Ben Mulholland – Process Street

All posts by Ben Mulholland


53 Essential Business Metrics You Need to Be Tracking in 2018

business metrics

It’s impossible to run a successful business without taking the time to track your core business metrics.

If you don’t, then good luck knowing:

  • How much pure profit you’re earning
  • Where costs can be cut
  • Whether you’re selling enough
  • How much debt you have
  • Whether you’ll be bankrupt next quarter

Having said that, where do you start? There are so many metrics you could be tracking that it’s easy to get stuck tracking and recording everything rather than analyzing and acting on your data.

That’s why I’ve collected 53 core business metrics right here to get you started. Stop wasting time wondering what to track or flicking between 20 different posts going over five stats each – every metric here comes with a brief description and formula or method for easily tracking it.

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What is a Business Process Consultant? (And How To Find a Good One)

business process consultant

What do you do if you don’t have the time or know-how to document and improve your processes?

You hire a business process consultant of course!

While we’ve talked endlessly in the past about why processes are important and how to manage your own, hiring a business process consultant lets you reap all the benefits without having to spend an age assessing your organization and talking to every last employee involved.

So, if you want to organize your processes and bring efficiency to your business but don’t have time to do it yourself, read on!

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How One Piece Flow Can Reduce Your Operations Time by 96%

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We’ve all heard about the importance of focusing on one task at a time.

Take that idea, apply it to manufacturing, and you have the concept of one piece flow.

The concept is simple in that you have to limit yourself to working on one item at a time (you only ever have one WIP item). By doing this you can save time and money, as work is performed faster and any space you use is highly optimized.

In fact, it’s the very same concept that Toyota used to reduce the time taken to pack boxes in to help families hit by Hurricane Sandy by 94%.  In total, the aid workers were able to feed 400 more families in less than half the time.

However, there are a few vital things that you need to be careful of when applying one piece (or “continuous”) flow. It’s not a miracle cure, and while it can be used outside of an assembly line, there are a few practical elements which can’t be ignored.

So, today I’ll be diving into:

  • What one piece flow is
  • The advantages and disadvantages
  • How to implement it
  • Using one piece flow in any area of your business
  • The problems of theory vs practical effects

Let’s get started.

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The Consultant’s Guide to Process Street is Here!

You know how important documented processes are already.

They allow you to repeat successes, avoid recurring failures, and all but eliminate human error from your client’s operations.

Unfortunately, doing this with software like Office 365 is like eating soup with a fork – it’s possible, but far messier and more difficult than it needs to be.

Process Street has been built from scratch with the sole purpose of letting you easily and effectively document, manage, and track your processes, and so it doesn’t suffer from the same problems as the traditional software solutions like Microsoft Word.

With this free guide, you can become a true power user and effectively manage your processes, and even earn extra money by referring your clients.

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How to Beat Procrastination and Use It to Your Advantage

how to beat procrastination

So, you want to know how to beat procrastination? Well, here’s the simple answer.

You can’t.

At least, not completely.

No matter how hard you try, it’s impossible to completely eliminate procrastination. There will always be tasks you put off, and there will always be projects that get shelved in favor of others.

You can, however, learn how to use procrastination to your advantage and make what many see as a chronic issue into one of your greatest strengths.

First, however, you need to know your enemy. That’s why today I’ll be covering:

  • What causes procrastination (and when that isn’t a problem)
  • The benefits of procrastination you can take advantage of
  • The drawbacks that can come back to bite you
  • How to use it to your advantage

It’s time to stop stalling and get stuck in.

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How to Get, Process, and Act on Employee Feedback

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Saying “employee feedback” conjures images of awkward conversations with managers and meaningless buzzwords during performance reviews, but it doesn’t have to be that way.

Feedback cycles shouldn’t try to force comments out of your team, but instead support them and let them know when and where they can raise any issues they encounter.

Doing this lets you see the flaws in your business and figure out how to take action in order to improve it for everyone involved.

It’s also a great way to get a second opinion on issue that you have lost all context on. Veteran and new employee alike offer vital second opinions and can really help to highlight where your processes are weakest, and that’s not even mentioning other benefits such as helping to make your employees feel valued.

69% of employees say they would work harder if they felt their efforts were being better recognized” – Lindsay Kolowich11 Eye-Opening Statistics on the Importance of Employee Feedback

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The History of Surgical Checklists: How Processes Save Lives

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We talk a lot about business processes here on Process Street, but today we’re going to do things a little differently. Instead of waxing lyrical about business efficiency, I’m going to show how surgical checklists have evolved over history, and how they continue to save lives today.

From prehistoric humans poking each other with sticks and rocks, to the Ancient Greeks, the discovery of germs and antiseptics, up to modern day medical marvels, surgical procedures make a great case for why documented checklists are vital for continued success.

Not only that, but by looking at how major theoretical and technological breakthroughs have affected surgical checklists, we can better show why documenting and maintaining your processes isn’t as hard as you might think.

Alternatively, if you’re just interested in medical history, stick around for the ride – I’ll be making this interesting for all.

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17 BPM Statistics to Help You Increase Efficiency in Your Business

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Business process management (BPM for short) gets a bad wrap. Some consider it industry jargon, others an ineffective management “hack”, and almost all see it as boring.

However, there is no better way to increase efficiency and consistency in your business than by managing your processes effectively. To prove it, this post will dive into 17 BPM statistics to show:

  • The growing trend of using BPM software
  • How common (and important) documented processes are
  • The importance and benefits of processes
  • The dangers of not managing processes
  • Why everyone in your company needs to be involved with your processes

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Little’s Law: How to Analyze Your Processes (with Stealth Bombers)

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Simple as it may be, Little’s law is an incredibly powerful tool in the arsenal of almost any team. From performing back-of-the-napkin calculations to showing the performance of a system over time, this formula is one of the key building blocks to running an efficient business.

Without Little’s law, Lean and Kanban wouldn’t exist, and key elements of America’s nuclear deterrence would be left up to chance.

After all, you can’t fly B-2 stealth bombers into action if they’re all under maintenance due to bad queue management.
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12 HR Management Tips to Run an Effective Business (and Prevent Total Chaos)

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Effective human resources management prevents company-wide anarchy.

From solving internal disputes, to presenting a united front to customers, to just plain abiding by the law, HR is a vital discipline which is all too often generalized and pushed out of mind.

That’s why today I’ll be going through 12 HR management tips to help you keep your employees engaged and your company running smoothly. From the utter basics such as being open to hearing feedback on techniques like using social media to grow your network, keep reading to learn everything you need to know to avoid being another Michael Scott.

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