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So much to do, so little time

As a business owner/manager you have loads on your mind. There are the daily tasks that fill up your to-do list but also bigger ticket items. These can be:

  • New website

  • Create/review roles and responsibilities

  • Review processes and procedures

  • New CRM system

  • Generate more leads

  • New production line

  • New store

And so forth. The list can be endless.


While there is a plethora of ways to prioritise daily tasks (today/ASAP/whenever, the Eisenhower Matrix, etc.), prioritising bigger, longer-term and more complex projects is trickier.


Luckily, there is a handy solution.


To determine what to do first you need to consider the following aspects of each project:

  • Speed – how fast will it yield results

  • Impact – how much it will affect the business

  • Feasibility – is it doable and affordable/profitable


Each of these aspects should be scored on a scale of 1-10 where 1 is the slowest/lowest impact/lowest feasibility and 10 is fastest/most impactful/most feasible.


You then multiply the 3 scores to get an overall score for each project.


For example:

Project

Speed

Impact

Feasibility

Overall

New website

5

3

8

120

Create/review roles and responsibilities

8

6

10

480

Review processes and procedures

6

8

10

480

New CRM system

3

9

6

162

Generate more leads

4

8

5

160

New production line

2

9

3

54

New store

3

7

4

84

 

In this example you will prioritise the projects as follows:

  1. Create/review roles and responsibilities

  2. Review processes and procedures

  3. New CRM system

  4. Generate more leads

  5. New website

  6. New store

  7. New production line

(The first 2 projects scored the same so unless new information is available it does not matter what you do first.)

 

It is important to score the 3 aspects first and multiply them at the end, as otherwise you risk letting prejudice dictate the overall scores.

 

How many of these projects you can do concurrently is a question of resources (time/money) so the next step is figure that out.

 

This is a crude but effective way to simplify complex decisions. It makes sense to use it before planning the next year’s budget as cost/revenue affecting projects will impact it.



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