How to think like a CEO

We often bandy around phrases like "You are your the CEO of your business" and "It's important to start to think strategically about your business."

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But what does it actually mean to be a CEO? What is strategic thinking all about?

In simple terms, being a CEO is about delivering the best return on investment whilst making the best use of the assets available.

For the head of a large corporation that translates as generating great shareholder dividends, and the assets referred to are generally the staff of the business. But for a one person blogger, it more usually means earning the most money, with the sole real asset of the business being your time.

Time is your single greatest asset

Think about that for a moment.

Imagine a scenario here: You're running a small web design business, with three employees. One is a designer who you pay $50,000 a year to, another is trainee on $20,000 a year and the third is a cleaner and coffee maker who earns $15,000 a year. You're in the middle of a crucial project for a major client and you run out of coffee in the office. Who are you going to send to the store?

I don't even need to answer that, do I?

And yet how much time do you spend metaphorically running to the store? Idly reading other websites? "Engaging" on social media? Thinking up pithy blog comments? Checking the latest score at Wimbledon? Trying new plug ins?

If time is your single greatest asset, then make what time you have count.

Spend it wisely, spend it on the things that make you money, help you to achieve your goals and deliver great service to your customers.

Time is the worst kind of bank account. You never know your balance, and you can never pay more into it.

Strategy

Part of using that time wisely is to invest it in some strategic thinking. Schedule time each day to sit and think. How am I doing? Where am I headed? What if I changed this? How about if I did that?

Mull options, dream and wonder. But finish each session with a reaffirmation of where you're going. And keep that clear picture in your head - it's the only way you'll get there.

How much time do you invest in thinking about the future?