Last week two professors released the results of a 12-year study of how CEOs allot their time. Aside from the vast amount of valuable statistics, the study found that as a group their most significant regret was not setting a high enough standard for their direct reports.
Many leaders struggle with tolerating mediocrity. The danger with that lies in the resulting tactical focus drawing them away from strategically focusing on the future. If this is you, read my four steps to banishing mediocrity from your organization here.
Your team needs to know your strategic direction and how you plan to get there. The CEOs in the study spent 43% of their time furthering their core agenda. As we wrap up Q2, do you have a clear vision of the future? How about for Q3? If you are unclear of your strategy, schedule some quiet time for reflection using my guide here.
Create role-specific priorities aligned with your strategic agenda. Each team member must know what they are individually and solely accountable for at the end of the day.
This is where I see leaders often stumble. They fail to make important decisions, or they fail to communicate their decisions. Both result in a great deal of wasted time and energy. Everyone on the team needs to understand who makes decisions on each topic.
Are you communicating your strategy regularly in multiple, inspiring ways? Stories, video, and personalization win over fact, data, and email.
Create a robust pipeline for all critical roles on your team whether it’s a leadership role or technical expertise role. The CEOs in the study spent 25% of their work time in meetings primarily focused on developing relationships within the organization.
How are you allocating your time?
Are you investing enough time focusing on the future advancing your strategy and developing your team?
There is Not Such Thing as Life Balance!