THE PRACTICE

Put an expiration date on every business idea you write down, and let the ones you haven’t acted on quietly go.

Almost every solo operator has one. A note on their phone, a notebook, a document called “Ideas” or “Someday.” A course they could build. A second service line. A podcast. A product. A newsletter. A partnership with that person they met at the conference. The list gets longer every month, and very little ever comes off it by being done.

It feels like a savings account: a store of future value, waiting to be spent. In practice it works more like a debt. Every item on it is something you’ve told yourself you’ll do, and every time you open the list, you’re reminded of how many promises you haven’t kept. That reminder doesn’t make you act. It just makes the current work feel smaller than it is.

Why it works

Ideas have a shelf life. The course idea that made sense eighteen months ago was based on what clients were asking for eighteen months ago. The partnership depended on someone who’s since moved on. When you keep every idea indefinitely, you’re not preserving value, you’re preserving clutter, and some of it is actively misleading because the conditions that made it good no longer hold.

An expiration date forces an honest question at a set time: is this still worth doing, and am I actually going to do it? Most of the time the answer is no, and letting it go is a relief. The few ideas that survive two or three of those questions are the real ones, and they get more of your attention because they aren’t competing with forty others.

How to run it

Date everything on the list. Go through what you’ve got and add the date each idea was written, or your best guess. Then add an expiry: ninety days after that date.

New ideas get the same treatment. Write the idea, today’s date, and the date ninety days out. That’s it. No planning, no research, no “first steps.” Capturing it is the whole job for now.

Check expiries once a month. For every idea that’s past its date, make one of three calls. Start it: it goes on the calendar with a real first step this month. Renew it: it gets one more ninety days, once only, with a note on why. Let it go: it’s deleted, or moved to an archive you don’t open.

Limit renewals. An idea can be renewed once. If it comes up a third time and you still haven’t started, that’s your answer. If it’s truly good, it will come back to you on its own, in a better form, when the timing is right.

The mistake most people make

Keeping the archive open “just in case” and scrolling through it when they’re procrastinating. An archive you browse is the same list with a different name. If you need to keep a record, keep it somewhere that takes effort to get to.

The other mistake is feeling like letting an idea go means you’ve failed. It doesn’t. Most ideas are supposed to die. Deciding which ones is part of running a business, and doing it on purpose is far better than letting them all pile up until the list itself becomes something you avoid.

 

Do this before Monday

Open your idea list. Anything older than six months, decide right now: start, renew, or let go. Be ruthless. Put a date and a ninety-day expiry on everything that’s left. Most people end this with a list a third of the size and one idea they’re actually going to start.

Article contributed by
The AFE Editorial Team