If you define your self-worth as an entrepreneur by how busy you are, it’s time to find another lifestyle. We all know people who are extraordinarily busy, but never seem to accomplish anything. For survival, entrepreneurs need to be all about accomplishing results that matter for themselves, their team, and their customers. That’s productivity.Why is this so hard? In a classic Franklin Covey study, respondents indicated that 40 percent of their time was being spent on things that were not important to them or their companies. That is a huge hit on productivity. For insight, I recommend the details provided in a recent book “The 5 Choices: The Path to Extraordinary Productivity,” by Kory Kogon, Adam Merrill, and Leena Rinne.Although the authors focus has been on large organizations, I believe concepts are even more relevant to entrepreneurs and startups. Every entrepreneur should consciously follow these five key actions and implementation tips, to compete and survive, as well as to get the personal satisfaction they expect from the lifestyle:
In addition to following these choices personally, and entrepreneur has to instill the same priorities and values into every member of the team, through leadership. Every business culture is built by the actions of its leaders, primarily through the startup process. Here are some ideas on how you can exercise leadership in creating a high productivity culture throughout the team:
Whether you are the entrepreneur leader or a team member, remember Pareto’s Law, which asserts that 80 percent of all outputs result from 20 percent of the inputs. It’s not the hours you work, but the work you put into those hours. Think seriously about which 20 percent of your tasks will produce more results than the other 80 percent combined. That’s extraordinary productivity.