"Be wary of advice from people who suffer no consequences if that advice is wrong" - someone
If I'm a CEO, I'm going to take advice from people who are successful CEO's, then people who have been CEO's longer than I have, then my peers, THEN maybe everyone else. MAYBE. But doubtful.
Most of these "executive coach" positions are cheerleaders, and for sure cheerleaders have a purpose, but advice aint it.
It's one thing if we're talking about an investor who has watched many CEO's over the years, it's another if it's a dude who is paid to give soundbites.
In any field there are obvious mistakes that all the beginners make and are well understood. The message that beginners need to hear - "this is a common mistake, don't do it!" - can be farmed out to an adviser who doesn't understand the field.
In my experience, even having someone to repeat things I already know every so often can be a helpful form of advice.
“Take the advice of other successful CEOs” … are those other CEOs working for you day to day? How are they giving advice tailored to your company’s needs that go beyond the typical “invest in your employees” line that everyone knows.
There’s a reason there are coaches as they can do the work full time and can offer better advice.
Comments
"Be wary of advice from people who suffer no consequences if that advice is wrong" - someone
If I'm a CEO, I'm going to take advice from people who are successful CEO's, then people who have been CEO's longer than I have, then my peers, THEN maybe everyone else. MAYBE. But doubtful.
Most of these "executive coach" positions are cheerleaders, and for sure cheerleaders have a purpose, but advice aint it.
It's one thing if we're talking about an investor who has watched many CEO's over the years, it's another if it's a dude who is paid to give soundbites.
In any field there are obvious mistakes that all the beginners make and are well understood. The message that beginners need to hear - "this is a common mistake, don't do it!" - can be farmed out to an adviser who doesn't understand the field.
In my experience, even having someone to repeat things I already know every so often can be a helpful form of advice.
That's a reasonable caveat but we both know that isn't what these advisors are advertising.
“Take the advice of other successful CEOs” … are those other CEOs working for you day to day? How are they giving advice tailored to your company’s needs that go beyond the typical “invest in your employees” line that everyone knows.
There’s a reason there are coaches as they can do the work full time and can offer better advice.
What consequences does a CEO suffer if the advice that he gives other CEO's turns out to be wrong?
I read the advice you quoted in Skin in the Game by Nassim Taleb.