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Managing Time as CEO - YouTube
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this video was brought to you by monthly
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finally a way to keep track of your
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in one place get one free month by using
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the link in the description
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a few months ago we made a video on the
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responsibilities of a ceo and
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i realized now that i never really
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covered how i managed to get everything
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done in that video so to me the role of
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a ceo is mainly
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enabling your team enabling them to
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fulfill and to excel at their jobs
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however the company's situation often
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requires you to roll up your sleeves
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and lead projects yourself as our
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operation has grown my time has become
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more and more scarce
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and more and more precious i've come to
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a point where i choose what projects
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will truly need my involvement
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and i delegate others and do my best to
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stay out of them
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so in this video i'm gonna go over what
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a typical day looks like for me
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the evolution of my tasks as the company
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has grown
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the mistakes that i've made as a ceo and
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the tactics i use to make myself more
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efficient
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so let's do it
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[Music]
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the standard routine this is how a daily
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schedule looks like for me i wake up at
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5am almost every weekday
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6 to 7 30 i exercise usually playing
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tennis i start working at around 8 30
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a.m
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aiming to finish by 6 30 p.m or so i
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block out
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two hours for lunch which i don't spend
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in full but give me the flexibility
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to eat earlier or late depending on how
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hungry i am to hang out with my family
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or to work as a buffer time without
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meetings to catch up with work
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i try my best to be free between 6 30
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and 10 30 pm to hang out with family
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and if i'm done with work i'll watch a
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movie or play some video games between
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10 30 and midnight
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otherwise i use that time to wrap up the
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tasks of the day
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and it's a great time to work without
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any distractions
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in bed by midnight rinse and repeat
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weekends are
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most sacred to me i do my best to get
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all pending items out
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on friday and have been successful at it
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for the past few months make sure that
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you do that yourself weekends are
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precious
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now the biggest struggle for a ceo of a
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company my stage
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is calls and meetings most ceos spend
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time in discussions with the team or
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with potential
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partners but in my case that time also
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includes calls with our customers
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some of our slight bean plans include
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consulting calls with me which
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our users truly love and these calls
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give me a great insight on the product
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and our customers needs but of course
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they take a significant toll on my
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calendar i control that workload by only
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enabling calls to be booked on certain
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days every week
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and i keep at least two workdays where i
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only take a meeting
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if it's genuinely urgent i am strict
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about the meaning
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of urgent because otherwise you just
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can't get things done
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and for the ceo of a company our size
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the tasks that that ceo should be doing
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should have a significant impact
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on revenue or productivity for the
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company so you shouldn't delay those
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tasks by the way i
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never ever negotiate times for a meeting
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that's why we have calendly all right so
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now let's talk about the evolution of
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these tasks
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as the company has grown founding stage
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the founders and the first employees
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so for the tasks in this stage of the
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business lifecycle you'll do a bit of
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everything
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you'll get a crash course on accounting
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and bookkeeping and legal
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you'll learn to set up domains and
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emails and redirect your domains to
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different landing pages that you're
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testing you'll need to have the capacity
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to do this
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and to do it fast time is pressures at
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this stage of the company because you
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probably will be pre-product
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and therefore pre-revenue and every day
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you spend is a day of runway
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more importantly it's during this stage
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that you will learn the trade of your
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company you learn
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who your customers are and why they're
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complaining because you'll probably be
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handling
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those support tickets yourself you'll
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learn sales and marketing as you pitch
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your business
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and start getting the word out there and
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that is why the famous hacker hustler
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hipster combination
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is pretty important by the way check out
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our video on how to find a co-founder a
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hacker is a product person
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and they own that brand hipster leads
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the design defines an identity for the
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business and the brand
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and finally a hustler hustles investors
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customers evangelists
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beta testers press your job is to push
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your team to move
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define the goals and milestones and get
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everyone else excited about your product
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the mistakes so the biggest mistake i
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made during this time was probably
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working too hard
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i often had 14 hour work days which a
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younger kaya in his 20s could manage
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but definitely not sustained for long 14
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hour work days are unsustainable
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do not do it i got into some unnecessary
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arguments with my co-founders because
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they were
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only putting up 10 hours per day it just
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doesn't work
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what they knew and i didn't know was
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that after an
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80-hour week your brain just doesn't
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function properly anymore
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you need rest you need family time you
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need beer to keep your ideas flowing
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do not underestimate the value of
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leisure time
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some tips for this stage find out what
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the most urgent need
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is for the business and ensure that the
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team that has control over it has a
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clear path a clear runway to perform
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that task
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product was the most urgent thing in
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early stages getting a viable product
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into the market
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or completing that urgent feature
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request or fixing a nasty bug
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so my job then was making sure that we
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got that feature out
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as fast as humanly possible how by
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offloading tasks from the key person
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in charge of that task learn to delegate
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learn to trust your co-founders and to
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disconnect yourself from those tasks
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growth stage what are the tasks at this
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stage
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you'll still be doing a bit of
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everything but you'll soon find out that
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you can group specific tasks
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and put a name on them you can group all
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the support and help requests and put
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them under
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the customer support person umbrella or
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you can group your accounting and
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bookkeeping tasks and assign them
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to an office manager those will be your
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first hires the tasks that you can group
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and
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upload the great thing about this is you
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know how to do
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all these tasks you know how long it
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takes and
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therefore you know how long your team
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should be taking
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to accomplish them in my case the task
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that i could not
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find a way to delegate was the role of
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the cmo
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chief marketing officer we could afford
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some junior marketing people
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or junior paid media people but not a
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cmo
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we just couldn't afford one so i had to
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become one
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and that's the versatility that you need
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as ceo
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as the team scales you also need to
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create your first mental organizational
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chart
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who reports to who how do you assign
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teams for efficiency
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which of your hires have the potential
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to become managers
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and which are better off working on
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focused tasks now regarding mistakes we
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actually made a whole video about
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startup mistakes you should go and check
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that out
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but during the growth stage i should
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have used this time to put more
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structure
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into the things that i have to do every
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day the truth is your schedule will
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only get busier you'll soon start losing
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track of your business development
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conversations
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so you have to begin logging them and
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make that a habit
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i failed at that you should also
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leverage tools like zapier to automate
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some repetitive tasks you should become
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an email expert whether it's
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inbox zero or some other method pick
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your email tool now
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and stick with it own it and make it
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boost your productivity in the future
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again i failed to do all this stuff
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earlier on which probably cost me
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hundreds of productivity hours
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until i finally had some time to carve
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out and solve all of these things
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one of those was keeping track of my
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company's sas expenses
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if you're not careful you'll soon find a
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bunch of duplicate tools or orphan tools
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nobody's using
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i used to keep a spreadsheet which i
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updated manually and
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was of course a big waste of my time i
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just use monthly now and i tell everyone
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to just forward any invoice that they
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receive for their team
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monthly just keeps a dashboard that the
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accounting team can access later
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some other tips for the growth stage
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data at this point you will have more
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data than you can analyze on a regular
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basis
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and that's probably okay but make sure
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that you're keeping quality logs of all
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customer activity
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again you don't need to look at them
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every week or every month but when a
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question comes up like
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the age group with the most activity or
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how was retention affected after we
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released x feature
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you'll need to be able to go to that
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data and see it and measure it
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maturity now mandatory disclaimer we are
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not
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a mature company what i mean by maturity
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is we have reached a point in the
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business where we are
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profitable and we are not hiring
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aggressively so
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the ceo's tasks move from keeping up
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with that fast scale of the company to
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actually running it and making more
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strategic decisions
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at this stage you just don't have time
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to roll up your sleeves for almost
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any project your role is defining a
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project
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hand-picking the team that you believe
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can bring it to conclusion
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meeting with them once to get everybody
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on the same page and then
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getting yourself out your time at this
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stage is
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so tight that your involvement in a
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project might actually cause delays
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if your team is waiting for your
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approval to move forward
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things will move slower you must empower
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your managers
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and your trusted team to make decisions
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of their own to make mistakes even
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as long as the project moves along fast
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just to clarify
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what is this definition of project these
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are some of the projects that we're
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working on recently that i
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sort of led with a meeting and then left
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for the team
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we're building a new email onboarding
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and a drip campaign system so i assigned
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this
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to the customer success and the data
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analyst teams we are re-releasing our
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company forensics episodes as
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podcasts we are rethinking our brand
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presence in social media
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which requires assembling a new social
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media team we are figuring out a way to
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get our
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content on tick tock by the way and also
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hiring a new operations manager for our
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costa rica office who can take over
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most of my administrative tasks even
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with hires for example
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as involved as i would like to be in
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that process i really only have time to
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meet with the top three candidates
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i've learned to trust my team's judgment
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to do everything else
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and this can be even frustrating at
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times by the way sometimes you want to
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get your hands dirty with a project
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you want to do some design or figure out
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some ux mockups
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but you just can't you have to resist
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that urge and trust your team to do it
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now the only project where i've been
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able to dedicate some extra time is
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monthly
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and i'm excited about one of the tasks
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i've been doing is getting into
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conversations with other ceos
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about whether our problem statement was
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correct and it was we have a video with
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me pitching that business by the way if
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you want to look at the deck
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abandon sas tools that you pay for but
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nobody uses duplicate platforms
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manual spreadsheets to keep track of
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expenses a mismatch in the way tools are
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classified on the books
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it seems every company i talked to is
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struggling with this stuff and we
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believe that monthly is going to solve
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all of that
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we are now offering early access to our
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youtube viewers you can sign up for free
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at monthlyapp.com
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youtube as tight as my schedule is i
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will read your tweets about it so please
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take a look
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let me know what you think see you next
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[Music]
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week
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[Music]
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you
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