Cameron Herold and Michael Erath discuss why CEOs tend to ignore advice from COOs. They argue CEOs trust guidance from other CEOs more than from people who haven't held the top job, because peer credibility matters more than operational expertise.
I've always felt, and you clarified this for me the other day, that a COO might be a better guide because they're often the more operational person in the business. And you kind of agreed in some cases, sure, they might be operational, but what does the CEO bring to the table as a guide that the COO doesn't?
There's a reason that peer groups like CEO alliance, like Vistage, like eoipo, have so much value, because it is that peer to peer relationship and network. And at the end of the day, in my experience, when we've tried to have CEOs act as guides with next level growth in our approach, the challenge is the CEOs will still often view them as a COO who's never actually sat in their shoes. And for us, as former CEOs and owners, you come in with more of a peer to peer mindset. And so it's a small nuance, but I think that's what has led to the longevity.
I think it's a bit. It's such an important nuance though, because if a CEO is not going to listen to the guide because they're a coo, it's game over, right?