Explore a system to make time for your startup, including tactics like the Five Minute List and Do The Thing. Learn about the importance of setting the stage for startup success and the benefits of weightlifting for dads. Hear about overcoming challenges with a bold strategy and the importance of removing bias in decision-making.
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Quick takeaways
Creating a system that adjusts to the 'failure state' of unpredictable life events helps maintain momentum in working on your startup amidst other responsibilities.
The concept of 'selling the position' can be applied to personal time management, allowing for objective evaluation of routines and the identification of tasks to prioritize in order to stay focused on the startup idea.
Deep dives
Designing a System for Startup Failure
One of the main challenges in making time for a startup idea is planning for the moments when the plan breaks or when urgent matters take priority. It is crucial to create a system for the failure state, allowing for a quick return to the startup idea. By designing a system that naturally incorporates the startup into normal life, it becomes easier to stay on track. A method used at Tacklebox, an accelerator for startups, involves developing failure plans and building resilient internal systems. This approach ensures that setbacks don't derail progress and helps founders continue working on their ideas while managing other responsibilities.
Sell the Position: Overcoming Loss Aversion
To prevent losing momentum in the early stages of a startup, the concept of selling the position can be applied. The idea comes from a successful banker's strategy for managing tanking positions. By encouraging team members to sell struggling investments and take a break, they gained clarity and objectivity. Applying this concept to personal time management, individuals can objectively evaluate their routines and determine what to continue or discard. Creating a life inventory and identifying what tasks to bring forward helps in the decision-making process. By eliminating the need for willpower and building systems that remove distractions, it becomes easier to stay focused on the startup idea.
Previously On and the Five-Minute List: Maximizing Time
Two tactics that can optimize limited time for startup work are 'previously on' and the 'five-minute list.' Inspired by TV shows, 'previously on' involves recording a brief summary of the previous work session to provide context and maintain momentum. This method helps tie together different work sessions and prevents wasting time on reorienting oneself. The 'five-minute list' is a collection of tasks that can be accomplished in short intervals. This list ensures that small pockets of time are used productively, even during brief breaks or waiting periods. Employing these tactics, along with a mindset of prioritizing the startup as a business, enhances productivity and progress.
Today, we dive into a practical, resilient system to help you carve out and hold time for your startup amidst the craziness of your life. Most startups fail because the founders lose momentum when predictable life things pop up - you were supposed to work on your startup but your kid was sick or your job gets busy. You need to build a system that adjusts to this constant "failure state" - one that doesn't require Herculean willpower (wake up every day at 4am) and makes working on your startup easier than ignoring it. Today, we help you do that.
00:26 A System to Make Time for your Startup This year 02:55 Dad Fitness Club Idea 04:59 Smooth Jazz 05:41 Sell the Position 09:13 Life Inventory 10:11 Never Rely on Willpower 10:57 Previously On 12:42 The Five Minute List 13:44 Do The Thing 15:57 The End + The System
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