January 15, 2017 News and Views No Comments

The “stop doing” list is a way to more effectively allocate the most precious of all resources: time. It’s possibly more beneficial than the to-do list.

It’s about this time of year that businesses plot out their strategy for the coming year: they determine what direction they want to go in, what they want to achieve, and what new projects they want to get involved in.

Smart leaders have also come to realise that while it is important to focus on the things that need doing, it’s equally important to stop focusing on the things that add little or no value but have just, well, always been done.

If you were able to stop doing those little-value tasks, think what else you could do with those resources – what other more meaningful projects / data / other ideas could you utilise for a bigger bottom line?

ACTION: Ask each team member to come up with his or her own “stop doing” list, along with the reasons why the activity should be stopped.

When you have everybody’s list, discuss with your management team which areas you will “stop doing” in the future, and where you will use those freed-up resources.

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Written by Hounsell Accounting Ltd