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Episode 119: CEO Action

What Happens After You Free Up Your Time?

After working with my clients, there always comes a time when I get asked, “So, what am I supposed to do now?”.  This happens after they’ve streamlined their business and team and it often leaves them feeling confused about what to spend their time on.

As a CEO, there are two buckets you should be spending your time on that you may be ignoring completely right now.

 

In This Episode You’ll Learn:

  • What CEO Action is and why many business owners avoid it
  • 2 categories to spend your time on as a CEO
  • 5 core CEO responsibilities
  • The benefits of CEO Action

 

Featured on the Show:

Episode 73

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Welcome to Scale to Seven®! Your behind-the-scenes look at what it really takes to scale your business to seven figures. I'm your host Kathryn Binkley, business and leadership coach for online entrepreneurs. Here's what I know, building a business that will generate millions requires the mindset, strategy, and action of a future seven-figure CEO, starting now. Ready to Scale to Seven®? Let's go! 

I talk a lot about freeing up your time. And that's because it's something that I hear business owners really want. And if you're here, I'm guessing you want to scale your business, while freeing up your time as well. But what happens after you do? That's a question that I get from my clients all the time. And I always know it's coming. And I always look forward to it because I love hearing it. It's one of my favorite things. My clients say to me, there always comes a point where they ask. So what am I supposed to do now, this always comes after they freed up more time than they first expected. They never imagined that they face this dilemma of what to do with their time because they were so used to being busy and overworked. Some of them were even in patterns of burnout. And so it's a big shift from where they were. And I always have two buckets that I share with them about how to spend their time and their two buckets that I recommend. And so I want to share those with you today as well. But before I do, I need to tell you this, CEO action is different. It's going to feel different, it doesn't always feel productive. It doesn't always feel like work. And you might even feel bad that this is all quote unquote, you're doing. But these are the most important things you could possibly spend your time on. And you've likely largely ignored them before now only focusing on them when forced to or diminishing the importance because some of these may come more naturally to you. And they just don't seem like a big deal. They are just what you're great at. And maybe some just seem selfish. And like this isn't what you should be spending your time on. But they are, these are the things you should be spending your time on. So with that in mind, here is what CEO action looks like. First, this is the absolute first bucket that I recommend. And that is really looking at the responsibilities of CEO. Now, CEO, the role of CEO is a full time job in and of itself. It has five core responsibilities. And then from there, you can really tweak it to make it into the role that you want it to be. Now I go over these five core responsibilities in more depth in Episode 73. But as a quick overview, CEOs should focus on these five things. Vision, because it's your job to really set the direction for where the business is headed. To cast that vision and paint a picture of what that looks like. You don't have to be in charge of the how, you don't have to figure any of that out, you just have to show your team where you're going. And that means you have to get clear first on where you're going. Next is team leadership. And this is really all about leading and inspiring your team, motivating your team is really learning how to lead the thinking guide your team coach your team, this isn't about management, you'll have others on your team who can handle managing the team holding them accountable to certain deadlines or getting projects done things like that. This is the bigger picture. Really talking with your team about values and who you are as a company as a team and where you're going. So again, bringing that vision piece in, but then showing them what it's going to take to get there. Really focusing on culture and building connection. Then you've got thought leadership. And this is all about showing up not just in sight of your business and not just in your own marketing and sales, but really showing up to create new compelling ideas that maybe you're using with your clients and maybe you're using in your marketing but bigger than that you're using to change the industry. It's about so much more than you and your business and you realize that at this level, and you're starting to focus on how you can make a greater impact, then you've got relationship building. And this is all about, again, turning your focus externally. And instead of giving all of your time and attention to your business itself, you're beginning to build relationships, relationships that are mutually beneficial. And then you've got strategic decision making. This is all about the highest level decisions in the business. And again, pointing your team in the right direction, making those final calls, making sure their decisions are aligned with the direction that you want to go in the values that you've communicated. And teaching them how to make decisions. So you can remove yourself from that as well. So that's really that first bucket, CEO responsibilities. And again, that's a full time job. So while you've been busy doing other things, and eventually delegated it all and freed up your time, you've been ignoring some of these responsibilities, maybe not completely. But there is room for you to grow in these five responsibilities. I am certain that that is true. And so focus on where your business needs your time and attention in each of these five areas. The second bucket is all about fun. It's about resting, really taking time off, it's about creativity, putting yourself in an environment where you feel creative, and feel inspired, getting yourself out into the world, creating adventures and new experiences, learning and developing, maybe things that are completely unrelated to your business, maybe things that aren't related to the business, but making sure that you are really focused on your personal growth, so that you don't hold back your business's growth. Also just enjoying the life that you've built. Once you've freed up your time, it frees you up to do the things that you wanted to do when you started your business in the first place, taking up hobbies, spending more time with loved ones, setting personal goals, volunteering, all of those kinds of things, you get to go have some fun. And like I said, These things may seem a little selfish, but it's exactly what your business needs you to do. You and your business will benefit from you taking CEO action, because your business will benefit from the longer term thinking increased innovation, your team will be more inspired, your team will work more independently, it will open the door to new opportunities, you'll have more of an hour to focus that makes that greater impact and changes the industry. You're gonna limit rework and wasted resources by having clear strategic decisions and making sure everyone is aligned with that. You and your team will have more fun, there will be less pressure and force and that's just to name a few things, but there's plenty more benefits, and some that will be completely unique to you. So if you are ready for more CEO action, I want you to start thinking about where you want to be spending your time, both in business and life. And just start small, make one small commitment, put it on your calendar and go follow through on it.

Hey, if you're ready to Scale to Seven®, I want to invite you to join the Scale to Seven® Mastermind. It's my coaching program designed to turn your online business into a self-sustaining scalable business that can generate millions. Just head over to kathrynbinkley.com/scale-to-seven. We'll see you inside!

 

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