There’s a couple things I do better than most. 1) Vaca Prep & Pack lists; 2) Pizza Sauce; and 3) Quickly getting from A to B.
While numero 1 and 2 won’t get you very far in business. . . number 3. . . that’s my jam. In one plan I can map out what you need to do, what is the very basic to most bells and whistles options and we can banter back and forth on your ideal plan. But not everyone has that eye or ability to assemble and get to work quickly. Most people get caught up in one (or more) of these 7 things in project planning that actually COST you money (well before you even see a return).
#1 Planning too much
This is seriously the most expensive mistake you can make. Don’t get me wrong, I am a planner and a break it downer. BUT planning every itty bitty thing about the project before you actual start is costing you money. Why? How? Isn’t be best strategy to be girls scout prepared?
No. It is not.
You need enough to get started, but you do not have to see every pine needle to get your rear in gear. You will spent MONTHS planning this thing PLUS MONTHS actually putting it together and 6 months later you might have a doable project. Who has 6m of ROI to waste? I certainly do not.
#2 Planning too little
Yes I see the irony here. This is kinda hypocritical, but here is cost associated with planning to little. Like I said, you need a minimum amount of planning to get started, but you still have to have a plan. If you don’t plan your starting point and your next few steps you’ll likely end up somewhere you didn’t intend and waste so many hours by being 3 degrees off your ideal target. That can add up and cost you so much in money, time, and mental energy.
Ideally, I like to plan specifics is 60 days-90 days. You learn so much about your business, your ideal client, and yourself in 90 days and that is a good sweet spot to aim for.
#3 No get of jail free card
One of your main jobs as the CEO of your company (or if you are lucky to have an #allthethings manager like me) is to subjectively look at the resources in and product out. Sometimes you have to make a tough call to shelve an idea or scrap completely because it is simply not coming together.
That is HARD and many times we are so emotionally connected to the idea in all its glitter and sunshine and glory. It’s hard to let it go. I get that. BUT the worst thing you can do is continue to force a round peg square hole scenario, continue to pay actual dollars for your team’s focus, the inputs, and your attention. When you are working on an idea, whether its revenue generating, growth focused, or BTS if you continue to work on the idea without a clear and completed stage or viable end product then you gotta make the call.
It is FAR easier to do this when setting the priority and focus of your team into sprints, you also set the ‘get out of jail free’ date too. This mean is by 1 sprint worth (or maybe 2 if you are feeling it) and you haven’t made significant progress to a milestone or completion, then you move on.
#4 Planning in a vacuum
It is so easy to make grand plans for projects, without considering the environment. Here’s some examples: Launching product 2 weeks before a vacation or busy family season; planning for Stage 2 of a product when Stage 1 isn’t finished or ready for refinement; Planning a launch without considering the development stage; Taking the project’s end goal (money, program numbers, or extensive growth) without milestones and benchmarks to help you reach it.
Its easy to make the plans, but hard to execute when it extends yourself and your team too far. You should aim for the stars- but in practice you need to have a layer of practicality and don’t marry a project or idea without living the real world with it. Vacations, family time, your team’s schedule, development, and goals ALL matter- but you want to feel accomplished not defeated at the same time so don’t plan your company’s sink or swim projects in a vacuum.
#5 Not delegating
Right now, if you were to look at your active projects you can probably pinpoint at least 3 items that you do not need to be doing yourself. Even if it is easier for you to just schedule the thing, follow up on that, write the email, or pull the graphics. . .that may not be your job and how you best serve your team.
The lack of delegation (even if unintentional) will keep you off target, working on items outside your zone, and cost you money because you are doing something you are paying someone else to do. It also is training your team that you will pull up their slack, keeps them from asking questions, and- by no fault of their own- decrease their opportunity take initiative.
# 6 Not keeping the end goal in sight
This should be easy right? Set the project, lay out the tasks, pace yourself to complete XYZ. How many times have we started off on a simple 3 email sequence and it has bloomed into a multi-step funnel that will nurture, retarget, and hard sell the product. You look back and think, ‘what was this in the first place?’ Answer: a simple sequence. Working on the project with no clear end goal in site allows for the project to morph into something that it is not. Which is not only wasting resources working on something you didn’t need and causes unnecessary stress working on a level 20 task when it started at an 8.
# 7 No Minimal Viable Product defined
I love big ideas. I love working on massive projects that set up businesses for success and open the doors for mire opportunities. BUT what I really hate is when at a certain point in time, we have a viable product (meaning something ready to sale or complete) and we continue to push towards adding bells and whistles and hype music. The goal of how I manage is to get you quickly to A to B. That involves not only breaking down steps towards your ideal vision, but also keeping in mind when we have something ready to sell- to bring it to the people! I see this a lot with perfectionists. Does it really need those extras right now? Especially if you have a primed, warm, or ready to buy crowd? MVP is made easier to see when you set up benchmarks and milestones during project development.
These mistakes can cost you money time and resources. What I love about using an agile framework, The Progress System, to break down and manage projects is that it keeps you from falling victim to one of these mistakes.
Whether its dates, or planning, delegating, or end goals. . . you can see the progress and how quickly you are getting there all the while make adjustments on the fly if needed. You can learn how to adapt the system to your operations and project planning (and avoid these costly mistakes) by download your complimentary Progress Gameplan. It’s all you need to pace yourself, set goals, and keep the gears moving in the right direction.
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