Have you ever wondered why successful CEOs use outside business advisers and mentors? Just like many of the world’s leading professional golfers who have a coach to keep them at their peak, there are many benefits to be had by utilising business mentoring for CEOs. Here are 6 Key Benefits of Business Mentoring for CEOs and why you should consider using an experienced business mentor to improve your performance.
6 Key Benefits of Business Mentoring for CEOs
Successfully building a profitable business, year after year, has been compared to balancing an egg on your head, while standing barefoot on sharp knives. It’s not easy to do and a wrong decision can be a disaster.
Regardless of whether a business is publicly listed or privately held, family run, large or small, CEOs need a truly independent third-party adviser who can coach and guide them through the critical decisions they need to make in all business areas to exceed their personal and professional goals.
Often, CEOs rely on their own circle of influence for professional guidance using employees, boards, investors, business associates, family and friends to help them strategically decide and tactically implement business objectives. However, this circle of influence approach for business guidance frequently creates decisions that impede business improvement and growth.
For the best business improvement results, CEOs often need an outsider’s perspective to help them make tough decisions and integrate the 6 key areas of business improvement (strategy, sales, marketing, finance, operations and staff) to dramatically improve business performance and growth.
Having worked with many successful companies, we have identified six important reasons why CEOs of successful companies use outside business advisers to help them reach and exceed their business goals.
Business Mentoring for CEOs: 6 reasons why successful CEOs use outside business mentors
Reason 1
Outside business mentors are not emotionally attached to your business like you and your staff are.
Reason 2
Outside business mentors are not financially attached to your business decisions like your family, employees and investors are.
Reason 3
Outside business mentors bring industry best practices based on a broad range of experience and thought leadership.
Reason 4
Outside business mentors provide senior management a high return on investment compared to internal staff.
Reason 5
Outside business mentors help you find the gaps in your business model even when your company is growing because money and success can hide mistakes.
Reason 6
Outside business mentors help companies keep focused on the big picture and action steps required to exceed corporate goals without being distracted by day to day operations and issues.
Successful CEOs of best of breed companies have a history of using outside business mentors. Why don’t you?
Considering an experienced business mentor?
If this blog has inspired you to consider using an experienced business mentor we would love to talk with you about your mentoring plans.
Call me on 040 1767 639 or send an email to john@lindfieldpartners.com.au.
Good luck with your selection of a suitable business mentor whether it be for yourself or your CEO.