Growth: Peter Banko - The Mindset of a Successful CEO | E33

How can aspiring CEOs face the challenges of leadership while maintaining a strong sense of purpose, empathy, and self-awareness?

Co-host Ryan Harris and Bennie Fowler sit down with Peter Banko, the CEO of Baystate Health. Peter shares his journey as a CEO and lessons learned along the way as a titan in the healthcare industry, he opens up about leadership, creating change, and building successful teams. He emphasizes the importance of staying on top of details, being consumer-friendly, and fostering a culture that values diversity, equity, and inclusion. Throughout the conversation, Peter shares personal anecdotes and experiences that have shaped his leadership style, including the impact of having a supportive family and the value of self-awareness. Listeners will gain a deeper understanding of what it takes to be an effective CEO and how to navigate the challenges that come with leading a large organization.

[00:00 - 08:52] Peter Banko's Journey to Leadership

• Peter shares his beginnings 
• He discusses the two things a CEO controls: office appearance and team selection
• The importance of building relationships as a CEO

[08:53 - 12:29] The CEO role from a timeline perspective 

• The role that CEOs plays in transforming an organization's culture
• The impotence of having an abundance mindset
• Ego and humility in decision-making

[12:30 - 18:42] Leading Change: Navigating the Challenges

• Peter shares the story of implementing a High-Reliability Organization (HRO) model
• He emphasizes the importance of involving frontline workers in designing their work
• Clear communication and creating a case for change

[18:43 - 20:29] Firing: Balancing Kindness and Business Needs

• Peter shares his experience of being fired and how it influenced his approach to letting people go
• Being kind and helping people transition out of the organization
• The need for short and sweet conversations when firing someone

[20:30 - 28:02] Building High-Performing Teams

• Peter shares examples of high-performing teams he's been a part of
• Mission, values, and purpose in driving organizational success
• Diversity, equity, and inclusion in building strong teams

[28:03 - 32:07] The Value of Executive Coaching and Self-Awareness

• Peter shares his experience working with an executive coach
• The importance of self-awareness and knowing one's strengths and weaknesses
• The need for CEOs to have a professional network of peers to consult with

[32:08 - 34:30] Balancing Family and Career

• Balance between family and a demanding career
• The importance of having a supportive spouse and family
• The challenges of moving frequently for career advancement

Key Quotes:

"CEOs need a healthy balance of ego and humility, and there's a fine line." - Peter Banko 

"People confuse activity with results." - Peter Banko 

"If your family's not on board with you being a CEO, it's probably not going to work." - Peter Banko 

Reach out to Bennie Fowler!

Instagram: @benniefowler1

Twitter: @BennieFowler123

Reach out to Ryan Harris! 

Instagram: @ryanharris_68

Twitter: @ryanharris_68

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