A new venture needs a laser sharp focus to survive and prosper.
Setting priorities is important for any stage company. It is especially important for new ventures and startups. The successful CEO learns to set aside those tasks that are not important. Further, he works to complete many important tasks before they become urgent.
Extremely Early Stage
At the earliest stages, the task is to define the offering and validate that there is market traction.
Early Stage
The priority is reducing time to revenue. First paying customers validate that you are on a good path.
Growth Stage
The priority is managing the growth. After real growth is in place is the time to start planning for your financial exit. If you have not made a conscious decision as to in which country your company will be headquartered and why, now is the time to make a well-informed decision. If Europe is a logical place to have a regional or worldwide headquarters; then you should think about where your business is (and will be) and where the low corporate tax rates are. Similarly, if Asia is a logical place to have a regional or worldwide headquarters; then you should think about where your business is (and will be) and where the low corporate tax rates are.
Mature Company
The management of most mature companies focuses on increasing shareholder value.
Conclusion
Companies of all stages must work to maintain focus on what is important. This is more time-critical in younger more fragile new revenue streams.
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