Best New Year’s Resolution for Startups
Spend less in meetings and more in development. Or as Fab founder Jason Goldberg puts it, “Less Meetings, More Doing.”
In the startup world, time and money used are the two most important things you can control and it’s vital to always be using both wisely.
As most leaders know, money is wisely used for hiring staff, software and tools and not as wise to use on cushy chairs for your meeting room.
Less obvious than allocating money is allocating time. A one hour meeting with five of your staff is a five hour meeting. Not to mention the time needed to switch gears before becoming productive again.
Meetings aren’t all bad, they are essential for communication and coordination, it’s just that they are hard to keep tight and on point. Check out this article by Time Management Ninja with tips to streamline your meetings.
To explain further, business is like a game and meetings are like huddles. Sometimes you need to call a time out to coach your players and get them on the right track. Don’t take your eye off the ball though, the team with the most huddles doesn’t win the game, the team with the most points does.
Here’s an easy exercise to demonstrate your time spent in an average week:
Come to your office on a Monday morning with four stacks of pennies and two mason jars. Label one jar “Time Spent” and label the other “Time Invested”.
For every half hour increment you are at work, put a penny where it belongs. Half hour talking about football? Penny in Time Spent. Hour long lunch? Two to Time Spent. Hour long client lunch? Two to Time Invested.
Be honest with yourself and see how you end your week. Hint: Facebook is typically Time Spent.
I appreciate any feedback on this article and what you learned from it.
Have a fruitful new year!