How many times have you started a project only to think:
“WHY am I doing this? Is this really adding value to my business or just wasting time?”
If you find this happening regularly in your business, here are a few priority management tips about to help you identify which projects to tackle BEFORE starting them.
- Keep an idea journal Write down all the ideas, opportunities and projects that come to mind, let it simmer for a week, THEN look back at it and decide if it still bears weight. Avoid throwing an incessant list of new projects at your team and hoping they will figure it out, because it will just cause stress and you’ll end up implementing projects that really don’t matter.
- Review your customer lifecycle and see if the project fits within your goals. If your goals are to increase customer retention, then your focus should be on the Fulfil and Delight stages. If the project does not align with that current goal, then don’t take it on and leave it for another quarter.
- Ask the question – Does this create a triple win for my business?
- Is it a win for the customers?
- Is it a win for my business?
- Is it a win for me and my team?If you can’t answer yes to ALL 3 of those questions, then don’t start it.
- Do a gut checkDon’t implement dumb ideas. Check in and see if this feels right to implement.
- De-risk the project
- Create a Minimum Viable Product – test!
- Get feedback before investing in it – Ask your audience! This is why it’s important to build a community of people so you can ask.
- Try shortcuts or any V1 of the product – Want to trial a new conference? Try it once on a small audience and learn from all the pain points
- Ask if you can make the worst-case scenario a win? – If the worst case scenario is that you wasted a lot of time and money, but you could turn all the content you generated through the process into something of value for your consumers, then YES, you’ve made the worst-case scenario a WIN!
Use this 5 point priority management checklist the next time you’re starting a new project and you’ll stop yourself from rushing into projects that will waste time and money.
Next Up: Once you’ve decided the projects you’re ready to take on, it’s time to set them up for success. Read more here.