Introduction:
As leaders of their organizations, CEOs play a pivotal role in shaping the direction and success of their companies. However, even the most accomplished CEOs can fall victim to time-wasting habits that hinder their productivity and prevent them from focusing on critical tasks. In this blog post, we will explore some of the top ways CEOs waste their time and offer insights on how to overcome these inefficiencies.
While I’m sure you don’t do all of these, I’m guessing that some of them will resonate and offer opportunities for improvement.
1. Attending unnecessary or unproductive meetings:
CEOs often find themselves caught up in a never-ending cycle of meetings that either do not align with their core responsibilities or would be better handled without them there. In fact, often when a CEO attends a meeting, they will unwittingly steer the conversation to their way of thinking rather than truly allowing the free-flow of ideas from the rest of the team. Even when the CEO has expressed the desire to have a truly open dialog, there are many cases when this cannot take place with the CEO in the room. A better and more time-efficient strategy might be to have the team meet, create a set of options, and then make their recommendation for the CEO’s final ratification.
Another meeting challenge is holding meetings that do not contribute to meaningful outcomes. Setting clear objectives for meetings and encouraging concise, focused conversations can help CEOs avoid wasting time on fruitless debates. In fact, one of the practices I learned at Intel, was that every agenda item has an agreed-to “expected outcome” (e.g. what decision is being made or is it just informational?) More importantly, who was required to be there for that agenda item. This allowed the arrangement of the agenda to enable only those who needed to attend for those items where they were required. By reassessing and delegating meeting attendance to relevant team members, CEOs can free up valuable time for them to concentrate on strategic decision-making.
2. Lack of effective delegation:
CEOs who fail to delegate effectively may find themselves juggling multiple tasks that could be handled by their team members. There are generally two barriers to delegating to staff. The first is the concern that the employee doesn’t know well enough what needs to be done and the second is that the CEO knows exactly what needs to be done and doesn’t feel it’s worth the time to explain in that much detail (or it’s quicker to just do it). Both of these really come down to an ego problem on the part of the CEO. Get over it! There is no way the CEO can do everything, so they must learn to delegate. And the sooner the CEO learns effective delegation, the sooner they can have a strong staff that is capable even in the absence of the CEO.
If it’s a matter of training, then the CEO should set up a framework or boundaries to the delegated project with milestones or regular checkpoints to make sure the project is proceeding in the direction and the pace required. If it’s a concern that the team member may not do it “the right (i.e. CEO’s) way, then have the delegatee come up with a plan to be reviewed prior to any action. It’s possible that the new plan may actually be better than the one the CEO had in mind.
Be very aware of micro-managing. While it's important to stay informed about the workings of their organization, CEOs who micromanage every aspect of their team's operations risk driving truly capable team members away, not to mention the wasted time that could be better spent on higher-level tasks. By identifying and assigning responsibilities to the right employees, CEOs can alleviate their workload and concentrate on strategic initiatives that drive growth and success. Empowering employees, fostering trust, and delegating responsibilities can help CEOs focus on their true leadership role.
3. Unstructured workdays:
Without any structure to their schedule, CEOs may find themselves tackling tasks haphazardly, resulting in wasted time and decreased productivity. CEOs need to establish clear boundaries to avoid interruptions and distractions that hinder their focus. In addition to the never-ending task list, CEOs should also set aside time for strategic thinking. Some interruption is inevitable, so I would not advise every CEO to block out every moment of their day. However, implementing time management techniques, such as setting daily priorities and allocating specific time blocks for critical activities, can optimize the CEO's workdays, allowing them to make the most of their time.
This also means they should set boundaries around work hours. (Yes, there should be hours they do not work, so they can rest and rejuvenate - more on this in a future blog.) By setting expectations and establishing boundaries, such as designated quiet hours. uninterrupted work periods, and even non-work hours, CEOs can safeguard their time and ensure they are energized and able to focus on critical tasks.
4. Focusing on the wrong things:
It is imperative for CEOs to distinguish between tasks that require their attention and those that can be addressed by others. Again, there are a few ways this can show up for the CEO. One we covered in a previous blog. Do not do work that should be done by a consultant. Even if it is mission-critical, if you don’t have real expertise and are unlikely to need to do it again, you are much better off hiring outside expertise. It will be done better and faster and likely cheaper than doing it in house.
The other primary way CEOs focus on the wrong things is by getting too embroiled in the details rather than staying big picture and letting others handle the minutiae. Getting too caught up in minor details can divert CEOs from more critical decision-making processes. This can manifest itself in a variety of ways. Whether it's spending too much time on email or too much time going over the details of the sales pitch with the VP of sales, prioritizing and focusing on high-impact, strategic activities ensures that CEOs are making the most of their time and expertise. Remember the role of the CEO is as a leader rather than a “do-er,” so any time a CEO is “doing” there are probably better things to focus on.
Conclusion:
Time is a precious resource for CEOs, and how they utilize it can significantly impact the success of their organizations. By recognizing and addressing time-wasting habits, such as attending unproductive meetings or a lack of delegation, CEOs can optimize their productivity and focus on strategic decision-making. Additionally, doing things like adding some structure to the workday and setting boundaries can help the CEO stay focused on the most critical tasks and truly lead their company toward their future goals. Most importantly, focus on the critical, long-term leadership tasks that define the role of Chief Executive - more on that in a future blog as well.