A lot can happen in one week for small to medium businesses. Even more can happen in a month. Good or bad. We’ve worked with many SMBs and found that those who consistently have a weekly heartbeat check tend to be more successful.
Doing a weekly heartbeat is a simple exercise, but requires discipline to consistently do it every week. Businesses often find themselves running 100 mph, but not often enough stepping back to view the forest for the trees.
What is a weekly heartbeat?
In short, a bullet point overview of the relevant moving parts of your business. Venture capitalists and many law firms call theirs a partner meeting. If you’re just getting started an email to your team will work. Simply pull together overviews of your different functionalities. If you are a solo entrepreneur, find a few advisors to send this to – it’s important to keep yourself accountable to yourself.
What functionalities should be included? It will vary on your business, but focus on 3-4 core areas of your business and share with your team what happened and what’s in the works. At VipeCloud, for example, we have a weekly heartbeat which discusses what happened and what’s in the works for our product, sales, marketing, and customer success.
Why are weekly heartbeats important?
Two words: accountability and honesty. Often times in small businesses perspectives can skew stakeholder perspectives toward optimism (or sometimes to pessimism). Have a written record helps keep those perspectives in check.
It also creates an opportunity for sounding boards. Often times the rush of business can create artificial barriers between different areas of your business. A weekly check in helps to eliminate that.
Cheers to a healthy weekly heartbeat.