CEO coaching isn’t remedial – it’s a performance multiplier for even the most accomplished leaders.
by Jim Ristuccia
What do visionary founders like Steve Jobs, Larry Page, and Eric Schmidt all have in common? They each had a coach. In fact, Google’s former CEO Eric Schmidt once admitted that the best advice he ever received was to “have a coach,” even though at first he bristled at the suggestion. Schmidt initially thought, “Why would I need a coach? Am I doing something wrong?” – a sentiment many seasoned CEOs can relate to. But he soon realized coaching wasn’t about fixing something wrong; it was about getting even better. “The coach doesn’t have to play the sport as well as you do. They have to watch you and get you to be your best,” Schmidt explained. This reflects a pivotal truth: CEO coaching isn’t remedial – it’s a performance multiplier for even the most accomplished leaders.
The New Normal for CEOs
Not long ago, having an executive coach was often whispered about, as if it implied a shortcoming. Today, it’s increasingly seen as a badge of ambition and growth. A Stanford University survey found that about two-thirds of CEOs have worked with a coach at some point. And yet, surprisingly, another study noted two-thirds of CEOs still receive no outside leadership advice at all – even though almost all say they’d be receptive to coaching. Clearly, the demand for coaching is rising as old stigmas fall away. Between 2019 and 2022, the number of professional leadership coaches worldwide grew by 54%, and the coaching industry’s annual revenue reached $4.56 billion. More boards and CEOs are recognizing what elite athletes have known forever: no top performer would go without a coach. As one report put it, there isn’t a single Olympic athlete or NBA star who trains without guidance, so CEOs should not be insecure about coaching…see coaching as a tool for improving their already high performance, not as a remedial step. In other words, CEO coaching has become a mainstream strategy for staying at peak performance in the business arena.
Why Even the Best Leaders Hire Coaches
Legendary coach Bill Campbell – nicknamed “Coach of Silicon Valley” – mentored some of the most successful tech CEOs of our time. Campbell coached Google’s Larry Page, Sergey Brin, and Sundar Pichai; Apple’s Steve Jobs; Amazon’s Jeff Bezos; Twitter’s Jack Dorsey; Facebook’s Sheryl Sandberg, and many others. These visionary leaders were brilliant, but they still sought an outside perspective. There’s a famous story of Bill Campbell walking down the halls of Apple with Steve Jobs, gently reminding the famously brash CEO to listen more deeply to his team. At Google, Campbell once sat through a tense executive debate and then cut straight to the heart of the issue by asking one powerful question: “What’s best for the company?” His question instantly refocused everyone on the common goal. The lesson from these tales is that a great coach isn’t there to give all the answers, but to ask the right questions and unlock a leader’s best thinking. As Campbell often preached, “It’s about unlocking greatness in people.” Indeed, he believed even brilliant leaders benefit from a coach because leverage – having that trusted advisor – beats lone genius every time.
Many CEOs today echo this view. Bill Gates has noted that “We all need people who will give us feedback. That’s how we improve.” and famously said “everyone needs a coach.” When a figure like Gates – one of the most successful business leaders ever – emphasizes the universal need for coaching and feedback, it underscores that CEO coaching isn’t a luxury or a fad; it’s the key to continuous improvement. A skilled coach provides something hard to come by in the C-suite: honest, unvarnished feedback. As one leadership expert observed, “the higher you climb, the less honest feedback you receive. Employees may fear repercussions…” A coach cuts through that filter. They serve as an objective mirror, revealing blind spots that no one else may point out. Even the boldest CEOs have areas they don’t see clearly – whether it’s how their communication style is received, habits that unintentionally stifle others, or tendencies to avoid certain conflicts. A coach’s job is to shine a light on those areas in a way a board member or employee often can’t.
From Isolation to Insight
It’s often said “it’s lonely at the top.” CEOs make decisions that few in their organization can fully grasp or candidly critique. This is where coaching becomes a CEO’s secret weapon. The coaching relationship offers a rare safe space for leaders – a confidential sounding board with no agenda except the CEO’s success. In fact, every person inside your company has their own angle or stake in decisions, whereas an external coach has no such agenda. This creates a trust environment where the CEO can openly explore ideas, fears, or doubts with someone whose only goal is to help them lead better. “A good, neutral third-party assessment is a clear reality check for executives,” notes one Stanford study, because blind spots often stay hidden “when things are going well” – until suddenly they’re not. By then, damage may be done. Regular coaching conversations prevent that by catching issues early. For example, CEOs commonly struggle with conflict management; nearly all tough issues that reach the chief executive involve making someone unhappy. It’s telling that in one survey, CEOs said the skill they most wanted to develop was better conflict resolution. A coach can help a leader navigate these conflicts constructively – to face tough conversations rather than avoid them – so that small problems don’t fester into large ones across the organization.
Tangible Benefits Performance, People, and Profit
Skeptics might ask, “Does coaching really pay off?” The data says yes. Studies have found that organizations see an ROI of up to 788% on executive coaching programs. That’s not a typo – in some cases, coaching has nearly an eightfold return by improving leadership effectiveness and business results. At an individual level, coached executives have reported 70% improvement in their own performance, 50% improvement in team performance, and nearly 50% improvement in organizational performance measures. And importantly, 77% of executives noted better relationships with stakeholders as a result of coaching. These gains come from what might seem like “soft” changes – better communication, clearer strategic focus, more empowered teams – but they translate into very real business outcomes. For instance, when a CEO learns to delegate and stop micromanaging, their team grows more capable and innovative, and the CEO can focus on higher-level strategy. When a CEO improves their emotional intelligence (another area coaches often work on), it boosts morale and retention; employees feel heard and valued, which can reduce turnover. In short, coaching helps leaders multiply their impact: it’s the classic case of working on the business (and oneself) rather than getting endlessly lost in the business weeds. As leadership coach Marshall Goldsmith famously put it, “What got you here won’t get you there.” The habits and skills that take an executive to the top aren’t always the ones needed to excel as a CEO. Coaching helps successful people become great leaders by shifting the focus from themselves to others and to the bigger picture.
Stories of Transformation
Consider the transformation of Eric Schmidt at Google. Once he accepted coach Bill Campbell’s guidance, Schmidt started approaching problems with a new perspective. Campbell’s frequent advice to him was to “take the long view” – to step back whenever he got mired in a business conflict and look at it from one level higher. In one instance, when a negotiation was consuming Schmidt with frustration, Campbell simply told him, “You’re letting it bother you. Don’t.” That simple outside counsel helped Schmidt diffuse his frustration and make decisions more calmly. Or take Jack Welch, the famed former CEO of GE: Welch was known as a confident, even brash leader, yet he too had a long-time advisor. In fact, many credit some of Welch’s growth to having an outside mentor/coach who wasn’t afraid to challenge his ideas. The common thread in these stories is humility – the recognition that great leaders are lifelong learners. Seeking coaching is a form of disciplined self-improvement. It signals that, as a leader, you’re not settling for good enough. You’re proactively seeking an edge for yourself and your company.
Actionable Steps for Embracing Coaching
Actionable Steps for Embracing Coaching: If you’re a CEO or business owner contemplating coaching, consider a few steps to get started:
1. Adopt a Growth Mindset: First and foremost, approach coaching (and any feedback) with the attitude that there’s always room to grow. As one coach quipped, “Success is a lousy teacher” – big wins can seduce you into thinking you can’t lose. Don’t let success create blind spots. Embrace the idea that an outside perspective can reveal opportunities for you to become even better.
2. Find the Right Coach: Look for a coach who has experience with leaders at your level and a style that fits your personality. Great CEO coaches come from varied backgrounds – some are former executives, some are psychologists, others are seasoned business advisors. What matters is trust and chemistry. You should feel your coach “gets” you and genuinely cares about your success as a person and leader. Bill Campbell, for example, was beloved because he “obsessed over people” not spreadsheets – find someone who will invest in you, not just your KPIs.
3. Be Radically Honest (with your Coach and Yourself): Once you engage a coach, commit to candor. Lay out your challenges and even your fears. If you feel imposter syndrome, or you’re avoiding a tough personnel decision, say so. The value of coaching correlates to the honesty of the dialogue. Remember, this is your safe zone – “a rare and safe place” where you can openly work through issues without judgment. The more forthright you are, the more your coach can help.
4. Solicit Feedback from Others: A good coach will often encourage you to gather feedback from your team and peers – whether through interviews, peer groups or 360° surveys – to illuminate gaps between how you see yourself and how others experience your leadership. Don’t shy away from this data. It can be gold. Use it as fuel for your coaching conversations. It takes humility, but leading by example in seeking feedback sets a tone that can cascade through the culture. As one expert noted, “great leadership starts with listening,” especially listening to feedback.
5. Apply and Practice: Coaching isn’t an academic exercise – its power lies in real-world application. After each coaching session, identify 1–2 key takeaways or new behaviors to practice. It could be something tangible like “hold a candid conversation with my COO about our product delays” or “solicit input from quieter team members in meetings to improve my listening.” Commit to these action steps and discuss the outcomes with your coach next time. This builds accountability. Over time, these small behavior changes compound into noticeable leadership growth.
6. Foster a Coaching Culture: Finally, as you experience the benefits of being coached, pay it forward within your organization. Great CEOs become coaches themselves to their teams. Share what you’re learning. Encourage your executives to seek mentors or coaches. When a leader openly works on themselves, it normalizes development for everyone. You might even bring a “coach approach” to conversations – asking more questions, listening more deeply (just as Campbell urged Jobs to do), and empowering others rather than dictating. This not only strengthens your company; it reinforces your own growth by continually practicing the coaching mindset.
7. Complement with Peer Groups: It’s all about the perspectives. We all get into group lock from time-to-time. Fresh eyes will cut through the clutter faster than anything. Business is constantly in search of fresh perspectives; it fuels the consulting industry. Well practiced peer groups, however, that are unbiased and uncompensated—without a dog in the fight so to speak—provide the most unvarnished truth. There is no incentive to tell you anything other than the truth. As the saying somewhat goes–the truth will set you free to make better decisions.
The Bottom Line
In the high-stakes world of running a business, having a confidant and guide in your corner can make all the difference. CEO coaching offers a powerful edge – a way to sharpen your leadership saw continuously. It’s no surprise that so many top performers – from iconic tech CEOs to Wall Street executives and beyond – have quietly relied on coaches as their behind-the-scenes advantage. The late Bill Campbell, who had a hand in countless Silicon Valley success stories, believed in presence, trust, and an unwavering belief in people as the core of great coaching. Those “soft” elements created hard results – companies that thrived and leaders who left a lasting legacy. The message for any chief executive or entrepreneur is clear: you don’t have to lead alone. Investing in your growth isn’t a sign of weakness; it’s the ultimate power move. As you refine yourself, you amplify your company. In the words of one coaching client-turned-evangelist, “If Steve Jobs needed a coach, why wouldn’t you?” Embrace the journey of CEO coaching, and you might just find it’s the secret weapon that helps you unlock your own greatness and drive your business to new heights.