𝗙𝗶𝘃𝗲 𝗙𝗼𝘂𝗻𝗱𝗲𝗿 𝗙𝗮𝗶𝗹𝘀 / 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀

90% of startups fail. How can you ensure yours thrives?

Over the next few weeks, we will cover the five crucial execution pitfalls in your startup and how to avoid them. Today is our third execution pitfall in the series: prioritization.

Startup founders are constantly juggling multiple tasks and decisions. Prioritization alone will not ensure success, but the inability to prioritize will guarantee failure. When a founder says, “Everything is important,” all I hear is, “Nothing is important.” 

I’d much rather accomplish three goals than just list ten I never complete.

Where to Begin

When deciding what to prioritize, always start with the problem you are trying to solve and ask what must happen next to move closer to a solution.

Limit yourself and the team to 2-3 priorities a quarter.

When a founder says, “Everything is important,” all I hear is, “Nothing is important.” I’d much rather accomplish three goals than list ten.

Urgent Versus Important

Important items create value. Seemingly urgent items such as emails, meetings, and social media often reflect others’ priorities, not yours.

Important matters often feel boring but require attention. If urgent issues constantly derail important projects, you need to restructure.

Also, important items often have interdependencies where one person is waiting on another, so make sure all major projects keep moving.

Formal Systems

Here are some frameworks to effectively prioritize. One may interest you.

Eisenhower Matrix: Categorize tasks into four quadrants based on urgency and importance and focus first on tasks that are 𝗯𝗼𝘁𝗵 urgent and important.

RICE Scoring: Evaluate tasks based on Reach, Impact, Confidence, and Effort to quantify the potential value of each one.

Story Mapping: Create a visual map of user interactions with your product and prioritize features that will significantly enhance their experience.

Your Calendar is Your Shield

Block time weekly to concentrate on the big picture.

"The key is not to prioritize what's on your schedule,

but to schedule your priorities." — Stephen Covey

To confirm that your efforts match your intention, check your calendar to see if you spend at least 80% of your time on what matters most.

Also, schedule time to replenish and refresh. Success will bring more pressure, so you want to learn and reinforce your resilience.

Other Remedies

While it’s tempting to dwell on the competition, instead direct your energy to areas you can control, such as a new release and building relationships.

Choose and meet with advisors who constructively push you to think holistically and proactively about your business.

Also, recalibrate regularly by asking the team, customers, and vendors how to grow, which will lead to insights worth pursuing.

Uncertainty and challenges are inevitable. Adapting leads to success prioritization requires a thoughtful balance between staying focused, agile, and committed.

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This post was written by me with AI editing. The illustration is generated by AI.

𝗦𝗰𝗮𝗹𝗲: 𝗥𝗲𝗮𝗰𝗵 𝗬𝗼𝘂𝗿 𝗣𝗲𝗮𝗸 teaches best practices for immediate impact in a holistic way.