June 30, 2022
Every business has two domains…
Running a business, and growing a business are two completely separate things.
In order to successfully operate a business efficiently, while actively growing the business, you need to differentiate and optimize these two domains…
Projects & Accountabilities.
When you understand the difference, you’re able to identify everything as one or the other, and clarify them accordingly.
Accountabilities are the tasks that have to get done on a regular basis to keep the business alive. These are the things that take place IN the business and are non-negotiable.
Accountabilities should be owned by a single person, and are best carried out via checklists.
Why a checklist?
Because they make it clear to see what got done or what got missed. And once they exist, it’s easy to to alter an existing process… You simply edit the checklist.
Time-based triggers are best, such as a daily or weekly review that are due on a particular day.
How to standardize accountabilities:
1. Clarify existing accountabilities
2. Create a checklist for every accountability
3. Clarify how often they’re due
4. Assign the accountability to a single owner
5. Create an automated alert system when accountabilities aren't completed in time
If you trust the system, you can relax in knowing that things are getting done when they should.
Projects are how we plan to grow and improve the business. This is what working ON the business looks like.
How to clearly define projects:
- What problem are you going to solve?
- Why is this important?
- What is the success criteria?
You can learn more about my project template here.
NOTE: A single person can own multiple accountabilities and projects. The important thing is clarifying ownership.
Go ahead and try it:
- Identify all existing accountabilities in your business
- Follow the checklist above to standardize accountabilities
- List out all existing projects
- Follow the checklist above to clearly define relevant projects
- Revisit and reprioritize projects every 90 days
Now everything in your business will be clearly labelled as an accountability or a project, you’ll have an automated system to alert you when accountabilities aren’t getting done when they should, and projects will be clearly defined.
See you all next Thursday 👋
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