CEO – Time – Part III

We’re continuing our discussion about how a CEO uses her time (adapted from The Effective Executive by Peter Drucker). 

We all are barraged with demands on our time that add little, if anything, to our productivity.  But we know we can’t ignore all these requests for our time (even though many of these we would characterize as time wasters).  

And yet we know that for the CEO to be truly effective, she must dedicate considerable “chunks” of time to meaningful tasks.  What good does it do the CEO to start something, stop for an interruption, start again, stop again, etc.? 

When it comes to working with direct reports, a CEO must set aside the right amount of time if she is to truly have an impact on that individual.  Spending five minutes discussing a performance issue or a planned implementation of any sort just will not cut it.  I remember setting aside a minimum of one hour per month with each of my direct reports when I was President of Zion Industries.  We worked through a specific agenda regarding performance, career development, personal issues, etc.  It was not unusual for my hour-long appointment to stretch to 90 minutes or more.  But the time was well spent.  A CEO does not build relationships with her people unless she is willing to spend time with those people. 

The larger the organization, the less discretionary time the executive will actually have.  The more people there are in an organization, the more “people decisions” that have to be made.  These are always time consuming, but highly leveraged decisions.  Never rush a personnel decision.  Set aside large, continuous and uninterrupted periods of time to consider your people decisions. 

We live in a world that is fast paced.  Innovation and change are the order of the day.  Making quick decisions, according to Peter Drucker, usually involves thinking “about what one already knows and doing as one has always done.”  But making decisions based on only prior knowledge is not always effective in a world that is different today than it was yesterday.  Take the time to learn what has changed and how those changes will impact your decision making. 

So where are we at this point?  We have determined that executives have little control over their time and yet, to be effective, they must dedicate large, uninterrupted sections of time to thinking and interacting with their direct reports. 

How does a CEO find these “large, uninterrupted sections of time?” 

She doesn’t find them; she creates them.

Dr. Drucker states that effective executives generate an activity time log for three to four weeks twice a year—on a regular schedule.  By studying this “time sample,” the executive can rethink and rework her schedule.  The reason this must be done at least every six months is to allow for the inevitable “drifting” that takes place in a CEO’s time management.  Alas, as human beings, we tend to “slip” quite easily out of a disciplined habit. 

Let’s assume that you are now ready to begin this “time log.”  What questions should you ask yourself? 

1. Identify and eliminate things that need not be done at all—by anyone.  Each time you make a record on your time log, ask yourself this question: “What would happen if this were not done at all?”  If the answer rings back, “Nothing,” then stop doing it.  Learn to say “no.”
2. Next, ask yourself, “Which of the activities on my time log could be done by somebody else just as well, if not better?”  Get into the habit of delegating to others everything that you do not have to do personally.   The CEO will never be able to “get it all done.”  So why not focus on the priorities of what a CEO is supposed to do—and delegate the rest?  Please note the word is “delegate”—not abdicate.
3. Another question to ask yourself, “How much of the time of others do I waste?”  How can you discover the answer to this question?  Ask other people.  “What do I do that wastes your time without contributing to your effectiveness?”  Put your thick skin suit on—the truth hurts. 

Here is an interesting story from The Effective Executive regarding effectiveness: 

“Harry Hopkins was President Roosevelt’s confidential advisor in World War II.  A dying, indeed almost a dead man, for whom every step was torment, he could only work a few hours every other day or so.  This forced him to cut out everything but truly vital matters.  He did not lose effectiveness thereby; on the contrary, he became, as Churchill once called him, ‘Lord Heart of the Matter” and accomplished more than anyone else in wartime Washington.” 

Indeed, impact is not necessarily measured by the amount of time that we spend but in how effective we are in the use of that time.  I was reminded again this week as to how the “urgent” tends to squeeze out the “important” in the use of my own time. 

This past Wednesday I was given the privilege of speaking to the Geneva community about how I came to know Christ personally and what my walk with Him has been like over the years.  The title of my presentation was, “My life with Elvis…or…What I want to be when I grow up.”  (If you’d like a written copy, just send me an email) 

My comments were well received and I have been blessed by the experience.  However, the greatest blessing has come as I have shared that presentation with my own children.  Discussing my walk with Christ (the victories and the defeats) with my oldest son and daughter has done more to solidify our relationships than just about anything I’ve ever done.  My point is this—I had time over the years to have this type of discussion with them.  I just never did.  It didn’t seem to be that important.  Or more likely I thought, “I’ll do that someday in the future.”  That was a mistake.  The best time to reveal your heart to those you love is today.  That is a great use of your time. 

Keith

www.daystarconsulting.com