Doing less with more, how to drive efficiency with a small team

Last week, I hosted a roundtable discussion at Day One’s CEO Summit in Napa, California on the topic of defining key characteristics of how we operate at Martie. In attendance were 80+ founders from Day One’s portfolio. Speakers included ClassPass' Payal Kadakia, Truebill's Haroon Mokhtarzada (which was acquired by Rocket Companies for $1.3B), you.com's Richard Socher & more, speaking about topics ranging from finding product market fit, why every company will be an AI company, finding passion, and more.?

Driving efficiency with a small team is something I’m very passionate about, and a topic we discuss internally and try to improve ongoing at Martie.

Not only do I believe in the power of small, nimble teams, I believe that with a small team, you can in fact do much more, with less. But how to actually do that? Here’s are the 5 key takeaways that resonated amongst the group of entrepreneurs around the table:?

1. Stay focused on the goals, not the to-dos

It’s easy to get lost in the weeds, and lose sight of the bigger picture. Things will always break, and there will always be fires to put out. Dedicate time every day to focus on the goals, and bring your team with you. Find ways to reinforce where you are going, ongoing.

2. Assign leadership roles for KPIs

Everyone is wearing lots of hats, but making one person report on a specific KPI, even if that KPI touches other departments. This creates accountability and a culture of more people in the organization pushing towards the bigger picture.

3. Practice the power of no

There’s no way everything can get done when you operate with few resources. Pick the projects that when completed, will push real progress. Then put the team’s effort into those. Instead of ignoring what won’t get done, say no to them. The more you can say no to, the more time you have to focus on the yes work. Saying no is difficult, not only for you but for your entire team. Make sure you support them in their decision making, and that you build a team confident enough to say no.

4. Hire the right people

When you have a small team, each member’s efforts truly matter. And not everyone is cut out to move fast, prioritize, wear lots of hats and say no. It’s a delicate dance, and takes a unique type of persona. If you find yourself with a resource that continuously needs a lot of guidance, support and handholding, it might not be the right fit for where you are. The sooner you can recognize it, the better.

5. Do things that scale

How can you make 1 hour equal several? Challenge the yourself and your team to think about new ways of achieving your goal that keeps paying back. One hour put towards marketing that continues living beyond the initial publication (podcast and high end PR) might be worth a lot more than the same hour put into a partnership with an influencer leading to a 24h social media post. Make sure you do work that pays you back again and again.

Running a lean and efficient team has multiple benefits, from minimizing time managing staff in early days to increasing speed of processes and decision making.

What are some of your tips and hacks for building small and efficient teams?