| Opportunities Analysis Grid |
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The inability to decide which opportunities to pursue all too often leads to a lack of focus and I have seen a number of businesses that have pursued costly, inappropriate opportunities at the expense of their core business. A good way to evaluate competing opportunities is to develop a spreadsheet listing all opportunities you are considering. Then add the following columns in the following order.
Circulate the spreadsheet template to all those involved in the decision and ask them to rank items 1, 2, 5 and 6 numerically and 3 and 7 subjectively on a scale of 1-10 where 1 is low and 10 high. When the results come in, you need to express them all on a consistent scale. To do this, create a numerical value for items 1, 2, 5 and 6 using a 1 - 10 scale and reassign that value for each answer. Then add up all the values, subtract sub total 2 from sub total 1 and reorder based upon the total score. The process usually requires reiteration and the weighting of the relative values may require “tweaking” for different industries. Even if the process does not produce a “result”, it certainly gives you a much better understanding of the dynamics involved. It is never a waste of time and can produce some very real insights.  Please also visit our Fan Page on Facebook….  It’s TIME to Manage. We are creating a community of people who feel that they could use their time more productively. We’ll post ideas and invite people to share things they do that work for them. Become a fan and check back regularly to see what’s going on as this will be a great place to find and contribute ideas and techniques for improving your time management skills. http://tinyurl.com/sd-timetomanage
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