Mastering Time Management for Start-Up C-Suite Executives
Time management is a challenge for all executives, but for C-Suite executives who are establishing a start-up, it becomes even more important. There is a delicate balance to be found between the current needs of the company, the infrastructure and staffing that will be required in the upcoming months, and the time and resources being put forth. By taking the time to establish a plan, you will save valuable time that you can use in more productive ways.
Develop a Navigation Map
A strategic growth plan is essential for preparing for continuous expansion. Without one, you will inevitably experience wasted resources and unexpected challenges. By developing a navigation map, so to speak, you can create a plan that builds upon itself as you grow. As you hit specific milestones, you’ll know that it’s time to hire new staff, add capabilities to your systems, or begin new initiatives.
Strategically Build Your Team
For start-ups and small businesses, each team member must be exceptional in their core competency and competent in many other areas. Being strategic about who you hire is nearly as important as developing your overall plan for growth. As you build your team, be sure to focus on all of the candidates’ skills, beyond those defined in the job description. Consider how each candidate would grow with the company and which roles they would fill in the future.
Establish a Clear Leadership Plan
While established companies have a layer of mid-level managers, C-Suite executives of start-ups and small businesses often find themselves directly managing teams. Be deliberate about your management style, so as to never waste time and energy. Know your team, including which members need more one-on-one guidance and which ones are able to work more independently. Regardless, always remain in the loop, as poor choices at the start-up stage have a greater impact on the company’s viability than for more established businesses.
Implement Systems and Processes
One of the most common ways we waste time in business is by never establishing systems and processes. From constantly creating new forms or documentation for routine communications to always developing new solutions for reoccurring tasks, reinventing the wheel takes enormous time and energy. It also leaves your company vulnerable to mistakes, misguided decision-making, and lost knowledge if a key person leaves the company.
Prioritize Your Bandwidth
Time is money, and your time is expensive. Understand your bandwidth and priorities, and delegate whenever possible. It’s easy to think that you will save resources by doing something yourself, but always consider what you will have to give up in order to tackle that task.
As a C-Suite executive, entrepreneur, or business owner of a start-up or small business, it’s essential to understand how to leverage your time and resources in a way that makes the most out of both. As a Certified Business Coach, I work with my clients to tackle these challenges and many others.
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About the Author
Craig Korotko is a creative, results oriented C-Suite executive with extensive experience and achievement in creating technology solutions that deliver products and services to the financial industry. As a business coach, Craig Korotko combines his passion for leading small companies and growing them in competitive markets with his ability to lead large cross-functional teams.
In his over 30 years of corporate experience, Craig has worked with startups to Fortune 500 companies with a demonstrated track record of success. He wants to make sure you are not too busy working in your company instead of working on your company. Start the conversation with a simple, complimentary 30-minute advisory discussion. Contact Craig today.