Often when you are in business, there are all sorts of opportunities that present themselves to you.
I was reminded of this the other day when I was taking to a friend who was frustrated about the amount of times he gets distracted by "projects and opportunities".
Lets call him Peter.
Peter was saying that more often than not these opportunities became distractions from the core business or main revenue
drivers of the business.
And that there is an opportunity cost of taking attention away from immediate revenue generating activities.
I was reminded of a really quick filtering system I use for working out what to do and what not to do.
And I shared it with him so I thought I'd share it with you too.
Especially if you are a smaller operation with fewer team members, putting resources into a new idea or opportunity is very likely to take resources off something else.
Which is great if it's going to give you a good return on the resources you allocate to it.
I boiled it down to three questions...
1. Will it make us money in the next 60 days?
2. Does it dovetail into what we are already doing?
3. Will it be fun?
Often the answers to these 3 questions forms a pretty good basis of data upon which you can make a decision.
Take care of yourself and the ones you love