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Some advice to keep your startup on track

  • Published at 06:54 pm August 31st, 2016

When starting your business, you need to juggle between lots of tasks. You need to prioritise on the work-related activities and take planned steps for the future of your startup. You need to effectively choose where you put your time and effort. Here's some advice to help keep your startup on track. Know your priorities First of all, you need to be very clear about your goals and write them down. Do not just keep them in your head and expect to manage all your work in the best way. Your goals need to be very specific and for each goal, you should plan for possible actions. You also need to set a planned completion date and assign a specific person to complete each action. Put your actions under "to-dos" and check them off your spreadsheet/list once you have completed them. Focus your efforts Do not work on everything at the same time. Complete one task before going to the next one. If you try to start working on all your ten or 15 priorities at once, it will only create chaos in your work. Instead of planning to wrap up 20 of your goals at the same time, complete two to three at a time and move on to the next. Prioritise tasks that build your core business For the viability of your business, you obviously need to bring in revenue. Now you might not get it right in the first time. So all you need to do is try your best and get feedback. Make changes accordingly and improve each time. Figure out ways to get more customers by getting testimonials or developing case studies. You need to improve your product offerings and customer service in order to build a consistent cash flow. Work for the future While you focus on tasks that involve the current growth of your business, do not lose sight of the future. If your business grows, you will need more employees, larger space, more production equipment and capitalisation. You will also require additional marketing effort and other skills and knowledge. So you need to include some long-term goals in your spreadsheet. Outsource additional tasks If you do not have sufficient time to complete everything on your "to-do" list, you must outsource some of the tasks. Some of your marketing efforts, administrative or accounting efforts could be included for outsourcing. Of course, you will have to allocate extra budget if you want others to perform your tasks. But if the value of the extra time you are gaining is more, then you should opt for outsourcing.   Articles reprinted under special arrangement with SD Asia