How CEOs Manage Time

It’s the scarcest resource you have. How you allocate it matters—a lot. 

Time management is just as important for a small business owner as it is for a corporate CEO.  Both positions require a significant amount of time and energy.  However, there is a problem, there is never enough time.

As the CEO you must manage your time to navigate the complex and demanding  challenges confronting your business by having a blend of strategic thinking, decision-making, and implementation steps to move your business forward.  You should already have some type of time management system in place.  If not,  there are  many  books, apps, YouTube videos and webinars out there that can help you set up a time management system that will help you maximize productivity and hopefully reduce stress.

But when you get right down to it, the corporate CEO and small business owner need to incorporate these six elements into their time management system:

1. You Gotta Have a Plan: Having a vision and setting tangible goals help streamline the utilization of time. Each day you should be working on things that will help achieve your annual goals and your longer term goals.
2. Prioritize Tasks: Identify what tasks are more important and need to be completed first. Don’t get caught up with the small stuff, delegate when you can. Your time is best spent on strategic activities and not daily tasks.
3. Plan your day in advance: Spending 10-15 minutes on planning your next day can save hours. Create a daily schedule that includes task lists and time to take and break. You have to pace yourself.
4. Practice Time Blocking: A useful activity management tool, time-blocking helps allocate specific time slots for specific tasks in your day or week. This can minimize distractions and ensures maximum productivity in a given time period.
5. Delegating tasks: As a small business owner, it may be tempting to handle every aspect of your business. However, effective delegation allows you to utilize your time efficiently. Assign tasks to your team members who have the skills and abilities required to perform those tasks proficiently.
6. Make Time to Read: Take time to read about economic conditions, trends in your industry and news from your market area. There are a ton of great online resources that you can tap into.  Remember that “readers are leader”.
7. Work-Life Balance: CEOs, like all individuals, require a balance between work and personal life. Time management should always incorporate time for rest, relaxation, and personal interests.

In conclusion, effective time management is not about being busy all the time—it’s about working smarter, not harder. By integrating these strategies into your routine, you can better manage your time, increase productivity, and reduce stress, all of which contribute to the long-term success of your small business.