Time Management for Leaders
Entrepreneurs complain about a lot of things:
Financial Challenges
Staffing Issues
Customer Acquisition
Marketing
Process efficiency
However, the one that seems to plague every entrepreneur is Time Management.
One of the biggest culprits are meetings. The Harvard Business Review reports that the average executive spends nearly 23 hours per week in meetings. With 71% of senior managers stating that meetings are unproductive and inefficient.
Why is this?
Meetings have lost their way. They were designed to solve problem, but instead they have become gatherings for teams to share information and update on the status of countless task, projects, initiatives… you name it.
The simple solution to recoup much of this time is to shift away, and if possible stop all, information sharing meetings. Instead, replace them with meetings that have a single focus: solve one problem per meeting.
Here is a couple helpful tips to get you started.
Make sure the team is aligned on the problem.
Make sure the correct people are in the room.
Make sure that any and all prep work was made (or is) available.
Make sure you have determined how long you have to solve the problem.
Pro tip: You do not need consensus. Pick someone that has final say, and once time is up have them decide. The team supports the decision, then trial, iterate and improve.
Implementing this strategy can not only cut down on ineffective meetings but it can also be a secret to success.
Harvard Business Review notes that 67% of business strategies fail due to poor execution. However, in successfully executing companies, 77% effectively translate their strategy into operational mechanisms and monitor-day-to-day progress.
Put another way, meetings should:
Teach you to execute. If ever meeting you solve a problem, you get better at execution.
Tie your strategy to-day-to-day progress. Meetings that solve problems directly linked to your strategic plan teach you to fix key issues, but more importantly, forces you to review your strategic plan regularly. A win-win for most businesses.
Want to find out more about how to tie your strategy to your day-to-day operations. Reach out via the form below with the subject heading “Monthly Health Check” and I will send you a free video.