As a startup founder, one thing you need to learn is to do more with less. You have just taken the big risky step to start your own business. So, you should keep in mind that doing less is more than enough for you at this stage. At this point in time, you have fewer resources. Thus you need to be more careful about using these fewer resources. You have to find a way in which you can achieve more by doing less. Generally, the startup founders focus on doing more which is a wrong approach. Less should be done but with an efficiency which is the key to success for a startup is to achieve more.
Some people strategy to achieve more is to do more. But when you focus on becoming more, you will find that you can achieve more— Hal Elrod
In this article, you will find 4 ways in which you can achieve more by doing less
Hire a few employees
You have started with your startup and now to fill the positions you are hiring more and more people. Maybe thinking that hiring more people will help you achieve your goals faster. This is one of the biggest mistakes you are making. When you hire people at a fast rate, you compromise with quality. Moreover handling a large number of employees become difficult and only leads to more cost. So, it’s better for a startup to hire less but talented people. Your goal should be to hire fewer people but very good ones.
During the beginning of the startup, your focus should be on a few goods. It is obviously important for every company to add new products. But the thing that we forget to keep in mind is that at the initial stage of the business there is plenty of things to take care of. Adding more products will lead to more work. Startup should add more products only when they get established as try to do more with less. Many great companies have reached top positions by selling only a few products.
Involve few investors
As a startup firm, getting involved with lots of investors may increase the complexity. No doubt more funds are raised but on the other hand, complications are increased. As a borrower, you are liable to investors to give all the information where their money is used. So involving with more investors means less freedom. They might stop you from taking risky opportunities.
Related: Funding options in India
Set fewer objectives
The one big mistake startup make is setting many goals to accomplish at the same time. As we know in the initial time of the startup resources are limit. So obviously when there are more goals, resources time and energy have to divide among all. Ultimately this results in poor performance. Hence setting a few goals is better for a startup so they can focus properly. Setting a few goals might uncomplicated things. Moreover, it’s critical for a startup to set reasonable expectations so that it can be achieved
Learn to do less but achieve more. Make this your habit if you want to stay in the game for long. Doing less is the skill which you need to develop.
Learn to keep things simple, it will help you go a long way.