By following these ideas, from the ignition to the liquidity event, you will spot a continuous theme, emphasizing the need for deep and deep relationships that the CEO and senior executives can ask for to get advice and advice. It's time to raise these ideas to the highest value level for the company, one that can not be listed on a balance sheet or be included in a value assessment of a company. business.
And yet such relationships, properly used and never overused, can quickly and accurately help a CEO reduce delays in government agencies, speed up the process of product planning and final release, help to position oneself in the marketplace and help the CEO avoid a myriad of errors that could prove costly in time and money.
Analyzing Your Time Commitments for Business
Young CEOs often ask me how much time should be spent on various types of tasks by a good CEO in a small, growing business. Of course, the answer depends on a lot of variables, including whether the company is in a fundraising mode (in which case the CEO can spend up to 80% of his time on this alone).
I am President of the Technology Division of the ABL Organization, a roundtable grouping several CEO Roundtables from a dozen members each, meeting each month. Each CEO is invited to make a thorough presentation once a year in which he or she begins with personal and business goals for the coming year, followed by concerns as to how to reach these objectives. Much of the rest of the presentation is devoted to explaining to the group the causes of the concerns and providing information that the group could use in the feedback session to help the CEO find solutions and provide resources to the CEO. ]
The format also asks the CEO to review his schedule in time and report the activity classes as a percentage of total time spent, so that the group can add comments on the usage from the CEO's time for criticism. This is from over a thousand of these CEO presentations over the years that I am trying to make these generalities.
How much time do you devote to each type of activity?
A good CEO spends at least 30% of his or her time dealing with customers, including meeting with customers directly and participating in the conclusion of larger transactions, maintaining relationships with CEOs and at Explore the needs of the customer that could be satisfied by the development of new products. 15% are typically devoted to direct management issues such as supervising higher level subordinates. 15% could be spent networking with members of the CEO's Circle of Relations, including roundtable organizations. 10% is usually networked with board members, usually with frequent phone calls, and getting ready for board meetings. 10% is typical in exploring strategic concepts, reading new developments in the industry and just spending quiet time contemplating opportunities.
There are many other classes that a typical CEO will list for the remaining 20%, some focusing on time spent in meetings of all kinds, grouped as if all meetings are of equal value. The group often pays special attention when this happens because it is a sign that the CEO considers that meetings of all kinds drain the time available, and that few meetings are of particular importance.
How many hours do you devote to your business each week?
Whatever the case, the breakdown of percentages to make 100% of the time of a CEO, it is asked the CEO to estimate the average number of hours spent each week at work or at work. Most answer between 60 and 80 hours a week, highlighting what you already know, that CEOs are not often 40-hour workers. But again, in this new world of permanent communications, who is it?