Founding Team at GoFundMe | Owner at Wheelhouse Solutions | Business Optimizer | Tech Interpreter https://www.wheelhouse-solutions.com
Asking like in places like this is a good start. There is of course a wealth of information out there and different ways to approach it.
The things I would consider are the following:
* What are your skills?
* What has already been built?
* Are you bootstrapping or looking for funding?
* What type of product is it?
* Can you earn a dollar from it today?
* Do you have a team that can iterate quickly?
I've been through a lot of these types of conversations and would be happy to chat if you need to.
Whenever there is a shock to the system, good or bad it's always good to pause, let it wash over you, and just think. There were daily opportunities at GoFundMe to freak out. I really do see this time for companies to look very critically at how they've been operating and see what improvements can be made.
During this time, I've seen a company, first hand, finally get the opportunity to fine tune their systems, ask "the 5 whys" and cut bait on the things that were weighing the business down or just realized that they were doing certain things because "that's just how we've always done it." I think COVID has stripped away a ton of the BS. naturally. It becomes pretty clear what is important.
Here are a few questions I would ask myself:
- Where can I use technology to help automate certain tasks or processes that take up a lot of time? Do I even know what's possible?
- How am I spending my time each day and where should more of my time be spent?
- Am I aware of how my customers are doing? Is that feedback from the frontlines getting to me?
- Am I aware of how my employees are doing? Do they feel confident in my ability to lead during this?
There are so many more. I think the main takeaway is to make sure that you are really stopping and taking the time and space to think critically about your business and make the necessary changes. Making sure it’s not sprinkled in during your busy work but setting aside hours at a time when you’re fresh and away from media and influence.
I really hope you’re doing well and finding your way through this veery difficult time. If I can be of any assistance, I’m here to help.