Sounds simple, but the most important thing for entrepreneurs to do is to keep both an ‘Action List’ and an ‘Idea List.’
The fact is that entrepreneurs are driven to come up with new ideas – sometimes several a day – it’s one of the most important characteristics of an entrepreneur. But to be productive while keeping their creative edge, I ask them to create a weekly “Action List’ based on some form of a strategic plan. These are items that they have prioritized for the week. On the “Idea List,” I tell them to write down every single great idea they have during the week. Then we review the “Idea List” at the end of each week and decide if any of the ideas need to go on the next “Action List,” or if they should be filed for later (i.e. monthly, quarterly or annual) review.