Imagine a world where you only focus on a few projects you love, rather than working on a multitude of tasks you only just like.
The silver lining of the pandemic is that it forced us to reconsider many aspects of our lives – be it professional or personal – and expenses. In my case, the last year has renewed my focus on minimalism in how I run my business.
Though often recommended for your wardrobe or home decor, you can also try to apply minimalism to managing your business, and see the positive impact on your company’s efficiency, brand and strategy, as well as on its carbon footprint.
Minimalism began as an art form in the 1960s. As a CEO, this mantra has become a full part of my business strategy, which suits my company very well. By focusing on less, I free up the time, energy, and money to make the most of the opportunities my businesses are offered.
Minimalism in management: Where to get started
Building the strategy of your company starts with what your company does not do (or is not). While reading the following advice to apply minimalism to your management, bear in mind that it is a process.
All the more as you may be called any time for a project that requires 12 different skills – because it does happen!
- Committing to a minimalist workplace is an easy place to start. What about giving up all the fancy decorations and letting your employees work from home whenever they wish? Pipedrive, Slack, Microsoft Teams and other apps are relatively easy and inexpensive to set up and keep the teamwork going. Of course, only opt for the essential and relevant apps and devices you need, so you can keep focused and reduce your digital carbon footprint.
- Cut investments on projects which are not essential to your company, buy products you can reuse, consider keeping what is essential to an employee experience that prioritises a healthy work environment
- While cutting recurrent costs your company can live without, make sure you also cut all the unnecessary expenses that come up here and there. As natural as it may seem, you can be surprised by the budget for magazines and chocolate bars, you thought were kept to a minimum!
By keeping a close eye on your bank account and cutting what is not necessary to your core business, you can both reduce your environmental impact and free up time for public speaking, networking, and becoming involved in a group that has the same values as your company.
Social interactions are key and worth saving time for as they can help bring more opportunities to your business.
Eventually, my decisions in spending money and time as a CEO comes down to this: is it essential, is it top quality, does it match my values, is it sustainable?
Building the strategy of your company starts with what your company does not do (or is not).
You are ready to apply minimalism to your management, now what is the next step? The key to minimalism is to strike a balance between taking the risks that are necessary to achieve your priority goals while curating what remains essential and seizing a few relevant, targeted opportunities.
Managing the risks v.s. seizing the opportunities
The riskiest thing you can ever do as an executive is not to take any risks. The marketplace is full of opportunities – not only risks. Likewise, even the number one company must adapt and take risks, otherwise it is likely to become uncompetitive sooner rather than later.
Taking risks has played a major role in helping me upskill at various points in my career. While budgeting and meticulously working on the production of my debut feature The Golden Age, I announced to my business customers that our fee was going to double. They could have said no – in that case I was going to lose clients – but I analysed the risk and decided it was time to level up, and to find a way to step up the production of my period drama feature film.
Because of the value my business is bringing to the companies I work for, it worked great for everyone. I experienced firsthand the power of focusing on a few projects you love!
Eventually, my decisions in spending money and time as a CEO comes down to this: is it essential, is it top quality, does it match my values, is it sustainable?
The first reason why you should take risks as a CEO is for yourself
Taking risks gets you out of your comfort zone and opens you up to new opportunities. It is also necessary to take risks to support others and bring change in your industry. When I was 19 years old, I flew to New Delhi to pay homage to their incredible resilience, directing a short documentary, The Sparkling Homes, about Tara Foster Cares. The film helped to attract new sponsors, to keep previous donors informed of the impact of their contributions, and to raise awareness on child protection.
With risk inherent to our role as business leaders, learning how to manage it is key.
As a producer or director, safety is number one priority, no matter how small or big the risk seems to be. Risk assessment is a major part of pre-production, and preparation plays a key role in managing risk and reducing it to a minimum.
For instance, when filming The Sparkling Homes, I knew I would be filming in various locations in New Delhi, from the two foster care centers involved to various streets in the city.
I had extensively prepared a risk assessment for the filming, starting with the vaccines and health requirements (this was before Covid times) and reviewing every potential risk with the associations to make sure I would bring the right material.
I chose to travel in rickshaws whenever possible, which was both cheap and safer than filming directly on the street (it was also an immersive way to discover the city).
I had extensively prepared the filming phase with the association and planned my filming with them so that I could limit the footage to what was actually needed for the documentary.
By applying a minimalist mindset to my project, I not only kept my budget reasonable but I also reduced the number of risks that we were exposed to.
Taking risks is an adventure but it is also essential to make safety a priority, reducing risk wherever it is in your scope of responsibilities, by adopting a minimalist spirit. Not only will it make your company succeed and grow, but it also builds your knowledge and experience, enabling you to take new risks.
Ultimately, what is wonderful in our executives roles is that it gives us incredible resilience and energy to fight for the new, even if it is scary.