3 Guidelines For Deciding To Start a New Project

3 Guidelines For Deciding To Start a New Project

Startups typically don’t die from starvation (lack of opportunity), they usually die from indigestion (taking on too many things at once).

Have you ever felt overwhelmed, and worse, realized it was totally SELF IMPOSED?

Come on, be honest.

I know you have, because I’ve done it MANY times in the past…

… the worst it ever got was when I was building my company Spheric and I decided I wanted to double the size of the business over the next 12 months.

So what suffered?

Everything!!!

– I put on 15lbs
– My friends thought I was a workaholic
– Family stopped calling

The worst part is I knew better… I knew I was burning the candle at both ends… but I didn’t have a framework for solving the issues.

So that’s what I want to share in this weeks video… essentially the foolproof framework I developed to help me decide when / if I should take on a new project.

At a high level, I use these 3 filters to help make my decision:

– Business Fundamentals
– Success Habits
– Responsibilities to Others

What I do is evaluate each one and ask myself if taking on a new project will sacrifice my ability to execute or deliver on these prior commitments.

The trick is to define them.

What are your business fundamentals?

What about success habits?

How about the responsibilities (or commitments) you’ve made to others?

Taking the time to sit down and evaluate the “status” and stability of these areas and being honest about the free “bandwidth” you have, will give you a clear sense of direction.

Remember, the more you grow and succeed, the more ideas and opportunities you’ll have

… the best entrepreneurs out there learn how to quickly evaluate them, and say yes/no FAST!

Do that, and you’ll kick some serious @ss!

Leave me a comment below and let me know your biggest take away…

Have an incredible day!

  • http://slidecraft.com slidecraft

    Great to hear this being talked about and thanks for challenging the stereotypes Dan. James

    • http://twitter.com/danmartell Dan Martell

      James,

      Thanks man!

      DM

  • http://collegecost.org/ Micheal McKinnon

    Ditto, Slidecraft. Great content, Dan. Would love to hear you talk more about your non-negotiable business fundamentals, though I realize there wasn’t room in this video.

    • http://twitter.com/danmartell Dan Martell

      @michealmckinnon:disqus thx!

      I do share these with my clients…. can’t put it all out online. 😛

      DM

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