Balancing focus & flexibility Kate Carruthers Growthtown Sydney March 2009 Source: http://www.fitness.com/articles/uploaded/1234153983_yoga_sex.jpg

Startups need balance … But it is hard to balance focus on: Competing needs Lack of resources Maintaining cashflow momentum While staying flexible to respond to opportunities

But it is hard to balance focus on:

Competing needs

Lack of resources

Maintaining cashflow momentum

While staying flexible to respond to opportunities

Source: http://www.flickr.com/photos/94403687@N00/185023874 Focus requires discipline

Focus needs … Goals Plans Strategy & tactics Metrics Key performance indicators Decision making process Defined roles & responsibilities

Goals

Plans

Strategy & tactics

Metrics

Key performance indicators

Decision making process

Defined roles & responsibilities

Source: http://www.treehugger.com/how-solar-energy-works-growing-plants.jpg Early growth requires focus

Product Admin/ Finance Sales Sales PR Focus Flexibility Goals Plans Strategy Tactics Metrics KPIs Rules What opportunities are you NOT interested in? When do you say no to an opportunity? Who says no? People stuff Values Beliefs Attitudes Habits Flow v Switching cost Business Core Actions History

But you still need to chase rabbits

Rabbits are… Unplanned business opportunities that you chase as & when they arise to maintain cash flow momentum

Unplanned business opportunities that you chase as & when they arise to maintain cash flow momentum

The problem with rabbits… Unplanned business opportunities can distract you from focusing on your defined business goals & strategy

Unplanned business opportunities can distract you from focusing on your defined business goals & strategy

The challenge… How to balance pursuit of opportunistic business without losing focus on your business goals?

How to balance pursuit of opportunistic business without losing focus on your business goals?

You need a plan … If you don’t have a plan then you can’t assess when to chase rabbits You also don’t know which rabbits are not worth chasing

If you don’t have a plan then you can’t assess when to chase rabbits

You also don’t know which rabbits are not worth chasing

Some basics … Predetermine rules for decision making: - input rights v. decision making rights Understand key metrics driving the business Track progress against goals Refocus based on results

Predetermine rules for decision making:

- input rights v. decision making rights

Understand key metrics driving the business

Track progress against goals

Refocus based on results

Some basics … Role clarity is key! - Who does what & when Values etc must align with the set goals Communication is important - What information must be shared - What information is private

Role clarity is key!

- Who does what & when

Values etc must align with the set goals

Communication is important

- What information must be shared

- What information is private

Source: http://www.flickr.com/photos/28481088@N00/535725576/ Flexibility is based on discipline

Thank-you www.katecarruthers.com www.slideshare.net/carruthk

www.katecarruthers.com

www.slideshare.net/carruthk