{"id":3522,"date":"2019-03-06T11:47:55","date_gmt":"2019-03-06T16:47:55","guid":{"rendered":"https:\/\/www.innovators.org\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/draft\/"},"modified":"2019-03-06T11:47:55","modified_gmt":"2019-03-06T16:47:55","slug":"its-lonely-at-the-top","status":"publish","type":"post","link":"https:\/\/www.innovators.org\/stage\/blog\/its-lonely-at-the-top\/","title":{"rendered":"It’s Lonely at the Top"},"content":{"rendered":"

One of the biggest challenges CEOs face in their roles is not having someone to confide in.<\/a> Someone who \u201cgets it.\u201d Being the ultimate decision maker can be isolating, especially considering the overwhelming responsibility and pressure CEOs feel to consistently deliver results.<\/p>\n

Harvard Business Review<\/a><\/u><\/em> reported that 50% of CEOs admitted to feeling lonely at work. Of this group, 61% of CEOs believed that their loneliness hindered their performance. Among first-time CEOs, the numbers in both categories climb to 70%.<\/p>\n

So, what can you do?<\/p>\n

Keep reading to learn how networking groups make the top a little less lonely.<\/em><\/p>\n

Objectivity<\/h2>\n

Networking is no longer about climbing the corporate ladder\u2014it\u2019s about taking your business to the next level through your relationships with other leaders. Business owners often make the best advisors for one another.<\/strong><\/p>\n

Talking to other CEOs and business owners who have similar experiences and share an understanding of the responsibilities that come with the title is extremely valuable.<\/p>\n

They possess a level of understanding that others may not, including your friends and family. Even consulting with professional advisors such as accountants or lawyers is not always the answer, as they may have their best interests in mind rather than yours.<\/p>\n

Your peers who have walked the same path can empathize, offer advice, and provide a sounding board for ideas.<\/strong><\/p>\n

Opportunity<\/h2>\n

CEOs and business owners can find themselves with their blinders on, working in <\/em>their business rather than on<\/em> it. They often miss the big picture and some of the real opportunities for growth, as well as possible threats to their business.<\/p>\n

You may find yourself struggling through the same ongoing issues in your business: it feels like you\u2019re going in circles, not making any headway. Networking with other business owners will pull you out of the day-to-day and force you to look at the big picture.<\/strong> Your networking group will also offer a fresh set of eyes on the challenges you\u2019re facing<\/a>, offering different perspectives and new ways of thinking about your problem \u2013 and the possible solutions.<\/p>\n

Take Henry Ford, for example. By the early 1910s, the Model T was already one of the most popular cars in North America, but Ford wanted to do more. He wanted to make it the car of the masses, which meant he needed to expand production and reduce the price.<\/p>\n

Ford had previously observed assembly line and conveyer belt systems used in slaughterhouses and grain warehouses and also consulted with Frederick Taylor, a world-leading mechanical engineer, in order to perfect the system in his own plant.<\/p>\n

By pioneering this style of manufacturing, Ford developed the world\u2019s first large-scale assembly line. In doing so, he was able to reduce per car production time from 12 hours to only 93 minutes and bring the Model T\u2019s price down by a whopping $565 (equivalent to more than $19,000 today).<\/p>\n

By looking at another industry, Ford revolutionized and transformed his own.<\/p>\n

\"4Synergy<\/h2>\n

As a CEO or business owner, you are faced with unique challenges and decisions every day. It is important to openly discuss your successes and hurdles with a group of other CEOs and business owners<\/strong> who understand what it\u2019s like to be at the top.<\/p>\n

Having the opportunity to seek \u2013 in confidence \u2013 advice and ideas to resolve the challenges you are facing is an invaluable resource.<\/p>\n

Gather a group of CEOs around a table on a regular basis who share these characteristics:<\/p>\n