New founders often find themselves awash in a sea of concerns: revenue growth, hiring, firing, funding, family responsibilities, and lots more all at once. It feels like a murky mess. During the course of a day these concerns swirl around in your head while new tasks get added to the mix. Overwhelmed and at a standstill, you’re exhausted, and the clock keeps ticking.
Here’s a solution:
I’m a big fan of time blocking/boxing as a visual way to plan your week. “Compartmentalizing” takes time blocking one step further. It is a process of separating conflicting concerns into different mental “compartments” to manage them separately. This is a helpful coping strategy for getting concerns out of your head and on paper. Compartmentalizing concerns is helpful to your mental well-being, particularly in situations where emotions or worry take hold.
Each area of concern can be a compartment. For example, let’s take “funding your enterprise” as a compartment. Compartmentalizing involves breaking down the larger issue of securing funding into smaller, more manageable components. Carve out a block of time in your calendar for each component:
Clearly defining the amount of funding required and the specific purposes for which the funds will be used.
Example: Break down the funding needs into categories such as product development, marketing, and operational costs. This will provide a clearer picture of where the funds will be allocated.
Research different funding sources and methods available to startups.
Example: Divide this task into exploring traditional funding options (e.g., venture capital, loans) and alternative methods (crowdfunding, accelerators). This helps in understanding the pros and cons of each option.
Build a Pitch Deck:
Example: Break down the pitch deck creation into sections such as problem statement, solution, market opportunity, financial projections, and team introduction. This makes the process more manageable and ensures each aspect is well thought out.
Focus on building relationships with potential investors.
Example: Divide this task into smaller activities like attending networking events, reaching out to mentors, and participating in industry conferences. Each activity contributes to building a network that could eventually lead to funding opportunities.
Develop a detailed financial plan.
Example: Break down financial planning into creating a budget, forecasting revenue, and outlining key financial metrics. This allows you to focus on one aspect at a time, ensuring a comprehensive and well-thought-out financial strategy.
By breaking down a compartment into smaller, manageable components and assigning specific times to address them you can make progress on multiple compartments in a more organized and efficient way.
Need one-on-one help compartmentalizing? Contact me at Rebecca@MIndfulCommunication.com. Visit www.MindfulCommunication.com.
Happy Thanksgiving to all! I’m kicking off the holiday season with a topic we can all relate to. Could better business decision-making make a more successful 2023-24 for you?
My client, RJ, sorely needed to hire an administrative assistant (AA). He decided to take charge of this task on his own.
Two weeks later, RJ reached out for help having made no progress. “What got in the way?” I asked.
His response included a host of the usual culprits ─ the tendencies that conspire for many of us when making important decisions. They included:
Overthinking. RJ was conflicted. He spent his time collecting online articles about what makes a good AA, how to manage an AA or how to manage himself instead.
Fear. He discovered several articles about AAs who stole an employer’s money and resources. The potential costs of detectives, lawyers and court time further stunted progress.
Avoidance. In addition to the above, as an introvert, he dreaded the hassles of interviewing so many people and wasting time on poor candidates.
Perfectionist tendencies. His expectations were a bit too lofty for the money he was willing to spend on an AA.
Poor sleep. RJ often stayed up well past midnight trying to be his own AA. Consequently, after several weeks of too little sleep, he was irritable and more indecisive than usual.
4 Step Business Decision Making Process
Therefore, we created a basic 4 step business decision-making process that he could adapt for future decision-making. Together, we:
gathered the essential facts. As the research suggests, when making decisions ─ less data is more.
narrowed down the job description to a short list of absolutes: duties, specific qualifications, experience, salary requirements, in-person vs. remote, etc. This would save interview time.
discussed the short-term and long-term advantages for making a “good” versus a “perfect” decision and why to make it soon. RJ had many projects coming up and was becoming increasingly disorganized with current tasks.
got the process out of his head and down on paper. We drew a pros and cons table for the interviews. We listed the absolutes in the column on the left and spaces for the applicants’ names across the top. We left a few rows open for bonus features a candidate may offer such as “willing to work on weekends” or “does errands.”
RJ agreed to post the job immediately, knowing that he could amend the description if needed.
The happy ending: By the end of the week, RJ had spoken to five candidates who met the very specific job description. In a manner of minutes, the table made it easy to narrow it down to two applicants who were the best fit for the job. Knowing how another decision could lead to overthinking, RJ gave way to his gut instincts and made his choice.
Some business decisions are easier or more difficult to make than RJ’s. Nevertheless, getting the process down on paper reduces the emotional and cognitive overload resulting in faster and more efficient decision-making.
I am grateful for your queries and your requests for solutions to the perplexing executive functioning problems many founders face. Send them to me at Rebecca@MindfulCommunication.com. Watch for solutions in future blog posts. Visit my website at www.MindfulCommunication.com
When Victor Hugo, the playwright, procrastinated and wanted to go out to a café instead of writing, he coaxed himself to get work done by having a servant take away all his clothes and return them only until he completed his work. A bit extreme, but it worked.
It’s tax season, time to get back to the gym, plus all the other things you may be putting off. Don’t fret, keep your shirt on! I have a better solution. Check out my 80→20 Nocrastination tool.
Go to my websitewww.MindfulCommunication.comand hit the TOOLS menu. Open the 80→20 Nocrastination Tool. No downloads, and it’s free!
The 80→ 20 tool will walk you through the steps to get started on the task you are putting off. My clients describe procrastination as an ever-widening deep, scary chasm between them and the start of the task. The gap is filled with potential obstacles: uncertainty, boredom, the fear of failure and the dreaded emotions that accompany them. The longer you put off a task the greater the gap.
The 80→20 gets you started, and gently guides you through each step towards DONE. The 8 questions (the 80%) gradually clear the obstacles making the task more approachable. The last 2 steps (the 20%) help you follow through to DONE. The process is easy and can move quickly. Every step narrows the gap and eases the stress.
Give the 80→ 20 a try. I would love your feedback!
Still stumped by procrastination? Seriously? Contact me at Rebecca@MindfulCommunication.com
What can you do to get things done, done well and on time with greater ease? Here are some good starting points:
Delegate A bit time consuming up front, but a better long-term solution. A solopreneur client, who hates accounting, figured that if she hired a bookkeeper once a month for a nominal fee, it would be one big ugly task off her plate. Instead of suffering with the bookkeeping, she uses those 2-3 hours to do what she does best and covers the bookkeeper’s fee 5 times over.
Best time of day Deep work requires prime time focus and concentration. You’ll get through those tasks faster and with greater accuracy at a time that is optimal for your focus and energy level. Use low energy time for mindless work like laundry or house cleaning.
Assess the task Before jumping feet first into a task, look it over and get an idea how involved the task will be. When’s the deadline? Will you need assistance, resources or a location more conducive for working on it? Do you need to break it up into chunks and spread it out over time? You may also find that the task will take less time than you imagined!
If you’re a PRO at procrastination, let me help you turn the PRO into a NO! Contact me at Rebecca@MindfulCommunication.com
A large project looms. Some parts are enjoyable, other parts not so much. Just the thought of getting started strikes terror in the hearts of many.
The experts say, “Just break a project down into chunks.” More terror! Why is that? I’ve discovered that some folks need a few micro steps, a “warm up” so to speak, BEFORE the chunking phase of project execution. Here are some micro steps to consider:
Ask yourself what does the outcome look like? If it’s a business plan you’re writing, what does a decent business plan look like? Glance at a few examples online; select a simple template. Perhaps it’s less daunting than you think.
What is the purpose of the business plan? Is the purpose meaningful enough to you? Is it a stepping-stone to realizing your dream?
What pen-to-paper micro step, and I mean really small step, can you take next? Over the next few days, for 10-15 minutes a pop, jot down a couple notes in some sections. Jump around between sections. No particular order or perfect grammar needed.
Now that you’re warmed up a bit and have some content, sketch out a reasonable timeline for completing parts of sections. Going micro before the chunking phase gets things moving and ramps up your motivation.
As a solopreneur, timely and fearless project execution is core. Get COREageous. Consider a two-hour CoreCoaching session to make your big task more approachable. Contact me at Rebecca@MindfulCommunication.com
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My client, RJ, sorely needed to hire an administrative assistant (AA). He decided to take charge of this task on his own.
When Victor Hugo, the playwright, procrastinated and wanted to go out to a café instead of writing, he coaxed himself to get work done by having a servant take away all his clothes and return them only until he completed his work. A bit extreme, but it worked.
A large project looms. Some parts are enjoyable, other parts not so much. Just the thought of getting started strikes terror in the hearts of many.
"It takes more than courage to be an Entrepreneur, it takes CORE."