Business strategy

Why startup founders need speed

- August 10, 2022 2 MIN READ
Photo: AdobeStock
Tick tock – can others hear your clock?

Recently I introduced a startup to a potential investor and they followed up in 4 minutes.

How a startup works with time is a clear indicator of their culture and can be an indicator of their future success.

Why time matters

Time is everything in a startup. The resources that we have fuel a timeline.

When the resources run out, the timeline ends. The job is to extend the timeline before the hour glass runs out.

Time between actions is waste.

If it takes 3 weeks to answer an email, then that is 3 weeks that has been added to the timeline with no value delivered in between.

When it is possible to feel the cadence of a company in their actions, it can pull the other party into the same rhythm.

The march towards the next action is more likely.

Do you have a metronome that people outside can hear?

  • When other people interact with you, can they hear your click of time?
  • When you send out updates, do they land on schedule at the same time each week?
  • Can others feel how much you are getting done in each cycle?
  • When you agree next actions, is the timing clear?

Do you habitually compress cycles?

  • How can I automate this?
  • Who could do this for me?
  • Did I just manually create something I have created many times before?
  • Are unnecessary activities cluttering my timeline and blocking the flow?

This is one way that I measure myself

When a common activity takes too long, I know my systems have broken. My clock is broken.

It is time to reflect, consider my schedule, remove clutter and automate.

  • This post first appeared on Phil Morle’s daily blog, where he writes about what he is learning in deep tech venture building. Read more here. Follow him on Twitter at @philmorle