mentoring group used to help members solve their problems with input and advice from the other group members. The concept was coined in 1925 by author Napoleon Hill in his book The Law of Success, and described in more detail in his 1937 book Think and Grow Rich. Today, mastermind groups continue to thrive for many interests.
“No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind [the master mind].” ~ Napolean Hill
How does a business mastermind group work? For each meeting the main agenda is determined by group itself and focuses around the exploration of a business challenge that comes from a member. Participation is crucial to the success of the group as a whole. Mastermind partners give feedback, help you brainstorm new possibilities, and solutions to tricky problems. The professional facilitator guides the discussion to keep it focused and on track. The outcome is action-learning focused so members can take away real solutions to apply immediately in their business. Members create a community of supportive colleagues who brainstorm together to move the members to new heights. You’ll gain tremendous insights that improve your business and personal life.
10 Key Benefits of Joining a CEO Growth Mastermind?
Help making timely decisions
New ideas and insights
Improve your business by thinking bigger
Grow your game and energy
Grow your trusted network
Immediate, high-value feedback
New learning and growth habits
Collaborate on challenges and opportunities
Accelerate your growth ahead of competitors
Develop accountability for success
Time to shift in a different direction for growth instead of trying to do it alone? Start by registering for our upcoming GrowthMASTERMINDS to get started.
As a Agile Growth Coach & Certified Business Coach, I utilize my professional expertise every day to ensure clients I work with can successfully ask the right questions to find solutions right for their organization. The 7 Attributes of Agile Growth® provides a proven, practicable and profitable path for companies, non-profits, and local governments who want to move beyond their current performance.
Jerome Dickey, MA, ACC, CPHR, Q.Med