Look at the Bigger Picture

Given the current shutdown of businesses, Entrepreneurs must be stressed out regarding all that they have to do when everything opens.

The well-known Pareto Principle of 80/20 could be helpful.

A lesson from that principle is for Entrepreneurs to focus on the big things they need to do and not worry about all the small details. Delegate the small stuff to others. If one dwells on small things, there is little time to work on the larger, more important things in business.

Similarly, if you are dedicated to bringing back revenues, focus on the 20% of strategies and tactics that would generate 80% of the returns. The same philosophy should be applied to keeping employees,  customers and suppliers safe.

Do the Right Things!

Focus on the Present

The past, present and future sometimes all blends together for Entrepreneurs as they try to stay afloat and on course.

For some, the past is a painful memory of struggles, mistakes and even failures. Entrepreneurs must selectively forget the past and only retain useful lessons to prevent the same errors. Dwelling in the past is counterproductive and drains energy away from current pursuits.

Worrying too much about the future is not good either. One needs to have a plan for the future, but constantly evaluating all current actions against what might happen in the future is not helpful.

Focusing on the present, by using lessons of the past, will create the future.

Entrepreneurs need to devote most of their energy to manage the present. Create the foundation, processes and effective teams to deliver current performance. Unless you can have a strong present, you might not even make it to the future.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Published in: on June 12, 2018 at 4:45 am  Leave a Comment  
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Getting Distracted

Entrepreneurs understand the need for a clear Vision and the requirement to develop an appropriate Mission for that vision.

How many of you are really focused on the Vision and Mission (V&M) when making significant decisions? Do you get caught up in the day-to-day or near-term issues and challenges that you lose sight of the V&M? Do you get distracted on other opportunities that seem too good to pass up?

Be aware of potential distractions (disguised as opportunities) while you focus on your Vision and Mission.

Ravi Patel

http://www.patelCFOservices.com

 

Published in: on May 15, 2018 at 4:45 am  Leave a Comment  
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