Slaying as a Startup Founder: Beat procrastination and get productive
To effectively manage procrastination as an entrepreneur, it is essential to grasp the unique aspects of the entrepreneurial journey. Firstly, it is important to acknowledge that startup founders possess a certain level of eccentricity. This is something that investors appreciate. According to The New York Times, investors expect founders to maintain a touch of unconventional thinking while remaining grounded. The demanding nature of startups necessitates individuals with the drive, ambition, and resilient optimism to overcome the inevitable obstacles.
Additionally, the life of an entrepreneur involves juggling countless responsibilities. Founders must wear multiple hats and handle various tasks, such as sales, business development, marketing, PR, and investor relations, often without the luxury of specialized teams. Consequently, some of these tasks are bound to present significant challenges.
Types of procrastination
Here are the three most common instances of procrastination that hinder productivity. While this list may not encompass all possibilities, these examples share a common characteristic—they impede progress and prevent one from diving into their tasks.
First, analysis paralysis occurs when individuals spend excessive time trying to understand the desires of consumers, the market, or investors, neglecting their aspirations as founders. In the strategic mapping process, outlined in the Findaway Growth Model, the first step is self-awareness. Instead of delving deep into data immediately, the focus is on assisting entrepreneurs in identifying their desires, passions, and sources of motivation. While data is valuable for decision-making, it can also become overwhelming. Suppose goals and objectives are not being achieved. In that case, it is crucial to refocus on personal goals and dreams as a founder, liberating oneself from being consumed by numbers and allowing for a more straightforward path forward.
For months, some founders heavily focused on fundraising. While this is a common practice, they continue engaging with investors who could be a better fit for them. This behavior can be attributed to an "upper limit" issue, as described by Gay Hendricks. It refers to self-sabotage when individuals don't believe they deserve success or fear the potential harm it may cause others. In some cases, entrepreneurs get trapped in a cycle of trying to please prospective investors, even at the expense of their well-being. It would benefit them to recognize the situation, cut ties with unsuitable investors, and explore other possibilities.
Lastly, we have traditional procrastination, which occurs when individuals find themselves easily distracted from their work. Consequently, establishing effective systems to combat procrastination becomes a significant priority. Some tips are mentioned below.
Prioritize not procrastinate
Begin by addressing small tasks before immersing yourself in more significant undertakings.
Doing so lets you approach the most challenging responsibilities early in the day when you possess ample energy and determination to accomplish them. This strategy is akin to ascending Everest from the base rather than starting at the summit (though different). Even minor achievements can motivate one to remain actively engaged until goals are achieved.
It is also crucial to recognize that learning to delegate is essential within the startup realm and must be noticed.
Deleting a task that a founder typically prefers to handle himself can be unexpectedly challenging for many founders. Particularly for founders who are self-driven.
In their fight against procrastination, founders must also be disciplined and religiously follow their task management system.
Time-blocking is a popular productivity strategy where specific time slots are allocated for various tasks or activities. This technique is frequently employed by tech startup founders to effectively manage crucial projects while allowing time for additional obligations like meetings or networking events. To implement time-blocking, create a schedule that designates specific blocks of time for different tasks, ensuring uninterrupted periods of deep work and separate time for meetings and communication.
Ultimately, founders need to remember to prioritize tasks based on their necessity rather than their immediate importance or urgency.
The Key to Success
Psychology Today states that approximately 20% of individuals consider themselves chronic procrastinators. However, among aspiring entrepreneurs, the percentage may be much higher, probably around 90%. Finding yourself in this category doesn't mean you are condemned to a life of procrastination indefinitely. By defining your value proposition, building a solid team, developing a clear business plan, focusing on customer acquisition, managing your finances carefully, and staying nimble and agile, you can make a business poised for growth and success. The founder can eventually alter your perspective and behavior with the right enablers.
The question remains: When will you take the initiative to make that change?