Why Vistage Membership Is Even More Important During An Economic Crisis
During the 16 years that I ran my, 1984 to 2000, I was lucky to only have to navigate through a minor recession in the early 1990’s. We we grew during the recession because our clients backed off from hiring direct employees and preferred to use our consultants. We had brilliant consultants and were able to provide them to our clients.
During the 17 years that I have been mentoring CEOs, 2003 to the present, I have had the honor of helping companies navigate through the Great Recession. And now I have the honor of helping my CEOs through the COVID-19 crisis. I say honor because there is nothing I would prefer doing in these difficult times.
The CEOs in my group have invested to be part of the Vistage community. The CEO members lean on each other, sharing best practices at lightening speed. As a group, we are much smarter than sum of the individuals. As Chair of the group, I lean on my fellow Chairs in San Diego and around the world, sharing best practices at lightening speed. Executing at lightening speed is critical during this COVID-19 crisis.
In normal times, Vistage brags that member companies grow at 2.2x the normal rate of non-member companies. That is impressive, but what excites me even more is what happened during the Great Recession years of 2007 to 2009. Vistage companies grew 5.8%. while Dun & Bradstreet reported that US companies shrank -9.2%.
Vistage is not a miracle cure for this economic crisis, but the wisdom of 23,000 members coupled with a 1,000 Chairs worldwide, creates a valuable safety net for member companies. If you are interested in becoming a Vistage member, please contact me.