I hosted a dinner last week — a dozen Chief Medical Officers from a variety of biotech companies. I try to arrange these informal get-togethers quarterly in different cities, usually in a private space at a nice restaurant.
Sometimes, everyone knows each other. Other times, no one does. This was a mix, so we began by going around the room with each person sharing “their story.” Essentially, How did you end up where you are now?
The range of experiences was all over the map. There were “accidental” CMOs (people who never intended to end up in these positions), first-time CMOs, and serial CMOs. Some were currently in difficult situations, others had recent strong exits. All had many twists and turns.
To me, it’s always both fun and fascinating to see how the dots have connected for each person on the path to wherever they have ended up. It’s also comforting to hear that things have a way of working out, no matter what.
As the stories were told, there was a lot of laughter, congratulating, and support. Everyone could relate. Talking with others in similar roles is invaluable. In addition to the bonding and understanding, it also enables a context to evaluate your skills and experiences among a group of people who inhabit the same territory.
The CMO is a difficult, often lonely job. So it makes sense that connecting with peers is useful. But the truth is, getting together with people in all kinds of similar situations – laid off, retiring, new parent, etc. – can be enormously helpful on many levels.
Peer Groups Have Tremendous Value
For most of my 27 years as an entrepreneur, I have been involved in some type of “founders group.” I credit these with helping me stay sane, avoid missteps, and grow as a leader and a person.
The group I am currently part of is made up of business owners from a variety of industries. We all do different things, but there is so much commonality among our respective lives and businesses. Frankly, it’s one of the most healing, helpful things I do in my professional life. I am always looking forward to the next event.
First, because people in like roles – whether business owners, CMOs, or something else – face many of the same issues. We have similar stories and similar challenges. It’s an opportunity to compare notes, gather new ideas, and adjust based on real experiences (good or bad). You can’t get that level of insight from a book or seminar.
Second, because these groups are predicated on generosity and contribution – these are not competitive environments. Rather, they are intended to be positive and encouraging. I leave these meetings feeling reenergized and grounded… like I’ve been to the spa!
Some of the suggestions or diagnoses shared can be hard to hear. But trust is high and the advice is always constructive. Knowing that your peers completely understand what it’s like to be in your shoes, even the painful feedback feels good. These gatherings create the space to open up and share what’s really going on.
Don’t Suffer in Silence
My plea to you is simple: If you are not currently part of a peer group or professional network focused on collaboration and mutual support, please consider joining one. You are missing out on a valuable opportunity. These connections are critical – especially now, given the degree of stress and uncertainty in our industry, our political climate, and the world.
When you invest time to build meaningful relationships with peers who understand your challenges and their context, you gain much needed perspective, guidance, and clarity, while also increasing your own resilience.
It doesn’t have to be complicated. Start small: reach out to a trusted colleague and invite them to bring along another professional. It can grow organically from there.
After all, if ever there was a time we need one another, it’s right now.
P.S. If you need help, feel free to let me know. I love connecting people and am happy to help however I can!
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