Jim Harrer

STARTUPS, TURNAROUNDS, APPDEV, AGILE & LIFE...

Does it create Cash or Traction?

I recently sat down with one of the VentureBox startups I'm coaching, and we were reviewing their short term goals, over the next 30 days. They had a lot on their plate; it was time to groom the list. So I asked them a simple question:

 

Does it create Cash or Traction?


cash or traction

The moment of clarity helped force them into critical thinking. Entrepreneurs need to remain focused on moving the company forward every single day. Time is a scarce resource, use it wisely.

For each decision you face, ask if it will bring your company cash or traction. If the answer is no, then ask yourself why you're spending time on it? Is it really that important?

If you're overwhelmed with your to-do list, give it a try and let me know how it works for you.

...Jim

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Comments 1

 
Guest - Severn Anderson on Thursday, 15 March 2012 11:07

Very good advice, thank you. I try to always accomplish at least one very small task on my "Moving Me Forward List" even if it may be really minor. It gives me a tangible feel of progress that is essential to maintaining the passion and energy that I bring to my nascent business. Even if it is something small like doing trademark, patent, or copyright research or registering for a new account (Twitter, LinkedIn, Pinterest, etc.). The psychological aspect for me can be just as important or more so than the actual business return on that small activity.

Very good advice, thank you. I try to always accomplish at least one very small task on my "[u]Moving Me Forward List[/u]" even if it may be really minor. It gives me a tangible feel of progress that is essential to maintaining the passion and energy that I bring to my nascent business. Even if it is something small like doing trademark, patent, or copyright research or registering for a new account (Twitter, LinkedIn, Pinterest, etc.). The psychological aspect for me can be just as important or more so than the actual business return on that small activity.
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