Founders challenge to prioritize – 6 steps for a better balancing act!

Balancing priorities of long, mid, and short term is the main challenge when scaling your business. All businesses have a shortage of time, money, and resources. Funding does not necessarily solve this, as it tends to turn into tougher goals. Raising tens or hundreds of millions means you need to spend that money even more wisely with higher expectations from shareholders.

What does balancing priorities mean?

When transitioning from a start-up into a fully operational and growing company, it is easy to get stuck in the day-to-day activities. Reaching the big vision easily becomes a second priority. However, the real effort  and hurdle lies in building for scale:

Building for scale is done by building repeatable patterns of successful operations, over and over again. How do we sell and market for solid conversion numbers? How do we assure a successful onboarding of our customers? What is the best way to achieve customer success? What is our product development process and how do we implement best practice? Lastly, what is our culture? Are our ways of working fun and focused? This requires time, effort, and new thinking from the founders.  

At the end of the day, your success depends on How you choose to prioritize between day-to-day work, building for scale, and long-term efforts?

Why is it so hard?

Working 24/7, which is usually the case, does not allow the founder to have enough time to work on long term activities. The founders are usually capable of creating solutions to most challenges. Thus, they can play almost any part of the company. This is a great asset and the reason why founders can get the business moving. However, in the scaling phase, the founder needs to get activities running without constantly relying on him or her. The only way for the founder to get more time is to shift focus and mindset from day to day activities into forward-thinking.

How can you go about it?

First of all, the founder must change into a leader instead of being an operator. The founder needs to form a scale-up team around him/her who can then build successful ways of working within all functions of the business.

Secondly, it is vital to get good advisors or a board; their job is to keep the company on track for the long term vision and make sure the founder keeps his/her focus on long term goals.

Note! The main goal is that the founder should have time to focus on the business and reach for the stars.

6 steps to start balancing priorities:
    1. Clarify your long term vision and define what team and advisors you need to scale. Use your current board and advisors as support, if you have any.

    2. Understand your own strengths and the role you need to transform into. Give yourself 2 years to reach the above.

    3. Make sure your team also understands the issue and plans for recruitment well in advance to fill any gap. Remember that it takes 6 months to recruit your dream player!

    4. Work with your team to set the tactical goals, 6-12 month achievements to support your scale-up journey. Remember to get buy-in from your current stakeholders.

    5. Make sure each team member takes ownership and operates accordingly.

    6. Go Go Go!

Rosebud has created the Rosebud Method & Toolkit to help CEOs and founders easier transform their businesses from start-up to scale-up in an efficient and fun way. Contact us, if you wish to know more:

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