Prioritize Your Way to Profit
They say that perfect is the enemy of good. By the same token, trying to do everything can prevent you from doing anything. In my experience, the most chaotic workplaces were the ones where prioritization wasn’t a priority. The results aren’t only dramatic; they are harmful to your business.
When you have a lot of ideas and many suggestions coming at you that all seem good, it is very tempting to do them all. But unless you have an army of people and a really impressive infrastructure, doing all of that is simply not good business. To win online, you need to choose your battles.
There are some things that can help you to decide what it is you need to be doing now and what can wait. Here are some guidelines to get you started.
Will this fix something that is stopping you from growing?
Infrastructure is important. Having the right software, team, and functionality in place is what’s needed for your business. If there is something fundamentally inhibiting your revenue, that needs to be addressed. You can safely say this is a priority.
Will doing this make you money?
If what you are doing is not tied to revenue, what is its value to your organization? You are going to tie up resources and spend money on something, so if it isn’t going to contribute to revenue, how will it provide value to you? If you think it might prove to be profitable but can’t demonstrate it, it is time to weigh it against those thing that you know will make an impact.
Is there some time-sensitive dependency?
I have seen project get moved to the front of the line just because a press release what going out the next day even though more mission-critical items had to be put on the back burner to accommodate them. But when you are making an announcement or have some other commitment tied to it that would be detrimental to back out of, you need to plow through and get it done.
Is the opportunity too promising to delay?
When you kick off any project, you need to define exactly what it’s opportunity is. Once you have each opportunity mapped, it simplifies prioritizing. Is it going to excite your upper-funnel users? Is this initiative going to mobilize your repeat customers to turn them into loyalists? If there is measurable value in it, you need to put it on the roadmap. Where it ends up depends on your ability to execute in relation to everything else.
I know this may seem like over simplifying, but you really don’t need to do everything. You need to focus your energies on those things that have impact for your business. If you need help, we are experts at strategizing and demonstrating to you how one priority deserve precedence over another. Let us walk you through it. We’ll throw you a lifesaver and not let you drown in the everything of work.