In October 2017, HBR published a study by the London School of Economics about how CEOs spend their time. It was yet another attempt to answer the question: “What are the best habits of high-performing CEOs?” While I question the methodology used to compile the data, there are three findings with which I agree (paraphrased):
- CEOs have little quality “thinking time.” The survey suggests that it’s as little as six hours per week. Of the seven CEOs I currently coach, all report that “thinking time” is hard to schedule. My guess is that senior leaders would report that they have even less thinking time.
- CEOs who participated in the study were surprised to learn that how they spend their time is not always aligned with their biggest priorities. This is a significant challenge for all senior leaders—there is always more to do than there is time to do it.
- CEOs who lead perform at higher levels than those who manage. This means that CEOs who truly elevate their role and stay out of management are more productive and have higher-performing companies. To lead, you have to spend time thinking about the business. This is the “deep work” that differentiates all high performers.
Finding the time to work on what matters most is a common challenge for all senior leaders. As the study suggests, the 24/7 demands of a senior executive role, an excess of meetings, and the “tyranny of the urgent” often leave little time for strategic thinking about how to have the most impact in your role.
I tell my clients that you don’t have to go into the woods or up to the mountaintop to spend time working “on your business” instead of “in your business.” You can do it at home or at your local coffee shop or spa. What matters is that you do it.
So where do you go to get clarity, to let ideas percolate? I think you have two options. The first is to develop a set of key habits. The second option requires a bigger investment and it provides a bigger payback.
OPTION 1: You can increase your thinking time with a few key habits (pick one to experiment with):
- Do some reflecting early in the morning. Journal about what’s important. The morning is when you are freshest and it’s a good time to reflect on how you are allocating your time to the biggest priorities.
- When you travel—when you commute to the office or when you fly—put away your laptop and do some journaling.
- Go for a walk. The very act of going outside can cause a type of reframing; it’s where we often connect to a bigger and different perspective.
- Go to a coffee shop, put on some chillout or lounge music (without words), and write down your reflections.
OPTION 2: There are times when it’s appropriate to take a timeout and go to the mountain. I recommend to my clients that they spend a full day, at the beginning of the year, planning for their success. Of course, you can do it at any time, but at a minimum, you should invest the time at the beginning of the year.
Here are the main benefits of making a personal retreat:
- Take stock to create insight. A retreat provides opportunity for self-reflection—and it’s not enough to spend time in self-reflection. Your goal should be to seek and create insight from that reflection about what’s working for you and what you need to change. If you do your retreat close to year-end, it’s a great opportunity to reflect on the previous year and conduct a personal SWOT.
- Develop new perspective. When you change your surroundings and leave your usual environment, you will be surprised at how you can generate a new perspective and new ideas about your work. Until recent times and in most cultures, elders took younger people out into nature to teach them wisdom. Time in the natural environment with a skilled facilitator/coach often creates a broader perspective that transcends day-to-day framing of issues. It is fertile ground for imagining new ways of leading, living, and generating new direction for your company/division.
- Gain clarity about your goals. It’s fine to take time away from work to reflect, develop fresh perspective, and gain insight. However, this has to be matched with a goal-setting exercise that allows you to translate your insight, perspective, and reflection into actionable goals. When I lead this kind of retreat, I guide clients to develop:
- No more than 3 personal goals/priorities
- No more than 5 business goals/priorities
Ideally, you should format your goals as SMART goals that “reverse-engineer” what you want to accomplish into habits and specific actions. You might also consider making a personal vision board to remind yourself of your priorities and commitments. This is the one exercise my clients find both awkward and compelling.
- I encourage my clients to include some restoration time in their retreat. That can take a variety of forms. Some of my clients like to hike, others like to take in some yoga classes or visit the spa. You can bring your partner/spouse with you and use the time to have a break together. In my experience, leaders get very energized by this process. Self-care, nurturing yourself, and taking time out are critical to making any senior executive role sustainable. Your brain really does need a break if you are to create some fresh thinking.
Above all, your personal retreat should energize you and give you clarity about what you want to accomplish as a leader. It’s an opportunity to turn your aspirations and rumination into plans to drive your success. What happens afterward is critical to delivering value for your investment in this time away. I recommend two specific actions:
- Share your goals with your team and your spouse—this creates accountability.
- Work with your coach to help you accomplish elements that might be difficult to achieve on your own.
Now, in case you think this is “goofing off” time, let me assure you that you’ll be both exhausted and energized by the experience. Consider it an investment in your success.
I conduct retreats from the following locations:
4435 N. 29th Pl., Phoenix AZ 85016
260 Diamond Way, Vernon, BC V1H)A2
Sonoma, Carrick-on-Shannon, Co. Leitrim