A big surprise to us at Cognitive Athlete is that nearly two-thirds of CEOs still need outside leadership advice, despite increasing evidence of the benefits of CEO coaching and that massive investment into coaching over the last few years.
PriceWaterhouseCoopers conducted a survey of coaching clients and found that companies that invested in coaching had an average ROI of seven times their initial investment. Moreover, over a quarter of survey participants reported ROIs of 10 to 49 times the initial investment.
Leaders who go it alone often bear the stress of having to have all the answers all of the time and, ultimately, making decisions in isolation.
Those who take advantage of CEO coaching enjoy better business performance and goal achievement, improved leadership, enhanced motivation and focus, more positive relationships with colleagues, a greater ability to self-regulate, and increased confidence when making decisions.
History Of CEO Coaching
In the past, the idea of having an executive coach was only sometimes viewed positively, and it was often considered a last resort for companies who had hired CEOs who were not fit for the job or who needed help to keep up. Having a coach was something to be kept secret, as it suggested weakness in leadership.
However, the perception of coaching has evolved, and people now recognise the enormous benefits it can bring to individuals and organisations. The new thinking is that hiring a CEO coach is an investment in someone who has great potential and can achieve even greater success with the help of a coach.
Having a coach is now seen as a sign of prestige, demonstrating that someone has reached the top of their game and is committed to continuous improvement. Many high achievers, including Eric Schmidt, Steve Bennett, Oprah Winfrey, Steve Jobs, and Barack Obama, have publicly acknowledged the value of working with a coach.
As a result of this shift in perception, more companies and individuals are seeking out coaches to help them reach their goals. They recognise that if the fastest man in the world, Usain Bolt, works with a sprinting coach, it makes sense for top professionals in any field to work with specialised coaches. With the stigma of coaching long gone, people are embracing the idea that a coach can help them achieve their full potential and reach new heights of success.
Below we address why so many top performers have a CEO who should have a coach behind them, the most significant hurdles CEOs face when making decisions, and the value of having a trusted group of peers to turn to. CEO coaching, when done right, can help you become a better leader who consistently gets better results in their whole life performance
What is CEO Coaching?
The definition of CEO coaching is simple for us at Cognitive Athlete.
CEO coaching helps CEOs improve their performance, end of. That’s what any coaching should be doing.
Having a CEO coach is like having a mentor who helps you think through decisions from every angle, offering fresh perspectives and insights.
A great CEO coach will help you identify your challenges and opportunities — and work with you to clarify your priorities. Your coach will identify blind spots and share resources to help you make more informed decisions.
CEO coaching is a valuable resource for professionals working in any industry. However, those in the C-Suite or business owners can particularly benefit from these services, as their performance significantly impacts their company’s culture and financial outcomes.
CEO coaches employ targeted strategies to pinpoint your strengths and identify areas for improvement. They consider your business and professional goals and assist in devising a plan to achieve them, providing guidance and accountability along the way.
Leadership is about making informed decisions and setting the tone for others to follow. With the help of an executive coach, you can refine your instincts, enhance your judgment, improve your work culture, and broaden your perspective. This, in turn, will allow you to make well-informed decisions that move your business forward consistently.
Even accomplished leaders can benefit from working with a coach. Developing outstanding leadership skills is an ongoing process, and there is always room for growth and learning.
Purpose of CEO coaching
The purpose of executive coaching is to help you become a better leader, make better decisions and get better results.
Ultimately this will enable you to grow your business faster, have a positive and uplifting impact on your employees and lead to a positive difference in your community and the world. You may even find that your personal life improves as well.
A big purpose of a CEO coach is to have a holistic approach to leadership; we at cognitive athlete believe in this. We will encourage you to discuss any challenges you’re facing — business-related or personal.
They work on the premise that the issues you’re facing at home show up in the office and vice versa. Addressing the whole person (not just the business professional) can help relieve stress and lead to more fulfilment, a higher calibre of work and a higher quality of life.
Five benefits of executive coaching
Executive coaching is a win-win for any hungry business owner. As you expand upon your leadership skills, your company reaps the rewards.
A CEO coach can provide objective feedback that can help you see things from diverse perspectives. To make the most of your sessions, listen actively to your coach and peers without interrupting or planning your response. Be open to new possibilities and solutions that may emerge.
By keeping you focused and strategic, a CEO coach can help you achieve your business goals faster while avoiding costly mistakes. This allows you to spend more time on the vision for your company and yourself instead of dealing with the fallout from rash decisions.
With a CEO coach, you’ll have a step-by-step plan and deadlines that hold you accountable for achieving your goals. A good coach won’t accept excuses and will help you stay motivated and on track.
Understanding blind spots
A CEO coach can identify blind spots that may be holding you back and preventing you from making informed decisions. Your staff and loved ones may not be able to see these blind spots, but a coach is trained to spot them and help you overcome them.
By scheduling regular sessions with your CEO coach, you can address big-picture issues that may be affecting your business. This dedicated time allows you to step back from day-to-day emergencies and focus on your priorities, so you can move your business forward in the direction of your dreams.
Why CEO coaching works
CEOs and business owners engaging in CEO coaching often find it highly effective. By enlisting the help of a coach and committing to regular sessions, you’re taking a proactive step towards success.
By dedicating time on your calendar to address the challenges and opportunities that can propel your business forward, you’re setting yourself up for growth and advancement. Without this intentional focus, CEOs can become bogged down in day-to-day operations and miss the chance to refine their strategy, address operational inefficiencies, and tackle issues that are hindering their success.
Here are the five biggest reasons we at Cognitive Athlete coach CEOs
It fosters renewed curiosity and openness
Engaging with an executive coach and peer advisory group provides a safe space to discuss ideas and gain fresh perspectives, opening up a new world of possibilities.
It holds you accountable for your vision.
As a CEO or business owner, you are accountable to yourself or a board of directors. However, having an executive coach and peer advisory group provides added motivation to achieve long-term goals such as an exit strategy or building a fundamental piece of your legacy. Regular meetings and check-ins with people who care about your success adds firepower to ensure your dreams become a reality.
It clears away operational roadblocks.
It’s easy to get bogged down in day-to-day tasks and lose sight of the bigger picture. CEO coaching provides the time and space to step back and focus on high-level planning and strategy, enabling you to move your business forward.
It improves decision-making skills.
As a CEO, you may not always be able to share certain information with your staff or trusted advisors, and this can lead to feeling isolated and experiencing the “lonely-at-the-top” syndrome. However, CEO coaching provides the opportunity to connect with other business owners and receive the confidence and support needed to make better decisions.
Cultivating a growth mindset
Executive coaching can help you cultivate a growth mindset, which is the belief that your abilities can be developed and improved through hard work and dedication. With a growth mindset, you’ll be more willing to take risks, learn from your mistakes, and embrace challenges as opportunities for growth. A CEO coach can encourage you to adopt this mindset by helping you set stretch goals, overcome limiting beliefs, and adopt a more positive and resilient attitude toward challenges and setbacks. By developing a growth mindset, you’ll be better equipped to lead your business through change and uncertainty and achieve greater success over the long term.
Why use Us As Your CEO COACH
Cognitive Athlete Coaching Programs are highly individualised and designed to meet your unique needs as a cognitive athlete. We understand that leadership takes many forms, and we tailor our coaching programs to provide you with the tools and insights you need to succeed.
Our coaching process includes a variety of assessments, each designed to help you gain a deeper understanding of yourself and your leadership style. By identifying your strengths and areas for improvement, you can make more informed decisions and take purposeful action towards achieving your goals.
In addition to assessments, our coaching programs provide you with a supportive community of like-minded cognitive athletes who understand the unique challenges of leadership. You’ll have access to peer advisory groups, where you can connect with other CEOs and business leaders to share insights, brainstorm solutions, and gain new perspectives.
Overall, our coaching programs are designed to help you become the best version of yourself as a cognitive athlete and a leader. We believe that with the right tools, insights, and support, you can achieve your full potential and lead your team to success.
Book a call here to talk to use about CEO coaching.
Founder and Director