Vincent (Don Vinni) Emokpaire. CEO of Octoplus Marketing Group. Founder & CEO of WRDL Global.
Time management is an important skill for everyone, but for CEOs juggling multiple ventures, it can become an absolute necessity. This need can be greatly amplified when your responsibilities span across different countries and industries. As someone who manages several companies across marketing, advertising, commercial, route to market and distribution sectors in multiple countries, I have experienced how important it is to understand the complexities involved in having an effective time management strategy.
Running businesses across several geographical locations comes with unique hurdles. Every market has its own dynamics, and each country has its own regulatory environment and cultural and legal nuances. When your portfolio expands to include multiple ventures across countries and continents, the complexity multiplies. This type of expansion plan requires meticulous planning, strong structures and, perhaps most importantly, time management. Here, I will share some insights and strategies that can help other CEOs navigate this demanding landscape without succumbing to mental and physical burnout.
Effective Time Management Strategies
You need to know your limits. Recognize when to stop or hold back from certain activities. As much as it is important to oversee your ventures and engage in self- advancement endeavors, taking on too much can lead to burnout. Always make sure to balance your ambition with sustainability and moderation. It is also important to maintain a balanced life beyond the business realm; stay true to your personal development and family or relationship commitments.
Surround yourself with competent personnel who see your vision and can replicate your efforts to make it a reality. Identify areas of the business where you need hands or minds, and recruit top talent to fill those gaps. Doing this can allow you to multiply your impact without overextending yourself.
Remember that in order for this step to be effective, you need to trust your team with responsibilities. Delegation helps lighten your load and can foster an ownership and accountability mentality within the team. When your team’s dedication and loyalty match yours, it can help drive the business forward even in challenging times.
Pro Tip: Note that “top talent” can go beyond the usual educational and professional qualifications to include other factors that you have observed work well with your business and leadership style. Ultimately, seek to build a team of loyal and hardworking personnel.
Begin with manageable projects; you can always scale up as your capacity and resources expand. This scalable growth approach can help to minimize risk while facilitating a sustainable expansion.
Know your ventures. As a founder or business leader, you should have a thorough understanding of the businesses you are involved or plan to get involved in. Stay in the know and actively watch for changes in the industry. Consider engaging in growth courses and staying updated with global trends. These measures can help make you a well-rounded and intellectually sound leader in your conversations, your outlook, and how you run your team.
When you learn what works for your business, study those winning strategies and apply them consistently throughout your business. Invest in regular training for yourself and your team. Having a well-trained team that is always abreast of advancements and industry trends is often necessary to keeping a business competitive.
Put flexible structures in place. Flexibility in your structure enables quick responses to changing circumstances, which are bound to occur. Also remember that your business’s structure depends largely on the people you have on the ground, so ensure these team members have the training and knowledge necessary to adapt quickly and alert the rest of the team to unexpected events.
Take time daily to work with each unit and team. I have found that it is always best to have hands-on experience in your business. Challenging ourselves as leaders is important to finding better and long-lasting solutions to any challenge.
Observe, meditate and reflect on your business activities. This can not only help you understand your business and team better but also help in promptly identifying areas that need improvement and strategic planning.
Maintain a well-organized calendar and routine. Effective scheduling assists with time allocation and helps ensure that nothing is left behind. I also recommend having a capable executive assistant and/or personal assistant. They can help you greatly with time management; handle routine, administrative, and other delegable tasks; and free up your time for strategic thinking and more hands-on management.
Establish policies for the business along with clear enforcement mechanisms. Structured businesses with clear policies have a better shot at operating efficiently and withstanding challenges.
Conclusion
Effective time management for entrepreneurs and leaders with single or multiple ventures requires a blend of personal well-being, strategic planning, effective delegation and continuous learning. By pacing yourself, replicating your impact, building a trusted team and maintaining flexibility in structure, you can be better equipped to navigate the increasing complexities of serial and multinational entrepreneurship while achieving sustainable growth. Remember, the key is not simply to manage your time but to optimize it fully for maximum impact and balance in your ventures.
Via Forbes Business Council Recognized as the foremost growth and networking organization for business owners and leaders.