Leadership: when time is money
Published: 2012-01-16 There are 4 comments ... please add yours below
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.
- 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?
- 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?
- 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?
- 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®