One of the key characteristics of a successful CEO is that they spend time thinking. Sounds obvious, but in todays world where key customers might demand immediate attention, key operational issues arise or employees demand your time it is easy to not create time for thinking.
Bill Gates used to take off twice a year on “think weeks”, during which he would spend 18-hour days in a cabin in the woods thinking about the future of Microsoft. Many of the company’s most significant decisions (the move to Windows, the pursuit of the internet “tidal wave”, etc) came immediately after a Gates think week.
For a CEO of a high growth business I would advocate you schedule time to think and plan at a minimum weekly with a focus on important, strategic matters. Make time to get away from the day-to-day distractions and focus on deep thinking, planning, and decision-making. Isolate yourself to concentrate on big-picture issues. Spend time alone digesting all the information you are bombarded with and develop the big ideas to take your business to the next level of performance. Then once a month, schedule a day away from the office to think and plan. With no distractions whatsoever, put on your CEO hat and spend time reviewing and improving your business.
If you need some great questions to stimulate your thinking and provide a framework during your weekly scheduled thinking time, try the following (complements from a client):
1. What can I do to create vs fight over demand?
2. What BUSINESS am I in vs what PRODUCT do I sell? What does my product or service “offer” the consumer (feelings)?
3. What are my underutilised assets or strengths?
4. What if my competition was not my benchmark? What can I do to make the competition irrelevant by creating a leap in value or experience for the consumer/buyer?
5. What are some unexpectedly good things that have happened and what can I do to “fertilise” those?
6. What are the business I admire or enjoy doing business with and what can I do to replicate this experience?
7. 7. What can I innovate to better meet mu ideal customer’s needs/wants?
8. What is the culture of my business? How does it need to change?
9. What are the opportunities I am seeing in the market and how can I begin to drive my business in that direction?
10. What needs to happen (specifically) for me and my business to be in the top 10% in my industry?
11. What are my leading indicators of growth?
12. Where is there a niche of “compromised” customers who are displeased with the industry standard?
13. Who are my best or core customers and what can I do to show my appreciation of them
