CEO And Founder Of Moniepoint, Tosin Eniolorunda Speaks On A CEO’s Guide To Effective Time Management

CEO and founder of Moniepoint, Tosin Eniolorunda has shared insights on a CEOs guide to effective time management on his LinkedIn platform and he agrees that time is the currency of life.

Read his post below as shared on LinkedIn:

A CEO’s Guide To Effective Time Management

In the 90s, Afro-pop musician, Mike Okri gave us a banger anthem (some will claim that it was an advisory) which became a classic – Time na Money, reminding us to create value, and remember to use our time wisely because time is the currency of life. Therefore, as we dive headlong into the new year’s grind, the subject of time and how to effectively manage it, it takes on a heightened and critical importance.  

At its core, time management is not merely a logistical exercise, but a strategic mindset. It is the conscious and deliberate allocation of one’s most precious (maybe even scarce because it’s never enough) resource – time. 

As a CEO, your days are likely filled with a pile of responsibilities – from crafting and shaping the company’s vision to executing crucial management decisions, time plays a pivotal role in assigning tasks and achieving goals. As the captain of the ship, your ability to navigate turbulent waters and undulating terrains will be a direct function of how you efficiently manage your time. 

The stark reality of the marketplace today is one where change is constant and challenges are multifaceted, effective time management is a tool for success. Let’s dissect key principles that underpin successful time management and share insights into practicalities that can guide executive decision makers.  

The Value of Time for CEOs

Time as an asset is an invaluable resource but then it’s finite, meaning that you get 24 hours every day to make magic happen. As execs, every moment carries significance, shaping the trajectory of the company and influencing its success. But then the demands on our time are monumental, recognizing time as a finite resource is the first step towards mastering its management. 

Every decision, meeting, and strategic move requires a slice of this limited asset. Acknowledging this scarcity underscores the importance of employing deliberate and efficient time management strategies. 

CEOs who understand the irreplaceable nature of time are better equipped to make strategic choices, allocate resources judiciously, and guide their organizations through a complex and dynamic landscape in 2024. 

Effective Time Management Strategies for CEOs

While it may seem like 24 hours isn’t enough for you as a CEO, some effective strategies to manage your time well are: 

Prioritization

Get your priorities straight and right. Prioritization involves discerning between tasks based on their importance and urgency. What are you looking to do and achieve in the short and long term? Once you understand clearly what the priority is then you can optimize the allocation of time and resources.

The Eisenhower Matrix is a time-honored tool that categorizes tasks into four quadrants based on their urgency and importance. This matrix empowers CEOs to prioritize tasks systematically.

The Eisenhower Matrix

Quadrant I (Urgent and Important): Immediate attention is required. 

Quadrant II (Not Urgent but Important): Strategic planning and high-value activities fall here. 

Quadrant III (Urgent but Not Important): Delegate these tasks whenever possible. 

Quadrant IV (Not Urgent and Not Important): Minimize or eliminate these tasks. 

As a CEO, you must discern tasks that contribute most significantly to the overarching goals of the organization

1 Goal setting

Goal Setting is the compass that guides our lives through the complexities of decision-making and resource allocation. It involves setting clear objectives that align with the organization’s mission and vision. 
CEOs can leverage the principle of SMART goals to bring clarity to their vision and enhance the efficacy of their decision-making. Specific, Measurable, Achievable, Relevant, and Time-bound – SMART. 

There should be a balance between long-term strategic vision and short-term operational objectives. Long-term goals provide direction, while short-term goals create a roadmap to achieve incremental success. In setting goals, don’t forget to assign a time frame. 

Planning and Scheduling 

The discipline that planning and scheduling brings to create structure, order and governance in our everyday life is one that we must wholeheartedly embrace. No short cuts or half measures.  It would be helpful to map out your days, weeks, and months in advance. Daily plans ensure a focused approach to immediate, weekly plans foster continuity, and monthly plans align with broader strategic objectives. 

Time blocking also helps with planning and scheduling. It involves allocating specific blocks of time to dedicated tasks. By segmenting the day into focused periods for particular activities, CEOs can minimize distractions and enhance productivity

Leveraging Technology 

Today we are surrounded by a plethora of digital productivity tools and applications to enhance our efficiency. You’d be doing yourself a disservice by not investing in technologies that streamline communication, automate routine tasks, and provide actionable insights for decision making. 

Interestingly some time management tools can help you track time, save time, manage your time and help you develop healthy habits that will ensure all around productivity. These include project management applications, calendar apps, task management tools, and communication and collaboration platforms. They are your greatest ally in effective time management, so get with the program. 

Mindful Meetings 

Understandably, meetings can take up a significant and maybe for some (inordinate) amount of a CEOs time. Which is why one must adopt a mindful approach to meetings. 

You can do this by setting clear agendas, establishing time limits, and ensuring active participation. Evaluate the necessity of each meeting and explore alternative communication channels, such as concise emails or virtual updates, to maximize efficiency. 

Some quirks – don’t forget to have leisure time and look after your health. All work and no leisure makes Jack an unbalanced founder. Don’t be afraid to ring in the changes and importantly, when necessary, learn to say NO especially to activities that are not aligned with your set goals and objectives. A simple hack can also be found in delegating to the right person.  

So, as we move into the full swing of 2024, it is important to note that time management strategies can transform the way leaders navigate the relentless demands of their roles. We can all embrace time management not as a constraint, but as a catalyst for unlocking your full leadership potential. 

Cheers to your wins.

Source: Tosin Eniolorunda | LinkedIn

Email: elora.akpotosevbe@yahoo.com