Many entrepreneurs find themselves overwhelmed at first. There’s everything to do and not enough time to get it all done. We all know the importance of having a to-do list, but no less important is to know the things which aren’t worth your time and to stop doing them immediately.
Among the easiest of pitfalls is refusing to delegate. Early in a business’ life, many of us want to handle everything ourselves to save money. That strategy doesn’t work out so well when you’re working 80 hours a week and seeing your company’s growth stall out. It’s far better to take a risk and hire people whom you can delegate tasks to, so that you’re free to actually run your business.
Another mistake that’s all too easy to make is perfectionism. Flash edges on your websites and gorgeous layouts are all well and good, but that’s the icing on the cake;
The cake itself is your content. Get the core essentials right and you can leave fine-tuning the appearance of your website or PowerPoint presentation for later.
Similarly, while it is important to block out some time for administrative tasks, don’t let the small stuff distract you from the big picture. Focus the main thrust of your energy on tasks that will propel your business forward.
Choose a strategic priority every day and don’t rest until you’ve worked on it.
When investment dollars are tight, it’s all too tempting to overhaul your pro forma financials more often than is truly needed. While you want your pro forma to be reasonably “accurate,” it’s a better idea to focus instead on your cash plan. Knowing how much money you need to get up and running is more valuable.
The idea of getting every detail right is a seductive one, but is ultimately a distraction. Spend your time more wisely on the truly important work, marketing and selling, and your business will shine.