While running a startup there are some things you should never do and some that you must do/
Here are 11 thighs that come under must-dos.
- Thinking and analyzing whether your current goal and direction are right for you. What you work on is the most important action you can take as an entrepreneur because uninspiring small goals take as much or more time as massive goals.
- Training someone to do your low or no ROI work. Your success as an entrepreneur is directly proportional to the high ROI action you take. Getting new clients, ensuring their success, ensuring there is cash in the bank and building partnerships are all high-value actions. Decide what is yours.
- Auditing your time to find time to do high-impact work. If you audit how you spend your time for a couple of weeks, you will notice where your time is going and then you can tell where you should be spending your time.
- Organizing info, for easy analysis and retrieval. If you don’t organize info for long it will rule you. Invest time in a personal knowledge management system so that all your knowledge and important info are at your fingertips.
- Deleting, Automating, and Delegating work that is out of your zone of genius. Your zone of genius is where then magic happens. And, by deleting, automating, and delegating tasks you ensure that you’ll do all that matters without being stressed, overworked, or frustrated.
- Time spent on self-care. 7-8 hours of sleep, daily walks, meditation, and likes. Sleeping well and long enough is proven to improve IQ, plus there are mental, and physical benefits or self-care so make time for it and you will be happier and more productive than you’d be without it.
- 1-hour spent daily on learning, practicing what you learn, and applying what you learn in your business. This will help you stand out from the crowd because not many do it. Identify one thing that will take you or your startup forward and focus on getting better at that one thing every month. Next month pick something new.
- Getting good at hiring. If you want to build a fast-growing startup, this is your most high leverage action. So it makes sense to spend time getting good at uit.
- Pay yourself market-level salaries as soon as you can. This is especially important for bootstrapped founders. If you don’t pay yourself more than survival money, your startup may become a cause of your stress. You don’t want that. So pay yourself decent salaries.
- Investing in a coach or advisor who has already done what you want to do. This will speed up your growth and make it less painful and make you efficient overall. This works because this is what successful founders do eventually. If you do it early, you’ll get there fast.
- Not waiting for a big payout in the end, and paying yourself a profit share every quarter, six months, or every year. Smart founders keep money in the bank. Smarter founders don’t wait for a big payday and pay themselves often because a business is nothing if cannot support you financially.
Hope you’ll spend some time on these.