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Successful CEO’s have the ability to spend their time in the most efficient way possible. Their focus is to grow their organization. They’re focused on encouraging their employees to work hard for their company. CEOs are master delegators. They spend less than 40% of their time focused down, managing others. Instead, they spend upwards to 30% of their time looking up and another 30% looking out.
One of the CEO’s main purposes is to be the public face of their organization. They’re the person that shareholders and boards of directors look to for answers. They communicate direction, information, and offer reassurance. This leaves stakeholders feeling confident on where to spend their money.
Well informed stakeholders are able to make better decisions. This includes where and how much they invest in an organization. With investment funds at stake, spending time with stakeholders is an effective use of a CEO’s time.
Looking and Listening Out
What good is the public face of an organization if it’s not seen? An amazing CEO is a well connected and networked CEO. This means they can’t get stuck behind a desk managing. They must get out and spend time with customers, competitors, influencers, collaborators.
If they want to help their company grow, they need to open their ears. They should always have their ear to the ground listening for ways to improve and grow in innovation. They need to hear the good, the bad, and the ugly. They use this information to mold their products into what customers want. Industry trends change daily. It’s important to be able to move and flow with those trends. This is all the more reason for a CEO to spend time looking out and listening out.
Knowing When To Look Down
Effective CEOs, know how to identify tasks they must complete and tasks they can delegate. They delegate those tasks to leaders in their organization who know how to do the same. Those leaders use the same process to move the tasks down to the appropriate department. This way tasks get assigned to employees whose time is best served completing them.
This process of delegation gives CEOs more time to spend where it’s needed most. They don’t get bogged down with managing their teams. They know when and where to spend their time. This allows them to lead up and out more than they lead down.
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