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CEO Peer Groups vs. Coaching

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CEO peer groups are very different than business coaching. See how informal CEO boards differ in this presentation.

CEO peer groups are very different than business coaching. See how informal CEO boards differ in this presentation.

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  • 1. Coaching vs. Peer GroupsComparison
  • 2. Coaching vs. Peer GroupsCoaching OverviewAccording to the International CoachingFederation, A coach should:• Discover, clarify, and align with what the client wants to achieve• Encourage client self-discovery;• Elicit client-generated solutions and strategies; and• Hold the client responsible and accountable. It is not the role of the coach to provide input, only to help the client self-discover and execute There is an underlying premise that the client CAN hold themselves accountable 2
  • 3. Coaching vs. Peer GroupsPeer Group Overview• Learn from a group like-minded business owners• Learn from the successes and hard knocks of others rather than just yourself• Rather than a pre-set curriculum, real-world opportunities of the members are the discussion topics• Group accountability vs. individual accountability• Underlying premise is that holding yourself accountable is difficult or impossible. Group is relied upon for accountability. 3
  • 4. Coaching vs. Peer GroupsAreas of ComparisonThe ProgramsAccountabilityCommunityRetentionSales Models 4
  • 5. The Programs
  • 6. Coaching vs. Peer GroupsCoaching ProgramsThe Core: Leading of the client towards discovery oftheir issues. The coach then attempts to hold the clientaccountable for these action items.• Many coaching programs also have a learning component. The coach has a series of workbooks for the client to complete as homework and then the coach helps the client create a self-discovered action list based upon these lessons.• Most coaching engagements are expensive because of the weekly frequency ($2000+/month). Therefore, the length of engagement averages nine months or so. 6
  • 7. Coaching vs. Peer GroupsCoaching Programs The Core: Group interaction. Clients have anopportunity to bring the real-world issues to the groupfor a structured, facilitated discussion based upon aseven-part model. From these discussion, clientscommit to action steps (accountability) as well asdiscover new/better options to the issue.Our research shows that other group participants benefitgreatly from discussions because:• They get to practice making tough decisions in an augmented case study environment. That is, they know the business owner and care about the outcome. However, it is not their business so they can remain objective.• They glean best and worst practices from “sticky” real-world situations. 7
  • 8. Coaching vs. Peer GroupsCoaching ProgramsThe group acts as an informal board of directors to each other.This benefits members by:• Creating a once a year forced strategic planning session• Harnessing the collective wisdom of 13 other CEOs focused on the opportunities of the presenter• Creating a deeper understanding of each other’s business for greater camaraderie Peer group programs cost $295 - $695 per month 8
  • 9. CEO Peer Groups vs. Coaching Philosophy
  • 10. Coaching vs. Peer GroupsDifferences in CoachingPhilosophiesLike coaching, CEO Focus has a component called the 1-to-1meeting.• This meeting is similar to coaching in that the focus is on getting client buy-in• Different because: • You are allowed to share your expertise and encouraged to do so • Length of tenure tends to be years not months • CEO Focus facilitator becomes part of the client team over time • Less frequent meetings (monthly) vs. weekly for many coaching programs. We feel that weekly feels like a 2nd job to many entrepreneurs. 10
  • 11. Coaching vs. Peer Groups Coaching Peer Group •Self discovery is key Any discovery is key •Clients can hold themselves Clients typically cannot holdaccountable themselves accountable. A group of peers does a much better job.Coaches should not share theirexpertise, clients should self- Coaches SHOULD share theirdiscover. No consulting allowed. expertise, and rapport is developed, clients want all relevant knowledge.Every business owner needs toknow the same core principles so Every business is different so awe teach from the master one size fits all approach isplaybook typically rejected by clients.Meet weekly to drive home themessage and complete the work Meet at a frequency that does not feel like a second job to the client. This is typically monthly. 11
  • 12. CEO Peer Groups vs. CoachingAccountability
  • 13. Coaching vs. Peer Groups A Key Question?Our experience has found that the coach can onlyhold the client as accountable as the client will let himor her.Do you agree?Here is the problem: Eventually you will come to apoint with the client where you feel they need to dosomething and the client will revolt, reject, or stonewallyou. Now what? If you push too hard, you have a 90%chance that the client will solve the problem by firingyou. So, are you really going to jeopardize yourincome by pushing that hard? 13
  • 14. Coaching vs. Peer Groups The solution is the group With coaching PLUS a group, you do not need to jeopardize your relationship with the client, the group does the pushing. 14
  • 15. Coaching vs. Peer Groups 1+1=3 Coaching plus the group is synergistic.A coaching program cannot hold a client accountable.It is the rare client that can hold themselvesaccountable or let you do it.It’s a tough road to only serve this small set of clients. 15
  • 16. CEO Peer Groups vs. Coaching Community
  • 17. Coaching vs. Peer Groups It’s Lonely at the TopSmall business CEOs are very isolated• Typically little or no top management talent• No one to discuss key issues with• Locked in the office all day Coaching only ½ solves this issue:Adding a coach to the mix will help significantly with isolation.However:• Coaching tends to be one more insider in the process. It’s like 1 ½ CEOs.• Does not truly qualify as outside input because the traditional coaching model does not allow input or consulting from the coach. 17
  • 18. Coaching vs. Peer Groups It’s Lonely at the TopA peer group plus 1-to-1 meeting solves the issuecompletely• 13 other trusted CEOs to bounce ideas off• High level of trust developed over time so all issues are shared. No more secrets.• No more Ideas created in a vacuum. An opportunity to vet ideas with the group.• Hearing opportunities of other group members is energizing. This can provide some much-needed motivation occasionally. 18
  • 19. CEO Peer Groups vs. Coaching Retention
  • 20. Coaching vs. Peer Groups Coaching• Because coaching programs are so intense, client tenure is short-term• 6-9 month tenures equals constant replacement of clients.• You will be able to retain some clients on a long-term basis, but probably not at $2000/month 20
  • 21. Coaching vs. Peer Groups Peer Groups• Retention tends to be years not months• Some clients stay decades• Because peer groups focus on the business issues at hand, the issues are constantly evolving.• With a steady stream of new issues, we never run out of work.• With the emphasis on the group and the group process, there is less stress on the coach to always “be” the product. The group is the product. 21
  • 22. CEO Peer Groups vs. CoachingSales Models
  • 23. Coaching vs. Peer Groups Issue #1 Help is a 4-letter word• No matter how you slice it, coaching = help in the mind of the CEO.• Big, strong CEOs do not want help• If we went to a business owner meeting of 100 CEOs, how many of them would be looking for a coach? Probably 0-5, right? That is, there is not much pent-up demand for pure coaching. 23
  • 24. Coaching vs. Peer Groups Issue # 2 Is there a negative perception of coaching• Watch http://www.thedailyshow.com/watch/tue- march-21-2006/trendspotting--life-coaching• This is the public perception of coaching, so be careful. 24
  • 25. Coaching vs. Peer Groups Issue # 3 Across the desk selling is HARDWhat will be your sales model?• Trolling networking meetings full of “salespeople trying to sell other salespeople” tends to be unproductive• An appointment setting approach is like buying a sales job. You will go plop yourself in front of a semi-reluctant prospect (remember, not many CEOs are actively seeking coaching) . An appointment setting sales model is not really a sales model, it’s just activity. 25
  • 26. Coaching vs. Peer Groups Education Based Selling Model CEO Peer Groups use an education-based sales modelHowever, it takes more than an education-based modelbecause:• If your territory is not big enough, or is over- crowded, you can never get a large enough crowd for critical mass• If you have a small or over-crowded territory, you will have excessive internal competition for sponsors/partners.• Internet-based models like webinars do not attract a big enough crowd yet. Expect 1-5 people on your webinars. Market acceptance of the medium just isnt 26 there yet.
  • 27. Coaching vs. Peer Groups Education Based Selling ModelIdeally, you should employ a multi-pronged marketingapproach similar to the CEO Focus model. A graphicalrepresentation of this model is on the next slide. Eachof the method adds a layer of RSVPs (or bricks). Theaccumulation of all the layers results in a great event. 27
  • 28. Coaching vs. Peer Groups 28
  • 29. Coaching vs. Peer Groups Next Steps• As part of our mutual opt-in process, we hope this information has helped you decide what model works best for you.• If you would like to learn more about CEO Peer Groups, we look forward to speaking live. 29

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