30 Second MBA: How do you prioritize your day?
Check out our Skool Principal, Darrell Kopke’s response to Fast Company‘s ’30 Second MBA’ question: How do you prioritize your day?
As an entrepreneur, how do I know what to prioritize?
As CEOs we are totally responsible for the success of our businesses. Most leaders I know are goal-oriented people who take charge, make decisions, and drive for results. But as entrepreneurs, we can get distracted by shiny new opportunities that give us short-term gains and revenues, but may not fit into our overall strategy. So how to prioritize?
I am a big proponent of a corporate vision. To me, a good vision statement provides context for general business decision making. It sets forth a legacy for your organization; how you know you can wrap up the company having changed the world in your own way. At institute B, we know our job is done when all business schools globally define the mandate of corporations as adding value to society AND delivering profits to shareholders. On that day, we pack it up.
Let your vision be your guide. Establish a legacy for your company. With that hovering in the back of your mind, set in motion a plan of action to achieve that vision. Specifically, create a gap list. Ask yourself, “given our future ideal vision of our company, what must we achieve in sales, learn in knowledge, gain in experience, establish in credibility, develop in expertise and develop as a network in order to achieve our vision?” Write it down. That is your gap list.
Now if you have audacious goals, this list is likely a long one. The good news is that you will always have something to do! Even if you hit roadblocks in one area, you can achieve results in another never losing steam or momentum on your path. This list will keep you focused. If an opportunity is not on your list, pass on it.
You can’t and don’t have to do everything yourself. Delegation becomes a mandatory aspect of your development – a tricky skill to learn for many entrepreneurs used to doing it all themselves. Delegation is a mandatory skill to learn, however, given the scope of work to be accomplished. My recommendation is to find people who have passions and genius around dissimilar to you. You don’t like inventory management? Good news, there are people out there who love it.
It takes a lot to grow a company. By creating a context and leveraging that to establish a gap list, you have a better ability to focus on your end result rather than distract yourself with new opportunities.
Click HERE, to see how other business leaders answered this question.
Written by: Darrell Kopke, Skool Principal