We left the RoC Startup Series off that the writing of the business plan. Some people disagree with me on this point. Execute first and the rest kind of falls into place. This isn’t entirely wrong either, but there are very few of us that can stay focused enough when we are excited about a business opportunity. And when you get into the execution of things, there are so many unforseen obstacles and difficulties that arise along the way that having the fundamentals written down on paper is really helpful.
So let’s assume that you have the team and the plan down now. What do you do?
Divide and Conquer
There are some people that will try to go about this alone, but we’ve already determined that this is not the optimal route. You have a team now whether it be 2 or 7, it doesn’t really matter. What does matter is that you can support each other along what is bound to be a long and tumultous (and hopefully rewarding) ride.
Now lock yourself and your team members and divide and conquer. It’s already clear why the team came together based on each member’s respective expertise and talents. Use this expertise and have everyone doing what they are good at. If you’re a technical guy, you shouldn’t be charged with controlling the finances of the company and the resident accountant shouldn’t be worrying themselves about the social media strategy. There are a finite number of hours in a day and an even more limited number of hours people can be working. To ensure the most efficient use of time capital, get working on your respective tasks!
Keep Track of Progress and Work
I can’t stress how important this is and how critical it will be for your company to put in place a system that works well. Just collecting information and tasks without a way to backtrack or analyze what has been done or what needs to be done. Our company uses Basecamp which is a great system that ties in email to be able to keep track of discussion, to dos and important dates!
You may have already done this in your business plan, but set milestones both for yourself and your company. It’s both to be able to have the satisfaction of meeting your own goals, but it’s critical to measure progress going forward. Set achievable but aggressive milestones and do everything in your power to meet them!