Launching a startup can be all-consuming. You can never entirely prepare for what is ahead of you—and that’s part of the fun—but by taking some steps to simplify and streamline your life, you’ll be in a better position to deal with the ups and downs. The tips below can help you figure out how to eliminate some of the noise around you so you can focus your attention on your fledgling company.
Organize Your Finances
You should get your personal finances in good shape before you launch for a few reasons. One is that the state of your personal finances may be relevant to lenders or investors. Another is that if you can tighten up your budget and save money, you can put what you save toward your business. Yet another is that organized personal finances will help you determine exactly how much money you need to stay afloat. Try to automate what you can, pay down debts and look into consolidating multiple student loans with a private lender. This can help ensure that a payment won’t slip through the cracks, causing you headaches and costing you money in penalties.
Talk to Your Loved Ones
If you have a family, they are going to be making sacrifices in the early days, and you need to include them in planning how you will move forward. For example, if you are the parent of small children, your spouse may need to take on a bigger role in child care. Are they able to do that? Even if you don’t have a family of your own but live with roommates, the intense early days of a startup could mean that you aren’t able to pitch in to do chores. You might want to explore alternatives, such as shouldering the cost of a cleaner.
Budget Your Time
In the same way that you might take a tough look at your finances and where you are wasting money, you also need to do this with your time. Time is going to be at a premium in the early days of your startup, and you’ll need to learn to have good habits and avoid procrastination. You might need to step back from volunteer gigs or hobby groups you are currently involved in for a little while although be sure to keep this in perspective. Don’t abandon everything else you enjoy over the long term. Also, although you will have stretches when you need to work a lot, you should aim to have some downtime and get enough sleep. Burnout can sink your startup just as not working hard enough can.
Delegate
Before you launch, identify the individuals who can help you professionally. For example, you might need an accountant to assist you with your finances and an attorney to review any legal documents, such as contracts. You may also want to have a web designer even if you only need a simple site. You might need an IT professional, especially if data security is an important element of your business. Social media marketers and other consultants might be helpful as well depending on the nature of your business.
