Why Every OC CEO Needs a Peer Group

A Thought Leader Guest Post from SCORE Orange County:

Why Every CEO Needs Other CEOs

Being a CEO can be a lonely job.

The larger the company becomes, the more difficult it can be to find people with whom you can candidly discuss the decisions that keep you awake at night.

Should we make this acquisition? Is it time to add another senior executive? Are we growing too quickly—or not quickly enough? How do I deal with a difficult employee or an important customer?

Research suggests that having trusted peers to help think through these questions can have a meaningful impact. A study of 2,820 business owners published in the Quarterly Journal of Economics found that structured peer-group meetings increased participating companies’ revenues by 8.1%, while also improving management practices and business relationships.

The benefit isn't simply getting advice. Experienced peers can ask the questions others may be reluctant to ask, offer perspectives based on having faced similar situations, and provide a measure of accountability. Just as importantly, a confidential peer group can give a CEO a place to acknowledge uncertainty and explore an idea before making a decision.

That can be particularly valuable in Orange County's technology and life sciences community, where entrepreneurs and business leaders are navigating rapid growth, changing markets, talent challenges and significant investment decisions.

One potential resource for you is SCORE Orange County’s CEO Forum, bringing together owners and CEOs of established businesses in a confidential, professionally moderated peer setting. The program is designed around discussions of real business challenges—not lectures or networking—and is offered at a minimal fee.

Thanks for this Guest Post and its graphics to SCORE Orange County.

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