Priorities are the tasks and duties that you assign the most importance. They are the items that sit at the top of your list because your business will be at risk if you don’t do them. They take precedence over all other matters and without your vigilance, your company won’t advance. They are a good thing. But there can be too much of a good thing that can overwhelm you; so you will need to filter your priorities by asking things like:
- Which of your top priorities are essential to your profitability? You will need a filter to sift through all of the many tasks you have to do. Look to your profit and loss as your guide. Assuming you are running a for-profit enterprise, concentrating your efforts on those things that make the most money is a sensible approach.
- Is your list too long? Don’t confuse energy and action with progress. You will always have too much to do so working on the right things is far more important than working on everything. Take a moment to shorten your list and eliminate those things that really don’t move you forward.
- Do you have the time and resources to do all of your tasks? Maybe your list is too long because you are not delegating properly or more likely you just don’t have the resources you need. You will need to prioritize, change your timelines, reduce your ambitions, or perhaps, add more staff. Do it thoughtfully with your financial statements as your guide.
Wasting time, effort and money reduces your effectiveness and create risks to your success. A fundamental part of managing an effective start-up is putting things in the right order.