Growing a business takes perspective, requires knowledge

Volume 44, Number 6

By RICK MORGENWECK

The readership of this paper includes engineers, scientists, remediators, lawyers, and many others. Most of you share a characteristic that allows you to be successful in your field, you have specific knowledge in a focused area of expertise.

Many of you are running a business or a division, as well, and that requires broad knowledge.

A specific area of expertise may have got your business started, but broad business knowledge is what will keep you going.

A business-focused peer group might be the right path to help you grow your company.

Vistage is a global company with local chapters that does just that, helping leaders grow through use of peer groups. Vistage runs leader to leader peer groups with a primary focus on helping leaders gain the breadth of business acumen necessary to confidently grow their companies.

Not everyone has the time or inclination to go back to school and earn an MBA. I did. After my time in the Coast Guard, cleaning up oil spills, hazardous waste sites, and working in industry for a lot of years, I enrolled in the Key Executive MBA program at Rollins College.

This was an interesting program that required each member of the class to have at least 10 years of prior leadership experience. While the professors were great, I can tell you that I learned so much more from my peers in the class; their diverse perspectives and real-life knowledge was invaluable.

This is the same type of experience I found years later when I joined my first Vistage group. I have been a member of Vistage groups in Utah and Florida since.

These groups are one of the best leadership development tools I have encountered, especially for anyone responsible for a company or division of a larger concern.

Why?

It’s the diverse perspective of the members themselves. As you run your business, you will encounter many situations that lead to tough decisions. The more you grow, the higher the stakes. You may be supremely logical and rational, but what you may lack is perspective.

If you get in a room with a dozen or so other leaders from different industries, all facing the same type of issues, you will get that perspective, and so will everyone else at the table.

I cannot emphasis enough how powerful this is for someone running a business. Vistage members grow their companies more than twice as fast as their competitors, regardless of industry or market.

Vistage had a huge impact on the growth of a business I operated in Utah; and when the time came, we were able to sell at a much higher multiple than expected. I left Utah and moved back to Florida, but I stayed with Vistage.

I’m not only a member, but I now Chair a group here in Florida, and am building a second.

I welcome anyone interested in learning more or encouraged to join me on this leadership trek, please contact me.

The conversation is much more than I could cover in this generous allotment of space. I am happy to connect you with a Vistage group in your community or you’re welcome to join me.

I’m pretty easy to find on LinkedIn since there aren’t many other Rick Morgenwecks out there or email me at RMorgenweck@VistageFlorida.com.●

What is Vistage?

Vistage is the world’s largest CEO coaching and peer advisory organization for small and midsize business leaders. They offer the most effective approach to achieve better results, grow your company faster and maximize your impact as a leader. For more than 65 years, Vistage has helped CEOs, business owners and key executives reach new levels of success. For more information, go to www.vistage.com.