Page 126 - The 7 Day Startup: You Don’t Learn Until You Launch - PDFDrive.com

12. Avoid Short-Term Thinking

Building a startup takes time. Chasing short-term projects or launches is easy,
but it doesn’t build an asset. Launching a whole bunch of related services will
boost short-term revenue, but it will add complexity to your business that will
hurt you in the long term.

Patience isn’t something that many entrepreneurs have, so you might have to
work on this one.

I’ve found two things that help:

1. Use a simple spreadsheet that predicts growth 12 months in advance. Seeing
those numbers can be motivating and act as a good reminder that it will be
worth waiting around.

2. Have an “abundance go to” saying. The one I used to tell myself early on
was: “There are 70,000,000 WordPress websites. Surely there are 500 of
them who will pay $69/month to make sure they don’t have to worry about
their site.” When you put it like that, it seems crazy to do anything other
than continue focusing on building your business. This help with
motivation, but it also is a reminder that you don’t need to chase other shiny
objects.

Think in the long term about what asset you are building as a result of actions
you complete today. Getting carried away on short-term projects will kill any
chance of momentum and hurt growth.