CEOs are often expected to have all the answers, which can lead to the trap of believing we’re always right. But true leadership is about embracing feedback to grow and lead effectively. Are you ready to listen?
Around August of this year, during a confidential peer group meeting, a General Director shared a challenge his business was facing: a delay in clients renewing contracts. Believing he was open to suggestions, another experienced member offered advice on how to improve the situation. However, the first executive dismissed the idea outright.
I noticed this behavior and pointed it out, to which he responded defensively. I remarked, “You just did it again.” Frustrated, the executive replied, “You’re not always right, Victor,” and, to the surprise of the other 10 executives, left the meeting. He later wrote to me, wishing the best for the Business Executive Network but stating that he would no longer participate due to what he described as “dismissive or condescending” feelings. He also cut off communication with me, unfriended me on Facebook, and removed our LinkedIn connection.
While such incidents are rare, I’ve observed that some senior executives are not open to new ideas. Marshall Goldsmith has said that feedback should be received like a gift. When given constructively, it provides an opportunity for personal and professional growth. Goldsmith advises expressing gratitude when receiving feedback, rather than rejecting, criticizing, or perceiving it as a threat to the ego. As he puts it, you may not like the gift, or think you need it, but you should accept it with appreciation—you never know when it might prove useful.
In our meetings, we discuss real challenges faced by our executive members. Occasionally, some members are quick to offer solutions, speaking as though they already know the answer. As the facilitator, I strive to gather input from everyone in the room, particularly from those who are more reserved, as they often provide insightful perspectives. Executives who leave these meetings with a “briefcase” of ideas have more options to move forward.
Several years ago, I was coaching an executive who dominated every conversation, leaving little room for questions or feedback. When reviewing his 360-degree feedback, which he shared with me, he rejected many of the comments. His inability to accept feedback stemmed from his ego. A few months later, he was fired and later, in a private conversation with me, he criticized his bosses’ decision to terminate his contract.
One common cognitive trap for CEOs is the Overconfidence Bias—the tendency to overestimate our knowledge, abilities, or judgments simply because we are accustomed to being right, or at least projecting confidence in our decisions. As leaders, we often find ourselves in positions where we are expected to have the answers, and over time, this can lead to a dangerous assumption: that we’re always right. This bias can hinder our ability to listen and learn, making us more likely to dismiss feedback or alternative perspectives. When we believe our way is the only way, we close ourselves off to the very insights that could improve our decision-making and leadership.
For CEOs, the stakes are even higher. Overconfidence Bias can cause leaders to miss valuable input, make flawed decisions, and isolate themselves from the team. Acknowledging that no one has all the answers, especially in a complex business environment, is crucial to avoiding this trap. To counteract Overconfidence Bias, it’s essential to remain open to feedback—especially when it challenges your assumptions.
“Humility in leadership means recognizing that even seasoned executives have blind spots, and the best way to uncover them is by fostering a culture where feedback is encouraged and valued.”
Stephen R. Covey, best known for penning The 7 Habits of Highly Effective People, warns leaders: “Beware! The higher you go in an organization, the less likely people are to give you straight feedback. Feedback is your life-support system. Without it, you will eventually fail. Do everything you can to create a culture where it is safe to give you feedback.”
Covey highlights the critical importance of feedback for leaders at every level. This approach keeps leaders grounded, self-aware, and continuously improving, preventing the disconnection that can lead to failure. Unfortunately, some executives focus more on impressing others and relying on their authority and past success, rather than developing areas where they are weaker. Combined with the pressures, responsibilities, and isolation that come with leadership, this can make them less open to new suggestions and be a deadly mix.
To counteract this, I suggest the following:
- Learn to Listen – When receiving feedback, focus on what’s being said rather than immediately responding or defending your position. Active listening helps you understand the core of the message without letting ego or emotions interfere. Practice listening to understand, not just to reply.
- Embrace Vulnerability – Admitting you don’t have all the answers is a strength, not a weakness. Acknowledging areas for improvement builds trust and encourages others to share feedback. Vulnerability enhances leadership authenticity and makes CEOs more approachable.
- Seek Diverse Perspectives – Get feedback from various sources, including those outside your usual circle. Diverse viewpoints can reveal blind spots. This includes feedback from different levels within the company, other industries, or even coaches and mentors who can offer objective insights.
- Manage Your Ego – Remember that feedback is about improving performance, not personal worth. Detach emotionally from the feedback, seeing it as a reflection of the role and the company’s needs, rather than an attack on your abilities.
- Acknowledge and Act on Feedback – When you receive valuable feedback, acknowledge it and act on it where appropriate. Team members are more likely to continue offering feedback if they see it leads to positive changes. Publicly thanking someone for their input can encourage more open communication.
- Engage a Coach or Mentor – An executive coach or mentor can provide candid feedback in a confidential setting. This allows CEOs to work on personal and professional development in a focused way.
- Self-Reflection – Regularly reflect on the feedback you receive and your own leadership behavior. Consider how to integrate these insights into your leadership style and decision-making process. Self-awareness is key to growth.
One thing I’ve learned is that leadership is a two-way street. If we care about our team members’ goals and values, they are more likely to care about ours. If we grow, learn, and listen, those around us will follow suit. And if we welcome feedback, those around us will be more willing to accept it from us.
