New and aspiring CFOs need robust time management techniques to stay ahead, particularly within start-ups and scale-ups where you can easily spend your whole time fire-fighting.

One powerful tool for managing time effectively is the Eisenhower Matrix, a decision-making framework that helps prioritise tasks based on urgency and importance.

What is the Eisenhower Matrix?

The Eisenhower Matrix, named after former U.S. President Dwight D. Eisenhower, divides tasks into four quadrants:

1. Urgent and Important: Tasks that need immediate attention. These are the crises and pressing problems that must be handled right away.  The fire-fighting tasks that can't be ignored.
2. Important but Not Urgent: Strategic tasks that contribute to long-term goals but don’t need to be done immediately. This is where leaders should focus most of their time.  Ignoring these will hurt both you (your career) and the business longer term.
3. Urgent but Not Important: Tasks that are pressing but don’t contribute significantly to your goals. These can often be delegated to your team.
4. Not Urgent and Not Important: Tasks that are time-wasters and should be minimised or eliminated.  Be ruthless here.

How CFOs Can Use the Eisenhower Matrix

1. Prioritise Effectively: By categorising tasks, CFOs can focus on what truly matters—strategic planning and business leadership—while avoiding the trap of getting bogged down by less critical activities.

2. Delegate Wisely: The matrix helps identify tasks that can be delegated, allowing finance seniors to lead more efficiently and focus on high-impact areas.

3. Reduce Stress: By systematically tackling the most important tasks, aspiring CFOs can reduce the stress associated with firefighting and last-minute scrambles.

4. Improve Time Planning: Regularly reviewing and updating the matrix ensures that your time planning aligns with the evolving demands of the business, helping you lead more effectively.

5. Enhance Leadership Skills: By mastering this time management technique, aspiring CFOs can demonstrate their leadership skills, ensuring they are prepared to take on greater responsibilities within their organisation.

Incorporating the Eisenhower Matrix into your daily routine can significantly improve your efficiency as an aspiring CFO.

By focusing on what truly matters and delegating less critical tasks, you can lead your team more effectively and steer your start-up or scale-up towards success.

Looking to advance and quicken your finance career? Follow the steps in our Framework below:

1. Sign up to our next workshop.
2. Work with me in the Financial Leadership Foundations course  that includes monthly Q&A sessions where we can discuss all of your questions and how to apply your learnings to your current role. 
3. Download the Upgrade your Management accounts course to showcase your skills as a finance leader to the Founder, leadership team and the Board.