Why Every CEO Needs a Peer Group & Business Coaching
Many business leaders and CEOs feel a sense of loneliness at the top and turn to business coaching for guidance. Executives often feel like all of the big decisions are all on them — and they don’t always have a board of directors or objective group of colleagues to lean into. Those who have others to turn to wonder if there’s a bias or agenda to the input they receive — or if their peers have the kind of experience to be of high service.
When CEOs have a coach they can rely on as well as a CEO peer advisory group, it’s a powerful combination that delivers impressive results.
This guide aims to shed light on how wonderful business coaching is when done in a proven, structured way.
Table of Contents:
- What is business coaching?
- Four reasons you need a business coach
- Business coaching statistics you need to know
- Common business coaching questions
- Business coaching services
- Related business coaching articles
What is business coaching?
Business coaching is one of the best ways to grow your business faster, become a better leader and set a clear vision for your business — and an action plan for achieving it.
A business coach is an accomplished leader who generally has enjoyed decades of success as a CEO, top executive or business owner. Also referred to as an “executive mentor,” “CEO coach,” or “Chair,” your business coach should have formal training in mentoring others and should follow a structured framework for success. Business coaches know that personal issues can get in the way of work performance and visa versa, so most take a holistic approach to coaching and encourage clients to address any issues that they are facing.
Business coaching can help you clarify your thinking, prioritize your work, help you make more informed decisions, and hold you accountable — and on deadline — for agreed-upon results. Your business coach can also be a great source of support, a trusted ally and someone to help you identify your blind spots — obstacles to growth that we all have but usually prefer not to know about.
What does a business coach do?
A business coach meets with you on a regular basis to discuss the challenges, issues and opportunities you’re facing. He or she will ask questions to clarify your thinking and guide you to your own answers. A business coach will never tell you what to do or how to do it. He or she will share their own insights, experiences and resources to inform your own decision-making.
Business coaches also often provide information and research on the most relevant topics for your specific circumstances. You should feel comfortable turning to your business coach as a personal sounding board and as a respected source of feedback.
Most business coaches meet with their clients one-to-one. However, Vistage Chairs (another title for business coach) additionally facilitate CEO peer advisory groups, so you meet with them privately and in a powerful group setting.
What can a business coach do for me?
Vistage Chairs help business owners, top executives and CEOs navigate their biggest challenges. They are part coach, mentor, guide, confidant and inspiration. In addition to meeting with their clients one-to-one, they facilitate confidential CEO peer advisory group meetings with 12 to 16 other business leaders. Their clients are from non-competing industries, yet they all face similar issues, and each learn from one another’s experiences and perspective. The Vistage Chair leads group discussions so they are always focused, on-point and result in actionable next steps.
In between peer advisory group meetings, you connect with your Vistage Chair for a deeper dive into your unique circumstances. Unlike the average business coach, Vistage Chairs also use a time-tested model for mentoring that delivers proven results.
The bar is high to become a Vistage Chair. In addition to being an accomplished business leader with proven success, each Chair must complete an intensive 6-month Academy that prepares them to use Vistage’s proprietary framework for business coaching. This approach to mentorship has been honed and cultivated over six decades to produce phenomenal results for their client members. Vistage Chairs are also supported by a world class business research center and thought leaders to help deliver the very best information and resources to their clients.
In the world of business coaching, being a Vistage Chair is the gold standard of excellence. Other business coaches simply do not have this level of structure, support and a world class knowledge base to draw from.
Business Coaching Example
When faced with this challenge Gaurav Kumar, CEO of Beyond Codes and Vistage member since 2014, turned to his Vistage group to seek advice and guidance from his fellow members. After a few hours of drilling questions and suggestions, Kumar knew he needed to bring his company together for an open conversation to establish role clarity across the board. This is just one simple example of how business coaching can help solve your challenges.
Reasons You Should Seek Vistage Business Coaching
1. You are overwhelmed and in the weeds
Getting distracted by the daily grind – Vistage business coaching can help you prioritize your work and put a smart, well planned long-term strategy in place to grow your business. Your business coach will keep you focused and accountable for achieving manageable, strategic goals each month.
2. You feel ‘lonely at the top’
If you feel that all the decisions are all on you – Vistage business coaching is the answer. You are part of a group of 12-16 respected peers – other local CEOs and business owners – who are all committed to helping each other succeed. Led by an accomplished business coach (Vistage Chair), everyone in this confidential forum has each other’s back and provides a trusted source of input and feedback.
3. You are a high achiever wanting to break all records
Vistage business coaching will help you keep your eyes on the prize by helping you develop rock-solid, pressure-tested strategies. You’ll also stay inspired and motivated by renowned thought leaders and subject matter experts who present at most meetings. You know what they say about the company you keep…
4. You’re a new CEO or want to turn around a company you recently joined
Vistage business coaching puts you in an arena of others who have been there, done that. You have all of the perspectives, resources, connections and guidance to make great, well-informed decisions on a consistent basis.
Vistage Business Coaching Statistics
Vistage business coaching helps member companies grow 2.2x faster on average that similar-sized U.S. companies.
During the Great Recession, Vistage business coaching helped member companies grow at 5.8% while nonmember companies struggled to stay afloat.
The average CEO member stays with Vistage business coaching for at least 5 years; some have been with Vistage for over 20 years.
More than 23,000 business leaders worldwide rely on Vistage business coaching today.
Established in 1957, Vistage business coaching has helped over 100,000 CEOs and business owners become better leaders who get better results for their businesses.
Common Business Coaching Questions
What is the time commitment involved for Vistage business coaching?
Through studying CEOs and leadership development for decades, Vistage business coaching requires that you take one full business day each month to meet with your peer advisory group and at least two hours each month to dedicate to a one-to-one session with your business coach (Vistage Chair). This does not include time spent watching and reading our world-class business resources or attending optional webinars and live stream sessions.
Do CEOs need business coaching?
It’s easy to fall prey to insular thinking when you are at the top of an organization. It’s also difficult to get objective, unbiased feedback from others your respect. Every CEO, top executive and business owner can greatly benefit from the diverse perspectives and insights gleaned from a business coach and peer advisory group.
How much does Business Coaching Cost?
The cost of business coaching greatly varies and is primarily determined by the success rate, schedule, tenure and location of the business coach. Costs can range from $100 per hour to $1,000. To determine how much Vistage business coaching and peer advisory will cost for you, complete this short membership form to find out if you qualify.
Who is the best business coach in the world?
There are many great business coaches out there and it’s a growing profession. The best business coaching in the world will help you make better decisions that benefit every area of your life, not only your company’s bottom line. Vistage’s world-class business coaches follow a structured, proprietary method honed over six decades.
It incorporates peer advisory to help their client members achieve the kind of success they have been dreaming about. It’s the most comprehensive approach to leadership development available. In fact, Vistage member companies grow 2.2x faster on average than other similar-sized companies with members staying with Vistage for more than five years on average.
Does business coaching really work?
Absolutely. When you have a committed business leader who is willing to carve the time out of his or her daily routine to work with a business coach on their toughest issues and greatest vision, you are going to see results. Over the course of six decades, Vistage business coaching has helped over 100,000 CEOs become better leaders who make better decisions and get better results.
It’s a proven approach that’s helped business leaders turn companies around, quadruple their profits in a short time, save businesses, grow faster than they ever expected, expand internationally, and more. Check out some of these member success stories.
How do you find a business coach?
Complete this short form to find out if you qualify to get matched with a Vistage business coach in your area.
Vistage business coaching services
Explore 6 purpose-built business coaching programs. Every level of leadership can benefit from the fresh perspectives of a peer advisory group and business coach (Vistage Chair). It’s a proven way to drive better results and professional growth. Vistage offers programs designed for all levels of leadership, starting at the top.
Services for Chief Executives
Be part of a group of accomplished CEOs, presidents and business owners who can help you focus on what’s most critical to your long-term strategy and growth. Work with a dedicated business coach who will connect you to leading-edge experts and resources to help you solve your most complex challenges.
Services for small business owners
When you’re in the throes of the everyday demands of a small business, it’s easy to overlook the details that will drive long-term growth. With the help of a peer advisory group and business coach (Chair), you can identify your blind spots, avoid pitfalls, make better decisions that will grow your business faster and more strategically.
Services for key executives
Join an accomplished business coach and an elite group of high-performing C-level executives, VPs and directors from diverse backgrounds and businesses. Improve your ability to gain alignment between executive leadership and your team while making a more powerful impact on your company.
Services for professional service providers
The Trusted Advisor Program is designed for leaders in professional services such as law, PR and accounting, who want to take their services and skills to the next level and open up new opportunities. It provides the exposure to help you gain new contacts to grow your business, the training to fine-tune your leadership strengths and the support to bolster your brand.
Services for your executive team
Vistage Inside offers a talent development approach that fully engages your team, equips them with the skills and sensibilities to manage collaboratively and helps them achieve higher levels of performance.
Services for emerging leaders
The Vistage Emerging Leader Program prepares your rising stars to become your next generation of senior leadership. Participants receive business coaching across 12 leadership competencies that empower them to deliver on company goals.
Free business coaching guide
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