Why Every CEO Should Have at Least One Trusted Advisor ChiefExecutive.net | Chief Executive magazine

Business confrontation. Two mature men in formalwear arguing while sitting together at the table

Business confrontation. Two mature men in formalwear arguing while sitting together at the table

Urgent optimism is the singular critical trait I believe all CEOs share. It’s more than glass half full, it’s more than seeing the world in a positive context. There is momentum, a drive to make an impact and to make that impact now. AddThis Sharing Buttons Posted by: Cindy Wahler August 7, 2015 But there is also a risk that this optimism could inadvertently turn into tunnel vision. It’s like getting caught in a vortex of fast spinning energy. You may steamroll ahead, make quick decisions without considering factors such as determining risks, employing the right metrics, ascertaining whether the market wants what you’re selling, identifying top talent, correctly evaluating the necessary capital, and a host of other potential liabilities. “Get outside of yourself, no matter how smart, savvy and prescient you think you are.” So what is the right equation? It’s normal to feel that time is of the essence to get ahead of the competition. Like all sprinters who are racing to the finish line, however, you need to understand what it takes to keep you in peak performance. This means you must get outside of yourself no matter how smart, savvy and prescient you think you are. The best way to do this is to find an advisor, coach or mentor—someone you respect, someone who has a great track record of not just success, but enduring tough times. You may want to surround yourself with heroes, but you need heroes who have made mistakes. It’s the only way you will be guided with real wisdom. When seeking an advisor you might want to consider these 4 attributes:

1. Business leaders all have different types of success. Some are great at maintaining the status quo, others increase market cap and achieve profitable growth. Be clear on your goals for your organization and ensure your advisor’s expertise is aligned with your objectives.

2. Don’t be dazzled by a high profile business leader. Does your potential advisor have expertise in your business’s core competencies? Do your homework. An advisor must have knowledge and direct experience with your industry. They must also understand the market, potential threats and possess a strategic mindset to help get you to where you want to go with your business.

3. Is your advisor well networked? Obtaining outside opinion, counsel and most importantly  a network that can help leverage your business is paramount.

4. Trust is critical. Can you share your anxieties, fears in an open manner and rather than feel judged have constructive dialogue that allows you to move forward with traction.

Having a trusted advisor eliminates the risks associated with working in isolation or at warp speed. To accept the advice of your advisor, however, you must have a sense of humility. You must accept that you could be wrong, you might require course correction or you might even have to start all over again. So being open to feedback from those who care and have domain expertise is invaluable. If you regard yourself as an eternal student along with being an innovator, then you will attract the right resources.

I strongly believe in surrounding myself with benevolent experts and sage advisors. They’ve got the right mojo and have worked hard to set me straight. They could do the same for you.

Source: Why Every CEO Should Have at Least One Trusted Advisor ChiefExecutive.net | Chief Executive magazine

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About Stephen G. Barr, Group Publisher

Author, Syndicated Columnist, Editor In-Chief and Group Publisher at SGB Media Group, a social media marketing firm specializing in digital media content production, publishing, affiliate marketing, public relations and advertising. Over 25 years experience in retailing, advertising, website & online forum development, niche social networking, affiliate marketing, search optimization, branding and identity, site location, non-profit fund raising. Event planning, promotion, production and MC/Host at public events. Author, Editor & Publisher of 35 syndicated, digital publications utilizing multiple digital distribution channels in conjunction with launching and administrating national advertising campaigns for major Fortune 500 advertisers in partnership with Google, Ning, Facebook, Myspace, Yahoo, DoubleClick, LinkShare, PepperJam and other industry leading third party affiliate networks. Product development team member from conception to launch on many websites, tangible goods and organizational structure for start ups. Specialties: Public relations, retailing, advertising, website & online forum development, niche social networking, blogging, email campaigns, affiliate/performance marketing, search optimization, branding and identity, site location, event production & promotion, non-profit fund raising and tasteful, responsible adult content publishing. An internationally recognized and read social media columnist & pundit on The Examiner, Associate Content, Vator.tv, X-Biz.net and Technorati and his own affiliated sites.
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