What I do all day
This week’s Economist includes an article examining what CEOs do all day. “What do bosses do all day?
The shocking truth can at last be revealed” Amongs the various interesting findings, the article reported that “bosses spend only 3-4% of their day thinking about long-term strategy”.
To be fair to the bosses studied, they probably run well-established businesses. Things are working well, and their priority is to keep your customers happy and keep the revenues rolling in. There is no obvious/imminent need to think about the future for hours every day. As a result, I am not shocked by any of the findings. Moreover, the HBR study’s author, Mr Chandy, “thinks bosses should spend less time with clients and more time thinking about the future”. I would argue that spending time with your customers helps inform future strategy better than almost any other activity, and it is time very well spent indeed.
Still, it was a thought-provoking article if only that it made me stop and think about how I spend my time. I am happy to report that a good 20% of my day is devoted to thinking about future strategy. My guess is that any startup CEO would report similar numbers, probably much higher the younger the startup. The day this number falls below 5% I’ll consider my job at Savvica as done.