Guest Column: How I Found A New Business Opportunity
How I Found A New Business Opportunity
For over 8 years I have chaired MacKay CEO peer groups in western Canada. It has been a highly rewarding and engaging endeavour. It is great to see Nancy and Alan collaborating as MacKay extends into the US and beyond.
Following is an overview of the greatest benefits I incurred.
A learning laboratory
Meeting with successful CEOs multiple times each year provided a constant source of learning for me as well as the members. In real time, I could assess their successes and missteps and rapidly define what could work for them, for others and what pitfalls I and my clients needed to avoid.
A source of ideas
Working with close to 30 CEOs (in addition to my own clients) provided a steady stream of ideas. This contributed to blog and video content, triggered creation of new IP and led to my 2nd book, The 360 Degree CEO.Credibility
As a trusted advisor to senior leaders running public companies of $100M and more (and less), I deepened my reputation as a strategic advisor with knowledge across many industries. When well respected leaders told others, “I trust Lorraine to help with my toughest issues” I was invited into confidential discussions with other leaders.
As Alan has often told us, talented executives seek recommendations from their peers. My network of ideal buyers grew widely through referrals and introduction. I was invited to events, onto boards and to interesting locales as I result of my expanded network.Expanding my business
My work with the MacKay members and my own clients accelerated my knowledge of private and public company board performance. This led to my board advisory practice and my business partnership with Linda Henman and Constance Dierickx. As a director, I often sit on the other side of the table from a CEO. This enables me to effectively advise CEO clients on their board presence, deftly resolving issues with their board chair and more.
Generating more revenue and increasing philanthropy
All of the above led to more lucrative consulting engagements, addressing more intractable challenges. I enjoyed the revenues and the intellectual challenge. All this enabled us to make increased financial contributions to causes and organizations that I respect. And when I volunteer my time, giving back for the blessings in my world, my expertise is highly valued and provides greater ROI than it did five years ago.
MacKay offers many growth opportunities, chair training, virtual and live conferences and workshops (attended by business leaders and chairs). These events contributed to my professional growth and expanded my network. With Alan and Nancy’s collaboration, now there is double the opportunity.
While never an objective of chairing the groups, I have developed long term friendships with some of the members and other chairs. Nancy and I have also made a lifetime commitment to each other’s success. These relationships enrich my life and I am truly grateful for them.
For more information, watch this video: https://vimeo.com/451547172/b19e467e3e