Not Just Any CEO Peer Group, Make Your Choice Wisely

Though it’s good to be the ultimate power, it can sometimes be devastating as well. Who can understand this statement better than a CEO of an organization? 

While reading an article on Forbes, ‘The Worst CEO Screw-ups Of 2012’, I got to know about some CEOs who have to lose their powers and influence for inefficient performance, continuous losses or for some decisions going wrong.

The list includes some reputed and renowned names including Aubrey McClendon, CEO of Chesapeake Energy; Brian Dunn, former CEO, Best Buy; Robert Diamond, CEO, Barclays; Stuart Gulliver, CEO, HSBC among others.

Though a CEO sits at the top in an organizational hierarchy and is the most powerful identity, he is lonely at the same time. He has a panel of experts and board members to seek advice and counseling but there are some situations when he would require the experience and expertise of someone of the same stature and role.

I am talking about CEO peer groups where CEOs can seek resolution to their problems and concerns from like-minded people. No doubt, a CEO association or CEO group is a great place to help CEOs deal with their woes but the purpose can be solved only if you knock at the right door. With so many CEO associations around, it gets very difficult to zero on the right one.

This article provides some suggestions on how you can choose a good CEO peer group.

Attract Varied Expertise

Look your CEO associations that offer a wide range of skills and expertise so that you can seek advice on different elements of business ranging from a how to build a start up to exit planning.

Stay Small

For a CEO group, the ideal size is 10-15 members. In a relatively larger group, it may have to wait for long to get heard or find a resolution to your query.

Secrets are meant to be kept

The clause of confidentiality is the most important factor to be considered before joining a CEO peer group. At times, you may have to disclose your secret strategies or plans to seek suggestions or feedback from the group.

Therefore, make sure you join a reputed CEO group that strictly follows the oath of confidentiality.

Non-competitors should join

It is very important to ensure that your peers in the group are from non-competitor businesses so as to avoid any conflict of interests.

Good Facilitators

The effectiveness of a CEO association is assessed by its facilitators. Know in advance the facilitators in your group and what expertise they possess.

Ideally a facilitator should be capable of making a conversation interesting, resolving conflicts, responding to queries and building a healthy atmosphere.

The Brain Trust is an Executive Peer Group constituted of up to 16 non-competing business owners/CEOs and top executives.

Brain Trust CEO Conferences benefit you through the combined experience of other business leaders from non-competitive domains and the expert facilitators.

Successful Exit Planning Is A Long Well-Planned Process

Does the idea of selling your business frighten you? For most CEOs or presidents, selling a business is often a nightmare. You can't sell your business just right away. Exit planning is a long, well-planned process. Usually it takes around 5 years to carry out a successful exit plan which would yield profits for you. Prospective owners look for businesses which guarantee regular cash flows and you have to fulfill that criteria to make your business sale-able.

In an exit planning process, you need to consider a number of vital issues such as chalking out a succession plan, providing intensive training to key employees, tracing a suitable buyer and so on. What most CEOs find difficult to decide is whether they should focus on asset diversification, create a brilliant management team which can take over the business when they exit and so on.

Usually CEOs remain so occupied in day to day business activities that they don't get time to plan out an effective exit planning strategy. Most of the times they find themselves in a fix where they don't understand which is the right way for selling their business. No wonder CEOs find it tough to find a competent successor who is willing to take over the business happily and where they also stand to gain maximum profits on selling a business.

Hence it is wise to take the help of CEO peer groups in Atlanta or any other city if you are thinking of exiting a business. Consulting a CEO Peer Group or CEO Conference is always a better and more cost-effective alternative to expensive consultants who charge you by the hour. CEO groups typically meet once in a month and consist of CEOs, managers, presidents and COOs from different industries. They share their business related problems, and counsel each other. So if you wish to sell your business, you can freely discuss about your problems and make out a successful exit plan with the help and experience of other CEOs.

Four Tips To Choose A Good CEO Peer Group

Are you one of those who is thinking of joining a CEO peer group? A growing number of CEOs and other top level executives these days turn to CEO peer groups in Atalanta or any other city to provide them with the much needed guidance. However it is very essential to choose a CEO conference which suits your needs. As a good CEO group can help you achieve greater results in your business whereas a bad choice can be a sheer waste of time. Here are  four useful tips to help you select a good CEO group:

Tip no. 1:

Go for a CEO group which consists of a 10 to 15 members. Stay away from a CEO conference which justifies having a larger number of members as in that kind of group you will have to wait for a long time to be heard.

Tip no. 2:

Select a CEO group where attendance record of members is consistent. As any CEO group with a shoddy attendance record of members will never be able to establish and retain the  atmosphere of trust and confidence.

Tip no. 3

Join a CEO group where confidentiality is taken seriously. After all, CEOs share their problems, business ideas, exit planning strategies and so much more openly with other CEOs. Therefore confidentiality is a primary requirement in a CEO group.

Tip no. 4

Large success of a CEO peer group depends upon a facilitator. A facilitator makes certain  that all members are given a fair chance to speak about their issues and prevent any member from dominating the conversation. Make sure the the CEO conference you join has a good facilitator.

Generally, a meeting in a CEO group takes place once in a month where everyone discuss their problems, ideas and offer advice. Given that you will be spending a good amount of time in a group, make sure that you do a thorough research before joining a CEO peer group in Atlanta  or any other city. Keeping the four above-mentioned tips in mind will help you make the choice wisely.