Do you step back and evaluate your ventures from time-to-time? If not, your ventures are suffering. Join us as we talk about why this exercise is important and one tool that can help.
Reinventure Me toolbox episodes offer quick tips and tools to help you excel in life and in your life ventures. In this week’s toolbox episode, Leary shares a tool he created to help evaluate his own venturing portfolio.
Why is using a tool like this helpful? It makes it possible for us to:
- Prioritize our time effectively.
- Ensure that our ventures contribute toward our personal missions.
- Understand why our ventures are important to us.
- Determine important contributions we can make to our ventures in the next year.
- Understand how our ventures benefit us.
- Understand how our ventures tax us.
- Determine how to best reallocate our time.
- “Time is the one investment that [we] don’t get any more of…. [H]ow we allocate it among all the things we want to do in our lives is a really important question.”
- “Whenever you’re looking at something that you’re doing, ask yourself, ‘Would I choose to do this if I weren’t already doing it?'”
- “The question for you to ask is: Is there something better that’s a better use of your time, and would you choose to do what you’re currently doing if you were presented with it for the first time?”
How else can we monitor and evaluate our ventures? Share your tips and suggestions in the comments below.
Resources mentioned in or related to this episode:
- How to have a personal planning retreat, Episode 46 of the Reinventure Me podcast
- How to create personal mission statement, Episode 15 of the Reinventure Me podcast
- Leary’s blog post, “Think like a portfolio manager to improve your return on mission“
- Leary’s Venturing Portfolio Analysis tool (Word doc)