How To Manage Your Time Like a CEO

The transcript discusses a unique time management system called the "321 system," emphasizing the importance of managing attention rather than time. It outlines three roles: Maker, Marker, and Multiplier, each requiring different approaches as responsibilities grow. The system also introduces two zones, wartime and peacetime, dictating the necessary role transitions. A critical component is identifying the "one non-negotiable" task only you can perform, while delegating the rest to build trust, akin to the dynamic between Steve Jobs and Johnny Ive. The overarching theme is that effective time management is about stewarding time to focus on what truly matters.

• Managing time effectively involves more than following conventional productivity advice; it requires a system that rewires the brain to focus on what truly matters.
• Notable leaders like Jack Dorsey and Elon Musk exemplify how top performers manage their attention rather than just their time to achieve significant results without burnout.
• The focus should be on managing attention through a strategic system rather than just tactical time management methods like batching, prioritizing, and time blocking.

"Everyone has the same 160 hours per week, right? Why do the top performers get dramatically more done without burning out?"

• This quote emphasizes that everyone has the same amount of time, but top performers achieve more by managing their attention effectively.

"These CEOs don't manage time. They manage their attention."

• The key to high productivity is attention management, not just time management, as demonstrated by successful CEOs.

• The 321 system is a strategic approach to productivity that involves understanding and adapting to different roles as one's career progresses.
• The system consists of three roles: Maker, Marker, and Multiplier, each requiring different time management strategies.

"It's about applying what I call the 321 system. Here's how to do it. The first part of the system is the three roles."

• The 321 system is introduced as a method for effectively managing productivity by adapting to different roles.

• The Maker role is relevant for individuals juggling multiple priorities or working as individual contributors.
• In this role, individuals are responsible for completing tasks themselves, focusing on deep work, diligence, and delivering clear outputs within set timelines.

"First, maker. This is relevant when you're juggling a handful of priorities or if you're an individual contributor."

• The Maker role involves hands-on work and managing personal deliverables, suitable for individual contributors.

• As individuals progress in their careers, their roles and responsibilities evolve, necessitating changes in their time management strategies.
• The example of Taylor Swift illustrates how evolving roles require reinvented time management systems to maintain productivity.

"The time management system that worked for her early on would kill her productivity completely today because her game has changed and her role has changed."

• This quote highlights the need for adaptive time management strategies as roles and responsibilities evolve over time.

• Understanding the role one is currently playing is crucial for effective time management and productivity.
• Different roles require different approaches, and recognizing one's current role helps in applying the appropriate strategies.

"If you want to manage your time like the 1% elites, you have to understand the role you're playing right now."

• Recognizing and understanding one's current role is essential for applying effective time management strategies and achieving elite productivity levels.

• Transitioning from a maker to a marker involves managing multiple priorities simultaneously.
• As a marker, you are responsible for providing feedback and refining the work of your team.
• The focus is on building processes and delegating tasks, rather than doing everything yourself.
• It's crucial to identify which tasks are mission-critical and require your direct involvement.

"You are transitioning from the maker to the marker mode. Everybody else in your team will produce research, code, business plans, whatever they're working on, but you are the marker. You're the editor. You give feedback."

• This quote highlights the shift in responsibilities from creating to editing and providing feedback.

"You build processes that automate everything. You're doing and you're also delegating."

• Emphasizes the importance of creating automated processes and delegating effectively to manage responsibilities.

• The multiplier role involves managing a large team and numerous responsibilities.
• The focus shifts to recruiting, orchestrating, and aligning the team.
• The goal is to connect people, make strategic decisions, and manage team dynamics.
• It's essential to focus on the big picture rather than obsessing over details.

"Your job is not to create. Your job is not to review what other people create. Your job is to recruit, orchestrate, and align your team."

• This quote underscores the change in focus from creation and review to team management and alignment.

"You have to stop obsessing over every little detail and focus on the big picture."

• Highlights the importance of strategic thinking and big-picture focus in the multiplier role.

• Understanding the role you're playing is critical for effective time management.
• Mismanaging time by delegating as a maker or micromanaging as a multiplier leads to failure.
• Techniques for time management should be role-appropriate to avoid inefficiency.

"If you don't know what role you're playing, you'll manage your time the wrong way. Delegating when you're a maker and micromanaging when you're a multiplier are both recipes for failure."

• This quote emphasizes the necessity of role awareness for successful time management.

• Managing attention is also about understanding which zone you're in.
• The zone system involves knowing when to step back and allow others to perform their roles.
• Mismanagement of zones can lead to business stagnation or decline.

"The way you manage your attention is not just about the role you play. It's also about which zone you're in."

• Highlights the dual importance of role and zone awareness in managing attention and responsibilities.

• Brian Chesky's experience illustrates the potential pitfalls of adhering strictly to conventional time management advice.
• Initially, stepping back allowed Airbnb to grow, but eventually, it led to slowed growth and increased costs.
• This case exemplifies the need for flexibility and adaptation in management strategies.

"Airbnb's founder almost killed the company by following textbook time management advice. So from 2016 to 2020, Airbnb's founder Brian Chesky did what every business school, every business book, and every VC will tell you to do. Hire great people and get out of their way."

• Demonstrates how rigid adherence to conventional advice without adaptation can be detrimental.

• Leadership roles must adapt between "wartime" and "peacetime" scenarios in business.
• During crises, leaders need to become more hands-on and involved in critical decisions.
• The transition from crisis to stability allows leaders to step back and empower their teams.

"Chesy had to make a difficult decision. Step in, get his hands back on the wheel, and steer the ship through the icebergs."

• This quote illustrates the necessity for leaders to become actively involved during challenging times to guide the company through difficulties.

"He removed layers of leadership to make the company lean and flat. He got deeply involved in product, in every critical decision, every important detail."

• Demonstrates the strategy of simplifying organizational structure and increasing personal involvement in decision-making during a crisis.

• Direct involvement in product development can lead to significant improvements and company profitability.
• A focus on product enhancements can revive a struggling company.

"The company delivered over 500 product improvements in just 3 years. Airbnb went back to being a profitable company."

• Highlights the impact of focused product development on the financial recovery and success of a business.

• Business activities are divided into "wartime" and "peacetime" zones, affecting management roles and priorities.
• Recognizing the current zone is crucial for appropriate leadership actions.

"That's how the zones affect your time management and your priorities. There are two zones, wartime and peacetime."

• Emphasizes the importance of identifying the operational zone to manage time and priorities effectively.

"When you're building a startup or when you're in a tough market or swimming in the red ocean with sharks, it's wartime."

• Describes the conditions that define a "wartime" scenario, requiring aggressive and decisive leadership.

• Mastery of one's role and understanding of the operational zone is essential for effective leadership.
• Leaders must be dynamic and adapt their management style according to the zone.

"The key insight is that your zone dictates your role. Wartime zone can force you to move from a multiplier to a marker or from a marker to a maker."

• Explains how the operational zone influences the leader's role and responsibilities.

• Identifying and focusing on the one non-delegable task is crucial for effective leadership.
• Delegation is key, but leaders must personally handle tasks that align with the company's mission.

"What is the one thing that only I can do? That one thing I should focus on while I delegate everything else."

• Stresses the importance of leaders identifying their unique contribution that cannot be delegated.

"I focused on that one thing, relationships, on recruiting, on culture, on internal communication, on customer partnership."

• Highlights the focus on building relationships as a non-delegable task that supports the company's mission and growth.

• Establishing a consistent operational rhythm is vital for company execution and growth.
• Regular meetings and communication are necessary for maintaining alignment and progress.

"We had our weekly leadership meeting, product meetings, tech meetings, finance meetings. That's the operating rhythm of the company."

• Underlines the importance of structured meetings and communication in building an effective execution framework.

• Effective leadership is not about managing time but about managing trust. Trust management involves building relationships and fostering an environment where team members feel supported rather than controlled.
• The relationship between Steve Jobs and Johnny Ive at Apple serves as an exemplary model of trust management. Jobs was involved in the details not to control but to learn and support.
• Delegation should be based on the experience level of the team member: work alongside new members, guide those with some experience, and unblock experts.
• The consequences of mismanaging trust include new hires failing due to excessive freedom and experienced members quitting due to micromanagement.

"The best leaders don't manage time, they manage trust."

• This quote emphasizes the central theme that effective leadership transcends traditional time management, focusing instead on cultivating trust within teams.

"Steve Jobs was there as a partner, not as a boss. He was in the details to learn everything, not to control everything."

• This illustrates how Jobs approached leadership by being deeply involved to understand and support, not to exert control, fostering a collaborative environment.

"If new hires get too much freedom, they will fail. And if experienced people get micromanaged, they will quit."

• This highlights the importance of tailoring leadership approaches based on individual team members' experience levels to maintain trust and effectiveness.

• Effective delegation involves understanding the role, zone, and non-negotiable tasks, allowing leaders to allocate responsibilities without losing control.
• The "321 system" outlines three roles, two zones, and one non-negotiable to help leaders focus on core responsibilities.
• Delegation should also involve coaching, providing context, and stepping in to unblock team members when necessary.

"How do you actually delegate everything else without it all falling apart?"

• This question addresses the core challenge of delegation, which is maintaining control and efficiency while empowering team members.

"You review things but to coach. You connect but to provide context. You step in but to unblock others."

• This underscores the supportive role of a leader in delegation, emphasizing coaching, context, and problem-solving as key elements.

• Personal time management involves stewarding time to focus on what brings joy and happiness, recognizing that time is finite.
• Leaders and individuals should define their roles, identify their zones, and establish non-negotiable tasks to prioritize effectively.
• The ultimate goal of time management is to create space for personal fulfillment and meaningful activities.

"You cannot control time. You can only steward the time you have."

• This statement encapsulates the philosophy of time management, highlighting the importance of prioritization and intentionality in using time wisely.

"Good time management helps you make time for what matters to you personally, things that bring you joy and happiness."

• This emphasizes the personal aspect of time management, focusing on aligning time use with personal values and sources of happiness.