05 June 2006

Evaluating the short term

It is vital to frequently re-assess how you are spending your effort to make sure that you are balancing your effort across the matrix of short vs long term; investment vs cash producing activities. Although this is almost a classic time management exercise, it is surprising how many businesses fail to stand back from the day-to-day and challenge themselves in relation to how they could invest their time differently.

Today was our day. It was highly useful and good for re-prioritising ourselves. It can be easy to get lost in the specific issues of a project and lose sight of the larger picture. We know intellectually how important it is to get the balance right, but we also know that, left to chance, we would almost certainly get some of it wrong.

We also thought long and hard about some of the projects that we are currently working on - and, as we inevitably do, came up with some excellent ideas for how we could improve what we are doing. Standing back like this isn't a luxury - it's a strategic necessity.

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