The importance of “ruthless prioritization” for high-growth companies…
By Lewis Carpenter on October 6, 2010
For rapidly growing companies, a critical success factor is often “How good are you at deciding what NOT to do?” When you’re lucky enough to operate in a dynamic, high-growth market like ours, there are always too many opportunities, too many things you “should” do. And if you try to do them all, you will invariably fail.
At Winshuttle, we practice “ruthless prioritization”, which requires developing a common filter against which you evaluate any opportunity. The filter must mesh the core company values (i.e., “Will this bring additional value to our customers?”) with specific company objectives (i.e., “Will this help us exceed our % growth plan?”). By using this filter to prioritize the myriad of current opportunities and then drawing the line where you run out of time, money, or resources, you can get a clear picture of which projects fall “below the line” … of course, then you have to make sure you can live without everything that doesn’t make the cut.
Stretching resources too thin can be like stretching a rubber band too far…with equally painful results. Practicing ruthless prioritization helps us to avoid the pain of pursuing the wrong opportunities.