An Impeccably Engineered CEO Development Tool

Curious about peer advisory groups? Here’s a peek under the hood of the preeminent executive development organization, Vistage

I trained but never practiced as an engineer, but the engineering mindset has stuck with me for a lifetime. Whether I was in management consulting, product development, wholesale distribution, manufacturing, or real estate—even as an elected official here in Fairfield, Connecticut—I carried with me a sense of curiosity and a willingness to experiment.

Both have served me well and, I believe, are key to this moment in time for business leaders. Now more than ever, we know that the next five years will be different in almost every respect than the previous five. We’re all going to face things we never have before and we’ll need new tools to help us through.

One incredible resource available for CEOs and business owners is a Vistage peer advisory group. It’s a model that’s stood the test of time. Vistage was founded in 1957 and has helped thousands upon thousands of executives become better leaders, make better decisions, and deliver better outcomes. ?This long “service life” impresses me as an engineer and is part of the reason why I became a Vistage Chair.

If you’re unfamiliar with Vistage, you might be wondering what’s under the hood, so to speak. Four key membership benefits work together to create what is, in my opinion, the most effective concept for executive development.

#1 A Group of Peers to Share Insights and Support Each Other

The foundation of Vistage is the peer advisory group, a small cadre of business owners and CEOs in your area. This group meets once per month, in person, to exchange information and perspectives and strategize together to help their businesses achieve great things. The idea is to take time away from the day-to-day, “in the trenches” concerns of running a business in order to work on the bigger picture issues and opportunities.

Getting together with your peers in this manner may sound simple but it works. Companies led by Vistage members grow 2.2 times faster than the competition and outperform during challenging economic times.

Accelerating business success is enough to recommend Vistage to many owners and executives. I’d like to throw out that my group, however, takes the idea of supporting each other to another level. We’ve made it a habit to hold our intensive sessions with the peer advisory group and then to do something to bond on a personal and social level. It might be a golf outing or a dinner with all the spouses, whatever it takes to get beyond the surface.

Perhaps the biggest surprise I’ve encountered is how fast a group of strangers who joined a business organization could become a group of friends who lend each other support in nearly every facet of their lives.

#2 Direct Interaction with Elite Subject Matter Experts

How will you know about coming trends in wages and compensation? What’s the best way to reset a company’s culture, become a better leader, or drive growth through sales and marketing?

You can find out through Vistage. The organization invests heavily in proprietary research and educational resources available only to members. The speakers’ bureau, in particular, is highly renowned.

Elite subject matter experts come to our small group sessions. I’m talking about the types of thought leaders you might see on a national tour, authoring best-sellers on business topics, or maybe giving a TED Talk. They offer insights on topics ranging from peaking your profits to results-driven social media.

A prominent individual joins us in conjunction with a peer advisory group meeting at least every other session. And not only do they present their thoughts to us, they collaborate with the group, addressing our specific issues and answering our questions. It’s a rare opportunity to interact directly with some of the best minds in their particular fields in a small, confidential, open-minded environment. ?

At a recent meeting, for example, my group invited a thought leader with much to offer on how to thrive in chaos. The information and advice were, as you’d imagine, invaluable right now.

#3 A Coach to Hold You Accountable

Changing at the pace of the current times can be difficult. I’m sure you’ve experienced this before: You have a good idea what you need to do about a problem, but you’re struggling to overcome the hesitation and confront the difficulties or interpersonal issues involved.

Coaching, which is included in Vistage memberships, helps executives deal with such situations. Working individually with a Vistage Chair for up to two hours every month can provide the extra confidence to push you through the barriers in you path. We can also get further into details about your key issues and opportunities, professional or personal goals, or other topics.

Don’t worry, my job isn’t to tell you what to do. I’ll ask you what you think you need to do and we can work through various options. Then I’ll follow up to find out how it’s going. For many members, simply having such a conversation on the schedule is enough to prompt action over procrastination and deliver significant upside for their business and life.

#4 A Global Network of Executives

A peer advisory group works, in part, because it’s small. It’s a welcoming, intimate environment in which to explore difficult topics with local leaders from non-competitive industries, as well as with the highly recognized speakers we also invite.

The Vistage network, on the other hand, is huge—over 23,000 members strong. When you need information or suggestions from executives in the same sector or field, there are special interest networks and other resources to help. What’s more, nearly every Vistage member on the planet (and yes, there are members around the globe) will give freely of their time to assist another member, answer a question, or point them in the right direction.

I can’t tell you how many times I’ve made use of the Vistage network to help me improve as a Chair. Imagine what these people can do for your business.

A Tool for You?

My engineering background instilled in me the understanding that I don’t have all the answers, along with the desire to go out and find them. Such an inquiring attitude is a good match for Vistage, for me as a Chair and the members who come together to ask probing questions in order to help each other achieve their unique goals.

If this sounds like the professional and personal development tool you’ve been seeking, reach out to me here. We can discuss whether you're a candidate for my group, or I can introduce you to a Vistage Chair in your community.