094: Four evidence-based reasons why CEOs don’t invest in self development

Are you investing in yourself? What is your relationship with personal development as a CEO or leader?

95% of CEOs don’t invest in themselves but why is this the case? In this episode, Andrea explores the reasons so many CEOs don’t prioritise their personal development and the reasons why this needs to change, especially if they want to be an effective leader and grow a successful business.

KEY TAKEAWAYS

• The top CEO’s spend 25k on personal development whilst many other CEOs do not, could this be the secret to their success?
• Many CEOs can suffer from what Andrea calls an overconfidence bias, meaning they don’t perceive that they have a reason to, or need to prioritise personal development
• Successful CEOS generally attribute success to their own personal skills and abilities so once they have had success, they don’t see the need to progress themselves and work on themselves further
• A fixed mindset means that a CEO may feel like they can’t alter or change who they are and their skillset
• Time allocation bias can cause a CEO to not prioritise their own personal development as they are too busy and focused on other tasks within the business
• CEOs who invest in their personal development see a significant boost in their companies performance
• Lack of investment into personal development and growth leads to stagnation in the individual and the company as well as eventually failure

BEST BITS

“Fortune 500 CEOS on average spend 25k per year on personal development”

“Past success tends to boost ego too if you aren’t allowing yourself to be balanced”

“This mindset can lead to a belief that investing time and resource in personal development isn’t necessary”

“CEOs saw a 5% increase in profitability within two years of partaking in personal development programmes”

VALUABLE RESOURCES

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ABOUT THE HOST

My name is Andrea Petrone. I'm a Human Performance and Leadership Advisor, Executive Coach and International Speaker. I help leaders and their teams to change their mindsets and master their leadership capabilities so they can achieve extraordinary performance. I've been in the corporate world for more than 20 years working globally - in 6 countries and 3 continents - for medium-large companies.