Your time is valuable and as a business leader, you divide your time between working in the business and on the business. That division can be determined by what you feel most comfortable with and what you are best at. The important question to ask today is, what does your business need more of — making the “donuts” or knowing when it’s time to make a change and add “bagels” to the menu?
How are you spending your time, and is it having the impact that your business deserves?
Begin by identifying the drivers that affect how you spend your time. Take stock in what you’ve learned through leading the business through a challenging time. Categorize what you’ve learned into these four areas: customers, employees, services offered, and suppliers. How these four areas performed will influence how you’ll have to spend your time. The areas that held up under pressure will need less attention than those that were more fragile. This review will influence where you should focus your attention.
Balance your time to get the best return for your efforts. Allocate time between the things that you can get accomplished quickly and that take less time, and those that require longer range planning, but have a higher level of return. It’s usually a mix of the two for most business leaders. Don’t let a two-page to-do list that is not categorized or prioritized impede your forward progress.
When you look back at economic disruptions, we often see an inflection point that occurred in the industry. Some of the choices you make by working on the right things can determine what side of that inflection point you end up on. If you decide to just ride things out, or if you decide to become a disruptor and work to create your own destiny are two of the choices you can make. Work at getting the right things done and make the best decisions for you and your business.
I welcome any thoughts or questions, please add them below or reach out to me directly.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic counsel, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at firstname.lastname@example.org.
This blog originally published in Printing Impressions