Member Article

Top 5 Project Management Tips For Startups

Startups operate in a world of constant uncertainty.

Not unlike the world creative agencies are forged in, startups survive on a wing and a prayer. With an equally high chance of failure, both work with limited timescales, small budgets, key hires often lacking experience, and high expectations from staff and stakeholders.

In the words of Lean Startup author, Eric Ries, both are “a human institution designed to deliver a new product or service under conditions of extreme uncertainty.”

Most startups create and ship new products. Agencies deliver and sell services.

Time = Money

Startup finding is designed to last a certain number of months or years, depending on burn rates, revenues and profitability.

Most agencies don’t have that luxury. Many are bootstrapped. Every penny earned is through revenue alone. Every penny not spent goes towards a more secure future for the company and directors.

Agency directors can teach founders a lot, since without a financial runway, time is a carefully monetised commodity.

For agencies, time is money, which means getting really good at project management fast.

5 Top Project Management Lessons From Agencies

1. When You Win: Take A Moment

Do you acknowledge each win?

Or do you forget, quickly moving onto the next thing?

The daily grind is all about working hard towards a shared goal, but without taking a moment - treating your team (a meal, Friday drinks, an early finish) - a win can seem hollow, less satisfying.

2. Listen & Understand

How do you make a sale?

Most times, without even thinking about it, you listen more than you speak.

Leading project take that same approach internally. They listen, understand, and then apply solutions whilst externally managing stakeholder expectations. Balancing the needs of the team and stakeholders is about listening and devising workable, measurable solutions.

3. Give Actionable Feedback

“I don’t know, I just don’t like it,” is not feedback. That’s what you say when looking at an exhibit at The Baltic.

Only give specific feedback that can lead to actionable changes and therefore results. Otherwise, you risk wasting time chasing some vague ideal of perfection.

4. Not Everything is Urgent

Don’t panic, not everything needs to be done yesterday.

When a customer or stakeholder says, something is urgent find out why and whether you can manage expectations or immediate action is required. Again, it all comes down to listening, then setting achievable goals for your team.

5. Don’t Force It

Sometimes taking a creative break is what you need to think of an effective solution.

Don’t sit at your desk trying to force a good idea to appear. Good ideas rarely come from a tired mind in the evening at the end of a long week.

Take a walk. Take a break. Think about something else. Let ideas percolate. A solution almost always presents itself; but not usually when you’re tired and overworked.

6. Bonus: Let Mistakes Happen

Mistakes happen. Everyone messes up sometimes. Nobody’s perfect.

In the wise words of Don Draper: “Get out of here and move forward. This never happened. It will shock you how much it never happened.”

Go over the highlights, figure out what went wrong, and then move on.

Startups and agencies have finite time and funds in which early-stage projects can succeed or fail. Learning how to manage time, which is the way both generate more revenue than their costs, is the key to surviving and thriving. Make your mistakes early on, learn from others, seek advice and keep your eyes on the prize.

This was posted in Bdaily's Members' News section by Jerome Iveson .