Leadership: when time is money

Published: 2012-01-16   There are 4 comments ... please add yours below

You can lead more successfully if you manage time well – for yourself and everyone around you
not failing to deliver or leaving things in a mess that undermines your performance and reputation

As Woody Allen famously said: 80% of success is showing up. Appearing on time, delivering as promised; doing what’s needed. For me, two standouts on the Allen test are my accountant and my gardener: both great at what they do and, above all, hassle free. They deliver. And, it’s been the same for 20 years in each case. Wouldn’t it be fabulous if the leaders of Germany, France and other euro countries could be as effective and efficient in dealing with their current problems. If only they would grasp the nettle: write off a swag of Greek debt, strengthen the European central bank and stability fund, stimulate their individual economies – and let everyone move on. Time is of the essence and soon it may be too late. For them (and the EU), time is truly money. For us as leaders, here are four guidelines to keep in mind.

  1. Understand what’s important to your clients – and followers. A leading law firm I consulted to wanted to be known for delivering the best work in town. However, client interviews indicated that in most cases no-one would know how good the work was – unless it was tested in court. But, timely delivery (meeting client deadlines) was often mission critical – and something they could judge! Lack of timeliness was costing that law firm work. So … are you costing the people you lead – or making their lives easier?
  2. Do things as soon as possible. As a consultant, I’ve learnt to start (and finish!) client jobs as soon as I can. Otherwise, I’d work slowly and, as Parkinson’s Law suggests, allow the assignment to fill the time available. And, if another client called, I wouldn’t be able to fit them in. Costing me big time! So … how fast do you get stuff back to your team?
  3. Keep everything tidy as you go. A friend used to throw all his receipts and financial papers in a drawer and sort them for his tax return at year end. That was always a horrible time: trying to remember what each receipt was for, finding others he’d mislaid and so on. In the end, he often gave the whole mess to his accountant, which cost him dearly – taking her lots of time to sort and understand it all. So … what’s that pile of documents on your floor?
  4. Give yourself time for a second look. When I revisit a report some period later, I always find things I could have expressed better. I’ve learnt therefore to allow a couple of days gap after finishing work, so I can return to check the thinking and expression with a fresh eye. I do the same with these weekly Potshots. They’re a giveaway item but in a big report, a better (and better communicated) set of conclusions and recommendations is value-adding for the client – and will build my reputation and hence my future earnings. So … how do you need to change your work patterns to deliver better – and earn more?

Finally, let’s return to the title of this Potshot “Leadership: when time is money.” In fact, one way or another, time is always money. Your failure to show up costs someone: the person, who has to pick up your task, search for a substitute, do it in a rush – or, worst of all, risk doing nothing. So … which are the four priority actions to lift your score on Woody Allen’s test?

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Dr. Timothy Pascoe AM
PhD (Cambridge), MBA (Harvard), BE & BEc (Adelaide)
Creator, V|E|C|T|O|R Leadership®



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Comments (4)

Timothy Pascoe - date: 2012/01/18 01:16 pm


Dear Kurt,

Wow! A long and detailed post. Thanks.

I like your abbreviation/acronym: 5W+H.

As you point out re AI, progress demands a higher and better workforce to provide the human input. I read something recently touching on this point in relation to current US unemployment. The author was arguing that many of the low-skilled may not find jobs again. It's not only an issue of what has gone to Asia but also how production has been made more sophisticated - requiring higher-level skills and more insightful thought processes from those, who are part of the process.

Many thanks,

Timothy

Kurt Rieger - date: 2012/01/18 11:41 am

All the things we need to think of are described. But there is more to it. Any list is only as good as we can measure the time it takes to attend to the list. Knowing the 5 minutes lost per employee per day for any reason is the key to business improvement as 100%+ overhead costs are no longer sustainable.
Artificial Intelligence (AI) has changed the way people communicate and AI 'demands' an equivalent change in organisational structures, procedures and above all a higher level of knowledge of all people using the system. But there is more people charged with the maintenance of AI system need higher skills and an auditable paper trail of why, what, when, where, whom and how 5W+H a change has been implemented. Band aid solution anywhere in any AI systems leads to a loss of that intangible value, the company reputation as a minimum loss.

The lack of communications standards adds to this complexity hence the measurement of time itself has become an issue (a people issue) for which leaders need to change their thinking in order to achieve that competitive advantage and long term sustainability they so desperately seek.

The supply chain delivers its part of the overall safety/performance obligations in the case of SCADA, DCS, Automation systems the OH&S guidelines are clear on what the overall obligations are, but standard cannot prescribe how organisations are to implement the obligations and the risk ratio is 80/20 in favour of the supply chain for any AI system. Irrespective of regulations the common sense approach is, to manage the consequences of an AI incident (with hacking and cyberspace malice now a reality) because the overall obligations are a responsibility of the owners, whom need a holistic approach to Corporate intelligence and knowledge management such that the goal of the competitive advantage expected from AI is achieved.

Case studies are too numerous to ignore the change process essential to better manage time.

Food for thought Wireless is the next challenge as already discussed in the media about phone hacking the same principles apply to AI systems- the internet is great stuff but requires a new way of thinking in AI security.


Timothy Pascoe - date: 2012/01/16 11:27 am


Thanks, Peter.

It's a key lesson. We all start out believing our technical training and hence our hard skills are the foundation of our career. And, in some senses they are. But, as you say, over time the soft stuff (being easy to deal with and hassle free)counts hugely - particularly when the client has the choice between two people with similar technical attributes.

Timothy

Peter Cook - date: 2012/01/16 11:22 am


I could not agree more Timothy. One of my musical collaborators is a session musician who has performed for Celine Dion, Anastasia, Shirley Bassey et al and his 'soft skills' (punctuality, having no 'baggage' - physical or otherwise, customer relationship skills etc.) are more important than his 'hard skills' i.e. musicianship in this case - although he is of course excellent in this area as a given. Peter


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