Chris Hawkins, Founder & CEO of SignNow (signnow.com), discusses how a new CEO should spend his time. Spending the proper amount of time towards the right area of your business is important as it will increase work flow.
- Focus 30% of your time on recruiting
- Allot 30% of your time to improving your product
- Dedicate 20% of your time to expanding your network
- Use the remaining 20% of time on everything else
What you should be doing as an early stage CEO is really spending your time on the right things. And where I think that lands for most people is about 30% of your time on recruiting. That’s meeting people, networking with them, hitting up your network for candidates, if that’s doing work online, LinkedIn, what have you. Really dedicate a lot of time to that.
The second thing that you should do is spend a very good amount of time on your product, probably about 30%. If you don’t have a great product, your company is probably not going to go anywhere. So, you really can’t spend too much time on that.
I believe a lot in networking and that that pays dividends if you are capital raising, if you are – worked – well, going back to recruiting. Having a great network is going to pay off big time as a CEO. So, I would make sure that you spend enough time cultivating that, about 20%, maybe less but at least spend some time to it.
And then, finally, you know, that – those remaining 20% of your time should be spent on all the million other things that you should be doing. And I’d be willing to let things fall by the wayside if necessary to make sure you’d spend your time on the right things.