The Harvard Business Review offers great short tips in its “Management Tip of The Day”.
These were offered as tips for new fragile ventures. They suggested that knowing these three things would help to manage through this precarious time.
- How many days you have to live? Businesses fail because they run out of cash. Knowing exactly how many months or days you have to live can help you better manage costs and your funding strategy.
- Why you are doing this. Success requires hard work and constant attention. If you don’t know exactly why you should make the effort, neither will your funders.
- The top two critical issues. Be precise about which two issues deserve the highest priority. These may not be the most urgent, but are the ones that matter most to your venture’s success.
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