The old saying is “It’s lonely at the top.” In scary times, it’s really lonely at the top. In the April, 2009, issue, Harvard Business Review (HBR) attempts to answer the question “Who Can Help the CEO?” HBR recommends, in so many words, CEO Performance Roundtables.
By Wayne Rivers
The situation in the article is a busy executive who has just lost a highly valued and trusted employee. His business wasn’t doing as well as he thought it could, and he really had the urge to talk to someone about his next moves. He spoke to a mentor, but the mentor was so busy that he didn’t really have time to solve the executive’s problem. The CEO’s wife was away at a conference, and he hated to burden her with his problems at work anyway. He talked to a golf buddy, but pretty quickly into the conversation realized that he wasn’t of much help. He didn’t know where to turn. Surely he couldn’t burden his employees with his troubles; he was supposed to be the strong, intrepid leader. No one seemed to understand his situation, and he didn’t know where to go for advice. DOES THIS SOUND FAMILIAR? Two of the three experts responding to the HBR case study recommended CEO peer groups. They cite the benefits as being able to get troubles off your chest to a larger group that experiences the same ups and downs that you do and the supportive environment which gives executives license to seek help leading to better decision making and better development of their leadership. CEO Performance Roundtables for contractors serve three primary functions: 1. the group focuses on construction best practices; 2. the group engages in peer review to help executives identify and deal with problems effectively; and 3. the group becomes an informal Board of Directors supplying leadership advice and direction. Since other CEOs either have or will experience the same real world problems you have, it makes for a perfect sharing and advice group. It is very helpful to get away from the office for a few days and focus on not only making my company better but also improving other companies. Sharing successes and failures and tapping into the experiences of other contractors is beneficial. I cannot say that I have had my best year since I have been in the Roundtable group, but the four years I have been in the group have been the best four consecutive years we have had in over 30 years! I would recommend that any contractor interested in getting better and feeling good about where their business is going join a Roundtable group.John Lee Rock City Construction Co. Franklin, TN
The CEO Roundtable has provided our company with so many enhancements, it’s hard to name just a few. It is one of the few ways to get true benchmarking information to see areas you are doing well and areas you need to improve. The SWOT assessment shows strengths, weaknesses, opportunities, and threats that assist in your company’s ability to compete and succeed in a very demanding market. The safe and secure format of the program allows for total honesty and disclosures with people that understand your business and can help to improve your processes and procedures. Finally, the information on succession planning was great and assisted us in the transition to the next generation.Harvey Bessette Bessette Development Lake Charles, LA
CEO Performance Roundtables are powerful business tools even in good times. But in challenging economic times their true impact becomes more evident. To learn more, visit the CEO Performance Roundtable web page at www.familybusinessinstitute.com/agc-program or contact Jack Ford at jford@familybusinessinstitute.com or 877-326-2493 x231.
Wayne Rivers is the president of The Family Business Institute, Inc. FBI’s mission is to deliver interpersonal, operational and financial solutions to help to help family and closely-held businesses achieve breakthrough success. Wayne can be reached at 877-326-2493 or info@familybusinessinstitute.com