The Idea in Brief
It’s lonely at the top. A CEO has no true peers in whom he can unreservedly confide. He needs to hear hard truths, yet people become guarded in his presence and unwilling to raise difficult topics. No one needs a trusted professional adviser more than a CEO.
If you’re one of those advisers—a group that includes lawyers, investment bankers, public relations professionals, governance experts, business strategists, and specialty consultants—you may find operating so close to power intoxicating. But you’ll also face dilemmas that could derail your practice, your client CEO’s career, or your client’s company.
For example, a successful advisory relationship with a CEO requires a strong personal connection. But yearning to be friends can prevent you from demonstrating the candor and clear-eyed perspective the CEO needs to make smart decisions. Your strategy? Balance personal bonds with boundaries. If you discover that your client shares your passion for, say, sailing, use brief chats about your common interest to forge a bond—but don’t go sailing together.
Recognize the pitfalls of your advisory role, and you stand a better chance of sidestepping them. Your reward? You enjoy the challenges and stimulation of the relationship—while providing invaluable assistance to corporate chiefs.
The Idea in Practice
Address these dilemmas while advising your CEO:
Political Dilemmas
Emotional Dilemmas
Advising CEOs sounds like a dream job. The corner office is the seat of power and the center of action, home to some of the smartest, most charismatic men and women in business. Working side by side with the highest-caliber leaders on issues affecting tens of thousands of people, you have an unparalleled opportunity to make a real and lasting difference.
