002 Four Areas Successful CEOs Invest Time In

002 Four Areas Successful CEOs Invest Time In

Welcome to the Bottom Line Top Line Podcast with Carol Bartlett, Jol Hunter, and Chris Spurvey.


In the first five episodes of this show, we take a deep dive into a manifesto that Jol Hunter wrote a number of years ago about his 500 or so visits with leaders of organizations throughout Atlantic Canada, the rest of Canada, and parts of the United States.

In that manifesto, Jol Hunter describes the four factors that cause that gap between businesses’ current performance and potential performance: CEO time, process discipline, relationships as the source of all revenue, and members of the senior leadership team being on the same page.

To download the document, scroll to the bottom of these show notes and fill in the form.

Today we talk in detail about the first point – the importance of CEO time and the four areas successful CEOs invest their time in.

We also discuss these topics:

  • CEO personality types
  • CEO as salesperson
  • what makes a successful CEO
  • Is humility important for a CEO?

You’ll gain a lot of value from listening closely to the show while following along with these notes.

If you have feedback on the show, by all means reach out to any of us. Enjoy!

If you have feedback on the show, by all means, reach out to any of us. Enjoy!

What Makes a Successful CEO

There are certain characteristics that make successful CEOs. Certainly, the ones that build a good team around them and depend upon that team—and how they do that—is one of the most effective things that they can do.

We always say, ‘Hire people that are smarter than you.’ Not everybody does that. Not everybody’s comfortable in doing it.

I find the quickness of CEOs in their execution is very telling.

If you sit with business owners and you are able to articulate a savings of however much per year if they just modify this one process according to corporate performance and best practices, and they’re like, ‘Well, we’ll think about it,’. . . A very successful CEO won’t. That will be executed in the afternoon.

The characteristics of timing, who they [the CEOs] put around them, and the gratitude that they exhibit are very telling. When you walk into a room, you know who you’re dealing with.

CEO Time

The most successful CEOs tend to invest their time in four areas. However, not all of their time will necessarily be characterized as CEO time. A CEO may have multiple hats that they’re wearing, but some portion of their time—and, in larger organizations, perhaps 100% of their time—could be described as CEO time.

He may be the VP of Production as well, so he’ll be doing some time in production. However, successful CEOs also have some very dedicated CEO time, be it part-time or full-time. Inside that, they seem to invest their time in four distinct areas in order to ensure the success of the organization.

Four Areas Successful CEOs Invest Time In

1. Ensuring that the business is ready for tomorrow. This involves two aspects:

  • Looking out the front window, deliberately, to seewhat’s coming
  • Doing what needs to be done to be ready for what’s coming

CEOs must gauge the market, stay on top of trends in the industry, connect with other business leaders, and ensure that their organizations are doing what needs to be done to prepare for the future.

2. Guarding the business’s values. An organization’s values are the agreed behaviors by its member which creates the organization’s reputation.

A CEO is the guardian of the organization’s reputation. He or she needs to understand how employees, customers, and members of the community experience the organization, review whether those experiences are aligned with the organization’s values, and then make adjustments accordingly.

Mentions

Connect with Carol, Jol and Chris on LinkedIn.

001 Four Factors That Cause the Gap Between Actual and Potential Performance

Episode 001 - Four Factors
001 Four Factors That Cause the Gap Between Actual and Potential Performance

Welcome to the Bottom Line Top Line Podcast with Carol Bartlett, Jol Hunter, and Chris Spurvey.


Carol Bartlett is a senior level executive with broad experience in Oil and Gas and Transportation industries managing $200M+ annually in sales. 

Using a combination of proven techniques, Ms. Bartlett focuses on growth results. She bridges theoretical business principles and philosophies to strategic actions that give profitable results. Deploying integrated proven strategies, she adds value to companies looking for sales growth and increase in profits.

Jol Hunter has spent a lot of portion of time as a partner with the national firm of chartered accountants and business advisors. In the last few years, he has been a business owner of a fairly substantial Atlantic Canadian business with three other gentlemen, and is currently experiencing the joys and challenges of ownership and operation of a medium-sized business.

Chris Spurvey spearheaded the growth of Plato Consulting to the point it was acquired by one of the largest management consulting firms in the world (KPMG). In the process, he sold over $300 million in consulting services.

Following the acquisition, Chris turned his focus to helping other “non-sales sellers” find a way to grow their revenue in a consistent, stress-free manner. He published It’s Time to Sell: Cultivating the Sales Mindset, founded Make Sales a Habit University and today is a growth advisor to business owners and their management teams throughout the world.


The Manifesto

In the first five episodes of the show, we deep dived into a manifesto that Jol Hunter had written a number of years back, following his 500 or so visits with leaderships of organizations throughout Atlantic Canada, the rest of Canada and some in the United States.

In the manifesto, he talked about the four factors/themes that cause that gap between current and potential performance in businesses.

In this episode we gave an overview of the manifesto that you can download when you scroll down to the bottom of the show notes. And in the next episodes we talk about each point in detail.

There’s a lot of value to gain a from listening and listening closely, and also following along the document. You’ll find some excerpts from the show below.

If you have feedback on the show, by all means, reach out to any of us. Enjoy!

Growing Business Manifesto

So over a period of 4 years I had the immense privilege of visiting approximately 600 businesses across Canada. A little while into that journey I clued into the fabulous privilege that was and in most cases included very intimate conversations with the owners of those businesses.

After a little while I started to pay more attention to the themes that were coming out of those conversations.

I essentially came to the conclusion that, collectively, we are not performing to our potential. To put more positively, there’s a bunch more upside potential in our businesses, and the gap between our current performance and potential performance was essentially wrapped up in four themes/areas that perhaps if there was more attention paid to them, that gap would close.

Digging into the findings

Let’s think in terms of four creators of a gap between actual performance and potential performance.

Of course, not all of these exist everywhere. And this isn’t the only potential four gaps, but it’s four creators of the gap that seem to recur, and therefore perhaps it’s helpful for folks to be thinking about them.

So number one is all wrapped up in how the CEO invests his or her time in the business.

It’s my belief that the single biggest determinant of how a business or an organization will perform rests around the behavior of the CEO, the nature of investments the CEO makes with his or her time, and the shadow culture created by the behavior and attitude of that CEO.

So it really behooves the CEO to be thinking in terms of what is the best use of my time, how do I apply it? What’s the culture I want to create through that time? And really thinking about that strategically.

There’s a couple of offshoots to that. One is, in small businesses a person may not be a full-time CEO. They may be a CEO and also a production manager, or a CEO and something else. However, a portion of their time is CEO time and that CEO time needs to be thought through very strategically.

The second thing that flows out of it is many CEOs have not really thought it through and they’ve just been tossed hither and yon by whatever comes along, versus thinking deliberately about being in control of it – both the nature of the time and the culture they create through how they interact through various things.

That was the first gap creator that rose to the surface through these conversations.

Averages of how we spend time

We are the average of what we spend time on as an accumulation of every day, that wraps up into a week, that wraps up into a month, that wraps up into a year.

It’s everything from what we eat, how we exercise, how we learn and who we interact with.

If we can average up the quality of that time then we lift the whole organization with us.

I think that can be done very simply by doing one thing at a time. I don’t even think that it has to be a dramatic change. I’ve just been experimenting in my own life by just adding one extra thing and the compounding effect of that is just amazing.

When you look at the averages of that coming out, I think it would be phenomenal to implement that throughout an organization. It would really be phenomenal if we implement that in the organization.

Looking at organizational performance you would want to take it as a whole but if you’re just looking at just one thing and incrementally effecting that everyday then you would have huge effect over the year. People will notice that there’s something different about the organization and that will start to have a compound effect on their time and performance.

Mentions

Connect with Carol, Jol and Chris on LinkedIn.

The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller