How Can Startups Leverage Project Management For Exponential Growth?
Every startup needs project management for its growth. Entrepreneurs are fully aware of this. But they just don't have time implement good project management practices.
Did you know that everyone is born to be a project manager?
And you cannot be different.
Do you remember those days when you have to make arrangement for a big party? Or when, you had to organize a trip for a big group that included your distant second cousin's aunt?
You were not sure what to do but everything went well and everyone thanked you at the end.
Goal achieved. Job well done!
The job was nothing but a small project. And you did it very well. And you completed it without having a project management degree.
Let's take a moment and analyze what did you do to make the project a success.
Most probably you would have done a combination of following things:
- written the name of the guests on a piece of paper
- talked to a few guests and understood their needs
- thought about the idiosyncrasies of the guests
- defined the overall requirements to be done
- created a list of all the small and big tasks
- scheduled the tasks to fit overall time-frame
- brainstormed with your close aides and divided the tasks
- estimated how much money would be required and made arrangements for the same
- performed the tasks as required
- made payments as required
- took care of problems and issues as required
- communicated regularly with the guests
The above list is a quick overview of things that might have done. There are many other little things that you might have done. And, when something was not working, you would have improvised.
While organizing the whole show you would have used a lot of common sense to successfully plan and execute.
Project Management is nothing but a lot of Common Sense sprinkled with logical reasoning and appropriate use of tools and techniques.
And all of us have these things in abundance.
Startups' Project Management
What Is Project And Project Management?
Many people think that project management is required only for IT companies. Many other people think that it is needed only by the large companies for big projects. Nothing can be further from the truth.
A project is a temporary endeavor undertaken to create a unique product, service, or result.
In the above definition 'temporary' means time-bound. It means that a project has a end date - it just cannot go on forever. 'Unique' means something that has not been before - it requires a new thought process.
Do You Need Project Management To Run Your Business?
You may have a small setup but answer the following questions.
- Have you created (or are creating) a product or a service?
- Is your product or service somewhat unique?
- Do you have a deadline for creating your product?
If the answers to above questions is yes, then you are doing or have already done a project.
Your projects will become immensely successful if you start employing modern project management techniques.
Project Management can be easily done and should always be done for any small business.
Is Small Business Project Management Different From Other Projects?
Heck! No. It is not different at all.
And most successful entrepreneurs are great project managers. They have a inborn talent for project management.
You may not have realized it but you too have natural talent to execute projects successfully. You too can build a great empire by following good practices of project management. All you have to do is inculcate them in your daily process.
And you don't need a 6 months diploma course to learn modern project management techniques. Just read a few introductory books. You can combine their advice with your experience and common sense.
And viola! You will be good to go.
Quick Steps For Implementing Project Management In Your Business
- Describe your product or service in simple words - something that can be understood by your Grandma. Just one pager is enough .
- Define a business oriented specific objective. It should include high level budget and timeline.
- Identify and describe your target customer.
- Define revenue objective. Again, it should include a high level timeline.
- Define scope of the product - describe product requirements, features, and specifications.
- List down all the tasks that are required to be done
- Prepare a schedule.
- Assign tasks to team memebers
- Identify the risks and proactively take care of them
- Regularly track the completions of tasks
- Take care of issues as they come
- Always keep a sight of your objective. Do NOT get distracted.
There are many ingredients to create a successful business. Project Management is one of them. To be a successful business owner, you should learn the finer aspects of project management.
I successfully use project management for my own business and my clients' business. It not only saves our time but also streamlines our clients' business.
Believe me. Implementation of good project management practices will save you more time than you realize it.
Remember, like you, your team members are also born project managers.
Good luck for your business.
About Praveen Malik, PMP
Praveen is a startup enthusiast and sales conversion guru. But his first love remain in Project Management.
Praveen is a well-renowned speaker, trainer, author, and project management coach. He helps PMP aspirants through his project management blog. Nowadays, he spends most of his time & energy in growth hacking startups and small businesses.
You can directly contact Praveen through his websites or social media profiles.