balancing focus & flexibility as you grow
DESCRIPTION
brief thoughts on balance between focus and flexibility for startups - at Growthtown Sydney March 2009. For those who attended IRL these are the slides I did not actually use for the talk but cover what I really drew on the whiteboard.TRANSCRIPT
Balancing focus & flexibility
Kate Carruthers
Growthtown Sydney
March 2009
Source: http://www.fitness.com/articles/uploaded/1234153983_yoga_sex.jpg
2009 © Kate Carruthers 2009 2
Startups need balance …
But it is hard to balance focus on:Competing needs Lack of resourcesMaintaining cashflow momentumWhile staying flexible to respond to
opportunities
2009 © Kate Carruthers 2009 3Source: http://www.flickr.com/photos/94403687@N00/185023874
Focus requires discipline
2009 © Kate Carruthers 2009 4
Focus needs …
• Goals• Plans• Strategy & tactics• Metrics• Key performance indicators• Decision making process• Defined roles & responsibilities
2009 © Kate Carruthers 2009 5Source: http://www.treehugger.com/how-solar-energy-works-growing-plants.jpg
Early growth requires focus
2009 © Kate Carruthers 2009 6
ProductAdmin/Finance
SalesSalesPR
Focus Flexibility
GoalsPlansStrategyTacticsMetricsKPIs
Rules What opportunities are you NOT interested in?
When do you say no to an opportunity?
Who says no?
People stuffValues
Beliefs
Attitudes
Habits
Flowv
Switching cost
Business Core
Actions
History
2009 © Kate Carruthers 2009 7
But you still need to chase rabbits
2009 © Kate Carruthers 2009 8
Rabbits are…
Unplanned business opportunities that you chase as & when they arise to maintain cash flow momentum
2009 © Kate Carruthers 2009 9
The problem with rabbits…
Unplanned business opportunities can distract you from focusing on your defined business goals & strategy
2009 © Kate Carruthers 2009 10
The challenge…
How to balance pursuit of opportunistic business without losing focus on your business goals?
2009 © Kate Carruthers 2009 11
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
2009 © Kate Carruthers 2009 12
Some basics …
Predetermine rules for decision making:- input rights v. decision making rights
Understand key metrics driving the business
Track progress against goalsRefocus based on results
2009 © Kate Carruthers 2009 13
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
2009 © Kate Carruthers 2009 14Source: http://www.flickr.com/photos/28481088@N00/535725576/
Flexibility is based on discipline
2009 © Kate Carruthers 2009 15
Thank-you
www.katecarruthers.com
www.slideshare.net/carruthk