MY BIG TAKEAWAYS FROM “REAL FORMULAS FOR HUGE GROWTH” WITH RICH SCHEFREN.
My experience of this podcast is that it was really rich with some important productivity and growth principles that I could see being quite on target for a lot of startup founders and other types of entrepreneurs.
SPRINT TO NEW HEIGHTS; DON’T TRY TO RUN A MARATHON
The Podcast points out that it’s more effective to sprint and rest than to run a marathon.
I’ve seen where there’s a common belief within the startup community that the only way that a startup will be successful is if the founders and early employees are running a marathon and working on the startup all of the time. This is really exhausting and causes a lot of good and talented people to burn out, or have all sorts of other negative consequences, such as health challenges.
After hearing the podcast, I agree that sprinting to a new place, that is to say, working really hard for finite periods of time, then recovering makes a lot more sense, and I see where in my own startup experience that setting a goal for a new feature or reality we want to see and then working all out towards the goal has been more effective than any other strategy.
But it only works if we rest afterwards, otherwise there wouldn’t be the feeling that enough energy would be available to tackle something really big in the first place.
STAY FOCUSED AND DON’T MULTITASK (ESPECIALLY IF YOU ARE ADD)
Another key point was that it’s more effective to stay focused on one thing than to multitask, particularly because things get done sooner.
For example, if A,B and C are tasks and if I do ABCABCABCABC then nothing gets done until I finish the sequence, however, if I do AAAABBBBCCCC I can start benefiting from having A complete early and benefit from having both A & B complete before I finish C. If I am working on a startup, this could mean having a feature done earlier and hence having the benefit earlier.
I think that often times I’ve seen startups really suffer by trying to do far too much at once and spreading scarce resources so thin that it can be hard to complete and benefit from any one thing, even if the benefit is just feedback on what is being built.
YOUR WEAKEST LINK IS YOUR NEXT GROWTH EDGE
Finally, the I thought that a really good point was made around adopting the approach of identifying the weakest link in a startup or in personal productivity as the best way to find the main problem to work on, or thing to improve.
To really dig deep into the issues and look for the main, underlying cause of the current 80% of the problems or symptoms being experienced. I think that a positive way of looking at this is framing what one might see as a weakest link as a person or startup’s next “growth edge”.
It makes sense to me that the maximum benefit can be gained by addressing the weakest link in the chain.
The podcast is available here: