By Tom Sponsel, CPA/ABV, CFF
Managing Partner
(Part 1 of 2)
When you’re the leader of an organization, one of the most important daily struggles is to determine where to spend your time. As a CEO (or whatever title you hold), it’s your duty to take a broad view of the company, recognize untapped opportunities and create the strategy that leads to greater success and prosperity.
Too often we fall into the trap of working “in” the business instead of “on” the business.
This is especially true of small- and medium-sized organizations, where the operations may require more direct oversight by the top leader. Sometimes this sort of personal intervention is necessary to make sure the “trains run on time” — keeping customers happy, making sure employees are motivated and on-task, products and services are being delivered on time, etc.
But if you’re the sort of CEO who wants the business to grow and evolve beyond where it is today, you should set aside time on a regular basis to take a step back and look at the bigger picture. Preferably at least once a week, reserve a portion of your schedule to assessing your processes and systems. Are they working the best they can?
It’s a matter of being a proactive leader instead of a reactive one. A reactive leader soon finds themselves constantly responding to crises large and small. Their days are so filled with responding to critical situations that there’s never any time to plan and strategize so these sorts of emergencies can be avoided in the first place. You become a CEO that focuses more on fixing the past errors, rather planning for your future successes.
A proactive leader devotes time to looking ahead, finding ways to make the company better and more efficient. They recognize weaknesses in their operation that could lead to strife, and endeavors to improve them so the worst scenario doesn’t come to pass.
When you have superior systems in place, most crises can be resolved before they happen, or any damages mitigated after the fact.
When a leader acts in this way, their team members will recognize them as a forward-thinking individual who strives to create a culture of continuous improvement and learning. You’ll find yourself with a stronger, more loyal workforce. Your whole company will be energized to focus on the FUTURE and your success!!
It can be very hard to set aside this time to planning. Most leaders of an organization already put in a lot of hours at the office, so it can seem like a zero-sum game. But if you make that effort to spend even a few hours a week toward analysis and planning, the rewards will come back to you multiplied many times over.
From a time management perspective, think of this not as a cost but as an investment toward a better future.
As a CEO or manager, your primary duty is to focus on creating the most value you can bring to your organization. By coming up with a vision for change and improvement, and working to implement it within your business, you will find this the best time you can spend.
In next month’s article, we’ll talk more about turning your vision into reality.
If you have any questions or comments, please contact Tom Sponsel at (317) 608-6691 or email [email protected].