Why Leaders with Outside Advisors CRUSH their Competition
One of the greatest myths in business is the possibility of succeeding alone. The old saying “No man is an island,” has never been truer than in the world of business. Maximizing teams through outside advisors offers confidence and potential that the majority of executives today do NOT possess. In fact, a recent study of CEOs reveals 72% are NOT CONFIDENT in the future. What’s the secret of the remaining 28%? Outside Advisors!
Where does this lack of confidence originate? When we realize that 45% of CEOs have no idea who their target market is or what their needs are, confidence seems an unlikely outcome. 39% say they have made an educated guess regarding their target market, but have not validated their conclusions with any type of research. Only 16% of organizations both know and have confirmed who their market is and how they would like to be served. Those organizations have a much greater likelihood of confidence, as they have overcome what the Harvard Business Review reveals as one of the greatest source of fear in the business world, the unknown. “People tend to under appreciate what they don’t know. Thus, overconfidence is driven in part by insufficient consideration of unknown evidence.” Discovering and acting on data driven trends yields solid organizational decision making and ultimately performance.
But knowing and acting are two very different actions. There is a famous story of Alexander the Great philosophizing, “I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion.” Leadership changes everything. Effective Leadership involves a twofold path of mastering tactical skills in setting, executing, and achieving goals/ initiatives that drive business growth, as well as mastering both personal/ interpersonal skills that enable one to hire, train, mentor, and inspire staff to work towards a clearly defined vision. Skills in Strategy, People and Process are rarely formally taught in a cohesive package, usually leaders have had to learn from trial and error during their management journey.
Leading organizations today know a secret path to success, independent advisors. Executive Coaching guides leaders to the strengths needed for survival in today’s business world. In fact, surveys reveal that 99% of executives who fully invest in a coaching experience report positive results. The executive coach enables executives to see their organization from an objective point of view, allowing for decisions that fulfill the organization’s purpose.
The Harvard Business Review reports, “The goal of coaching is the goal of good management: to make the most of an organization’s valuable resources.” Without exception, success requires support. The support you choose dictates the level of success that can be experienced. The most critical element possessed by those who dominate their competition is a mentor, capable of guiding and supporting them to the highest levels of performance and agility. Still not convinced? Here’s the data:
Working with a skilled business advisor yields:
- 51% increase in team effectiveness
- 61% improvement in overall business management
- 72% improvement in communication skills
- 73% better quality of interpersonal relationships
- 700% Return on investment if coaching longer than 6 months
Want to find your competitive advantage? Call us today at 702-421-3212 for a free coaching session!