Where business agility meets peer advantage
The Power of Peers has a number of stories of businesses that navigated the 2008 financial crisis. They didn’t survive or thrive because they were better than their competitors. They survived and thrived because they were better prepared. These CEOs and business owners could rely on the advice and perspectives of their peers to figure out what to do. “You need to be able to stand on the shoulders of other CEOs to get a better vantage point,” says Leo Bottary, co-author of The Power of Peers.
Vistage Chair Mike Richardson says you cannot underestimate preparation. You always need to be planning for what might be taking shape next. That only happens if business leaders are open, transparent enough to challenge how they see the world and be willing to challenge what they’ve always done. “It’s not the strongest who survive, it’s the most adaptable,” Richardson says.
The problem, counters Bottary, is that not everyone knows they’re underprepared, unless you’re with a group of peers who can point that out.