Every person has an opinion. Sometimes you agree with them and sometimes you don’t. And sometimes you don’t get to vote.
Some problems within companies is that they have more ideas than they do resources (money or people) to implement them. You don’t always have to solve everything all at once so you have to pick the problem you want to solve today. Because there will always be problems. What is important is that you must know what the problems are. Then you can prioritize which is first, second, and so on.
Prioritizing is difficult because that means as you work on one problem others are not getting resolved. The hard, cold fact is that there usually isn’t enough time, money or people to do everything you want to do – right now.
To get beyond this, ask yourself: If I can only do one thing today, what will it be?
The answer is your priority. It sets the context for you to evaluate other options:
- For Less Money?
- With Better Results?
Prioritization doesn’t have to be complicated and doesn’t have to take a lot time. Try following these simple steps:
- Brainstorm a list of everything you’d like to accomplish
- Outline the potential impact of each activity on the business objective
- Estimate the cost of each activity (time, money and resources)
- Identify the activities that provide the biggest return on investment
- Prioritize the activities according to their return on investment
By evaluating the return of investment for each activity, you can determine how far your budget will actually take you. At this point, draw a line. The items above the line get done and the things below the line get done later.
When in a partnership you may need to keep these key areas in mind when making decisions:
- These are the objectives.
- This is how these strategies support the objective.
- This is how much money we have to spend
- This is the return on investment for each strategy.
Rest assured, there will always be more problems to solve, so prioritize and decide well.
Information provided by Laura Lowell and, with permission, shared. www.lauralowell.com
Author K. Meador is a mom to two grown sons who are currently pursuing their adult lives outside the home. She enjoys history, aviation, writing, and romance. In addition, she enjoys photography, walking, and visiting with family and friends. For the past several years, she has traveled with her job and has now settled down in Oklahoma City area.
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