If you ever do sports you'll always read and hear you need to focus on your core muscle group. Your core muscles are the foundation everything else if built on. This concept applies to start ups as well.
In creating something new you almost never have have enough resourcs (people, money and time) to do all the things that need doing and do them well. So don't try. Instead decide on the one or two (not three or four) things you need to do very well. Is it sales? Is it a very specific few software features? Is it consulting specialty? You get the idea.
Create a Mind Map and Chart the Money
I like to use mindmaps. Create circles and boxes representing functional areas and draw arrows to how the pieces flow. In that map indicate dollar spend (in red ink) and dollar generation (in green ink). Everywhere you spend and make money rate it 1 low spend/generation and 5 high spend/generation.
I find this an easy way to identify, "boy we spend most our money here and generate most our money here - we better be pretty darn good in those specific areas."
Build your core around those areas. That means you should probably either make those area "in-house" people or very vetted and highly skilled outsourcers.
Everything else - deemphasize. Those areas are the best ones to outsource or "downgrade" internal hiring.
It might sound very simple, but mind mapping your business and charting your money against it is the easiest way to identify what "business muscles" to develop. Enjoy your work out!
In creating something new you almost never have have enough resourcs (people, money and time) to do all the things that need doing and do them well. So don't try. Instead decide on the one or two (not three or four) things you need to do very well. Is it sales? Is it a very specific few software features? Is it consulting specialty? You get the idea.
Create a Mind Map and Chart the Money
I like to use mindmaps. Create circles and boxes representing functional areas and draw arrows to how the pieces flow. In that map indicate dollar spend (in red ink) and dollar generation (in green ink). Everywhere you spend and make money rate it 1 low spend/generation and 5 high spend/generation.
I find this an easy way to identify, "boy we spend most our money here and generate most our money here - we better be pretty darn good in those specific areas."
Build your core around those areas. That means you should probably either make those area "in-house" people or very vetted and highly skilled outsourcers.
Everything else - deemphasize. Those areas are the best ones to outsource or "downgrade" internal hiring.
It might sound very simple, but mind mapping your business and charting your money against it is the easiest way to identify what "business muscles" to develop. Enjoy your work out!
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