The disinterested government worker smeared Little Debbie stains on my super important registration document. She was taking her sweet time & probably dreaming of the weekend. I was working hard to keep my patience and looking forward to checking this trip off “the list”. Although it felt like an entrepreneurial accomplishment, it was not.
Like I just experienced, when you’re building a business, you invariably have to do many things that are administrative in duty. My recommendation is that you keep a positive attitude and knock them out, but that you do not consider these to be business accomplishments.
I’ve caught myself in the past getting excited about crossing things off the list of to do’s, when in actuality “deliverables” didn’t really get me closer to my goal, they were just business requirements.
Here’s a quick list with some of the tasks that you have to do but that shouldn’t be considered accomplishments in the early stages:
- Tax documents– filing with the state, the feds, restricted stock elections, angel tax credits, trips to government buildings, etc.
- Financial– opening bank accounts, checks, credit cards
- Legal– generating/reviewing operating agreements, employment documents, customer contracts, etc.
- Equipment– acquisition of laptops, monitors, phones, etc.
I’m not saying that these things aren’t important. Most in fact are necessary. What I’m saying is that without product market fit and a proven business model, none of these things matter. So do what you must to get them done, but be sure to rack up real accomplishments on the same days that you do the administrative stuff.