Our key business advisor: Timo

As our managed rollout of MyPunchbowl.com picks up steam, it’s becoming more important than ever for me to organize my priorities everyday. Sometimes my focus is on marketing, sometimes I’m thinking about raising money, and often I’m focused on how to make the best damn event & party planning software in the planet.

To organize all of these priorities, I tend to start every day the same– I consult with my virtual business advisor “TIMO.” Timo is an acronym I invented to remind about me about how to prioritize my thoughts on a daily basis. It goes something like this:

T = Team: How is the team doing? Is everyone excited about working on MyPunchbowl and working on things that they are best at? Are there additional people that we need to bring in to help achieve our goals?

I = Idea: What areas of the product need work? Are there user interface issues to discuss? Do we need to prototype any new functionality? Are we focused on the unique parts of the product?

M = Money: Are the bills paid? Is there anything I can do today to improve the company’s financial health? What do we need to do to keep the fund raising efforts going?

O = Opportunity: What market opportunites are out there? What partnerships can I work on? Are there opportunities in any area of the business that I can act on today?

In my next post I’ll explain why I think TIMO is the correct order for any startup.

Timo helps me organize my priorities everday. What do you think? Do you have other simple ways to organize your startup’s priorities?

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5 Responses to Our key business advisor: Timo

  1. Sam says:

    Sounds good to me, as long as you don’t let the short-term problems distract you from making progress on the long-term vision (especially once you start growing really quickly). It’s easy to get caught up putting out fires, and neglect to do the important (though not so urgent) things that can really help you be successful.

  2. Sam says:

    Feedback/Listen
    I think you left one part off. You should always be looking for ways to listen to your customers. The more frequently you can get input from them, the tighter the feedback loop can be with the product. It seems useful to emphasize the listening and analyzing part explicitly on its own, not just as implicit subcomponents of the Idea or Opportunity parts.

  3. […] Timo helps me organize my priorities everday. What do you think? Do you have other simple ways to organize your startup’s priorities? Posted by mdouglasVery nice article. And author’s blog is intresting tooLink to original article […]

  4. […] To organize my thoughts in the day, I often think about TIMO.. an acronym I invented to remind me to think about Team, Idea, Money, and Opportunities– to me, some of the key areas of an early-stage startup. To read about this philosophy, see the original post. […]

  5. Fundraiser says:

    A few questions from a blog idiot

    How do you keep the spammers from eating you alive? i\’ve seen blogs with nothing but spam postings.

    How do you keep some left wing extremist from posting racist or defamatory rhetoric? and if you cant stop them, what are you legally liabel when they do?

    can viruses be posted to blogs?

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