The following is a guest post from Sam Suthar, the CMO of Acquire.

Scaling your business is almost impossible until you know your customer’s value. Whether you’re going to scale a brick-and-mortar business or an online business, it doesn’t matter; it’s vitally important to understand what each customer is worth to your business.

Statistics by Unicom Group show that 50% of customers naturally churn every 5 years. Sadly, this number can increase if you fail to understand what the customer who signed up last night is worth.

Can you reduce your churn and increase customer retention rate?

Yes, it’s doable. Although very tricky. In the rest of this article, I will show you how to scale your business by first knowing the value of each customer.

Continue Reading

In 2016, Process Street went from using a basic Bootstrap theme to a custom-branded website, complete with a logo change and full aesthetic overhaul. We did it to avoid looking dated, and to make the site consistent with our app.

Like many startups, we focused on building a great product first, and rightfully overlooked the importance of a brand until the time was right.

A brand is the often low on the list of startup priorities. Startups develop in a fast-paced, cutthroat environment and are concerned primarily with attracting early users as beta testers, building disruptive products, and iterating based on feedback. Tech is a mercurial industry; many companies start out with a solution to a problem that could be adopted by everyone from individuals to large corporations.

Over time, by stabbing in the dark and following growth over all, a tech startup could find itself with a brand that doesn’t match its product. That’s something we grappled with in 2016, and it’s something even big tech companies come up against every couple of years.

Continue Reading

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.
Continue Reading

One of the key strengths of top companies is the employees inside them.

Who they hire and how they hire them helps determine employee attainment, employee satisfaction, employee accountability, and employee turnover.

Small changes to recruiting processes can have a surprisingly large impact on the day to day life of a company. According to the Glassdoor Economic Research (2015) report, a 10% harder interview process is associated with a 2.6% higher employee satisfaction later on.

Loads of our clients use Process Street for managing their recruitment processes and we know all too well how important it is to get that process right.

That’s why we’re going to explore how 3 top tech giants manage their recruitment and see what gold standard techniques we can pass on to you. We’ll explore:

• The three stage process Google use to make new hires
• How Facebook hire Builders not just regular folk
• What SpaceX do to hire the best of the best

Continue Reading

Think about what’s at stake if Salesforce suffered a breach…

• American Express, Philips, Vodafone, Virgin, Western Union, GE, the U.S. government, and 150,000 organizations risk their communications leaking to the public
• This includes trade secrets, financial documents, passwords, and bank details
• Hackers could believably impersonate bank employees or government officials

It’s a terrifying concept for Salesforce customers, and just as frightening for Salesforce themselves; if a breach like that happened, their $61b company would suffer tremendously.

A company as well-known as Salesforce has a huge target on its back, so it needs to have the highest security standards even while scaling up and innovating rapidly.

Continue Reading

Fake news is a hot button issue right now and one we’ve covered a couple of times at Process Street.

Normally, the discussion of fake news is a roundly negative affair.

How do we come back from consistently lowering journalistic standards? What does this mean for society?

In this article, I’m going to put a more positive face on and explain why there’s good reason to believe quality journalism is going to make a comeback – it may have already begun!

• We’ll look at broadly what fake news is, and why it isn’t a wholly new phenomena.
• We’ll look at the financial performance of different media outlets and try to understand what economic motivations there are in the industry, plus how that impacts on content.
• We’ll look at the new wave of journalistic opportunities and what you can do to help!

Continue Reading

Accounting is a time-consuming, complex, frustrating, and criminally boring part of running a business.

It’s precisely this kind of tedium which inspired Monty Python to riff on the profession several times, with accountants getting so frustrated that they do everything from becoming pirates (sailing the wide accountancy in a moving building) to try to switch to lion taming.

However, accounting and bookkeeping is also a vital part of running a business if you want to abide by the law and track your finances. No matter how tedious it might seem it’s vital to know what money is coming in, where it’s being spent, and whether you’re earning a net profit come the end of the financial year.
Continue Reading

On October 3rd 2017, the Financial Times reported that Tesla shares had slumped after the business hit a bottleneck in its production.

Tesla shares fell nearly 2 per cent to $335.91 after the Palo Alto-based company said that it produced just 260 of its Model 3 vehicles in the third quarter, well below the target of more than 1,500 that chief executive Elon Musk had predicted for the month of September alone.

What caused that failure to hit the target?

A bottleneck.

A bottleneck is when one process in a chain of processes cannot perform to the standard of those around it, creating a delay which damages the other processes.

No matter how well Tesla creates batteries or programs its self-driving software, if the factory can’t, for example, install tires fast enough then Tesla can only produce cars at the rate it installs tires.

That poor process brings all of production down to its level. Business output becomes defined by its weakest link.

But it’s not just shop floor industrial processes which fall foul of these problems. Any business or set of operations will be faced with this challenge too. In this article, we’ll look at a couple of approaches you can use to attempt to identify and overcome bottlenecks in your business.

• Flow charts help you visualize current operations
• The Five Whys technique allows you to identify root causes quickly
• Toyota’s three concepts for process implementation focus your improvement
• How Process Street can assist in beating bottlenecks

Continue Reading

As a gateways to the internet, browsers are one of the most popular types of software out there. Everyone needs one, but which is the best? The market changes so quickly, it can be hard to keep up with the facts.

Which is the fastest? Which has the best extensions? Which is the most secure? While many people use Chrome, or their default pre-installed browsers, this doesn’t necessarily indicate a ‘best’ browser.

If you’re reading this, you want to find the fastest, most capable, browser for your needs. Finding the most popular isn’t enough, because those stats aren’t always related to quality.

In this article, I’m going to use hard data to decide on the best browser on the market, looking at the most popular options: Chrome, Firefox, Edge, Safari, Opera, and Vivaldi.

I’ll compare speed, memory usage, range of extensions, privacy, and usability.

Looking for a new browser? Want to be sure you’re using the best technology on the market? Keep reading for a full data-driven comparison after a general overview.

Click here to skip down to the hard data and avoid the broad overviews

Continue Reading

In the first quarter of 2017, the AppStore and Playstore saw record revenues yet again with a whopping total of $15 billion worldwide, representing a year over year growth of 45%.

Add in other online sales and the amount of money being spent is astronomical.

But how do we process all these sales? And what means of processing is best for your company?

We’ve pondered the question at Process Street and decided to write up our findings. In this article, we’ll compare Stripe, Paypal, Square, and Braintree to see what each do and how they do it. We’ll analyze those findings and suggest which might be better for different kinds of businesses.

The key areas we’ll compare are:

• Features – what do they offer and what can’t they do?
• Pricing – where can we find those small gains which make a difference at scale?
• Ease of use – can a regular person integrate it into their business, or is a developer needed?

But first, let’s look at some of the different use cases for these payment platforms to contextualize our investigation.

Continue Reading