By John Murphy
Do you know how to prioritize? I mean really know not just intellectually, but in reality!
My belief is that most of us rank somewhere between alright and pretty poor when it comes down to prioritizing.
It falls somewhere between crisis management and those things I like to do!! Not the most scientific criteria!
I have had the pleasure of working with some top CEOs and they are really good at prioritizing. This is how they do it
They challenge themselves with these 5 questions:
1. Is this on my dashboard of 5/6 key drivers of the business?
2. Will I add value to this task?
3. Am I the one who should be dealing with it?
4. Should I be dealing with this right now?
5. Do I have all the information I need to deal with it?
If they get a No to any of those questions it does not get to their priority list.
Allow me to delve a bit deeper:
Dashboard of 5/6 key drivers. I first heard this from Warren Buffet who maintains that there are ever only 5/6 key items that must be monitored at all times. These are the 5/6 items that matter most. Great CEOs focus on what matters most – they are really good at this. They cannot focus on everything they just focus on what matters and what delivers results.
Will I add value? If it is not clear where they, and only they, can add value, they will not get involved.
Am I the one to deal with it? Top CEOs are really good at identifying whether they are the right person to deal with an issue, or is it somebody elses job? The old saying of dont buy a dog and bark yourself comes to mind!
Is this the right time to do it? In other words, am I doing this to fulfill my own agenda or someone else’s? Is it the most important thing for me to do in this minute? Is there anything more important I should be doing right now? Top performers are really good at answering that question
Have I got all the information I need? There is nothing more frustrating than starting something and then realizing that you dont have all the information you need to complete. Make sure that you have the right amount of information or input to complete what you start it’s a good example to your people, if nothing else.
Top CEOs are really good at this process. They know how to prioritize their work and, by definition, the work of their team tends to be well prioritized also. It is no coincidence!
One of the main challenges I have found when working with clients is to get them to identify the 5 or 6 key drivers. When you first go through this process you will always end up with a much longer list. But there are not 10 or 15 key drivers!
I will not argue with Warren Buffet his track record is unquestionable! So, be tough with yourself and get to 5 or 6 it will be worth it to you, and your business.