High-stakes business is an "elite sport." Just as top athletes rely on coaches and therapists, business leaders should proactively build a support cast of mentors and counselors to manage stress and improve performance, rather than trying to "go it alone."

Success insulates leaders from criticism. As people start giving you the benefit of the doubt, you receive a distorted, overly positive signal. A successful CEO's crucial task is to intentionally surround themselves with intellectually honest 'truth-seekers' to get unfiltered feedback.

A career development exercise from Pfizer, "Me, Inc.," advises leaders to formally map out their own personal "board of directors." This involves identifying specific individuals who can provide perspective and advice on business challenges and career navigation, creating a structured support system.

While a board is crucial, it also determines a CEO's employment, creating a barrier to complete transparency about personal shortcomings or critical challenges. An external mentor provides a safe, confidential space for a CEO to be vulnerable, bounce ideas, and get candid advice on sensitive issues like team problems or hiring mistakes without fear of reprisal.

Instead of a single mentor, build a "personal board" of diverse advisors from different industries and roles. Treat this group like your own "Hall of Justice," strategically tapping into each member's unique superpower based on the specific problem you're facing.

Rather than seeking traditional mentors, Allspring CEO Kate Burke advises building a personal "board of directors." This is a curated, dynamic group of people from different areas of your life who provide diverse perspectives on challenges, with members rotating as your career and life evolve.

A CEO's best defense against the negative effects of power is a team that challenges them. Boards should actively oversee the selection of the executive team to prevent the CEO from defaulting to comfortable, loyalty-based hires who won't provide critical feedback.

Senior leaders often become isolated. Actively participating in a peer community, even with competitors, is crucial. These groups serve as therapy, a source of new perspectives, and a network for problem-solving, acting as a "cheat code" for navigating complex challenges.

Transitioning to the C-suite is isolating as you lose your former peer group. To compensate, create a trusted network of former colleagues at other companies. This allows for 'under the radar' discussions about best practices and challenges, providing a crucial sounding board.