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The best way to run an inaugural draft is with a ton of patience and a strong commitment.
If you are setting up a league -- even if the league is just amongst a small group of friends, the goal should be a long lasting experience of countless seasons. If that is indeed the goal -- a goal which in all likelihood will be played out over a very extended period of time, spending a few weeks on a draft is the way to go.
The draft allows for so many possibilities on ways to build a team, take your time with it, enjoy it. Rushing through it to just get to the games somewhat defeats the purpose of the draft in the first place.
As far as the process itself goes. StatsLab/OOTP OU do work as ways to keep track of things. A shared GoogleDocs could work (assuming again it's just a group of friends) -- a Slack channel, a message board, or the uploading/downloading of a file once a day doesn't seem like a bad idea either.
Best of luck, these drafts are fantastic when done the right way --- again though, patience...
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