The Profound Impact of Storytelling Among CEO Peers

At the age of five, I witnessed my elder sister’s misadventure while our mom was making spaghetti. My sister, in a moment of recklessness, reached over the pot when her retainer took an unplanned plunge into the hot water. Yes, that’s gross. Yet, the saga did not conclude with this accidental baptism. In a daring move, she thrust her hand into the burning cauldron on a mission to retrieve her retainer. I quickly learned never to stick my hand in a boiling pot of water.

Observing and learning from mistakes provides a valuable form of storytelling by offering insights into what not to do, guiding us to make more informed decisions. That’s why football teams watch game film. You can see how the defense screwed up and what went right, so players feel prepared. I find a strong correlation in coaching sessions with members of my Vistage group, the world’s largest corporate executive peer advisory organization. There is no better “game film” than the stories gleaned from hundreds of years of combined experience among CEO peers.

Humans are hardwired for narrative, a trait that predates the written word, as exemplified by Neanderthals gathered around a campfire, exchanging tales about the nuances of hunting and gathering. Whether troubleshooting challenges or gathering ideas, sharing stories and feeling heard are vital refuges during pivotal moments as a leader. This underlines the significance of storytelling within a CEO peer group setting. Here’s why stories matter:

Stories Connect Us

There is nothing like the feeling of relief when sharing a problem and seeing others nod in understanding. They might recount similar obstacles within their respective business or say, “It happened to me, too.” Shared experiences create an immediate sense of camaraderie, leading to the exchange of strategies and ideas that enrich our perspectives. Only another CEO can fully identify with today’s leadership challenges as life hits hard.

Stories Help Our Decision-Making

Akin to my sister reaching her hand in the boiling water, you can note what not to do as a fellow CEO recounts a challenging scenario, candidly discussing their missteps and pitfalls. Similarly, hearing about a peer’s strategic decision that led to substantial growth and learning those valuable insights is just as enriching. The shared wisdom from stories enhances the collective decision-making acumen and growth potential of the CEO network. Just by being present and listening, peers move forward, having learned what works best.

Stories Check Our Inner-Narrative?

It’s easy to forget our inner monologue and the stories we tell ourselves. After one of my Vistage members was particularly hard on himself in a meeting, another member raised their hand and said, “Did you hear what you just said?” The member got a little embarrassed until the other continued, “Dude, look at all you’ve done, and look at how you talk to yourself! Give yourself a break!” He sat up a little taller in his chair and agreed with a smile. CEO peers act as a mirror and make sure your narrative reflects where you want to be.

Stories Show Us What’s Possible

Stories connect us to solutions, possibilities, and hope. When you feel heard, and a fellow CEO understands your goals and responds with, “Here’s an instance when…” it may prompt the realization that achieving similar aspirations is possible without being told what to do. Storytelling offers a more memorable alternative to facts and statistics. People often relate better to stories because they can put themselves in it. They can see it, envisioning the possibilities and inspiration for reaching greater heights.

A Vistage Story

We engage in a practice known as issue processing within our Vistage community. CEOs share challenges to seek collaborative input and accelerate problem-solving together. Recently, a second-generation owner of a business, grappling with implementing a new vision, turned to the group for insights during our monthly meeting. Member peers in non-competing industries such as healthcare, transportation, and manufacturing asked great questions, iterated ideas, and shared their “for instances.” This swapping of stories led to a transformative realization of possibilities and a positive shift in his company’s culture in a remarkably short period of time.

…And Here’s My Story (the abridged version)

I was on site when the investment banks collapsed, and the big financial services firms laid off thousands of employees while working in the outplacement industry during the recession. Rather than spin platitudes or discuss the features and benefits of transition management, I harnessed the power of storytelling to connect on a deeper level. Amid the chaos, I met beleaguered executives with genuine empathy, allowing them the space to articulate their feelings and concerns as I asked them questions — part of the foundation that fueled my journey to becoming a CEO coach.

I’ve been a CEO three times and also an employee, including at Vistage, where I recruited people for my current position and just so happened to meet my wife. I’m built for this stuff. I can talk about scaling up and the bottom line, but I also understand there is a human being sitting across from me. In my Vistage peer advisory group, CEOs and business owners have one vision: to help each other become better leaders, make better decisions, and achieve better results. After our first meeting, my wife said I smiled for three days, and I told her I’d like to be doing this until the rest of my hair turns grey.

I’m actively seeking more members for the first Southern New Jersey-based group in Vistage history. If you’re an executive who has high-integrity, is humble-hearted, and you’re willing to give to get, let’s have a conversation. Connect with me on LinkedIn or email [email protected] — I’m eager to hear your story.