Situation: A CEO is involved in a number of outside Boards and organizations, both because this involvement helps the company, and for personal reasons. Recent changes in family demands are now prompting reconsideration of this level of involvement. How do you prioritize demands on your time?
Advice from the CEOs:
List all of your priorities – both business and personal – and the amount of time that they require on a weekly or monthly basis. For non-family activities, rate each in terms of importance both to your organization, and to your heart.
Decide how many outside Boards or organizations you are willing to participate in and how many hours of the week or month you are willing to allocate to this.
Reduce your involvement in outside boards and organizations so that you get the time commitment down to what you are willing to allocate. Thereafter, to maintain control of your time. If you add a new commitment, drop an existing commitment.
Where you have commitments that are important to the company, but lower priority in terms of your own passion, delegate representation to good people within your company. This both maintains company presence and enhances their professional growth.
Where you want to terminate involvement let the organization know of your plans in advance, and negotiate a phase out schedule and timeline. They will appreciate your working with them.
Consider putting someone between you and your calendar to communicate with those making new requests for your time. This person can say no more easily than you can.
Situation: A company is enjoying a good year both adding new business and serving current clients. When business is good the CEO finds it difficult to focus on all of his initiatives. This is frustrating. How do you maintain focus on your top initiatives when it gets really busy?
Advice from the CEOs:
When times are good, many new opportunities arise. If you have too many initiatives, you lose focus and have difficulty achieving them. Limit your initiatives to 2-3 at a time, focus on them, get them done and done right. Then pick your next 2-3 most important initiatives.
Schedule time for your initiatives on your calendar. Honor this time commitment just as you would an important customer appointment.
You might try a daily prioritized list of 4-5 small things and one big thing and focus on these for the day. Keep track of other priorities on a separate To-Do List.
Hire an assistant to whom you can delegate the small things – including the background research on your big initiatives. This gives you more time to focus on the big things, and the important decisions within the bigger projects.
Create a planning calendar for your initiatives. Assess each initiative for level of effort required, determine specific deliverables, and the amount of time that it will take to complete the initiative. Next, prioritize the list and take on a small number at any one time. This will help you both to complete the initiatives that you start, and to complete more of them in a given time period.