Prioritize Time With An Open Mind To Get Best Results

Leaders in business choose how to prioritize time. But avoid the trap of robotically locking in plans. Fluidly shifting your attention as demands change yields the biggest results.

↑
X

NOW PLAYING
The Story Of William O’Neil: Learn About The Legendary Investor And IBD Founder

Being flexible is key. The same areas of your life don’t always require the same attention all the time. Business leaders, like NFL head coaches, need to evolve as the game does.

“I’ve spent most of my life learning and accepting that nothing of any significance happens when we’re in our comfort zones,” said Bob Parsons. Parsons is the founder of GoDaddy (GDDY), which he sold for $2.3 billion in 2011.

Top executives enhance career success by prioritizing time in a few foundational areas. And then they shift attention as needed.

Prioritize Time By Acting On Key Information

Good news is nice to have, but bad news is essential to hear, Parsons says. For him, there’s actually no such thing as “bad” news in business.

“Bad news tells you where you immediately need to focus your time,” he said. Ensure your employees don’t minimize damage or keep crucial information to themselves, Parsons says. Encourage them to bring it forward quickly.

“And remember, pointing a finger during a crisis isn’t helpful,” he added. “All energy must go toward fixing the situation.”

Prioritize Time Regarding Employee Satisfaction

When you put your employees first, success will often follow, says Parsons, author of “Fire in the Hole! The Untold Story of My Traumatic Life and Explosive Success.”

Happy employees convey enthusiasm about your company. “And, as we all know, enthusiasm is contagious,” he said. “Happy employees are productive employees.” More simply, he continues, if you take care of your people, “they will take care of and energize your customers.”

Salary, work-life balance and communication are always high on employee satisfaction lists. In addition, be aware of new things that emerge, as we’ve seen lately with the desire to work remotely.

Prioritize Time Through Internal Motivations

If you are solely building a business to make money rather than to deliver a great product or service, you are doomed, Parsons says.

“If you are building a business because you love it and want to make the world a little bit better by it, you will work longer and harder no matter how difficult or uncertain things get,” Parsons said.

He recalls his father saying that if you spend your time in a business you love, “it tells you all of its secrets.”

Focus On Small Daily Improvements

The Japanese term “kaizen” means continuous improvement. “Though I didn’t know this term when I started out,” Parsons said, “I’ve always followed it when building my businesses.”

He adds that if you focus on small steps daily to improve and more efficiently operate your business, “you will eventually achieve huge gains.”

Unearth And Articulate Your Company’s Values

Effective leaders make the most difference when prioritizing clear organizational values, says Anne Chow, former CEO of AT&T (T) Business.

These principles include core values, which exist today, as well as aspirational values, which exist for tomorrow. “You must fully develop and invest in those to deliver your goals,” Chow said.

Earning buy-in from your team is paramount. But so is articulating the consequences for the organization if values are not practiced, she adds.

“Tough decisions will often be more clearly and confidently made based on your values, which must be both stated and lived,” Chow said.

Determine The Lifeblood Of Your Company

No matter the kind of work you do, you are on a mission to yield desired outcomes for your stakeholders, says Chow, the author of “Lead Bigger: The Transformative Power of Inclusion.”

If you are not sure what your purpose is, ask yourself: “What if we didn’t exist? Who would care? And why?”

Chow offers the example of AT&T, where an emphasis was put on company performance during times of urgent need and crises. That was especially true during a natural disaster.

“We knew our purpose was to ensure connection, through our network, services and people” Chow said. “We knew that what we provided were essential services vital to both the pipeline and lifeline of our stakeholders. That purpose galvanized our teams to put in what often appeared to me to be superhuman effort. Without purpose, there is no inspiration.”

YOU MAY ALSO LIKE:

Meet The Guy Who Runs A Massive $2.7 Trillion Bond Portfolio

Be Detailed And Targeted To Raise Money

Inspirational Quotes: Columbus Short, Sam Rayburn And Others

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Find Winning Stocks With MarketSurge Pattern Recognition & Custom Screens